The Senbei Rice Crackers Market Is Estimated To Witness High Growth Owing To Increasing Popularity Among Health-Conscious Consumers
The senbei rice crackers market is estimated to be valued at US$ 7.74 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Senbei rice crackers are thin and crispy crackers made from rice, with various toppings and fillings. They are widely consumed as a snack or as an appetizer in Japan as well as other Asian countries. Increasing health awareness among consumers have boosted the demand for plant-based and gluten-free snacks like senbei rice crackers. They are low in calories and carbohydrates making them suitable for health-conscious people.
Market Dynamics:
Rising popularity of Asian foods and flavors globally is acting as a major driver for the senbei rice crackers market. Changing food habits and growing preference for exotic snacks have increased the demand for traditional Asian snacks like rice crackers. Furthermore, the presence of key senbei rice crackers manufacturers such as Kameda Seika Co., Ltd. and Calbee, Inc. that offer innovative flavors and packaging is also fueling the market growth. However, rising health issues like obesity and diabetes due to consumption of unhealthy packaged snacks have prompted manufacturers to offer low-calorie and nutritious rice cracker variants. This is expected to offer lucrative opportunities for market players over the forecast period.
SWOT Analysis
Strength: Senbei rice crackers have a long shelf life which helps reduce wastage. They are affordable and serve as a convenient snack. Their crispy texture and various flavors appeal to both children and adults.
Weakness: Senbei rice crackers have high sodium content which can adversely impact health if consumed in large quantities. They also have low nutritional value. Frequent changes in consumer preferences is also a challenge.
Opportunity: Growing health awareness is promoting low-calorie snacks, providing an opportunity for senbei manufacturers to develop healthy rice cracker variants. e-commerce is expanding in rural markets, allowing better distribution reach.
Threats: Rising raw material costs due to climate change and global supply chain disruptions can squeeze margins. Strong competition from other snack categories threatens market share.
Key Takeaways
The Global Senbei Rice Crackers Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand for affordable and convenient snacks.
Regional analysis
The Asia Pacific region dominates the global senbei rice crackers market, accounting for around 60% share. Within Asia Pacific, Japan represents the largest market owing to strong cultural affinity for senbei among Japanese. China is projected to be the fastest growing regional market through 2030, supported by rising health awareness.
Key players
Key players operating in the senbei rice crackers market are Kameda Seika Co., Ltd., Bourbon Corporation, Calbee, Inc., Glico Group, Ito En, Ltd., Yamazaki Baking Co., Ltd., Iwatsuka Confectionery Co., Ltd., Tanawachi Co., Ltd., Morinaga & Co., Ltd., and Kobayashi Pharmaceutical Co., Ltd. Kameda Seika leads the Japanese market with its wide array of traditional and innovative rice cracker offerings.