Huge Growth and Opportunities in Global Rice Flour Market Till 2025
Rice flour is a natural gluten free product. And rising awareness about the adverse impact on health of excess gluten is majorly driving the market. The TMR report predicts that the markets for gluten-free or pre-gelatinized rice flour will continue to soar in the near future as well. Adds the lead analyst of the report, “Rice flour, as a gluten-free flour, is finding increasing applications in many easy-to-cook or ready-to-eat products. Such products are seeing rising sales because of the busy lifestyle of people and their growing spending capacity. This in turn is expected to have a positive impact on the rice flour market.”
The TMR report observes that rice flour is finding application in myriad food products such as breakfast solutions, bakery and confectionery, baby food, and others. Among them, bakery and confectionary products are driving maximum demand in the market. Currently, direct sales are responsible for generating most of the revenue in the market.
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A report on the rice flour market worldwide by Transparency Market Research finds that it would rise at a steady 4.4% CAGR during the forecast period starting from 2017 and ending 2025. Rising at this pace, the market’s value is expected to become US$1003.1 mn by 2025-end from US$ 712.9 Mn in 2017
Rice flour is obtained from either brown rice or white rice. Between the two, white rice accounts for a larger share in the revenue. Geographically, key segments of the rice flour market are Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Among them, Asia Pacific is predicted to hold a dominant position both vis-à-vis value and volume. By the end of 2025, the market in the region is also expected to gross maximum revenue because of the rising uptake of rice flour as a staple food. Apart from the oriental nations in Asia Pacific which are known to consume rice, New Zealand and Australia in the region are also expected see an impressive growth in their markets.
Popularity of Organic Rice Flour Spells Opportunity for Market
A noticeable trend in the rice flour market is the growing popularity of organic rice flour which is gotten from rice grown without the use of harmful synthetic fertilizers, pesticides, chemicals, or other harmful substances. The market for organic rice flour is particularly large in North America and Western Europe.
Posing a challenge to the rice flour market, on the other hand, is the climatic uncertainty affecting crop produce, which is turn is leading to price volatility. In addition, fluctuating costs of chemicals, energy, and fertilizers are also negatively impacting the market. To tide over the problem, players are seen trying to improve operational efficiencies.
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Given the low entry barriers owing to less upfront capital required, the rice flour market has several companies operating in it. Some of the prominent ones among them are Ebro Foods, S.A., Associated British Foods PLC, Ingredion Incorporated, Wilmar International Limited, Archer-Daniels Midland Co., General Mills, Inc., and Bunge Ltd.
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