Europe And Asia Rice Noodles Market To Hit Value $3.6 Billion By 2022 |Grand View Research, Inc.



Europe & Asia rice noodles market is expected to reach USD 3.6 billion by 2022, according to a new report by Grand View Research, Inc. Rural area in countries such as India is still untapped and has very high potential for growth. Rising penetration of rice noodles owing to availability of smaller sized packs at lower prices is expected to present a lucrative opportunity for growth.

Rice noodles contains low salt, negligible amount of fats and minimum additives, which is expected to make it a healthier alternative to other instant noodles including wheat flour, potato starch and cassava starch. Its demand has witnessed significant growth over the past few years on account of rising disposable income coupled with growing focus on maintaining a healthy lifestyle.
Companies including Acecook Vietnam and Nissin Foods dominated the industry through their extensive retail channels and wide distribution networks. Distribution channel plays an important role in this industry, as development of the product depends upon product visibility and positioning. Companies including President Rice Products Public Company Limited and Trialia Foods Australia sell their products under private label brands. Private label brands have increased over the past few years and will continue to grow on account of increasing consumer need for convenience food products.
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Manufacturers in Vietnam and Thailand are exploring new opportunities in Europe owing to growing consumer needs in the region which has resulted in the expansion of distribution channels and enhancement of the supply chain. These noodles are expected to witness wider consumer acceptance on account of it being a healthy substitute for other instant and plain noodles.
Further key findings from the report suggest:
  • Asia Pacific accounted for 69.3% of the global rice noodles market revenue in 2014. Rice is a staple food for several countries in the region including China, Vietnam, Indonesia, and Thailand. Therefore, rice-based food products will always remain popular among consumers in this region.
  • Europe has witnessed growth owing to changing eating habits of consumers coupled with growing population of Asian origin people. This has contributed to a growing number of Asian restaurants in countries such as Germany, U.K., and France. Increasing trend of takeaways and home deliveries for convenience food product is also an important feature for the popularity of the product. The market is expected to grow at a CAGR of 7.8% from 2015 to 2022.
  • Changing eating preference of consumers coupled with increasing availability of the product is expected to drive demand in Asia Pacific over the forecast period. China accounted for 19.8% of the global market revenue share in 2014.
  • In terms of revenue, Thailand was estimated as second largest market in the region in 2014 and accounted for 19.2% in the same year generating revenues exceeding USD 280.0 million. Thailand is expected to lose some of its share to Vietnam and India owing to significant development of the market in these countries.
  • The industry comprises large number of suppliers, distributors and retailers. Growth of the retail sector in emerging economies including India, China, Vietnam and Indonesia is expected to have a major impact on the FMCG sector. Growing disposable income and mounting demand for healthier alternatives to fried noodles is expected to influence overall growth in the next seven years. Together, these countries are estimated to generate revenues exceeding USD 2.50 billion by 2022.
  • Key industry players including Tat Hui Foods Pte Ltd., Thuan Phong Co., Ltd., Nissin Foods, Acecook Vietnam, and President Rice Products Public Company Limited have a wide range of supplier and distribution network. Companies such as Trialia Foods Australia are not directly engaged in manufacturing rice noodles but import it from key producing countries including Vietnam and Thailand. They procure and market rice noodles products under their own private label brand. Private label brands in the noodles sector have increased their penetration in the past couple of years which has led to their expansion. In May 2014, Food Noodle Co., Ltd. launched a new organic product series in “Tops market” which is a supermarket chain based in the U.S 
Growing focus on maintaining a healthy lifestyle is expected to remain a key factor influencing market development over the forecast period. Product penetration is expected to increase in urban and rural sectors of these regions owing to the availability of smaller packet sizes at lower prices. This provides a productive growth opportunity for the market players over the forecast period.
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https://www.grandviewresearch.com/press-release/europe-asia-rice-noodles-market
Rice noodles market is highly fragmented in nature owing to the presence of numerous manufacturers with regional concentration.Manufacturers have wide distribution channels which include wholesalers, primary distributors, secondary distributors, and retailers. Companies including Acecook Vietnam and Nissin Foods dominated the industry through their extensive retail channels and wide distribution networks. Distribution channel plays an important role in this industry, as development of the product depends upon product visibility and positioning.
In France, rice noodles market is expected to grow at a CAGR of 8.3% from 2015 to 2022. Germany and France have witnessed a significant rise in demand on account of growing trend for consuming ethnic cuisine coupled with increasing exposure to Asian cuisine. This has led to a rise in number of noodle retail shops in these two countries over the past few years. Easy to prepare instant rice noodles has specifically witnessed a significant increase in demand owing to growing trend among younger population to have healthier convenience food products rather than the ones which contain high amounts of salt.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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