An increase in rice consumption by the majority of the population has led to a higher demand for packaged dry rice in the United States. Increasing health awareness, improved agricultural practices, and the introduction of innovative packaging solutions are some of the factors fueling the growth of the market. The US packaged dry rice market is projected to expand at a CAGR of 6.2%, and will reach a value of USD 11.5 Bn by 2024.
Segmentation based on product type:
The white rice segment holds the largest market share because of the higher preference for it among consumers in the US. This is because it can be preserved easily and has a longer shelf life than brown rice. Despite the lower nutrition content, white rice is more popular among consumers because it is softer and tastier, easy to digest, and takes less time to cook. The brown rice segment is expected to expand at a comparatively higher rate than the white rice segment during the forecasted period.
Segmentation based on distribution channel:
The supermarkets segment held the largest market share in 2018, and is expected to expand during the forecast period. Supermarkets allow consumers to view and compare products from various brands. This makes it convenient and saves time for consumers, while allowing them to choose the item that is best suited to their requirements. The convenient stores segment is projected to expand at the highest CAGR during the forecasted period. These stores have extended hours of operation, convenient locations, and stocks of popular brands, which attract and serve a large customer base.
• Mars, Inc.
• McCormick & Company
• Ebro Foods, S.A.
• Hain Celestial Group
• Riceland Foods, Inc.
• Amira Nature Foods Ltd.
• Farmers’ Rice Cooperative
• The Sun Valley Rice Company, LLC
• American Commodity Company, LLC
• California Family Foods