US Packaged Dry Rice Market to be Worth USD 11.5 Bn by 2024
Research On Global Markets has announced the addition of a market research report titled “US Packaged Dry Rice Market (2019 - 2024)” to their offering. According to the report, 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. 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 also some of the major factors driving the growth of the market.
The research report published by Research On Global Markets features a comprehensive analysis of the segments of the packaged dry rice market in the US based on product type and distribution channel. Based on product type, the white rice segment held the largest market share as it enjoys higher preference among consumers in the US. This is because it can be preserved easily and has a longer shelf life than brown rice. Despite the fact that it has lesser nutrients, 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.
Based on the distribution channel, the supermarkets segment held the largest market share in 2018, and is expected to expand further 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 the highest in terms of 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, according to Research On Global Markets.
Research On Global Markets tracks the performance of the major players operating in the packaged dry rice market in the US including 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, and California Family Foods, among others.
Key highlights of this report:
- US Packaged Dry Rice Market Overview
- US market revenue – (2016-2018) (USD Bn)
- US forecast market revenue – (2019-2024) (USD Bn)
- US Packaged Dry Rice Market - Segment Insights based on product type (white rice and brown rice) and distribution channel (supermarkets, convenience stores, department stores, and others)
- Qualitative analysis of the major drivers and challenges affecting the market
- Analysis of the competitive landscape and profiles of major players operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for packaged dry rice in the US to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.