Rice Noodles Market in APAC 2017-2021
About Rice Noodles
Rice noodles are manufactured using rice and are typically popular in Eastern and Southeast Asian cuisines due to their texture, which is slightly springy and chewy. They have a delicate flavor that goes well with all kinds of sauces and seasonings. This variety of noodles is available in fresh, dried, or frozen forms, as well as in different shapes and thickness. The global noodles market is currently growing at a steady rate owing to factors like increasing demand for regional and ethnic flavors in noodles, increasing the popularity of Asian cuisines across the globe, growth in the organized retail sector, and others.
Technavio’s analysts forecast the rice noodles market in APAC to grow at a CAGR of 5.11% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the rice noodles market in APAC for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Rice Noodles Market in APAC 2017-2021
Technavio recognizes the following companies as the key players in the rice noodles market in APAC: Leong Guan Food Manufacturer, NISSIN FOODS, President Rice Products, THAITAN FOODS INTERNATIONAL, and THAI PRESERVED FOOD FACTORY.
Other Prominent Vendors in the market are: ACECOOK VIETNAM, BICH CHI FOOD JOINT STOCK COMPANY, J.D. Food Products (Kin Dee), MTR Foods, NONGSHIM, Penang Ah Lai White Curry Noodle, PT INDOFOOD SUKSES MAKMUR, Roland Foods, SA GIANG, The Kraft Heinz Company, Trident, VIFON (VIETNAM FOOD INDUSTRIES JOINT STOCK COMPANY), Win Chance Foods (Thasia), and Ying Yong Food Products.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is variety of flavors available in rice noodles. As taste is an important parameter for consumers to judge a brand, players are increasingly concentrating on possibilities to enhance the flavor of their product offerings. The variety of flavors in noodles is gradually becoming popular among consumers, and currently, many players are offering rice noodles with varied flavors.”
According to the report, one driver in the market is increasing demand for gluten-free products in APAC. The gluten-free food market is gradually increasing in APAC countries such as China and Australia owing to the increase in the number of health-conscious people and the rise in awareness about celiac diseases. There is no medication available currently to treat this disease, and the only way to avoid it is to switch to a gluten-free diet. Likewise, other factors such as the increase in the number of digestive health problems, weight management issues, and increasing requirement for nutritious food are propelling the demand for gluten-free food items.
Further, the report states that one challenge in the market is increasing launches of other varieties of noodles in APAC. The rice noodles market in APAC is increasingly facing challenges due to the large number of launches of other noodle varieties within the region. For instance, in 2017, Nestlé India launched MAGGI Masalas of India Noodles range with flavors like Amritsari Achari Masala Noodles, Mumbaiya Chatak Masala, Super Chennai Masala Noodles, and Bengali Jhaal Masala Noodles. In 2016, the company launched a new sub-brand of Maggi instant noodles, called Maggi Hot Heads, in four new flavors like peri, barbeque pepper, chili chicken, and green chili.
Leong Guan Food Manufacturer, NISSIN FOODS, President Rice Products, THAITAN FOODS INTERNATIONAL, THAI PRESERVED FOOD FACTORY, ACECOOK VIETNAM, BICH CHI FOOD JOINT STOCK COMPANY, J.D. Food Products (Kin Dee), MTR Foods, NONGSHIM, Penang Ah Lai White Curry Noodle, PT INDOFOOD SUKSES MAKMUR, Roland Foods, SA GIANG, The Kraft Heinz Company, Trident, VIFON (VIETNAM FOOD INDUSTRIES JOINT STOCK COMPANY), Win Chance Foods (Thasia), and Ying Yong Food Products.