Rice Flour Market Size, Investment Feasibility, Industry Growth Rate, Share, Overview, Forecast To 2023
Rice is gluten-free and so is used in several applications in gluten-free diet. In most of the applications, rice flour is used as a substitute to wheat flour and is also used as a thickening agent. It is considered as an important source of minerals, fibers, vitamins and proteins. Increasing health awareness and growing preference for leading healthier lifestyle among individuals are major factors driving the growth of global rice flour market. Rice flour is nutritious and is extensively used as an ingredient in foods such as breakfast cereals and premixes. Additionally, rice is the staple food for most of the population around the globe.
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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 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.
Some of the key players in the Global Rice Flour Market 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).
Market Scenario and Key Restraints
Based on Source, the global Rice Flour Market 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 high fiber content in the white rice flour. High-fiber foods helps body to eliminate waste and helps lowering the cholesterol levels in the body. Additionally, the factors such as availability and high preference for white rice flour in Asia Pacific is 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 rice flour market is segmented, on the basis of application, the market is segmented into bakery & confectionary, breakfast cereals and premixes, baby foods, sweet & savory snacks and others. Bakery & Confectionary segment is expected to account for major share in the market, due to usage of rice flour as a substitute to wheat flour.
Based on region, the global rice flour market has been segmented by North America, Europe, Asia-Pacific, and RoW. 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.
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The 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.