by Senbei rice crackers are one of the popular Japanese snack foods made from rice, with a crispy texture and savory taste. They are prepared by baking thin sheets of dough made from rice flour, water, and salt until crisp. Senbei rice crackers are low in calories and high in fiber content. The crispy texture and light saltiness make them a perfect snack for any time of the day. They are easily portable and have a longer shelf-life compared to other snacks. The wide availability of innovative flavors like seaweed, black sesame, shiitake mushroom etc. further boost their appeal. The global snacking trend and increasing health consciousness among people is fueling the demand for snacks like rice crackers. The global Senbei Rice Crackers Market is estimated to be valued at US$ 7.74 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the senbei rice crackers market is the introduction of gluten-free varieties by manufacturers. Gluten sensitivity and celiac disease affect millions worldwide. This has increased the demand for gluten-free alternatives of popular snack foods. Several senbei rice crackers in the market are now labeled as gluten-free as they are made only from rice flour and do not contain any wheat. This is attracting health-conscious consumers leading to sales growth. Another notable trend is the launch of innovative flavors by companies. Exotic flavors like miso chicken, pumpkin spice etc. in addition to popular ones like seaweed are gaining traction. This is further fueling market expansion.
Porter’s Analysis
Threat of new entrants: The senbei rice crackers market has moderate threat of new entrants due to established brand loyalty and requirement of large production facilities and distribution channel.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price comparison options online.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials required are commoditized.
Threat of new substitutes: Threat from new substitutes is high due to alternatives like biscuits, cookies and snacks gaining popularity.
Competitive rivalry: The market has high competitive rivalry among existing players due to no significant differentiation.
Key Takeaways
The Global Senbei Rice Crackers Market Growth is expected to witness high growth. Regional analysis related content comprises Asia Pacific dominates the global market owing to high consumption of rice crackers in Japan. North America is expected to be the fastest growing region during the forecast period.
Key players operating in the senbei rice crackers market are Rubicon Technology Inc., KYOCERA Corporation, Saint-Gobain, SCHOTT AG, Monocrystal, Rayotek Scientific Inc., CRYSTALWISE TECHNOLOGY INC., ILJIN Display CO. Ltd, Namiki Precision Jewel Co., Ltd. KYOCERA Corporation is one of the leading manufacturers with wide distribution network across regions. Rubicon Technology Inc. is focusing on new product development to cater changing consumer preferences.
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Source: Coherent Market Insights, Public sources, Desk research
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