growing preference for ready-to-eat snacks is driving the Packaged Rice Snacks Market
Technavio analyzes that the Packaged Rice Snacks Market is expected to grow at a CAGR of 5.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3767.5 million.There are various factors that contribute to the growth of the market. The packaged rice snacks market is experiencing significant growth due to the increasing trend towards ready-to-eat convenience foods. Consumers are increasingly seeking out nutritious and convenient snacking options, and rice snacks, with their low glycemic index and high fiber content, fit the bill perfectly. Additionally, the convenience of packaged rice snacks makes them an attractive choice for busy individuals and families. The market is expected to continue growing as more consumers discover the benefits of these tasty and healthful snacks.
The global packaged rice snacks market encompasses a range of rice cake variants, including brown rice cakes, white rice cakes, red rice cakes, and black rice cakes. Among these, brown rice cakes are the most preferred choice due to their whole grain composition and associated health advantages. These rice cakes serve as viable alternatives to processed junk food. The health benefits of rice cakes, coupled with rice's inherent natural properties such as being gluten-free and low allergenic, are fueling their popularity worldwide. Furthermore, the demand for organic rice cakes is surging due to their absence of harmful chemicals and perceived health benefits, aligning with current sustainability and consumer education trends.
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Packaged Rice Snacks Market Segmentation
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The Packaged Rice Snacks Market encompasses various rice-based products like rice cakes, chips, and bites. These convenient, ready-to-eat snacks cater to health-conscious consumers seeking low-fat, gluten-free, organic options. With rising lifestyle diseases such as obesity and diabetes, there is a growing demand for rice snacks. Retail sectors, including convenience stores, capitalize on this trend, offering innovative flavors and functional ingredients like probiotics and dietary fibers. Consumer education on natural benefits and sustainability trends further fuels market growth. Packaged rice snacks may include organic product lines, natural ingredients, and may be processed to ensure long shelf life.
The packaged rice snacks market encompasses vendors engaged in processing and packaging rice-based products such as rice cakes, chips, bites, and flavored snacks. These convenient, ready-to-eat options cater to health-conscious consumers seeking low-fat and gluten-free alternatives. Technavio's market analysis calculates the market size based on the collective revenue generated by these vendors, excluding food processing equipment manufacturers and packaged beverage producers. Market expansion will be fueled by the growing preference for minimally processed foods, which offer nutritional benefits including potassium, dietary fiber, folate, vitamin A, and vitamin C.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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