According to the report by Expert Market Research (EMR), the global rice syrup market size is projected to grow at a CAGR of 4% between 2024 and 2032. Aided by the growing popularity of rice syrup as an alternative to conventional sugar, the market is expected to grow significantly by 2032.
Rice syrup, a natural sweetener derived from rice, is gaining popularity as a healthier alternative to conventional sugar. It is produced by breaking down rice starch into simple sugars, typically maltose, and is known for its mild, sweet flavour and smooth texture. Rice syrup is a versatile ingredient used in various food products such as baked goods, confectioneries, sauces, and beverages. It’s particularly favoured in the health-conscious and vegan communities, as it is plant-based and contains no fructose.
The driving force behind the rice syrup market growth is the increasing consumer demand for healthier and natural sweeteners, coupled with a rising awareness of the adverse health effects associated with high fructose corn syrup and artificial sweeteners. Consumers are increasingly seeking out natural and organic food ingredients, which has led to a surge in demand for rice syrup, especially in health-oriented and organic food products.
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Another factor contributing to the market growth is the versatility of rice syrup in food applications. Its ability to enhance the texture and flavour of products without overpowering them makes it a preferred ingredient in a wide range of food applications. Additionally, rice syrup’s stability under high temperatures and acidic conditions adds to its appeal in the food processing industry.
The expanding vegan and plant-based food markets also play a significant role in propelling the rice syrup market demand. As rice syrup is a non-animal derived product, it fits well within vegan and plant-based dietary preferences, making it an ideal sweetener for these segments.
Regionally, Asia Pacific is a major player in the global market, attributed to the high consumption of rice and rice-based products in the region. Countries like China, India, and Japan have a long-standing tradition of using rice and its derivatives in various culinary applications, which supports the demand for rice syrup.
The North American and European markets account for a significant portion of the rice syrup market share, driven by the increasing health consciousness and the demand for natural and organic food products. The rise in veganism and plant-based diets in these regions further bolsters the market for rice syrup.
In terms of market trends, there is an increasing focus on the development of organic and non-GMO rice syrup to cater to the growing consumer demand for clean label products. Additionally, innovations in flavour and texture enhancements are expected to create new opportunities in the market.
Rice Syrup Market Segmentation
The market can be divided based on nature, rice type, application, and region.
Market Breakup by Nature
- Organic
- Conventional
Market Breakup by Rice Type
- Brown Rice
- White Rice
Market Breakup by Application
- Bakery and Confectionery
- Beverages
- Desserts and Dairy
- Infant Formula
- Meat, Poultry, and Seafood
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Rice Syrup Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global rice syrup market. Some of the major players explored in the report by Expert Market Research are as follows:
- Habib Rice Products Ltd.
- Wuhu Deli Foods Co., Ltd.
- Lundberg Family Farms
- Meurens Natural S.A.
- California Natural Products
- Others
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