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NEW YORK , Aug. 3, 2023 /PRNewswire/ -- The rice noodles market in APAC size is estimated to increase by USD 1,062.76 million from 2022 to 2027. The market's growth momentum will be progressing at a CAGR of 5.8%. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report. Request a sample report Rice Noodles Asian
Rice noodles market in APAC – Vendor Analysis Vendor Landscape - The rice noodles market in APAC is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer rice noodles in APAC in the market are Acecook Vietnam Joint Stock Co., Bich Chi Food Co., FodShop Pty Ltd., Foodle Noodle Co. Ltd., Greenature Grains and noodle Co. Ltd., Kenmin Foods Co. Ltd., Kikkoman Corp., King Soba , Leong Guan Food Manufacturer Pte Ltd., Lieng Tong Rice Vermicilli Co. Ltd., Molina and Sons Phils. Inc., Nongshim Co. Ltd., Q Phil International Trading, SA GIANG, Sapporo Products Inc., Suzhou Joywell Taste Co. Ltd., Thai President Foods Public Co. Ltd., Thaitan Foods International Co. Ltd., Vietnam Food Technology Joint Stock Co., and Woodland Foods Ltd. and others.
Rice Noodles Market In APAC - Segmentation Assessment Segment Overview Technavio has segmented the market based on product (Rice vermicelli, Rice stick, and others) and distribution channel (Retail and Food service).
Geography Overview The report provides actionable insights and estimates the contribution of key countries in APAC to the growth of the rice noodles market in APAC.
· China's rice noodles market is experiencing significant growth due to the high demand and wide variety of noodles available, along with the presence of numerous producers and the country's substantial consumption of rice and rice-based products. In 2022, China consumed approximately 150 million metric tons of rice, indicating a strong demand for rice and rice-based products in the country. Indica rice, mainly cultivated in the southern region, is the main variety used for manufacturing rice noodles, favored for its high yield and adaptability to local weather conditions. The popularity of rice noodles is further enhanced by the large presence of retail end-users, including rice vermicelli and rice stick varieties. Additionally, the food service sector in China is growing rapidly, leading to increased use of rice noodles in various cuisines, particularly in Chinese restaurants. These factors are expected to drive the growth of the rice noodles market in China during the forecast period.
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Rice Noodles Market In APAC – Market Dynamics Leading Drivers
The increasing demand for gluten-free products in APAC is driving the market growth. The gluten-free food market has seen significant growth in countries like China and Australia , primarily due to the increasing number of health-conscious individuals and growing awareness of celiac diseases. As there is no cure for celiac diseases, people rely on gluten-free diets to manage their condition. Additionally, the rising incidence of digestive health issues, weight management concerns, and the growing demand for nutritious food are driving the demand for gluten-free products. Health-conscious consumers increasingly prefer rice noodles as they are naturally gluten-free. These factors are expected to propel the growth of the rice noodles market in the APAC region during the forecast period.
The variety of flavors available in rice noodles is an emerging trend shaping the market growth. Prominent players in the market are increasingly focusing on enhancing the flavor of their rice noodle product offerings as taste plays a crucial role in consumer preferences. The growing popularity of various flavours of rice noodles among consumers has led vendors to innovate and introduce new flavours to capture the market. For example, Thai President Foods Public Co. Ltd. offers products like Instant noodles with Minced Pork Flavor Instant Rice Vermicelli WaiWai and Vineyard and Vinaigrette Instant Noodles Seasoning Rice Vermicelli WaiWai. Manufacturers of rice noodles are expected to continue innovating and introducing more flavours and products to meet consumer demands. These factors are anticipated to drive the growth of the rice noodles market in the APAC region during the forecast period.
The fluctuating raw material prices will be a major challenge hindering market growth. The fluctuating prices of raw materials are a key driver of the price of rice noodles. Additionally, the widening gap between supply and demand has contributed to increased raw material costs. The rise in prices of raw materials, such as plastic, has led to higher manufacturing costs for packaging, resulting in lower profit margins for vendors. Manufacturers are also exploring low-cost substitutes to maintain competitiveness in the market, which could potentially impact the quality of the product. These factors are expected to hinder the growth of the rice noodles market in the APAC region during the forecast period.
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The Global Rice Market size is projected to increase by USD 85.65 Mn T and the market size is estimated to decline at a CAGR of 3.6% between 2022 and 2027. In 2017 the size of the market was valued at 402.83 Mn T. This report extensively covers market segmentation by Product (long grain, medium grain, and short grain), Distribution Channel (offline and online), and Geography (APAC, Europe , North America , South America , and Middle East and Africa ). Rice is a staple food for more than half of the world's population.
The Global Noodles Market Size is projected to increase by USD 17,411.73 million accelerating at a CAGR of 5.65% between 2022 and 2027. This report extensively covers market segmentation by product (instant noodles, dried, and others), distribution channel (offline and online), and geography (APAC, North America , Europe , Middle East and Africa , and South America ). The increasing demand for regional and ethnic cuisines is a key factor driving the global noodles market growth.
Rice Noodles Market In APAC Scope
Accelerate at a CAGR of 5.8%
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Acecook Vietnam Joint Stock Co., Bich Chi Food Co., FodShop Pty Ltd., Foodle Noodle Co. Ltd., Greenature Grains and noodle Co. Ltd., Kenmin Foods Co. Ltd., Kikkoman Corp., King Soba, Leong Guan Food Manufacturer Pte Ltd., Lieng Tong Rice Vermicilli Co. Ltd., Molina and Sons Phils. Inc., Nongshim Co. Ltd., Q Phil International Trading, SA GIANG, Sapporo Products Inc., Suzhou Joywell Taste Co. Ltd., Thai President Foods Public Co. Ltd., Thaitan Foods International Co. Ltd., Vietnam Food Technology Joint Stock Co., and Woodland Foods Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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7 Market Segmentation by Distribution Channel
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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