Rice Flour Market Outlook
Rice flour is prepared by grinding rice kernels into coarse or fine powder. Rice Flour Market Share is used commonly as substitute to wheat flour, as wheat flour contains gluten. At the same time, rice flour is used in soups, sauces, and gravies as a thickening agent. Rice flour contains choline, it is required to maintain vital components of the membranes. Rice flour is used in the preparation of bakery products, rice noodles and deserts. All these factors are expected to drive the Rice Flour Market in near future. The Rice Flour Market size was valued at USD 1090.7 million with a CAGR of 7.5% during the forecast period 2020-2028.
Based on region, the global rice flour market has been segmented by North America, Europe, Asia-Pacific, and Row. The Asia Pacific is expected to dominate the global rice flour market owing to the increasing prevalence of gluten intolerance and celiac disease, especially in Australia and Japan. Moreover, rice is considered a staple food in most parts of Asia Pacific such as China, India, Japan, Indonesia, and Thailand, which is also driving the growth of the regional rice flour market.
The organic rice flour market in North America is expected to grow rapidly due to the increasing adoption of healthy, gluten-free diets by the rising health-conscious population. Emerging markets such as US and Canada are projected to contribute to the growth of the regional rice flour market.
Rice Flour Market Revenue has been growing due to its gluten-free properties. The increasing prevalence of celiac disease and rising adoption of gluten-free diet is resulting in manufacturers substituting ingredients high in gluten with rice flour. Moreover, the health benefits of rice flour have attracted the attention of the health-conscious consumers.
Based on the source, the global rice flour market size has been segmented into white rice and brown rice. The white rice flour segment accounted for the maximum market share in 2017 and is expected to grow at a higher rate during the forecast period due to the high fiber content in the white rice flour. High-fiber foods help the body eliminate waste and help lowering cholesterol levels in the body. Additionally, the factors such as availability and high preference for white rice flour in the Asia Pacific are expected to boost the market during the forecasted period. Brown rice flour is mainly preferred in North America, South America, and Europe. Therefore, the brown rice flour segment is expected to account for a substantial share in these markets during the forecast period.
The global market for rice flour has also been classified, by category, into organic and conventional. The conventional segment is expected to dominate the market due to the widespread use of conventional rice flour in the preparation of bakery & processed food products. However, the organic segment is expected to grow at a higher CAGR during the forecast period owing to increasing preference and high inclination of consumers towards organic products. The awareness of the benefits of organic products is increasing among the consumers which is expected to drive the growth of the organic segment in the market.
The global target rice flour market analysis is segmented, based on application, the market is segmented into bakery & confectionery, breakfast cereals and premixes, baby foods, sweet & savory snacks, and others. Bakery & Confectionary segment is expected to account for a major share in the market, due to the usage of rice flour as a substitute for wheat flour.
Some of the key Rice Flour Market Players in the global are Associated British Foods PLC (UK), Ebro Foods, S.A. (Spain), Ingredion Incorporated (US), Archer-Daniels-Midland Co. (US), Wilmar International Limited (Singapore), Bunge Ltd. (US), Whitworth Bros. Ltd. (UK), The Soufflet Group (France), Shipton Mill Ltd. (UK), KRÖNER-STÄRKE GmbH (Germany), Belourthe SA (Belgium), Bressmer & Francke (Gmbh & Co.) KG (Germany), and EDME Food Ingredients Limited (UK).
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Frequently Asked Questions (FAQ):
What is the Segment of Rice Flour Market?
- Segments Covered By: By Source, By Category, By Application, and By Region
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