NEW YORK, March 31, 2021 /PRNewswire/ -- The packaged rice snacks market in US is expected to grow by USD 58.2 million during 2020-2024, expanding at a CAGR of over 4%. The report throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect.
Consumers in the market are increasingly becoming health conscious. This is resulting in an increase in the consumption and demand for healthy snacks that are made of quality ingredients. To capitalize on the demand, vendors are introducing a wide range of snacks made using natural ingredients such as rice, owing to its high nutrient content. Therefore, the rising consumer demand for healthy snacks is expected to foster the growth of the global packaged rice snacks market during the forecast period.
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In this report, Technavio highlights the expansion of retail and online distribution landscape as one of the key emerging trends in the packaged rice snacks market in US.
Packaged Rice Snacks Market in US: Expansion of Retail and Online Distribution Landscape
Rapid urbanization and rising demand for on-the-go snacks have increased the demand for independent retailers in the US. This has fostered the growth of the retail industry, which led to a rise in the number of retail chain establishments. In addition, a majority of prominent retail chains such as Walmart Inc. (Walmart), Target Corp. (Target), and Tesco Plc (Tesco) have a separate retailing section for a wide range of packaged foods, including packaged rice snacks. This has increased the availability and consumption of packaged rice snacks, which is driving the growth of the market.
"Rise in the number of vendors on e-commerce platforms and new product launches will further boost market growth during the forecast period", says a senior analyst at Technavio.
Packaged Rice Snacks Market in US: Segmentation Analysis
This market report segments the packaged rice snacks market in US by product (rice cakes, RCCB, and rice crisps) and distribution channel (offline and online).
The rice cakes segment led the packaged rice snacks market in 2019. The dominance of the segment can be attributed to the emergence of organic varieties of rice cakes.
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Related Reports on Consumer Staples Include:
Global Frozen Snack Food Market – Global frozen snack food market is segmented by product (bakery products, meat substitutes, appetizers; meat, and poultry and seafood; and vegetables and fruits) and geography (APAC, Europe, MEA, North America, and South America).
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Global Packaged Fruit Snacks Market – Global packaged fruit snacks market is segmented by Product (Sweet and savory packaged fruit snacks, Beverage-type packaged fruit snacks, Dairy-type packaged fruit snacks, and Others) and Geography (North America, Europe, APAC, South America, and MEA).
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
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Report: www.technavio.com/report/packaged-rice-snacks-market-in-US-industry-analysis
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