Instant Rice market size, share & industry analysis, By Type (White Rice, Brown Rice), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail) and regional Forecast, 2024-2032

Instant rice is the rice that has been precooked or processed, which makes them easier to cook. The instant rice takes lesser time to cook compared to the regular rice and thus, it helps in saving cooking time. The instant rice was originated in America and today it is widely produced across the globe. Instant rice has become very popular internationally and is consumed in several developed and emerging economies. Japan is one of the key producers and consumers of instant rice and according to a data by Japanese publisher Nippon Communications Foundation, in 2017, the instant rice production in Japan was 188,875 tons. Furthermore, the instant rice meets the needs of elderly and single-person households as it requires simple heating prior consuming and is also available in convenient one-size servings. These benefits aids in its market growth.

Factors such as rising consumer demand for innovative and healthier food products, short cooking time, and convenience boosts the demand for instant rice. In addition to this, manufacturers are focusing to launch new products with added vitamins, calcium and other minerals to draw the consumers’ attention. These factors have fuelled its market growth.

The consumption of instant food products has increased in recent years which has positively aided in the instant rice market growth. The consumers are pacing towards hectic lifestyles and keeping the work-life balance is one of the major concerns growing worldwide. Also, the busy and fast-paced life of the consumers have nudged them to shift to instant or ready-to-eat food products as it saves their time in cooking.

Instant food products have become popular as they offer various benefits such as convenient cooking; they are widely available in the stores and have longer shelf life. These factors have cumulatively aided in the instant rice market growth. However, comparatively higher price of instant rice and low nutritional value than regular rice restraints the growth of the market.

Key Players Covered:

The key companies operating in the global instant rice market are, Riviana Foods Inc., Mars, Incorporated, Producers Rice Mill, Inc., Satake Corporation, Nissin Food Products Co. Ltd., QVC FOODS, J.D. Food Products Co. Ltd., KOREA BIO PLANT CO., LTD., Riceland Foods, Inc., and American Rice Inc.

The instant rice market is segmented by type, distribution channel, and geography. The white rice type is accounted for holding the major market share owing to its wide consumption as it’s a good source of energy due to its high carbohydrate content. Many athletes and fitness enthusiast consume white rice to replenish the depleted glycogen content in the body and fulfil the adequate supply of macronutrients after extreme workouts. Also, consumers have high preference for white rice as they are easily available as well as cheaper than the brown rice.

The hypermarkets and supermarkets are the leading purchasing landscape and are majorly responsible for the sales growth of instant rice. The rapid emergence of these mass merchandisers in various developing countries such as India and China facilitate the decent sales performance of instant rice. The mass merchandisers offer a wide range of products in different price and brands, which provides numerous options to the consumers. Further, they also provide an enhanced convenience, attractive schemes, bundling offers, and convenient shopping experience to the buyers under the single roof along with all the home groceries.

Regional Analysis:

Asia Pacific is the fastest-growing region for the instant rice market due to the presence of countries such as China, India and Japan which are the key producers and consumers of rice in the world. In addition, the region offers significant potential due to its large consumer base and favourable climatic conditions for rice production, especially in India and China. The willingness to spend more on such convenient food product as well as the rise in disposable income have further, boosted the regional market growth.

North America is expected to witness a significant growth in the forthcoming years, owing to the consumers increasing demand for convenience foods and the growing growth of convenience and ready-to-eat food sector. The changing dietary patterns and increase in adoption of cross-culture food trend has fuelled the instant rice market growth in the region.

Europe is anticipated to witness a rapid growth in the upcoming years, attributed to the consumers growing inclination towards Asian cuisines and the hassle-free option offered by the instant rice. The instant rice has grown popular among the consumers due to their increase in awareness about the fortified rice and its perceived health benefits. This has supported its regional market growth.

Segmentation

Key Industry Developments

• In November 2019, Riviana Foods Inc. expanded its production capacity of Minute brand of microwaveable rice at its plant in Memphis. This expansion is expected to double the output facility to improve its ready-to-serve production capabilities at the 40,000 square-foot processing and packaging plant.


• In September 2018, Riviana Foods Inc. added a new product to its instant rice brand Minute, with jasmine variant. The company launched this new variant in response to the growing consumer demand for aromatic rice.