Taiwanese consumption pattern of rice has been transforming from merely functional to the pursuit of more diverse and delicate. Owing to its nature of quality, hygiene, ease of carrying, and multiple selection in content and packaging size, small-packaged rice has been widely accepted by Taiwanese people. By adopting the methodology of conjoint analysis, this study screened at first the attributes valued most by consumers. Secondly, the market was segmented according to the utility of each attribute perceived by consumers, and consumer preferences was analyzed for each segments. Finally, changes in consumer willingness to pay were also measured for different levels of product attribute change. The first stage of the investigation rolled out a total of 423 questionnaires, of which 383 were valid. It was found four attributes were most emphasized by respondents, including: origin of produce, CAS marker, production resumes, and price. The second stage of the investigation dispatched a total of 450 questionnaires, of which 402 were valid. Based upon the perceived value of utility, three segments were found and named as Patriots, Value Seekers, and Marker Seekers. Relative importance of attributes and the best attribute combination for each segment were also analyzed. The findings of this study should be helpful for practitioners in facilitating the product design and planning for small packaged rice.