At 4.7% CAGR, the Asia Pacific Rice Flour Market is projected to be worth US$ 626.43 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific rice flour market was valued at US$ 453.89 million in 2023 and is expected to reach US$ 626.43 million by 2030, registering a CAGR of 4.7% from 2023 to 2030. Strategic initiatives by key market players and governments and growing demand for organic rice flour are among the critical factors attributed to the Asia Pacific rice flour market expansion.        

Rice flour manufacturers worldwide are investing significantly in strategic development initiatives such as product innovation, mergers & acquisitions, and business expansion to attract consumers and enhance their market position. In October 2021, Cargill launched a rice flour-based maltodextrin substitute, which can be used as a one-to-one replacement for maltodextrin and can also improve mouthfeel.

With the increasing awareness regarding the benefits of a gluten-free diet, consumers are adopting products with gluten-free ingredients. To cater to the demand from consumers, manufacturers are incorporating healthy and gluten-free ingredients into their products. Moreover, governments of various countries are taking significant initiatives to develop products with rice flour as a major ingredient. For instance, in April 2023, the Ministry of Agriculture, Food, & Rural Affairs (MAFRA), South Korea, moved to the next step of its national ‘Rice Product Development Project’ in collaboration with 15 major local food and beverage firms and is planning to create 19 new rice-based products this year. Thus, product launches and supportive initiatives by government bodies are influencing the growth of the rice flour market.

On the contrary, fluctuating prices hampers the Asia Pacific rice flour market.  

Based on type, the Asia Pacific rice flour market is bifurcated into white rice flour and brown rice flour. The white rice flour segment held 66.6% share of Asia Pacific rice flour market in 2023, amassing US$ 302.50 million. It is projected to garner US$ 413.73 million by 2030 to expand at 4.6% CAGR during 2023–2030.   

Based on category, the Asia Pacific rice flour market is segmented into organic and conventional. The conventional segment held 82.0% share of Asia Pacific rice flour market in 2023, amassing US$ 372.28 million. It is projected to garner US$ 507.98 million by 2030 to expand at 4.5% CAGR during 2023–2030.

Based on application, the Asia Pacific rice flour market is segmented into bakery and confectionery, beverages, sweet and savory snacks, baby food, breakfast cereals and others. The bakery and confectionery segment held 33.2% share of Asia Pacific rice flour market in 2023, amassing US$ 150.60 million. It is projected to garner US$ 204.44 million by 2030 to expand at 4.5% CAGR during 2023–2030.

Based on country, the Asia Pacific rice flour market has been categorized into the Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 37.0% share of Asia Pacific rice flour market in 2023. It was assessed at US$ 167.71 million in 2023 and is likely to hit US$ 221.30 million by 2030, exhibiting a CAGR of 4.0% during 2023–2030.

Key players operating in the Asia Pacific rice flour market are Ebro Foods SA, Ingredion Inc, Kroner-Starke GmBH, Naturis SpA, and Archer-Daniels-Midland Co, among others.

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