Rice flour is made from finely milled rice. Rice flour is nutritious and is extensively used to make fresh rice noodles and sweets. It is also used to in various other applications, including to thicken coconut milk to reach a smooth and creamy consistency.
On the basis of application, the global rice flour market is segmented into bakery and confectionary, breakfast solutions, and baby food. The baby food segment is anticipated to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, bakery and confectionary segment is projected to witness moderate growth over the forecast period.
Increasing health consciousness and growing preference for leading healthier lifestyles among individuals are major factors driving growth of the global rice flour market. But, fluctuating costs is a major factor hampering growth of the global rice flour market.
The global rice flour market report has been segmented on the basis of by source, type, application, sales channel, and region. On the basis of region, the global rice flour market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in Asia Pacific accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to increasing per capita consumption and growth in rice production in the region. Revenue from the market in Europe accounted for second-highest share and is closely followed by the markets in North America, Latin America, and Middle East & Africa respectively. This is attributed to increasing consumption of bakery and confectionary products and decreasing average selling price of flour products in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global rice flour market include Associated British Foods PLC, Ebro Foods, S.A., Ingredion Incorporated, Archer-Daniels Midland Co., Wilmar International Limited, General Mills, Inc., Bunge Ltd., Whitworth Bros. Ltd., The Soufflet Group and, Shipton Mill Ltd.