These markets are driven by many factors, such as the wide spread use of rice syrup as an alternative sweetener which has increased the popularity of organic rice syrup. In the current scenario, the increased demand for organic and natural sweeteners has been observed to rise due to the growth in health awareness of consumers and product developers. However, there are currently few natural sweeteners in the market. Therefore, the launch of new products with natural ingredients, such as rice syrup, is expected to drive the growth of the global rice syrup market during the forecast period.
In some regions, rice syrup is the most popular natural sweetener in the food processing industry. As, organic rice syrup is a low-calorie sweetener that can replace high fructose corn syrup. This is made by fermenting organic rice and does not contain synthetic agents, pesticides or fertilizers, which make this syrup safe and suitable for the people of all ages. Rice syrup is increasingly used in confectionery, bakeries, beverages, dairy products, condiments and infant formula, as well as food service industries such as hotels, restaurants and coffee shops. As consumers are increasingly aware of the organic food ingredients and products, and due to this more and more rice syrups are processed.
COVID-19 Impact analysis
- Due to the recent COVID-19 outbreak, several major rice exporting countries implemented policies which ensures adequate domestic supply. Some countries has also suspended new contracts for rice exports in the month of April 2020.
- Mobility and logistics had faced challenges due to social distancing regulations which has decreased the availability of rice in the domestic markets of many countries and contributed to lower export volumes. As a result, rice products and rice syrup market has been affected widely.
- As during the world price shocks, rice export prices rose sharply, increasing by 25%, threatening the food security of countries dependent on rice imports. Although rice export restrictions eased and quarantine measures were loosened across the globe, some regions rice prices remained relatively high in the subsequent months and due to this there was a decrease in the consumption of rice products and it has highly affected Rice Syrup Market.
Top Impacting Factors
- The food grade segment is expected to contribute more than 50% of the market share and is expected to grow in a higher space. The food grade market segment is expected to promote the rice syrup market during the forecast period.
- Depending on the utilization of rice syrup, the market is classified into pharmaceuticals, cosmetics and personal care, food and beverage, etc. Food and beverages are subdivided into baked goods and baked fillings, candy, fruit products, and dairy products.
- There is a huge demand in the cosmetic industry. In cosmetics, rice syrup is widely used by manufacturers to manufacture cosmetics and personal care products on a large scale. Therefore, the global rice syrup market is expected to significantly increase its revenue contribution during the forecast period.
Hike in the Utilization in Food & Beverages Industry
Rice syrup is a grain syrup or basically a sweetener obtained from brown rice by using enzymatic fermentation to break down the natural starch present in it into complex carbohydrates, maltose and glucose. Rice syrup provides a mild caramel flavor to foods industry and used in preparation of foods such as cookies, cakes, pies, and puddings. When used with baked goods, rice syrup generally produces a crunchier or harder textured effect. Syrups are widely utilized in the preparation of bakery food products, thus growing consumption of bakery food products round the globe is projected to foster the market growth of the rice syrup over the forecast period.
Increasing popularity of rice products as a serious source of nutrients alongside growing consumer focus towards healthy lifestyle is probably going to drive these markets growth. Growing demand for rice or rice syrup in various food products is predicted to serve major growth opportunities to the market of rice syrup. Moreover, growing demand for dairy products and fruit products is additionally expected to reinforce the market growth. Increasing demand for healthy and safe food products among consumers is predicted to supply potential opportunities to the market of rice syrup.
Increased Demand in Cosmetic Industry
In the current situation, people are more curious about natural products. This can play a crucial role in the expansion of Rice Syrupmarket. Increasing awareness of functional foods and dietary supplements is predicted to drive the market during the forecasting period. Increased Awareness about different health benefits of various rice products has helped in increasingthe consumption of these products due to which there is an increase in the Rice Syrup market. As now, consumption of healthy food products, rice syrup market is trending across the world.
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 global rice syrup market is expected to significantly increase its revenue contribution during the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the RICE SYRUP industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the RICE SYRUP market share.
- The current market is quantitatively analyzed to highlight the RICE SYRUP market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed RICE SYRUP market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Report
- Who are the leading market players active in the RICE SYRUP market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "RICE SYRUP" Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "RICE SYRUP" Market?
Rice Syrup Market Report Highlights
By Rice Type
Key Market Players
ABF Ingredients, Wuhu Haoyikuai Food Co. Ltd., Cargill Incorporated, California Natural products (CNP), Archer Daniels Midland, Suzanne’s Specialties, Nature’s One, Inc., Wuhu Deli Foods Co. Ltd., GulshanPolyols Ltd., Axiom Foods