PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1511344
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1511344
Rice Syrup Market Forecasts to 2030 - Global Analysis By Type (Brown Rice Syrup and White Rice Syrup), Nature (Organic and Non-Organic), Application and By Geography
According to Stratistics MRC, the Global Rice Syrup Market is accounted for $1.84 billion in 2024 and is expected to reach $2.34 billion by 2030 growing at a CAGR of 3.5% during the forecast period. Rice syrup, also known as rice malt syrup, is a sweetener derived from fermented cooked rice. It's made by breaking down the starch in rice into simpler sugars through enzymatic action, resulting in thick syrup with a mild sweetness. This process often involves adding enzymes to cooked rice, which convert the starches into glucose molecules. Rice syrup is commonly used as a natural sweetener in various food products like baked goods, sauces, and beverages. It's prized for its mild flavor, viscosity, and ability to enhance texture while serving as an alternative to refined sugars.
According to the International Trade Administration (ITA), the food and beverage industry experienced a 7.8% increase in 2019 compared to 2018 and had an expected growth of 16% in 2021.
Market Dynamics:
Driver:
Expanding vegan population
The expanding vegan population is propelling the growth of the rice syrup market due to its natural and vegan-friendly properties. Rice syrup serves as an alternative to honey in vegan diets and is used as a sweetener in various food products. As more people adopt vegan lifestyles, the demand for plant-based sweeteners like rice syrup increases. This trend is driving manufacturers to expand their rice syrup production to meet the growing demand, consequently contributing to the market's growth.
Restraint:
Limited consumer awareness
Limited consumer awareness about rice syrup is primarily due to inadequate marketing efforts and lack of education regarding its benefits. This lack of awareness hampers market growth as potential consumers may opt for familiar sweeteners instead. Without understanding its advantages such as being a healthier alternative to refined sugar or its versatility in cooking, consumers are less likely to seek out rice syrup, resulting in stagnant market demand and limited product visibility.
Opportunity:
Growing adoption of gluten-free and allergen-free products
As consumers seek healthier and allergy-friendly options, rice syrup, derived from rice starch, emerges as a popular choice due to its natural origin and absence of common allergens. Its versatility in food and beverage applications, coupled with its low glycemic index, makes it an attractive substitute for traditional sweeteners. This trend drives the expansion of the rice syrup market, catering to the increasing needs of health-conscious and allergy-sensitive consumers.
Threat:
Competition from alternative sweeteners
The market for rice syrup faces competition from alternative sweeteners like high-fructose corn syrup, agave nectar, and maple syrup. These alternatives offer varying sweetness levels and flavor profiles, potentially appealing to different consumer preferences. Additionally, some alternatives may be perceived as more natural or healthier, affecting consumer choices. This competition can hamper market growth for rice syrup by diverting consumer demand and challenging its market share within the sweetener industry.
Covid-19 Impact
The covid-19 pandemic has impacted the rice syrup market by disrupting supply chains, leading to production delays and distribution challenges. Changes in consumer behaviour, such as reduced spending and shifts towards essential items, have affected demand for rice syrup-containing products. Moreover, restrictions on foodservice establishments and changes in consumer preferences towards healthier options have influenced purchasing patterns.
The organic segment is expected to be the largest during the forecast period
The organic segment is estimated to have a lucrative growth. Organic rice syrup, derived from organically grown rice, offers a natural sweetening option with no synthetic additives or pesticides. Its appeal lies in meeting the demands of health-conscious consumers seeking cleaner, environmentally friendly alternatives. With a growing preference for organic products and increasing concerns about chemical residues in food, organic rice syrup presents a competitive advantage in the sweetener market. Its popularity continues to rise as part of the broader trend towards organic and sustainable food choices.
The asian cuisines segment is expected to have the highest CAGR during the forecast period
The asian cuisines segment is anticipated to witness the highest CAGR growth during the forecast period. Rice syrup plays a vital role in Asian cuisines, serving as a traditional sweetener in dishes like desserts, sauces, and marinades. Its mild flavor and sticky consistency make it versatile for both savoury and sweet dishes, enhancing flavours without overpowering them. In Asian cuisines, rice syrup is valued for its ability to provide sweetness while maintaining balance and subtlety, contributing to the rich culinary heritage of the region.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to factors such as increasing health consciousness, rising demand for natural sweeteners, and the versatile applications of rice syrup in various food and beverage products. Key market players are focusing on product innovation and expanding their distribution networks to capitalize on the growing consumer interest. Additionally, the region's rich rice cultivation contributes to the abundant availability of raw materials for rice syrup production.
Region with highest CAGR:
In Europe, the rice syrup market is witnessing steady growth driven by increasing consumer preference for natural sweeteners and dietary alternatives. Growing awareness about health benefits associated with rice syrup consumption, including its low glycemic index and gluten-free nature, is fueling market demand. Furthermore, the rising popularity of vegan and organic products is also contributing to market expansion. Key players are focusing on product innovation and strategic partnerships to capitalize on emerging opportunities in the region.
Key players in the market
Some of the key players profiled in the Rice Syrup Market include Cargill Incorporated, Associated British Foods PLC, Bharat Gluco Industries Pvt. Limited, Pure Life Organic Foods Limited, Wuhu Deli Foods Corporation, Suzanne's Specialties Inc., California Natural Products Inc., Axiom Foods Inc., Gulshan Polyols Limited and Archer Daniels Midland Company.
Key Developments:
In January 2022, Cargill has launched new products with brown rice syrup and rice syrup in response to the growing demand for natural sweeteners: ExtraVeganZa and SimPure Soluble Rice Flour. These ingredients can be used in vegan chocolate, coatings, and fillings.
Types Covered:
- Brown Rice Syrup
- White Rice Syrup
Natures Covered:
- Organic
- Non-Organic
Applications Covered:
- Dairy Products
- Infant Formula
- Confectionery & Bakery
- Asian Cuisines
- Personal & Home Care Products
- Animal Feed
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Rice Syrup Market, By Type
- 5.1 Introduction
- 5.2 Brown Rice Syrup
- 5.3 White Rice Syrup
6 Global Rice Syrup Market, By Nature
- 6.1 Introduction
- 6.2 Organic
- 6.3 Non-Organic
7 Global Rice Syrup Market, By Application
- 7.1 Introduction
- 7.2 Dairy Products
- 7.3 Infant Formula
- 7.4 Confectionery & Bakery
- 7.5 Asian Cuisines
- 7.6 Personal & Home Care Products
- 7.7 Animal Feed
- 7.8 Other Applications
8 Global Rice Syrup Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Cargill Incorporated
- 10.2 Associated British Foods PLC
- 10.3 Bharat Gluco Industries Pvt. Limited
- 10.4 Pure Life Organic Foods Limited
- 10.5 Wuhu Deli Foods Corporation
- 10.6 Suzanne's Specialties Inc.
- 10.7 California Natural Products Inc.
- 10.8 Axiom Foods Inc.
- 10.9 Gulshan Polyols Limited
- 10.10 Archer Daniels Midland Company
List of Tables
- Table 1 Global Rice Syrup Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Rice Syrup Market Outlook, By Type (2022-2030) ($MN)
- Table 3 Global Rice Syrup Market Outlook, By Brown Rice Syrup (2022-2030) ($MN)
- Table 4 Global Rice Syrup Market Outlook, By White Rice Syrup (2022-2030) ($MN)
- Table 5 Global Rice Syrup Market Outlook, By Nature (2022-2030) ($MN)
- Table 6 Global Rice Syrup Market Outlook, By Organic (2022-2030) ($MN)
- Table 7 Global Rice Syrup Market Outlook, By Non-Organic (2022-2030) ($MN)
- Table 8 Global Rice Syrup Market Outlook, By Application (2022-2030) ($MN)
- Table 9 Global Rice Syrup Market Outlook, By Dairy Products (2022-2030) ($MN)
- Table 10 Global Rice Syrup Market Outlook, By Infant Formula (2022-2030) ($MN)
- Table 11 Global Rice Syrup Market Outlook, By Confectionery & Bakery (2022-2030) ($MN)
- Table 12 Global Rice Syrup Market Outlook, By Asian Cuisines (2022-2030) ($MN)
- Table 13 Global Rice Syrup Market Outlook, By Personal & Home Care Products (2022-2030) ($MN)
- Table 14 Global Rice Syrup Market Outlook, By Animal Feed (2022-2030) ($MN)
- Table 15 Global Rice Syrup Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 16 North America Rice Syrup Market Outlook, By Country (2022-2030) ($MN)
- Table 17 North America Rice Syrup Market Outlook, By Type (2022-2030) ($MN)
- Table 18 North America Rice Syrup Market Outlook, By Brown Rice Syrup (2022-2030) ($MN)
- Table 19 North America Rice Syrup Market Outlook, By White Rice Syrup (2022-2030) ($MN)
- Table 20 North America Rice Syrup Market Outlook, By Nature (2022-2030) ($MN)
- Table 21 North America Rice Syrup Market Outlook, By Organic (2022-2030) ($MN)
- Table 22 North America Rice Syrup Market Outlook, By Non-Organic (2022-2030) ($MN)
- Table 23 North America Rice Syrup Market Outlook, By Application (2022-2030) ($MN)
- Table 24 North America Rice Syrup Market Outlook, By Dairy Products (2022-2030) ($MN)
- Table 25 North America Rice Syrup Market Outlook, By Infant Formula (2022-2030) ($MN)
- Table 26 North America Rice Syrup Market Outlook, By Confectionery & Bakery (2022-2030) ($MN)
- Table 27 North America Rice Syrup Market Outlook, By Asian Cuisines (2022-2030) ($MN)
- Table 28 North America Rice Syrup Market Outlook, By Personal & Home Care Products (2022-2030) ($MN)
- Table 29 North America Rice Syrup Market Outlook, By Animal Feed (2022-2030) ($MN)
- Table 30 North America Rice Syrup Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 31 Europe Rice Syrup Market Outlook, By Country (2022-2030) ($MN)
- Table 32 Europe Rice Syrup Market Outlook, By Type (2022-2030) ($MN)
- Table 33 Europe Rice Syrup Market Outlook, By Brown Rice Syrup (2022-2030) ($MN)
- Table 34 Europe Rice Syrup Market Outlook, By White Rice Syrup (2022-2030) ($MN)
- Table 35 Europe Rice Syrup Market Outlook, By Nature (2022-2030) ($MN)
- Table 36 Europe Rice Syrup Market Outlook, By Organic (2022-2030) ($MN)
- Table 37 Europe Rice Syrup Market Outlook, By Non-Organic (2022-2030) ($MN)
- Table 38 Europe Rice Syrup Market Outlook, By Application (2022-2030) ($MN)
- Table 39 Europe Rice Syrup Market Outlook, By Dairy Products (2022-2030) ($MN)
- Table 40 Europe Rice Syrup Market Outlook, By Infant Formula (2022-2030) ($MN)
- Table 41 Europe Rice Syrup Market Outlook, By Confectionery & Bakery (2022-2030) ($MN)
- Table 42 Europe Rice Syrup Market Outlook, By Asian Cuisines (2022-2030) ($MN)
- Table 43 Europe Rice Syrup Market Outlook, By Personal & Home Care Products (2022-2030) ($MN)
- Table 44 Europe Rice Syrup Market Outlook, By Animal Feed (2022-2030) ($MN)
- Table 45 Europe Rice Syrup Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 46 Asia Pacific Rice Syrup Market Outlook, By Country (2022-2030) ($MN)
- Table 47 Asia Pacific Rice Syrup Market Outlook, By Type (2022-2030) ($MN)
- Table 48 Asia Pacific Rice Syrup Market Outlook, By Brown Rice Syrup (2022-2030) ($MN)
- Table 49 Asia Pacific Rice Syrup Market Outlook, By White Rice Syrup (2022-2030) ($MN)
- Table 50 Asia Pacific Rice Syrup Market Outlook, By Nature (2022-2030) ($MN)
- Table 51 Asia Pacific Rice Syrup Market Outlook, By Organic (2022-2030) ($MN)
- Table 52 Asia Pacific Rice Syrup Market Outlook, By Non-Organic (2022-2030) ($MN)
- Table 53 Asia Pacific Rice Syrup Market Outlook, By Application (2022-2030) ($MN)
- Table 54 Asia Pacific Rice Syrup Market Outlook, By Dairy Products (2022-2030) ($MN)
- Table 55 Asia Pacific Rice Syrup Market Outlook, By Infant Formula (2022-2030) ($MN)
- Table 56 Asia Pacific Rice Syrup Market Outlook, By Confectionery & Bakery (2022-2030) ($MN)
- Table 57 Asia Pacific Rice Syrup Market Outlook, By Asian Cuisines (2022-2030) ($MN)
- Table 58 Asia Pacific Rice Syrup Market Outlook, By Personal & Home Care Products (2022-2030) ($MN)
- Table 59 Asia Pacific Rice Syrup Market Outlook, By Animal Feed (2022-2030) ($MN)
- Table 60 Asia Pacific Rice Syrup Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 61 South America Rice Syrup Market Outlook, By Country (2022-2030) ($MN)
- Table 62 South America Rice Syrup Market Outlook, By Type (2022-2030) ($MN)
- Table 63 South America Rice Syrup Market Outlook, By Brown Rice Syrup (2022-2030) ($MN)
- Table 64 South America Rice Syrup Market Outlook, By White Rice Syrup (2022-2030) ($MN)
- Table 65 South America Rice Syrup Market Outlook, By Nature (2022-2030) ($MN)
- Table 66 South America Rice Syrup Market Outlook, By Organic (2022-2030) ($MN)
- Table 67 South America Rice Syrup Market Outlook, By Non-Organic (2022-2030) ($MN)
- Table 68 South America Rice Syrup Market Outlook, By Application (2022-2030) ($MN)
- Table 69 South America Rice Syrup Market Outlook, By Dairy Products (2022-2030) ($MN)
- Table 70 South America Rice Syrup Market Outlook, By Infant Formula (2022-2030) ($MN)
- Table 71 South America Rice Syrup Market Outlook, By Confectionery & Bakery (2022-2030) ($MN)
- Table 72 South America Rice Syrup Market Outlook, By Asian Cuisines (2022-2030) ($MN)
- Table 73 South America Rice Syrup Market Outlook, By Personal & Home Care Products (2022-2030) ($MN)
- Table 74 South America Rice Syrup Market Outlook, By Animal Feed (2022-2030) ($MN)
- Table 75 South America Rice Syrup Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 76 Middle East & Africa Rice Syrup Market Outlook, By Country (2022-2030) ($MN)
- Table 77 Middle East & Africa Rice Syrup Market Outlook, By Type (2022-2030) ($MN)
- Table 78 Middle East & Africa Rice Syrup Market Outlook, By Brown Rice Syrup (2022-2030) ($MN)
- Table 79 Middle East & Africa Rice Syrup Market Outlook, By White Rice Syrup (2022-2030) ($MN)
- Table 80 Middle East & Africa Rice Syrup Market Outlook, By Nature (2022-2030) ($MN)
- Table 81 Middle East & Africa Rice Syrup Market Outlook, By Organic (2022-2030) ($MN)
- Table 82 Middle East & Africa Rice Syrup Market Outlook, By Non-Organic (2022-2030) ($MN)
- Table 83 Middle East & Africa Rice Syrup Market Outlook, By Application (2022-2030) ($MN)
- Table 84 Middle East & Africa Rice Syrup Market Outlook, By Dairy Products (2022-2030) ($MN)
- Table 85 Middle East & Africa Rice Syrup Market Outlook, By Infant Formula (2022-2030) ($MN)
- Table 86 Middle East & Africa Rice Syrup Market Outlook, By Confectionery & Bakery (2022-2030) ($MN)
- Table 87 Middle East & Africa Rice Syrup Market Outlook, By Asian Cuisines (2022-2030) ($MN)
- Table 88 Middle East & Africa Rice Syrup Market Outlook, By Personal & Home Care Products (2022-2030) ($MN)
- Table 89 Middle East & Africa Rice Syrup Market Outlook, By Animal Feed (2022-2030) ($MN)
- Table 90 Middle East & Africa Rice Syrup Market Outlook, By Other Applications (2022-2030) ($MN)
