Growing trend of veganism and inclining preference towards a gluten-free food is projected to boost the growth of the global rice syrup market during the forecast period of 2023 to 2032

February 2023/MRFR Press Release/- Market Research Future has published a report on the global rice syrup market.

Market Highlights

Rice syrup is widely processed with the help of enzymes. For instance, brown rice syrup is made by heating brown rice. During this process, enzymes are added to the resultant to break down the starch into the maltose, maltotriose and a small amount of glucose. The solution is then strained, thereby leaving behind the syrup for consumption. Brown rice syrup is about half as sweet as white sugar. Brown rice syrup offers a mild, butterscotch flavor and is widely used in the manufacturing of cookies, muffins and puddings. Industrially, rice syrup is also used in making pancakes, waffles and as a sweetener for iced tea and rice milk. Such factors and wide range of applications are directly influencing the growth of rice syrup market globally. Additionally, rice syrup is gluten-free and benefits such as cholesterol control, improved digestive health, and good source of energy are expected to directly boost the growth of rice syrup market during the forecast period.

Based on rice type, the global rice syrup market has been segmented into brown rice and white rice. The brown rice segment is expected to dominate the global rice syrup market during the forecast period. The fiber content in brown rice syrup offers several health benefits to the consumers such as to help controlling cholesterol, quick digestion, and promotes fullness. Syrup made from brown rice is widely considered as a low glycemic index (GI) food due to which the segment is growing among the health conscious consumers. Glycemic index can be explained as to how quickly and how much a food raises a person's blood sugar after eating. Apart from these health benefits, brown rice syrup  offers a pool of vitamins and minerals such as B vitamins, iron, magnesium, and selenium. These factors are further boosting segment growth across the regions and is also expected to register the highest CAGR during the forecast period.

The global rice syrup market has been divided, by category, into organic and conventional. The conventional segment is expected to dominate the global rice syrup market during the forecast period. Rice crops are widely grown in the conventional form due to the ease in bulk production and offer the highest profit margin. Moreover, easy availability of conventionally grown cereal crops and its reasonable pricing are aiding to the global demand for conventional rice syrup. The organic segment is expected to grow at the fastest rate during the assessment period since demand for rice crops grown in organic environment without the use of harmful chemicals is growing among the health-conscious consumers as a safe alternative.

The global market for rice syrup has also been classified, by application, into bakery & confectionary, beverages, dessert & dairy products, meat, poultry & seafood products, infant formula, and others. The bakery & confectionary segment is expected to generate highest revenue due to growing demand for snacks as convenience food. Moreover, increasing consumption of energy bars among health conscious and growing demand for naturally sweetened baked products are further fueling the growth of the segment. The infant formula segment is expected to register the highest CAGR during the assessment period owing to high population growth rate in developing nations such as  China and India. Other factors boosting the segment growth include high living standards and several varieties of sweetened flavors and blends offered by infant formula manufacturers. 

Regional Analysis

The global rice syrup market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.

Europe is expected to dominate the rice syrup market during the forecast period. Growing popularity of organic, natural, and healthy ingredients in food are expected to be a potential driver for the growth of rice syrup market in the region during the forecast period. Furthermore, several stringent regulations by European Union (EU) over the distribution of rice syrup are imbibing a sense of confidence among the minds of health conscious consumers, thereby fueling the sales of rice syrup in Europe.

The rice syrup market in North America is expected to grow at the fastest rate during the forecast period due to growing health consciousness among consumers and technological advancements in food industry of the region.  

Segmentation

The global rice syrup market has been segmented based on rice type, category, application, and region.

By rice type, the global rice syrup market has been segregated into brown rice and white rice.

The global rice syrup market has been classified as category, into organic and conventional

On the basis of application, the global rice syrup market has been divided into bakery & confectionary, beverages, dessert & dairy products, meat, poultry & seafood products, infant formula, and others.

Key Players

Some of the key players in the global rice syrup market are Wuhu Deli Foods Co., Ltd (China), Axiom Foods, Inc. (US), Wuhu Haoyikuai Food Co., Ltd (China), California Natural Products Inc. (US), Cargill Incorporated (US), Associated British Foods Plc (UK), Bharat Glucose Pvt. Ltd (India), Shafi Gluco Chem (Pvt) Ltd (Pakistan), Matco Foods Limited (Pakistan), and Om Foods Inc. (Canada).