Rice Syrup Market Overview
Rice Syrup Market Size Was Valued at USD 752.60 Million in 2023 and is Projected to Reach USD 1079.56 Million by 2032, Growing at a CAGR of 4.09% From 2024-2032
Brown rice (malt) syrup, commonly known as rice syrup or rice malt, is a sugary sweetener manufactured by steeping cooked rice starch with saccharifying enzymes to break down the starches, then filtering out the liquid and decreasing it by evaporative heating until the required consistency is attained. The enzymes employed in the saccharification process are obtained either by adding sprouted barley grains to the rice starch (the conventional approach) or by adding pure enzyme isolates generated from bacteria or fungal sources (the modern, industrialized method). The alteration of flour and starch in the present industrial manufacturing of brown rice syrup does not include the use of synthetic chemicals. The enzymes used in the processing are obtained naturally from organic bioreactors using methods similar to those used to make antibiotics. Brown rice syrup is sold as maltose or maltose syrup in most western Chinese grocery stores, referring to the sweetener's high maltose concentration. The industrialized process is nearly often used to create this product. Rice syrup has a one-year shelf life and should be kept in a cold, dry area once opened. Brown rice syrup is a sweetener that may be found in a variety of beverages, including rice milk. Several firms in the United States, Europe, and Asia make brown rice syrup on a commercial basis.
In the food processing business, rice syrup is the most widely used natural sweetener. As an alternative to high fructose corn syrup, organic rice syrup is a low-calorie sweetener. This syrup is manufactured from organic rice fermentation and contains no synthetic chemicals, pesticides, or fertilizers, making it healthy and acceptable for individuals of all ages. Confectionery, bakeries, drinks, dairy goods, sauces, and newborn formula, as well as foodservice businesses including hotels, restaurants, and coffee shops, are increasingly using rice syrup. As customers become more conscious of organic food components and goods, rice syrups are being processed in greater numbers. Amidst the COVID-19 pandemic, the global market for rice syrup projected at US$723.65 Million in the year 2020, is anticipated to reach a revised size of US$952.28 Million by 2027, growing at a CAGR of 4% over the forecast period 2020-2027.
Market Dynamics And Factors For Rice Syrup Market
Drivers:
Growing Demand in the Food Service Industry
Rice syrup's global market is being spurred by its increasing use in the foodservice sector, notably in the production of processed and baked items. Because of the increased customer desire for organic or natural products over synthetic ones, the sector is seeing consistent expansion. Furthermore, with a growing vegan population, the demand for plant-based components is driving the rice syrup business ahead. Rice syrup is used in the production of food goods such as fruit drinks, soft drinks, canned fruits, morning cereals, extruded or baked energy and sports bars, beverages, puddings, biscuits, and cakes, among others, to meet customer demand. Due to its anti-crystalline character, high degree of sweetening, and low freezing point, rice syrup is increasingly being used in the confectionery sector as a perfect addition for flavored sweets and ice creams as a natural sweetener and as an agent to decrease its freezing point. As a result of expanding disposable incomes and a growing customer preference for processed foods, the sector is likely to develop even more. Furthermore, the increasing production and cultivation of organic rice are assisting industry expansion by ensuring a steady supply of raw material for the syrup sector. Furthermore, the many steps done by governments around the country to support farmers are giving the organic rice business a boost, which will benefit the rice syrup industry internationally. Technological advances and new product releases are projected to help the global rice syrup market growth throughout the forecast period.
Restraints:
Toxic Impurities
In a 2012 research, substantial quantities of arsenic, which is harmful to humans, were discovered in brown rice syrup and goods containing it. This is most likely due to the high arsenic content in rice. The authors suggested that authorities set legal limitations for arsenic levels in food, notably in newborn and toddler formulae, which might hinder the rice syrup market's growth throughout the forecast period.
Opportunities:
The growing huge demand for rice syrup in the cosmetic industry leads to creating a lucrative opportunity. In cosmetics, rice syrup is extensively used by key players to manufacture cosmetics and personal care products on a large scale. Hence, the global rice syrup market is anticipated to significantly increase its revenue contribution over the forecast period. In addition, the rising utilization of organic-based food and products among the developed and developing economies helps to grow market share for the organic rice syrup market in the projected period. Government support in the form of subsidies and various marketing opportunities given by the agricultural department in some countries is expected to augment the market in the upcoming year.
Market Segmentation
Segmentation Analysis of Rice Syrup Market:
Based on the type, brown rice is anticipated to dominate the rice syrup market during the forecast period. Rice malt syrup is another name for brown rice syrup. The brown rice is fermented, then the starches are broken down enzymatically, and the material is reduced till it has a syrup-like consistency. Brown rice syrup is becoming more popular across the world as a result of its nutritional benefits; it's used in a variety of healthy and organic food products, such as snack bars and morning cereal, as an alternative to artificial sweeteners, white sugar, and high-fructose corn syrup. Brown rice has a low glycemic index (GI), which means it doesn't induce a surge in blood sugar after eating. According to studies, consuming three servings of healthy grains each day, such as brown rice, can lower your risk of type 2 diabetes by up to 32%. White rice, on the other hand, may raise your diabetes risk.
Based on the nature, the organic segment is expected to hold the maximum rice syrup market share throughout the forecast period. Organic rice syrup is a low-calorie sweetener that can replace high-fructose corn syrup in recipes. It is prepared by fermenting organic rice, which contains no synthetic agents, pesticides, or fertilizers, making it healthy and suitable for individuals of all ages. Rice syrup is becoming more widely utilized in confectioneries, bakeries, drinks, dairy products, sauces, and infant formulas, as well as foodservice establishments such as hotels, restaurants, and cafés. Rice syrups are increasingly being made from organic rice as customers become more health-conscious about organic food components and goods.
Based on the application, the bakery & confectionery segment is expected to dominate the rice syrup market during the forecast period. Rice syrups are widely used in the confectionery business. Rice syrup applications include hard candies, jelly and gum sweets, pans candy, and confectionery coatings, to name a few. It aids in the control of sugar blooms, moderates stickiness, provides a good choice of processing viscosity, has a clean flavor, is barrier coated, and gives the finished product a shine. Rice syrup is best utilized in baked products such as cakes, cookies, and muffins to help maintain moisture, moderate texture, and provide exceptional freeze stability. Rice syrup is used in the beverage sector to make beverages and dry mixes. It has a modest sweetness and a clean taste that improves the body's immunological system. Rice malt dextrin and rice syrup solids are used to improve the sweetness and freezing point of frozen desserts such as ice cream. To summarize, rice syrup is used in dairy products, baked goods, table spreads, and bread, as well as morning cereals and bars, meats, salad dressings, and confectionery.
Regional Analysis of Rice Syrup Market:
The European region is expected to dominate the rice syrup market over the projected period. The owing rising popularity of organic, natural, and healthy components in food is likely to be a significant driver for the rice syrup market in the region. Furthermore, the strict controls imposed by the European Union (EU) on rice syrup distribution are instilling trust in the minds of health-conscious customers, boosting rice syrup sales in Europe.
Due to the obvious rising consumption of snacks and baked goods as convenience foods, the rice syrup market in North America is predicted to develop at the fastest rate over the forecast period. Growing consumer knowledge of the advantages of a healthy meal through a variety of promotional initiatives by market participants is driving regional market growth even further.
In the Asia Pacific, the continuous movement of customers toward convenience meals is expected to drive growing demands for rice syrup. Consumers in industrialized and emerging Asian nations such as Australia, China, and India are very focused on their work-life, which translates into strong demand for convenience or on-the-go meals. Other significant drivers driving the growth of the rice syrup market in this area include rising urbanization, rising disposable income, and an increase in FDI in the retail sector.
Players Covered in Rice Syrup Market are :
- Cargill Incorporated
- Windmill Organics Ltd.
- ABF Ingredients Ltd.
- Nature Bio-Foods Ltd
- Axiom Foods Inc.
- Habib Rice Products Ltd.
- Bharat Glucose Pvt. Ltd.
- California Natural Products Inc.
- Matco Foods Limited
- Om Foods Inc.
- Shafi Gluco Chem (Pvt) Ltd
- Wuhu Deli Foods Co. Ltd.
- Wuhu Haoyikuai Food Co. Ltd
Key Industry Developments In Rice Syrup Market
In January 2023, Cargill’s ExtraVeganZa launched a new range of vegan chocolate, using the plant-based power ingredients sunflower kernel powder, rice syrup, and organic rice syrup. It brings a delightful creaminess and smooth melt-in-mouth experience to chocolate recipes, which is hard to achieve with the ingredients commonly used in vegan chocolates
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Global Rice Syrup Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 752.60 Mn. |
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Forecast Period 2024-32 CAGR: |
4.09% |
Market Size in 2032: |
USD 1079.56 Mn. |
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Segments Covered: |
By Type |
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By Application |
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By Region |
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Frequently Asked Questions :
The forecast period in the market research report is 2024-2032.
