The rice flour market potential growth difference is likely to reach USD 339.63 million from 2021 to 2026, as per the latest market analysis report by Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 3.66% during the forecast period, according to Technavio. The increasing awareness about gluten-free products is notably driving the rice flour market growth, although factors such as price volatility of grains due to weather conditions may impede the market growth.
- Bakery And Confectionery: The bakery and confectionery application segment held the largest rice flour market share in 2021. The segment will continue to account for the highest share throughout the forecast period. The demand for rice flour has increased because of the higher demand for healthy flour from bakeries and ready-to-eat food manufacturers. This is due to the increasing number of health-conscious consumers who expect pizzas, burgers, and other fast foods to contain healthy flour alternatives in the doughs.
- Breakfast Foods
- Baby Food
- APAC: 64% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the rice flour market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growing demand for convenience and ready-to-eat foods will facilitate the rice flour market growth in APAC over the forecast period.
- North America
- South America
- Middle East And Africa
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ardent Mills LLC, Associated British Foods plc, Bangkok Inter Food Co. Ltd., Belourthe SA, Bobs Red Mill Natural Foods Inc., Burapa Prosper Co. Ltd., Caremoli SpA, General Mills Inc., Ingredion Inc., Koda Farms Inc., Kroner Starke GmbH, Lieng Tong Rice Vermicilli Co. Ltd., Pornkamon Rice Flour Mills Co. Ltd., Shree Bhagwati Flour and Foods Pvt. Ltd., Thai Flour Industry Co. Ltd., The Hain Celestial Group Inc., The Soufflet Group, Wai Yee Hong Ltd., Whitworth Bros. Ltd., and Woodland Foods Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Some of the companies in the market are engaged in launching innovative solutions and products to meet the evolving end-user requirements. For instance, Burapa Prosper Co. Ltd. offers rice flour namely, Finest rice flour, which has a high starch content and contains hypoallergenic proteins. Associated British Foods plc offers gluten-free rice flour which is able to provide very specific functionality based on the amylose to amylopectin starch composition ratio. Caremoli SpA offers rice flour under the brand name, Carerice.
Read more of the latest industry news and developments here: April 2022 Single Issue form – International Confectionery Magazine (in-confectionery.com)