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.
The Senbei Rice Crackers Market:
Senbei rice crackers are a popular Japanese savory snack made from rice. Senbei
rice crackers are produced by baking rice that has been formed into flat, crisp
disks. They have a light and airy texture and range widely in flavor from
simple salted rice crackers to varieties seasoned with soy sauce, seaweed, or
garlic. Senbei rice crackers serve as a versatile snack and appetizer that can
be enjoyed on their own or paired with drinks, soups, and other dishes. Their
long shelf life and portability make them a convenient snack option.
Market key trends:
The rising popularity of Japanese cuisine worldwide and growing
health-consciousness among consumers are fueling the demand for senbei rice
crackers. The increasing availability of senbei crackers in international
markets through export and e-commerce is also supporting the market growth.
Furthermore, manufacturers are innovating new product varieties by introducing
unique flavors and textures to cater to evolving consumer tastes. For instance,
Calbee Inc. offers senbei crackers with the addition of ingredients like
chicken, cheese, and nuts. The emerging trend of customizable rice crackers is
also expected to drive the senbei rice crackers market over the forecast
period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the senbei rice
crackers market is niche and dominated by well-established players. Significant
capital is required for production capacity, distribution channels and brand
marketing.
Bargaining power of buyers: The bargaining power of buyers is moderate as
senbei rice crackers form a differentiated product category. Switching costs
are low for buyers to substitute with alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is low due to
availability of substitute raw materials. Rice and flour suppliers have low
differentiation.
Threat of new substitutes: The threat of new substitutes is moderate as snacks
such as potato chips, nuts and cookies compete for shelf space in retail
outlets.
Competitive rivalry: Competitive rivalry is high among established brands with
strong regional presence.
SWOT Analysis
Strength: Established brands such as Calbee and Kameda Seika enjoy economies of
scale and brand loyalty in Japan. Senbei rice crackers have cultural
significance and appeal as a healthy snack.
Weakness: High reliance on rice and flour commodities exposes profits to input
price volatility. Smaller players face constraints in marketing and nationwide
distribution.
Opportunity: Growing health awareness and changing lifestyles increase demand
for traditional snacks low in fat and calories. E-commerce opens new sales
channels in international markets.
Threats: Strict quality and safety regulations increase compliance costs.
Rising logistics and labor costs impact profit margins.
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 health consciousness among consumers. Senbei
are low in calories and fat, gluten-free and contain nutrients such as fiber.
Regional analysis: Asia Pacific dominates the global senbei rice crackers
market with Japan accounting for the major share of over 60%. Rapid
urbanization and changing dietary patterns raise demand in other Asian markets.
North America and Europe offer scope for international expansion.
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., Kobayashi Pharmaceutical Co., Ltd. Solid brand
recognition, extensive distribution and new product innovation are core
strategies of these major players.
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