Growing Popularity of Ready to Eat Meals Substantiated by Proliferating Increase in the Global Urban Population Aids the Ready to Eat Rice Market During the Projected Period of 2023-2028

The Ready to Eat Rice Industry is expected to grow at a CAGR of 10.3% over the forecast period of 2023-2028, to garner a market size equivalent to $2,777.8 million by 2028. Instant food products have become a common form of food product for consumption across the world, especially, in the western regions owing to increased awareness about labels and nutritional claims. Additionally, rice as a basic input provides a fulfilling nutritional component, that aids the manufacturers to easily push instant rice of various forms such as white rice, brown rice, Indian rice, Chinese rice and others into the market. Critically, product innovation from the manufacturers of Korea and Japan has aided market growth. Further innovations along the line of introducing newer inputs or ingredients help boost the proposition of instant rice as a whole.

Ready to Eat Rice Market Drivers

Substantial Demand Garnered by Instant Healthy Foods:

Nutritional and health claims have held a significant grip over consumer decision-making prowess. Moreover, manufacturers across the pre-cooked food class have continued to garner consumer interest by allowing newer input additions to proliferate the label claims. Additionally, to cater to the demand from individual regions, the addition of ingredients is made. For example, precooked rice is seasoned with salt and oil to cater to American tastes. As per BioMed Central 2020, approximately 36% of adults in the United States reported eating ready meals.

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Rapid Urbanization in Low- and Middle-income Countries:

Internet Penetration along with Urbanization as a trend has proliferated the overall demand for the market in low- and middle-income countries. Displacement of household individuals to different parts of the same country is extensively present in the LMIC region. As per We Forum.Org, nearly 56.2% of the world’s population is living in urban areas. As per the U.N. report, around 675 million of the Indian population would live in urban cities by 2035, behind China at 1 billion by 2035.

Product Launch

In August 2022, Riviana Foods Inc added Minute Rice Cups to the product offerings with the launch of two new varieties Jalapeno Rice and Jasmine Rice and Red Quinoa. In May 2022, Nissin Food Products Co launched instant rice and instant noodles under the label of complete nutritious foods.

The Major Players in the Market

The Major Players in the Ready to Eat Rice Market include Conagra Brands, Maruha Nichrio, CJ ChelJedang, Ajinomoto Group, Tiger Brands, Puluone, Tesco, MTR Foods, Ebro Foods and Nomad Foods.