Pune, India, July 18, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Rice Flour Market Size Report, Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Category, Application, and Geography,” the rice flour market is expected to grow from $1,100.47 million in 2022 to $1,655.82 million by 2030; it is estimated to grow at a CAGR of 5.3% from 2023 to 2030. The report highlights key factors driving the rice flour market growth and prominent players along with their developments in the market.
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The Asia Pacific rice flour market is segmented into China, India, Australia, Japan, South Korea, and the Rest of Asia Pacific. The growing influence of Western culture on consumers is influencing their food consumption habits. The young population consumes breakfast and quick meals in the form of bread, cookies, biscuits, pancakes, and other bakery products. Further, the demand for gluten-free bakery products is increasing as consumers are increasingly becoming health-conscious. Thus, the demand for rice flour is growing as it acts as a substitute. In addition, governments of various countries in Asia Pacific are taking various initiatives to develop wheat replacement solutions, thereby increasing the demand for rice flour. For instance, since April 2023, the government of South Korea has been working with 15 local food brands to develop a wide range of food products by using rice flour as a wheat replacement to enhance gluten-free food product options. These factors are anticipated to fuel the market growth in the region during the forecast period.
Moreover, India is one of the major rice-cultivating countries with a huge consumer base. The country benefits from favorable climatic conditions, enabling farmers to cultivate organic rice varieties without using harmful chemicals. Thus, the country's high production and consumption rate of rice flour is expected to fuel the market growth in the region in the coming years.
Rise in Awareness Regarding Nutritional Benefits of Rice Flour:
Rice flour is a healthy ingredient used in many food products such as bakery and confectionery, sweet and savory snacks, beverages, and baby foods. It comes in three varieties—medium & short grain, long grain, and pre-gelatinized. Rice flour is a rich source of vitamin C and contains antioxidants required for skin repair. Brown rice is a type of rice flour that contains vitamin B, high protein content, and more fiber and antioxidants, whereas white rice is a rich source of empty calories. The nutritional benefits of sourced rice boost the demand for rice flour among various food & beverage manufacturers. Choline, an essential nutrient for animals and humans, is found in rice flour. It aids in transporting cholesterol and triglycerides from the liver to the body. As a result, it has been linked to supporting liver health. Rice flour is rich in calcium content—10 mg in every 100 g of rice flour helps keep bones healthy. It helps maintain daily recommended intake levels when combined with other calcium-rich food, such as milk, cheese, tofu, and nuts. Hence, the increasing awareness regarding the nutritional benefits of rice flour among consumers is driving the market.
Global Rice Flour Market: Segmental Overview
The global rice flour market is segmented on the basis of type, category, application, and geography. Based on type, the rice flour market is bifurcated into white rice flour and brown rice flour. The brown flour segment is expected to register a higher CAGR during the forecast period. Unlike white rice flour, brown rice flour is made from whole-grain brown rice, retaining the bran and germ layers. As a result, brown rice flour contains higher levels of fibers, vitamins, minerals, and antioxidants than white rice flour. Increased awareness about the nutritional benefits of whole grains and the desire for healthier food options drive the demand for brown rice flour. Brown rice is naturally gluten-free and can be used in gluten-free baking and cooking as an alternative to wheat flour. Additionally, there has been a growing interest in whole foods and minimally processed ingredients as part of a healthy lifestyle. Brown rice flour, a whole grain product, aligns with this trend, and consumers might prefer it as a more nutritious option than refined flour. Also, brown rice flour is free from common allergens such as wheat, soy, dairy, and nuts. This makes it suitable for individuals with multiple food allergies or sensitivities. Furthermore, brown rice flour can be used in various culinary applications, including bakery, cooking, and thickening sauces. It can add a nutty flavor and a denser texture to recipes, enhancing the taste profile of dishes. All these factors are bolstering the brown rice flour market growth.
Based on category, the rice flour market is divided into organic and conventional. Based on application, the market is segmented into bakery and confectionery, beverages, sweet and savory snacks, baby food, breakfast cereals, and others. By geography, the global rice flour market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
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Impact of COVID-19 Pandemic on Rice Flour Market:
The COVID-19 pandemic affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The rice flour industry suffered severe disruptions in supply chains and shutdowns of many processing, wholesale, and smaller retail businesses in the initial phases of the COVID-19 pandemic. The COVID-19 pandemic hindered the supply chains, manufacturing, delivery schedules, and goods sales. Due to the imposition of lockdown measures to curb the spread of SARS-CoV-2, consumers stayed inside their homes and highly adopted ready-to-eat products. However, after some relaxation during the lockdown, rice flour sales surged. As a result, the demand for rice flour increased across the globe.
Global Rice Flour Market: Competition Landscape
The major players operating in the global rice flour market include PGP International Inc, Ebro Foods SA, Western Foods LLC, Ingredion Inc, CAREMOLI SpA, BELOURTHE SA, Kroner-Starke GmbH, Capitol Food Co, Ardent Mills LLC, Bay State Milling Co, Bob's Red Mill Natural Foods Inc, Gulf Pacific Rice Co Inc, Naturis SpA, Hometown Food Co, Koda Farms Inc, and Archer-Daniels-Midland Co. Players operating in the global rice flour market focus on providing high-quality products to fulfill customer demand. They also focus on strategies such as investments in research and development activities, new product launches, and expanding production capacities.
In April 2023, the Ministry of Agriculture, Food, & Rural Affairs (MAFRA), South Korea, moved to the next step of its national “Rice Product Development Project” by collaborating with 15 major local food and beverage firms. The ministry announced its plans to create 19 new rice-based products this year.
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