Rice Cake Market Size, Swot analysis, Business Growth and Driver by 2035
The global rice cake
market is poised for significant expansion, with a new market forecast
projecting its value to grow from USD 12.7 billion in 2025 to USD 16.6 billion
by 2035, exhibiting a Compound Annual Growth Rate (CAGR) of 2.7%. This robust
growth is primarily fueled by a rising global emphasis on health, an increasing
demand for low-calorie snacks, and a strong consumer preference for gluten-free
and clean-label food products.
Consumers are actively seeking healthier alternatives to traditional snacks,
and rice cakes have emerged as a versatile, nutritious, and light option. Their
adaptability to various flavors further enhances their appeal, positioning them
as a staple in the evolving healthy snacking landscape.
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Market Dynamics and Segment Leadership
The market's expansion is deeply integrated within its parent industries,
accounting for approximately 4% of the global gluten-free food market and 3% of
the healthy snacks market. Its contribution to the low-calorie food segment is
nearly 3%, while its share in the functional food market stands at about 2%,
reflecting its perceived nutritional benefits.
Puffed rice cakes are set to dominate the type segment, projected to capture a
substantial 65% market share by 2025. Their light texture, lower calorie count,
and widespread availability make them a popular choice. The demand for
easy-to-digest, gluten-free snacks is a key driver for this segment's popularity
across diverse consumer demographics, further boosted by their compatibility
with various sweet and savory toppings.
In terms of flavor, chocolate is anticipated to lead with a 28% market share by
2025. This dominance stems from its universal appeal, indulgent taste, and its
ability to align with the trend of healthy yet satisfying snacks, offering
consumers a guilt-free indulgence. Conventional rice cakes will continue to
hold the largest share in the nature segment, with 90% by 2025, driven by their
affordability and broad market presence. Hypermarkets and supermarkets are
expected to remain the leading distribution channel, commanding a 35% global
market share by 2025, due to their extensive product variety and high consumer
footfall.
Regional Growth Hotspots and Competitive
Landscape
East Asia is identified as a key growth region, with Japan spearheading this
expansion as the fastest-growing developed market, projected to expand at a
robust 4.1% CAGR from 2025 to 2035. Japan's market momentum is deeply rooted in
its traditional snack culture, particularly the cultural significance of mochi,
coupled with a growing demand for gluten-free products and innovation in
mochi-based offerings. This cultural connection provides a unique competitive
advantage.
Other developed economies, including the USA (1.8% CAGR), Germany (2% CAGR),
France (1.9% CAGR), and the UK (1.7% CAGR), are also set for steady growth.
Germany and France show consistent demand driven by clean-label awareness and
healthy eating trends. The United States market is uniquely shaped by demand
for gluten-free, low-carb diets, and portable snacking, especially in
fitness-conscious urban areas. The UK's growth is supported by allergen-free
and plant-based trends, with a rising interest in smaller pack formats.
The global rice cake market is moderately consolidated, featuring prominent
players such as Quaker Oats Company, Mars Incorporated, Element Snacks Inc,
Lundberg, and Tastemorr Snacks. These industry leaders are actively innovating
to cater to health-conscious, gluten-free, and low-calorie segments. Quaker
Oats is recognized for its classic puffed and multigrain options, while Element
Snacks Inc specializes in indulgent flavored varieties. Lundberg focuses on
organic and non-GMO offerings, appealing to clean-label consumers.
A significant recent development in the competitive landscape is Mars,
Incorporated's announced acquisition of Kellanova in August 2024. This
strategic move is expected to significantly strengthen Mars' portfolio across
snacking, cereals, plant-based foods, and frozen breakfast categories,
enhancing its global footprint and competitive position in consumer packaged
goods. Other key players like Riso Gallo, Wangwang, General Mills Inc, Kellogg
Co, and Ricegrowers Ltd also contribute significantly, offering specialized
products across various global markets.
Despite the positive outlook, the market faces challenges such as the
perception of rice cakes being bland or dry, and the shorter shelf life of
organic and preservative-free options, which can impact distribution. However,
continuous innovation in flavors and product formulations, including organic,
multigrain, and allergen-free varieties, is addressing these challenges and
expanding consumer interest.
Government regulations, including those from the FSSAI, FDA, and EFSA, play a
crucial role in shaping the market, focusing on food safety, nutritional
labeling, and allergen disclosure. Certifications for organic, non-GMO, and
gluten-free products are increasingly vital, driving the industry towards
compliant and consumer-aligned offerings.
As consumers continue to prioritize health and wellness, the global rice cake
market is well-positioned for sustained growth, driven by innovation, strategic
market segmentation, and a strong alignment with evolving dietary preferences.
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