Global Rice Cakes Market To Register The Highest Revenue In Asia-Pacific

The global rice cakes market size was worth around USD 519.64 million in 2022 and is predicted to grow to around USD 729.52 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.33% between 2023 and 2030.

Rice cakes are snacking items made of rice grains. They are typically low in fat and calories. They are also gluten-free and provide a crunchy or chewy texture which depends on the variety of rice cakes being consumed. Rice cakes vary in flavor and texture depending on regional preferences and cooking methods. Some forms are soft and chewy while some may be crispy or crunchy. They can be either consumed as is or used as a base for other dishes. Some people consume them by adding toppings such as peanut butter and other spreads. The rice cakes industry deals with the economic aspect of the production and distribution of these items. The sector includes a wide range of products such as plain rice cakes, flavored rice cakes, coated rice cakes, and rice cakes with added ingredients such as nuts, seeds, or dried fruits

This review is based on a report by Zion Market Research, titled "Rice Cakes Market By Flavor (Caramel, Chocolate, Chicken, And Apple Cinnamon), By Type (Puffed And Mochi), By Packaging (Snack-Sized, Pillow Punches, And Stick Packs), By Distribution Channel (Retail, Specialty Stores, E-Commerce, And Convenience Stores), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/rice-cakes-market

The global rice cakes market is projected to grow due to the rising demand and consumption of gluten-free food products. As there is a surging awareness rate about medical conditions such as celiac disease that are triggered by gluten consumption, more people are opting for a clean diet that includes gluten-free products. Rice cakes are proven to be an effective snacking option for people with such preferences. Moreover, the increasing commercialization of rice cakes, which was conventionally considered a traditional dish in some parts of Asian countries, has also assisted in a better growth trajectory.

As companies continue to expand their product offerings along with choosing exhaustive marketing strategies, they are likely to witness more demand in the coming years. This is further strengthened by the growing focus on weight management as many people have gained extreme and unhealthy weight post-Covid-19 as a result of a sedentary lifestyle. Medical professionals and healthcare professionals are aggressively trying to educate the masses about the importance of maintaining an ideal weight which can be achieved through a balanced diet and regular exercise. Rice cakes offer convenience since they are easy to carry and have a longer shelf life which results in many people consuming them regularly.

The rice cakes industry could face growth restrictions due to the presence of alternate snacking options that have wider popularity. For instance, potato chips, crackers, popcorn, and granola bars enjoy acceptance among a broader range of consumers and the industry size for rice cakes is currently limited. Additionally, if they are not stored properly, rice cakes may lose their texture which further limits sales volume.

The growing demand for plant-based and vegan food products may provide growth opportunities while the lack of consumer awareness could challenge market growth.

The global rice cakes market is segmented based on flavor, type, packaging, distribution channel, and others.

Based on flavor, the global market segments are caramel, chocolate, chicken, and apple cinnamon.

Based on type, the global market divisions are puffed and mochi. Both types have unique characteristics and there is a definite demand for both variants. Puffed rice cakes are prepared by subjecting rice grains to high heat and pressure which causes them to expand thus creating a light and crispy texture. They are often consumed as a healthier alternative in the snacking industry. In Western countries, this variant has gained popularity among consumers who are health-conscious and prefer low-calorie diets. Mochi cakes, on the other hand, are a traditional Japanese treat and are made of glutinous rice. They come in various shapes, sizes, and flavors, often filled with sweet fillings like red bean paste or served with soybean flour. One plain rice cake weighs nearly 9 grams.

Based on packaging, the global market is segmented into snack-sized, pillow punches, and stick packs.

Based on distribution channel, the global rice cakes industry is divided into retail, specialty stores, e-commerce, and convenience stores. The retail and e-commerce segment registered high growth in 2022. The former includes brick-and-mortar units such as supermarkets, grocery stores, and hypermarkets. They offer a wide variety of food products and generally tend to have more options in terms of brands, sizes, flavors, and other aspects. Retail stores tend to have dedicated sections for snacks where rice cakes are displayed alongside other snack options which is a type of passive advertising or marketing. The E-commerce segment is likely to register higher growth in the coming years driven by a growing number of online food product services and exceptional response shown by consumers. In 2019, nearly 48% of US citizens purchased groceries online, as per a recently published report.

Asia-Pacific is expected to lead the global rice cakes market due to the presence of a mature market for snacking items since rice cakes are a traditional cuisine and are enjoyed by people across Asian countries such as China, Japan, and South Korea. India, Thailand, and Vietnam, also have their versions of rice cakes and snacks made from rice. North America is expected to act as a significant revenue contributor driven by an increasing population preferring gluten-free snacks along with a rising number of companies offering a wide range of rice cakes across flavor boards.

The Middle Eastern countries and Africa have limited markets for rice cakes. The former witnessed higher sales of Arabic rice cakes in certain parts of the region. However, with the increasing migration of the Asian population to Middle Eastern countries, the region may create several growth opportunities in the coming years.

Rice Cakes Market: Competitive Analysis

The global rice cakes market is led by players like:

• Quaker Oats Company
• Lundberg Family Farms
• Wasa
• Lotus Foods
• Nature's Path
• Kallo Foods
• Saki Foods
• Edward & Sons Trading Co.
• Real Foods
• Lund's Swedish Pancake & Rice Cake Factory
• GG UniqueFiber
• Amanoya Shinshindo
• Le Pain des Fleurs
• Sanwa Seika Co. Ltd.
• Susukino Foods Co. Ltd.
• Moon Handbooks
• Tae Kyung Food Co. Ltd.
• Nishiki
• Little Duck Organics
• Lundberg Rice Cakes
• Lieber's Foods
• Rude Health
• TAIYO YUDEN CO. LTD.
• Kameda Seika Co. Ltd.
• GoMacro.

The global rice cakes market is segmented as follows:

By Flavor

• Caramel
• Chocolate
• Chicken
• Apple Cinnamon

By Type

• Puffed
• Mochi

By Packaging

• Snack-Sized
• Pillow Punches
• Stick Packs

By Distribution Channel

• Retail
• Specialty Stores
• E-Commerce
• Convenience Stores

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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