November 16, 2021 13:00 ET | Source: Fior Markets Fior Markets

Newark, NJ, Nov. 16, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global rice noodles market is expected to grow from USD 3.93 billion in 2020 and to reach USD 11.51 billion by 2028, growing at a CAGR of 14.37% during the forecast period 2021-2028.

The rising popularity of Asian food has been a major factor in the market's expansion. Rice noodles have become quite popular in other parts of the world. Fresh, frozen, and dried rice noodles in a variety of forms and textures are available, making it acceptable for individuals of all ages and ethnicities. The item's adaptability allows it to be used with a wide range of foods, spices, and sauces, further enhancing its renown. The fact that it does not include wheat flour and so is naturally gluten-free, making it ideal for persons with gluten sensitivity and celiac disease, is a crucial element boosting market growth. Rice noodles are also a healthier option to yellow egg noodles, and vegans and vegetarians like them. These products are also a good alternative for persons who are attempting to lose weight or regain control of their weight because they are full and have fewer than 100 calories per serving. Because the dry form contains oil to keep the noodles from sticking together, it is frequently favoured over the pre-cooked form.

Rice noodles, often known as rice noodle, are a type of rice-based pasta. The basic ingredients are rice flour and water. Substances like tapioca or maize starch are frequently added to improve the transparency or increase the gelatinous and chewy texture of the noodles. Rice noodles may be found in a variety of East Asian, Southeast Asian, and South Asian dishes. They are available fresh, frozen, or dried in a variety of shapes, thicknesses, and textures. Fresh noodles are perishable as well, with a shelf life of only a few days. During the Qin dynasty, when northerners dominated the south, rice noodles were developed. Due to climatic conditions, northern Chinese farmers have traditionally preferred cold-weather crops like wheat and millet, whereas southern Chinese farmers have preferred hot-weather crops like rice. Northern Chinese cooks experimented with producing "noodles" out of rice, culminating in the birth of rice noodles. Rice noodles and the technologies used to make them have expanded around the world throughout time, becoming especially popular in Southeast Asia. The shelf life can be extended by drying and removing the moisture content.

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Rice noodles are in high demand both locally and internationally at restaurants providing Cambodian, Burmese, Filipino, Indonesian, Lao, Malaysian, Thai, and Vietnamese cuisines. Asian cuisine, which was once thought of as tasty but inexpensive fast food, has transformed its image, and today's diners perceive it as a highly value meal owing to its complex taste, flavours, and health advantages. The number of people migrating from Asia has increased considerably in the previous two decades, fuelling industry expansion. The nations with the most Asian immigration are China, the Philippines, Vietnam, and South Korea. As a result, rice noodles are becoming more popular in the region.

Key players operating in the global rice noodles market include are Nongshim Co., Ltd., Nasoya Foods USA, LLC, McCormick & Company, Inc., Annie Chun’s, Inc., Natural Earth Products, Inc., Thai President Foods Public Company Limited, Nona Lim, LLC., Embridge Foods, Inc., Toyo Suisan Kaisha, Ltd. and Lotus Foods, Inc. To gain a significant market share in the global rice noodles market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

Vermicelli segment is anticipated to show the highest value of USD 4.17 billion in 2028

The product segment includes stick, vermicelli, wide. In 2028, the vermicelli rice noodles segment is predicted to show the highest value of USD 4.17 billion. Vermicelli's thin nature makes it ideal for rapid cooking and is frequently used in stir-fries, salads, and soups. In many Chinese provinces, it is a morning staple. The popularity of blended rice vermicelli noodles, which are manufactured from rice and a variety of other grains, is growing. These products also provide a more balanced nutritional profile and are thought to be better for digestion.

Online segment is anticipated to show the highest value of USD 4.74 billion in 2028

The distribution channel segment includes convenience stores, hypermarkets & supermarkets, online & d2c. In 2028, the online segment is predicted to reach its highest value of USD 4.74 billion. Due to an increased reliance on online platforms during the COVID-19 epidemic, which effectively forces individuals to exercise social distance, the sector is predicted to rise at a faster rate than other distribution channels. Furthermore, these platforms give many options from which to pick without having to spend an additional hour driving from one store to another.

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Regional Segment Analysis of The Rice Noodles Market

Based on geography, the global rice noodles market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America is expected to be the fastest-growing regional market and is expected to show the highest value of USD 3.02 billion in 2028. The rise of the regional market is fuelled by an increase in the number of Asian restaurants and an increase in Asian migration to Canada, the United States, and Mexico. The idea of quick rice noodles has also enticed a big number of Americans to try it. It is a viable diet option because to its ease of preparation.

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The global rice noodles market is analyzed based on value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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