The global rice syrup market is anticipated to grow at a significant CAGR of 4.4% during the forecast period. Rice syrup is used as a sugar alternative in beverages, desserts, and dairy products. Brown rice syrups are most demanded by the consumers due to their health benefits and light sweet tasting. The brown rice syrup is a natural sweetener made from rice of Oryza Sativa (Asian Rice) origin, which is allergen-free. Brown rice syrup is also known as rice malt syrup. The increasing demand for plant-based sweeteners with natural components such as rice syrup among health-conscious consumers is the key factors surging its demand leading to market growth. Organic/plant-based rice syrup is considered a low-calorie sweetener and widely used as an alternative to high fructose corn syrup. The increasing adoption of rice syrup in the food and beverages industry for making beverages, snacks, breakfast cereal, and dairy products, and consumer inclination towards low sugar diet due to diabetes, high blood pressure which is increasing the demand of rice syrup among the consumers are the key factors for the growth of global rice syrup market during the forecast period.
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Impact of COVID-19 Pandemic on Global Rice Syrup Market
The demand for rice syrup has been decreased during COVID-19 due to trade restrictions and strict government regulations. Food processing industry halted their production due to which the market of rice syrup was declined. The production units were also closed and the distribution channels were also not operating due to which it was difficult for the consumers to purchase the rice syrup which leads to a decrease in growth of global rice syrup market. Post COVID-19 the demand for organic or plant-based syrups such as rice syrups is likely to consumer inclination towards adoption of organic products with natural ingredients.
Segmental Outlook
The global rice syrup market is segmented based on the type, nature, and application. Based on the type, the market is segmented into brown rice and white rice. Based on the nature, the market is sub-segmented into the organic and conventional. Based on the application, the market is sub-segmented into the bakery and confectionery, beverages, dessert and dairy, meat, poultry, and seafood, and instant formula. ?
by Type (Brown Rice and White Rice),
By Nature (Organic and Conventional), and
by Application (Bakery and Confectionery, Beverages, Dessert and Dairy, Meat, Poultry, and Seafood, and Instant Formula)
Market Players Outlook
The major companies serving the global rice syrup market include California Natural Products, Archer Daniels Midland Company, Pioneer Industries Pvt. Ltd., Wuhu Deli Foods Co.Ltd., Gulshan Polyols Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global rice syrup market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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