Rice Syrup Market Size was valued at USD 1.8 billion in 2022. The Rice Syrup market industry is projected to grow from USD1.8882 Billion in 2023 to USD 2.76854 billion by 2032, exhibitinga compound annual growth rate (CAGR) of 4.90% during the forecast period (2023 - 2032). Increased demand for plant-based sweeteners with natural components and organic and natural sweeteners are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
In the current situation, people are more curious about natural products. This can play a crucial role in expanding the Rice Syrup market. Increasing Awareness of functional foods and dietary supplements will drive the market during forecasting. Increased Awareness about the different health benefits of various rice products has helped increase the consumption of these products due to an increase in the rice syrup market CAGR. The consumption of healthy food products and rice syrup market is currently trending worldwide. There is a huge demand in the cosmetic industry. In cosmetic grade, rice syrup is widely used by manufacturers in the production of cosmetics and personal care products on a very large scale. Therefore, the rice syrup market is expected to increase its revenue contribution during the forecast period significantly.Â
Additionally, Rice syrup is grain syrup or a sweetener obtained from brown rice using enzymatic fermentation to break down the natural starch into complex carbohydrates, maltose, and glucose. Rice syrup provides a mild caramel flavor to the food industry and is used to prepare foods such as cookies, cakes, pies, and puddings. Rice syrup generally produces a crunchier or harder textured effect when used with baked goods. Syrups are widely utilized in the preparation of bakery food products. Thus growing consumption of bakery food products around the globe is projected to foster the market growth of rice syrup over the forecast period.
The increasing popularity of rice products as a serious source of nutrients alongside growing consumer focus towards a healthy lifestyle will probably drive this market's growth. Growing demand for rice or rice syrup in various food products is predicted to serve major growth opportunities for the market. Moreover, the growing demand for dairy and fruit products is also expected to reinforce market growth. Increasing consumer demand for healthy and safe food products is predicted to grow the Rice Syrup market revenue.
The Rice Syrup market segmentation, based on type, includes brown rice and white rice. The brown rice segment accounted for a larger market share, while the white rice segment is expected to register a higher CAGR during the forecast period. Brown rice syrup is also famous as rice malt syrup. The enzymatic breakdown of starches follows the fermentation of the brown rice; the substance is then reduced until it becomes a syrup-like consistency. The demand for brown rice syrup is increasing around the world owing to its nutritional properties; this type of rice syrup is used in many healthy and organic food products, including snack bars or breakfast cereal, as an alternative to artificial sweeteners, white sugar, and high- fructose corn syrup.
Figure1: Rice Syrup Market, by Rice Syrup, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Rice Syrup market segmentation, based on category, includes organic and conventional. The organic segment accounted for a larger market share, whereas the conventional segment is expected to register a higher CAGR during the forecast period. Organic rice syrup is natural, gluten-free, non-genetically modified, and allergen-free. Organic rice syrup is produced from a plant source, so it is suitable for vegan or vegetarian foods. It also serves as a sweetener in cereals, snacks bar, tea, coffee, juice, and bakery products. Besides this, it is also taken as a healthy hypo-allergenic diet supplement that helps fight diabetes and other diseases.
Based on Application, the Rice Syrup market segmentation includes bakery & confectionary, beverages, dessert & dairy products, poultry & seafood products, infant formula, others. The bakery and confectionary segment accounted for the largest market share. In contrast, the dessert and dairy products segment is expected to register the highest CAGR during the forecast period. The dominance of this segment is primarily attributed to the rising demand for bakery and confectionery products in emerging economies of Asia Pacific. Rice syrup is an odorless, sweet, and clear yellow viscous liquid, and it is used in bakery and confectionaries products that require a high amount of inverted sugars. Rice syrup is increasingly used in baking food items such as cookies, cakes, and muffins, as well as in preparing hard candies, pancakes, muffins, gums, and jellies. It is used to add viscosity and texture, along with stability, to bakery and confectionery items. Other than this, it is also used to decorate food items as it offers shine and lusciousness. This adds to their demand in restaurants and cafes.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Europe Rice Syrup market area will dominate this market. This is due to 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. Further, the German Rice Syrup market held the largest market share, and the UK Rice Syrup market was the fastest-growing market in the European Region
Further, the major countries studiedin the market reportare The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: RICE SYRUP MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North America accounts for the second-largest market share due to the low cost of bariatric surgery and the rise in the number of diabetes people. This is due to the growing consumption of snacks and baked products as convenience food.
The Asia-Pacific Rice Syrup Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to Growing Awareness about the benefits of healthy meals through several promotional campaigns by market players, further boosting the regional market growth. Moreover, China’s Rice Syrup market held the largest market share, and the Indian Rice Syrup market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the rice syrup market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The rice syrup industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Rice Syrup industry to benefit clients and increase the market sector. In recent years, the Rice Syrup industry has offered some of the most significant advantages to medicine. Major players in the Rice Syrup market, including 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), ShafiGluco Chem (Pvt) Ltd (Pakistan), Matco Foods Limited (Pakistan), Om Foods Inc. (Canada), and others are attempting to increase market demand by investing in research and development operations.
Ciranda supplies businesses in the natural products industry with high-quality, certified organic, non-GMO, and fair-trade ingredients. Areas of expertise include syrups and sweeteners; starches and flours; cocoa and chocolates; oils and fats; coconut products, and lecithin. The employee-owned company operates from headquarters in Hudson, Wisconsin, with warehouses across North America for fast, responsive service. Ciranda Inc., a 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.
Wuhu DELI FOODS has been a professional food & beverage manufacturer & exporter in China for over 20 years; Deli has committed itself fully to providing high-quality natural honey and bee products, syrup products, rice protein, and tomato products. Quality and service have the highest priority for all Deli products. Deli's mission is to help customers succeed through products and services. Wuhu Deli Foods Co., Ltd. participated in the international food expo - IFT18 (Institute of Food Technologists), which brings more than 20,000 food professionals and other market participants, such as distributors and suppliers, together to promote mutual business collaborations.
Rice Syrup Industry Developments
July 2018: Wuhu Deli Foods Co., Ltd. participated in the international food expo - IFT18 (Institute of Food Technologists), which brings more than 20,000 food professionals and other market participants such as distributors and suppliers together to promote mutual business collaborations.
November 2018: the company presented a report titled 'Plant Protein Innovation and Industry Forecasting,' which provides forecast data for up to 5 years and helps food formulators understand the importance and demand of plant-derived proteins in food and beverage products to attract more industrial consumers.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.8 billion |
| Market Size 2023 | USD 1.8882 billion |
| Market Size 2032 | USD 2.76854 billion |
| Compound Annual Growth Rate (CAGR) | 4.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Rice Type, Category,Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â 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), ShafiGluco Chem (Pvt) Ltd (Pakistan), Matco Foods Limited (Pakistan), Om Foods Inc. (Canada) |
| Key Market Opportunities | Demand for plant-based sweeteners with natural components |
| Key Market Dynamics | Increased demand for organic and natural sweeteners |
Rice Syrup Market Highlights:
Frequently Asked Questions (FAQ) :
The Rice Syrup market size was valued at USD 1.8 Billion in 2022.
The market is projected to grow at a CAGR of 4.90% during the forecast period, 2023-2032.
Europe had the largest share of the market
The key players in the market areWuhu 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).
The Brown Rice Syrup category dominated the market in 2022.
The Bakery & Confectionary had the largest share of the market.
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