Rice Syrup Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.10 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Rice Syrup Market Analysis
The rice syrup market is projected to register a CAGR of 4.1% during the forecast period (2022-2027).
The COVID-19 pandemic had a very short-term effect on the food processing industry due to trade restrictions and strict government regulations. However, the overall food and beverage industry saw a rise during the pandemic. 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.
The market is likely to be driven by several factors, such as a wide range of applications of rice syrup as an alternative sweetener and the increasing popularity of organic rice syrups. The presence of high starch content in rice syrups makes them extensively useful in food processing industries. Brown rice is widely accepted by consumers as a natural sweetener alternative.
Growing demand for organic and natural sweeteners was observed due to the increasing health consciousness among consumers and product developers. However, there are very few natural sweeteners available in the market. Due to this reason, new product launches with natural ingredients, such as rice syrup, are anticipated to drive the growth of the rice syrup market during the forecast period. In Europe, rice syrup is the most preferred natural sweetener used in food processing industries.
Rice Syrup Market Trends
This section covers the major market trends shaping the Rice Syrup Market according to our research experts:
Rising Demand for Natural Sweetener
The rising health consciousness in individuals surged the demand for natural sweeteners. Organic rice syrups are naturally prepared and gluten-free. Along with being allergen-free, these syrups are suitable for vegan and vegetarian diets, compensating for the absence of honey as a sweetener. Liquid rice glucose, prepared from rice syrup, acts as a natural sweetener that can be used in many forms. Due to the rising health consciousness, manufacturers are considering liquid rice glucose as a natural sweetener for their products. Manufacturers like Cargill Inc. and California Natural Products Inc. observed the demand for natural sweeteners and launched new products with different ingredients like brown rice syrup. Moreover, rice syrup is considered a healthier alternative to corn syrup, which contains more calories and is widely used in high-temperature cooking and candy making.
Europe is Expected to Dominate the Rice Syrup Market
Europe is projected to dominate the rice syrup market during the forecast period. The growing popularity of organic, natural, and healthy ingredients in the food is expected to be a potential driver for the growth of the rice syrup market in the region during the forecast period. Furthermore, several stringent regulations by the European Union (EU) over the distribution of rice syrup are imbibing a sense of confidence among health-conscious consumers, thereby fueling the sales of rice syrup in Europe. The demand for rice syrup in households is driving the market further. Consumers in the region are inclined toward different syrups as a part of their breakfast ingredients, thus boosting the demand for rice syrup. The growing bakery industry in the region is also adding to the demand for rice syrups as an ingredient.
Rice Syrup Industry Overview
The market has many players and is fragmented in nature. California Natural Products Inc., Axiom Foods Inc., Wuhu Deli Foods Co. Ltd, Cargill Incorporated, Archer Daniels Midland Company, and Pure Life Organic Foods Ltd are some of the key players in the rice syrup market. These market players adopt innovative technologies to manufacture high-quality rice syrups to help maintain and increase their customer base in the rice syrup market. To increase their rice syrup market's share, companies focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
Rice Syrup Market Leaders
Archer Daniels Midland Company
California Natural Products Inc.
Axiom Foods Inc.
Wuhu Deli Foods Co. Ltd
Cargill Incorporated
*Disclaimer: Major Players sorted in no particular order
Rice Syrup Market News
In 2018, Ciranda Inc., a global organic, non-GMO, and fair trade ingredient supplier, collaborated with a Pakistan-based rice exporter, Matco Foods Ltd., to produce two varieties of sweeteners, viz., organic clarified rice syrup and organic rice syrup. Both these products are prepared from brown rice.
Rice Syrup Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Rice Type
5.1.1 Brown Rice
5.1.2 White Rice
5.2 By Category
5.2.1 Organic
5.2.2 Conventional
5.3 By Application
5.3.1 Bakery and Confectionery
5.3.2 Beverages
5.3.3 Dessert and Dairy
5.3.4 Meat, Poultry, and Seafood
5.3.5 Instant Formula
5.3.6 Other Applications
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Archer Daniels Midland Company
6.3.2 Gulshan Polyols Ltd
6.3.3 Axiom Foods Inc.
6.3.4 California Natural Products Inc.
6.3.5 Suzanne's Specialties Inc.
6.3.6 Wuhu Deli Foods Co. Ltd
6.3.7 Pure Life Organic Foods Ltd
6.3.8 Cargill Incorporated
6.3.9 Associated British Foods PLC
6.3.10 Bharat Gluco Industries Pvt. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Rice Syrup Industry Segmentation
Rice syrup is made by fermenting the rice and subjecting it to natural enzymes, which turns the starch present in the rice into sugar. The liquid produced through this procedure is then heated and turned into syrup.
The scope of the market is segmented by rice type, origin, application, and geography. For each segment, the market sizing and forecast have been done on the basis of value (in USD million).
| By Rice Type | |
| Brown Rice | |
| White Rice |
| By Category | |
| Organic | |
| Conventional |
| By Application | |
| Bakery and Confectionery | |
| Beverages | |
| Dessert and Dairy | |
| Meat, Poultry, and Seafood | |
| Instant Formula | |
| Other Applications |
| By Geography | ||||||||
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Rice Syrup Market Research FAQs
What is the current Rice Syrup Market size?
The Rice Syrup Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Rice Syrup Market?
Archer Daniels Midland Company, California Natural Products Inc., Axiom Foods Inc., Wuhu Deli Foods Co. Ltd and Cargill Incorporated are the major companies operating in the Rice Syrup Market.
Which is the fastest growing region in Rice Syrup Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Rice Syrup Market?
In 2024, the Europe accounts for the largest market share in Rice Syrup Market.
What years does this Rice Syrup Market cover?
The report covers the Rice Syrup Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Rice Syrup Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Rice Syrup Industry Report
Statistics for the 2024 Rice Syrup market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Rice Syrup analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
