The Europe Rice-based Products Market would witness market growth of 5.8% CAGR during the forecast period (2022-2028).
It is projected that rising rice output will work well with the market's expansion. In order to increase the attraction of their products, major businesses are also experimenting with different flavors that can blend well with consumer preferences. Furthermore, to expand their customer base, prominent players are also making their brands available online and through a variety of offline distribution channels, such as supermarkets and hypermarkets.
The market has expanded as a result of increased consumer demand for products made with fragrant rice and ongoing product development. Recent decades have seen a steady rise in consumer demand for products with aromatic specialties as a result of shifting demographics and consumer preferences for everyday foods. The increased consumption of rice in the world as a whole is another factor influencing demand for these products.
In this region, Asian cuisine and culture are becoming more and more common, which encourages the demand for rice-based products. Regional consumers are becoming more aware of the advantages of non-GMO and organic products for snacking. More cultural similarities, including unique noodles and rice, which are proven to be popular among customers in the region, are now more widely available on the shelves, spurring innovation in the category. Although rice, pasta, and noodles are already mature throughout the Western Europe region, the trend for premium products has led to an increase in regional sales as customers look to experiment with tastes and premium ingredients. The rice-based products market's expansion is further increased by the trend toward healthy eating in this region and the existence of several significant prominent players.
The Germany market dominated the Europe Rice-based Products Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17,652.6 Million by 2028.The UK market is anticipated to grow at a CAGR of 4.9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 6.6% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Online and Others. Based on Type, the market is segmented into Conventional and Organic. Based on Product, the market is segmented into Rice Noodles, Rice Snacks, Rice Cakes, Rice Puddings, Rice Balls and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Rice-based Products Market will Hit $276.8 Billion by 2028, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CJ CheilJedang Corporation (Annie Chun’s, Inc.), PepsiCo, Inc. (The Quaker Oats Company), Thai President Foods Plc, Nona Lim, LLC., Lotus Foods Inc., Element Snacks, Ricegrowers Limited, Kameda Seika Co. Ltd., and SanoRice Holding B.V.
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