The global Rice Noodles Market size is expected to reach USD 12.87 Billion in 2030 and register a revenue CAGR of 14.1% over the forecast period, according to latest report by Reports and Data. Rapid growth of the food and beverage industry is a key factor expected to drive market revenue growth during the forecast period.
Increasing disposable income, together with an expansion in vegan eating habits, are expected to provide substantial growth prospects during the forecast period. In addition, the growing popularity of rice noodles as a rich source of critical minerals and vitamins is expected to present a multitude of prospects for growth. All of these factors are expected to contribute significantly to growth of the rice noodles market.
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Key Players:
Companies profiled in the global market report include Thai President Foods Public Company Limited, Nasoya Foods USA, LLC, Toyo Suisan Kaisha, Ltd, Nongshim Co., Ltd, McCormick & Company, Inc., JFC International Inc., Ying Yong Food Products, Nona Lim LLC, Annie Chun’s, Inc., Lotus Foods Inc., Embridge Foods, Inc., Leong Guan Food Manufacturer Pte Ltd., Nissin Food Products Co., Ltd, and JD Food Products Pvt Ltd.
Some Key Highlights in the Report:
- Brown rice noodles segment is expected to expand at a steady CAGR during the forecast period owing to the growing health consciousness among consumers. Moreover, the launch of new products by major companies could also be a driving factor for revenue growth of this segment.
- The online segment is expected to register a fast revenue growth rate during the forecast period owing to increasing trend of ordering through e-Commerce channels during the COVID-19 pandemic, which allows people to maintain social distancing.
- North America is expected to register a steady revenue CAGR during the forecast period owing to increasing number of Asian restaurants and expanding immigration of the Asian community to the US, Canada, and Mexico.
- In February 2021, JFC International Inc. signed a deal to create a joint venture company, which would be the franchisee for “Yoshinoya” in the Philippines. JFC will own 50% of the joint venture company. The remaining 50% of the venture will be owned by Yoshinoya International Philippines, Inc.
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Market Segmentation:
For this report, Reports and Data has segmented global rice noodles market based on, products, cooking method, source, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2019-2030)
- Vermicelli
- Stick
- Wide
- Others
Cooking Methods Outlook (Revenue, USD Billion; 2019-2030)
- Instant Rice Noodles
- Conventional Rice Noodles
Source (Revenue, USD Billion; 2019-2030)
- White Rice Noodle
- Brown Rice Noodle
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Reasons For Buying This Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- PEST analysis of the market in the five major regions.
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