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Pharmacy benefit management market
RICE FLOUR MARKET REPORT OVERVIEW
The global rice flour market size was USD 12561.13 million in 2021, and the market is projected to touch USD 22303.15 million by 2032, exhibiting a CAGR of 5.36% during the forecast period.
Rice flour is a fine powder made from ground rice grains. It is a versatile ingredient used in various culinary applications worldwide and is a staple food in many cultures. Rice flour is gluten-free, so it is suitable for people with gluten intolerance or celiac disease. Sustainable and environmentally friendly rice cultivation practices are increasingly important and meet consumer preferences for environmentally friendly products. The spread of gluten intolerance and the rise of health-conscious consumers are increasing the demand for gluten-free alternatives, making rice flour an attractive choice.
Rising awareness of gluten-free foods are the major factors boosting the growth of the organic rice flour market during the forecast period. Moreover, it is expected that the increase in demand for organic products in various parts of the world will further promote the growth of the organic rice flour market. Additionally, increasing demand for gluten-free or gluten-free products due to celiac disease is estimated to further hinder the growth of the organic rice flour market. On the other hand, the presence of strict regulatory requirements related to food production and processing will further hinder the growth of the organic rice flour market over time.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The COVID-19 pandemic has affected the economies and industries of various countries due to shutdowns, travel bans and business closures. The rice flour industry suffered from severe supply chain disruptions and the closure of several processing, wholesale and smaller retail businesses in the early stages of the COVID-19 pandemic. The COVID-19 pandemic has disrupted supply chains, manufacturing, delivery schedules and sales of goods. Due to restrictions imposed to prevent the spread of SARS-CoV-2, consumers stayed at home and mostly used ready-made products. However, sales of rice flour rose sharply after the lull. As a result, the demand for rice flour has increased worldwide.
LATEST TRENDS
"Increasing Use of Rice Flour In Gluten-Free Products Will Drive Market Growth"
Several trends are emerging in the global rice chiller market. One such trend is the increasing use of rice flour in gluten-free products due to the rise in gluten intolerance and celiac disease. In addition, the demand for organic rice flour is growing rapidly as consumers prefer natural and healthier alternatives. Manufacturers are also focusing on innovative packaging formats, such as resalable bags, to improve customer convenience. In addition, the growth of e-commerce platforms is a major boost to the market as it enables easy availability and wider reach of rice flour products.
RICE FLOUR MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into White Rice, Brown Rice. The white rice flour segment held the largest market share in 2017 and is expected to grow at a faster rate during the forecast period due to the high fiber content of white rice flour. Foods rich in fiber help the body expel waste and lower cholesterol in the body.
- By Application
Based on application the global market can be categorized into Bakery and confectionary, Breakfast foods, Baby food. The bakery and confectionery segment is expected to have a significant market share due to the use of rice flour as a substitute for wheat flour.
DRIVING FACTORS
"Increase the Demand For Rice Flour From Various Foods And Beverages To Boost The Market Growth"
Rice flour is a healthy ingredient used in many foods such as baked goods and pastries, sweet and savory snacks, beverages and baby food. It comes in three varieties - medium and short grain, long grain and pregelatinized. Rice flour is a rich source of vitamin C and contains antioxidants necessary for skin repair. Brown rice is a type of rice flour that contains B vitamins, high protein, and more fiber and antioxidants, while white rice is a rich source of empty calories. The nutritional benefits of purchased rice increase the demand for rice flour from various foods and beverages. Choline, an essential nutrient for animals and humans, can be found in rice flour. It helps transport cholesterol and triglycerides from the liver to the body. As a result, it is associated with supporting liver health. Rice flour contains a lot of calcium - 10 mg in 100 g of rice flour helps keep bones healthy. It helps maintain the recommended daily intake when combined with other calcium-rich foods such as milk, cheese, tofu and nuts.
"Growing Awareness About Nutritious Foods And Increasing Disposable Income To Expand The Market"
Growing awareness about nutritious foods and increasing disposable income of people is driving the rice flour market growth. Para-aminobenzoic acid acts as a sunscreen for the body. Rice flour is also used in skin care as a coloring agent and for irradiation of the skin. At the same time, the demand is increasing due to the increase in the consumption of vegan and gluten-free foods. However, the factors limiting the market are the use of substitute products such as wheat flour and the unsuitability of the climate for rice cultivation. On the other hand, investments in packaging and increasing distribution channels create ample opportunities for the growth of the rice flour market. To raise awareness of celiac disease caused by consumption of grains such as wheat, rye, and wheat has sparked interest in gluten-free products. Currently, there is no cure for celiac disease, only a transition to it. A gluten-free diet is a top choice for avoiding room. This led to development desirable in gluten-free foods, such as rice flour, which is expected to rise longer during the measurement. This will drive the development of the global rice flour market during the forecast period.
RESTRAINING FACTORS
"Unpredictability of the Grain Value Due To Climate Change Impede Market Growth"
One of the major difficulties in the development of the global rice flour market is the unpredictability of the grain value due to climate change. Atmospheric vagaries and random variations profoundly affect crops and damage agricultural yields in many regions, ultimately leading to variations in both input and cost of crops. In addition, the variable costs of vigor, synthetic compounds and composts cause volatility in crop costs.
RICE FLOUR MARKET REGIONAL INSIGHTS
"Asia Pacific Dominating the Market Due To Increase Per Capita Consumption"
Asia Pacific dominates the organic rice flour market share due to increase per capita consumption of rice flour. Additionally, the presence of major key players will further boost the growth of the organic rice flour market in the region during the forecast period. The organic rice flour market in Asia Pacific is expected to grow significantly due to the increase in rice production. Furthermore, increasing awareness about the use of natural nutrients is expected to boost the growth of the organic rice flour market in the region in the coming years.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The rice flour market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.
List of Market Players Profiled
- Wilmar International Ltd. (Singapore)
- Associated British Foods (U.K.)
- BELOURTHE (Belgium)
- Ebro Foods S. A (Spain)
- Ingredion (U.S.)
- Archer Daniels Midland Company Ingredion (U.S.)
- General Mills (U.S.)
- Thai Flour Industry (Thailand)
INDUSTRIAL DEVELOPMENT
October 2021: Cargill has launched a maltodextrin substitute based on rice flour. Cargill's new soluble SimPure rice flour is a clean label ingredient that acts similar to maltodextrin in taste, texture and functionality. The new ingredient was officially introduced at this week's SupplySide West trade show. According to the manufacturer, this component can replace maltodextrin in a 1:1 ratio and also improve the mouthfeel.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 12561.13 Million in 2021 |
Market Size Value By |
US$ 22303.15 Million by 2032 |
Growth Rate |
CAGR of 5.36% from 2021 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the rice flour market expected to touch by 2032?
The global rice flour market is expected to reach USD 22303.15 million by 2032.
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What CAGR is the rice flour market expected to exhibit by 2032?
The rice flour market is expected to exhibit a CAGR of 5.36% by 2032.
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Which are the driving factors of the rice flour market?
Increase the demand for rice flour from various foods and beverages and growing awareness about nutritious foods and increasing disposable income are some of the driving factors of the Rice Flour market.
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What are the key rice flour market segments?
The key Rice Flour market segmentation that you should be aware of, which include, Based on type the rice flour market is classified as White Rice, Brown Rice. Based on application the rice flour market is classified as Bakery and confectionary, Breakfast foods, Baby food.