Global Ready-to-Eat Rice Market Size will Reach $245.65 Million in 2023

Global Ready-to-Eat Rice Market Overview

According to Global Market Monitor, the global ready-to-eat rice market size will reach $245.65 million in 2023 with a CAGR of 11.51% from 2023 to 2028.Ready-to-eat rice refers to pre-cooked rice.

The Asia-Pacific Region Dominates the Market.

The Asia-Pacific region dominates the ready-to-eat rice market with amarket share of 71.39% in 2022. The growth in demand, the launch of more novel products, the influx of brands, and the upmarket of products are the factors boosting the market in this region. Consumers’ awareness of ready-to-eat rice is increasing. The convenience and time-saving features of these products are ideal for consumers with busy lives and tight schedules.

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. Changes in consumers’ food preferences, such as gluten-free, vegan, and sustainable packaging, add value to the market.

Market Trends

The growth of the ready-to-eat rice market is propelled by various driving factors. One of the primary factors is the global shift towards urbanization and a rise in the number of nuclear families. With both partners working, there's a clear preference for convenience foods that save time in many households. However, while consumers are looking for convenience foods, they are still concerned about food health issues, which is also driving companies in the ready-to-eat rice industry to ensure that their products are nutritionally balanced, free of harmful additives, and meet various dietary needs, such as gluten-free.

As global travel and cuisine become more accessible to the masses, consumers are looking to replicate these experiences in their everyday meals. As a result, ready-to-eat rice products inspired by global cuisine are making their way into consumers' sights. In addition to traditional cuisine, consumers are eager to try meals that are different such as Indian, Thai, and Italian meals. The interest in new products and ingredients is on the rise and is expected to drive positive growth for companies in the ready-to-eat rice industry.

S	Expanding consumer preference for individualized food Increase downstream demand Growing distribution channel
W	Fierce competition Food safety concerns from consumers
O	Growing opportunities in emerging markets, such as China, India, Brazil, the Middle East and Africa. Changes in people's lifestyle
T	Fluctuation price of raw materials Alternative products