The North America Rice-based Products Market would witness market growth of 5.3% CAGR during the forecast period (2022-2028).
Rice & rice flour have a wide range of industrial and culinary applications. Rice can be used as food directly, in beverages, as seeds, and in other products. The major three applications for rice are as a direct food source. After cooking, parboiled rice, milled rice, and brown rice are all immediately eaten.
Additionally, the production of several processed goods, including morning cereals, baby food, soup, boxed mixes, etc., use rice and rice-derived products. The market is expanding as a result of the sharp rise in demand for rice-based goods, including noodles, cakes, and other items everywhere in the world.
As a result, numerous significant market players regularly introduce and provide new product varieties, which is projected to benefit the market's expansion. For instance, Lundberg Family Farms have developed salted caramel rice cakes. These rice cakes are created with real caramel and are vegan-friendly and free of artificial flavoring and chemicals.
A few of the key elements contributing to the market's success, aside from government assistance, include access to high-quality inputs, effective crop management techniques, and innovative technology. This help produce rice that is of high quality at harvest and has the potential to keep it that way throughout the milling process. Additionally, extremely effective logistics and transportation support the expansion of the market in North America. The rising desire for nutritious snacks among consumers is a major factor in the growth of the North American rice-based products market. Additionally, it is expected that increasing consumer disposable income and a growing preference for convenience foods would fuel market expansion in this region.
The US market dominated the North America Rice-based Products Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $57,182.6 Million by 2028.The Canada market is poised to grow at a CAGR of 7.7% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6.8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Rice-based Products Market is Estimated to reach $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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