The Global Rice Noodles Market size is expected to reach USD 12.87 Billion in 2030 and register a revenue CAGR of 14.1% over the forecast period, according to latest report by Reports and Data. Rapid growth of the food and beverage industry is a key factor expected to drive market revenue growth during the forecast period.
Increasing disposable income, together with an expansion in vegan eating habits, are expected to provide substantial growth prospects during the forecast period. In addition, the growing popularity of rice noodles as a rich source of critical minerals and vitamins is expected to present a multitude of prospects for growth. All of these factors are expected to contribute significantly to growth of the rice noodles market.
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Significant expansion in the food and beverage sector across the world is one of the key factors driving the market growth. Rice noodles are frequently served alongside other traditional Asian dishes, such as salads, soups, and stir-fries in hotels, cafes, and fast-food outlets. In addition, rice noodles are created utilizing the germ and bran of the rice and are a great source of essential vitamins and minerals that help in improving digestion. The increasing health awareness among the consumers could also be a driving factor for revenue growth of the market.
However, rice noodles are highly processed. These noodles contain high fat, calories, and sodium, and are mixed with artificial colors, additives, preservatives, and flavors. Manufacturers are spending a lot of money on R&D to achieve a healthier version of products without chemicals but this method is time-consuming and costly. Therefore, using preservatives and chemicals in rice noodles could inhibit market growth to some extent.
Market Overview:
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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Some of the Leading Market Players Are Listed Below:
· Thai President Foods Public Company Limited,
· Nasoya Foods USA, LLC,
· Toyo Suisan Kaisha, Ltd.,
· Nongshim Co., Ltd,
· McCormick & Company, Inc.,
· JFC International Inc.,
· Ying Yong Food Products,
· Nona Lim LLC
· Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Rice Noodles market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Rice Noodles market.
The global Rice Noodles market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation:
By Product Outlook
- Vermicelli
- Stick
- Wide
- Others
By Cooking Methods Outlook
- Instant Rice Noodles
- Conventional Rice Noodles
By Grade Source
- White Rice Noodle
- Brown Rice Noodle
By Distribution Channel Outlook
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Key Questions Addressed in the Report:
· What are the dominating factors that are influencing the growth of the industry?
· In the forecast period, which market segment is expected to rise the most?
· What are the risks and challenges that the industry is facing?
· In the coming years, which area is projected to dominate the market?
· Who are the major players in the market? What kind of strategic business plans have they made?
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