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According to the latest market report published by Transparency Market Research titled ‘Rice Flour Market’: Global Industry Analysis and Forecast 2017-2025’, the revenue generated from rice flour exceeded a value of US$ 712.9 Mn in 2017, which is projected to increase at a CAGR of 4.4 percent during the forecast period (2017-2025).
Rising health concerns among people and the increasing need for a gluten-free diet are accelerating the demand for naturally gluten-free products, including rice flour. Growing awareness about adverse health conditions due to excess gluten consumption is an important factor driving the global rice flour market. Established markets for gluten-free or pre-gelatinised rice flour will continue to thrive in near future, according to Transparency Market Research’s recent study.
“Global revenues of rice flour, evaluated at US$ 712.9 Mn in 2017, are expected to rise up to US$ 1,003.1 Mn by the end of 2025. The overall growth will be moderate at a CAGR of 4.4 percent over 2017-2025,” said a research analyst, Transparency Market Research.
Soaring demand for healthier, improved, easy-to-cook, and ready-to-eat foods is favouring sales of baked foods and snack products. Moreover, busier lifestyle of consumers worldwide is popularising baked goods and other products that can be consumed on-the-go. The exploding baking industry is thus preferring rice flour over other flours, which is likely to create a heap of opportunities for flour manufacturers in near future. Volatile pricing of crops due to uncertain climatic conditions and seasonal variations will however continue to hamper the market growth during forecast period. Frequent fluctuations in energy, chemicals, and fertilisers prices will also remain a major restraining factor affecting the global market for rice flour, the report says.
According to the report, by source, the global rice flour market will remain dominated by white rice but brown rice is slated to witness growing popularity over the forecast period. Based on the type, medium and short grain segment is likely to witness the highest and fastest growing sales. On the basis of origin, conventional segment has been larger than organic and registered over 90 percent revenue share in 2017. By application, rice flour will continue maximum consumption by bakery and confectionary segment, and breakfast solutions is likely to represent the most lucrative application segment by 2025 end. In terms of sales channel, direct sales will reportedly continue to win over indirect sales in near future.