Significant growth in the food and beverage industry is the key factor driving market revenue growth
NEW YORK CITY, NEW YORK, USA, May 5, 2022 /EINPresswire.com/ — 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 the growth of the rice noodles market.
Significant expansion in the food and beverage sector across the world is one of the key factors driving the market growth. Rice noodles are frequently served alongside other traditional Asian dishes, such as salads, soups, and stir-fries in hotels, cafes, and fast-food outlets. In addition, rice noodles are created utilizing the germ and bran of the rice and are a great source of essential vitamins and minerals that help in improving digestion. The increasing health awareness among the consumers could also be a driving factor for revenue growth of the market.
However, rice noodles are highly processed. These noodles contain high fat, calories, and sodium, and are mixed with artificial colors, additives, preservatives, and flavors. Manufacturers are spending a lot of money on R&D to achieve a healthier version of products without chemicals but this method is time-consuming and costly. Therefore, using preservatives and chemicals in rice noodles could inhibit market growth to some extent.
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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.
• 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.
• 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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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)
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
Regional Outlook (Revenue, USD Billion; 2019-2030)
or Rest of Europe
or South Korea
or Rest of APAC
or Rest of LATAM
• Middle East & Africa
or Saudi Arabia
or South Africa
or Rest of MEA
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Key questions answered by the report
• What was the market size of global rice noodles market in 2021?
• What is the expected revenue Compound Annual Growth Rate (CAGR) of global rice noodles market over the forecast period?
• Which factors are expected to drive global rice noodles market revenue growth?
• Which region is expected to account for largest revenue share in global rice noodles market?
• Which are the key companies operating in the global market?
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