Consumer demand for ready-to-eat rice is increasing and diversifying, 2023The annual global market size is 2456billion dollars
An overview of the global ready-to-eat rice industry
According to Bergers Consulting, the market size of the global instant rice industry in 2023 will be 24$5.6 billion, with a CAGR of 1151%。Ready-to-eat rice refers to pre-cooked rice, some of which can be heated in the microwave and eaten, while others are dehydrated so that the cooking process is convenient.
Asia-Pacific dominates the ready-to-eat rice market
Asia-Pacific dominates the ready-to-eat rice market with a market share of 7139%。Growing demand, the launch of more novelty products, the influx of brands, and the premiumization of products are the factors that are driving the growth of the market in the region. Consumer awareness of ready-to-eat foods is increasing, and products with convenience and short cooking times are ideal for consumers.
Countries such as China and India are leading the market growth, as the ready-to-eat rice market in these countries is growing strongly and has great potential. Changing consumer food preferences, such as gluten-free, vegan, and sustainable packaging, add value to the market.
The development trend of the instant rice industry
The growth of the ready-to-eat rice market is driven by various factors. One of the main factors is the global shift to urbanization and the increase in the number of nuclear families, many of which are where both spouses work, so convenience foods are more popular. However, while consumers are looking for convenience foods, they are still concerned about food health issues, which has also prompted companies in the ready-to-eat rice industry to ensure that their products are nutritionally balanced, free of harmful additives, and meet a variety of dietary needs, such as gluten-free, etc.
As global travel and food become more accessible to the masses, consumers expect to experience it in their daily diets. As a result, ready-to-eat rice products inspired by global cuisines are making their way into the minds of consumers. In addition to traditional cuisines, consumers are eager to try different meals from others, such as Indian, Thai, and Italian meals. Consumer interest in new products and ingredients is on the rise, which is expected to drive positive growth for businesses in the ready-to-eat rice industry.