June 18, 2024
Senbei Rice Crackers Market

Senbei Rice Crackers Is Driven by Increasing Health-Consciousness Among Consumers

Senbei rice crackers are famous traditional Japanese snacks made from rice grains. They are baked instead of fried and can be flavored in a variety of ways. Senbei rice crackers are cholesterol-free, low in fat and calories making them a healthier alternative to potato chips and fried snacks. They are highly customizable with different flavors and textures catering to diverse tastes. Some popular flavors include shiitake mushroom, seaweed, wasabi and green tea. The crispy texture and subtle flavors of senbei rice crackers make them ideal snacking options. Their long shelf life and portability enable convenient consumption anywhere, anytime.

The global Senbei Rice Crackers Market is estimated to be valued at US$ 8.92 Bn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The global senbei rice crackers market is witnessing growing product innovation with new flavors and varieties. Manufacturers are focusing on organic, gluten-free and additive-free variants to cater to consumers with special dietary requirements. Advances in flavor technology are enabling novel combinations drawing inspiration from global cuisines. For instance, rice crackers infused with spicy Indian flavors or Mexican seasoning are gaining popularity. Growing health-consciousness is also driving demand for protein-fortified varieties. Rising popularity of Japanese culture through anime and pop culture is increasing awareness about traditional snacks like senbei rice crackers globally, expanding market reach. E-commerce is facilitating widespread availability and boosting sales across different regions.

Porter’s Analysis

Threat of new entrants: The senbei rice crackers market has medium threat of new entrants as it requires decent manufacturing and distribution setup. However, the market is dominated by some major players making entry barriers moderately high.

Bargaining power of buyers: Buyers have medium bargaining power in the senbei rice crackers market as there are numerous domestic as well as international players offering variety of products at competitive prices.

Bargaining power of suppliers: The suppliers of raw materials like rice have low to medium bargaining power due to availability of substitutes and less differentiation in raw materials.

Competitive rivalry: The senbei rice crackers market witnesses high competitive rivalry among the top players owing to their varied product offerings and extensive distribution networks across regions.

Key Takeaways

The Global Senbei Rice Crackers Market Demand is expected to witness high growth over the forecast period. The market size is projected to reach over US$ 8.92 Bn by 2024 from US$ 6.32 Bn in 2019, expanding at a CAGR of 8.8% during 2024-2031.

Regional analysis: The senbei rice crackers market in Asia Pacific particularly in Japan is expected to dominate globally during the forecast period owing to high consumption in the country. China is anticipated to be the fastest growing market in Asia Pacific.

Key players: Key players operating in the senbei rice crackers market are Wartsila, Siemens, GE, 2G Energy, Aegis Energy Services, Bosch Thermotechnology, Kawasaki Heavy Industries, Viessmann Werke, FuelCell Energy, Veolia, Clarke Energy, CAPSTONE TURBINE, Caterpillar, Yanmar, ABB, Edina, Wolf GmbH, Atlas Copco, Tecogen Inc. Wartsila and Siemens captured over 30% of the global market share in 2021.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it