According to recently released market intelligence report by Bekryl, Worldwide Rice Flour Market value stood at USD 727 million in 2018. It is largely seen as good substitutes to wheat flour owing to their gluten free characteristics. Also it is widely recognized as a thickening agent. consumption of rice flour has increased not only in developing regions but also developed economies. There are many players operational in the segment, majority of which have local presence and operates through lower workforce. These companies primarily operates on regional level and meets the consumer demand locally. Leading companies are primarily emphasizing on well distribution networks and pricing differentiation. The competition will increase with rise in demand.
South East Asia to Dominate the Global Consumption of Rice Flour
The report states that sales will be high in ASEAN, China and Indian subcontinent. 67% of global sales is concentrated in these regions. The region is characterized by presence of large number of midsize companies having their local presence. Furthermore, good supply is also seen as major driver to overall demand for rice flour in the region. The region dominates the global production along with global consumption.
Western Europe is another key region for rice flour industry players. NORDIC and BENELUX registered highest consumption of rice flour in 2017. The trend is likely to be seen in 2018 and 2019.
Some key players are:
Bob’s Red Mill Natural Foods
Hain Celestial Group