Global Brown Rice Market 2019-2023 | Increasing Product Launches to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Dec 3, 2018-- analysts forecast the global brown rice market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global brown rice market for the period 2019-2023. (Graphic: Business Wire)
The emergence of quick cooking brown rice is one of the major trends being witnessed in the . Brown rice is considered a superfood due to its multitude of nutritional and health benefits and has hence witnessed an increasing growth in sales among the health-conscious urban consumers. However, one of the primary concerns of cooking brown rice is the time it takes to cook. Due to the presence of bran layers on brown rice, it takes time to soak the water and hence takes longer to cook. This deters its adoption among time-pressed consumers. Thus, many vendors are introducing brown rice that can be cooked swiftly. These include ready-to-cook brown rice and ready-to-eat brown rice that does not take much time to get cooked. For example, Riviana Foods’ Minute Ready to Serve Rice products are fully cooked and need only 60 seconds to heat and serve. These product innovations are expected to augment the growth of the market as these products solve one of the primary concerns of cooking brown rice.
According to Technavio analysts, one of the key factors contributing to the growth of the global brown rice market is the increasing product launches:
Global brown rice market: Increasing product launches
Over the years, the global brown rice market has witnessed many product launches. The launch of different brown rice products in various retail channels such as supermarkets, hypermarkets, and online stores increases awareness of brown rice products and their benefits. This growth in the availability of brown rice products drives their sales, globally. For instance, in August 2017, Empire Bespoke Foods LAUNCHED Rice Up!, a range of whole grain, brown rice snacks in three formats, traditional rice cakes, rice rolls, and rice chips.
According to a senior analyst at Technavio for research on food, “Along with the increasing product launches, the innovations taking place in packaging is one other factor that is expected to boost the growth of the market during the forecast period. As, good packaging provides protection and tamper-resistance and plays a key role in the sale of brown rice in terms of retaining the flavor, taste, product quality, color, texture, and shelf life. Due to these aspects, many vendors are seen developing advanced packaging technologies for their products in collaboration with third-party packaging manufacturers.”
Global brown rice market: Segmentation analysis
The global brown rice market research report provides market segmentation by product (brown basmati rice and sweet brown rice), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The APAC region held the largest share of the market in 2018, accounting for close to 80% share, followed by the Americas and EMEA respectively. However, during the forecast period, the Americas is expected to register the highest incremental growth, followed by the EMEA region.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 12/03/2018 09:58 AM/DISC: 12/03/2018 09:58 AM