At 4.3% of CAGR Rice Syrup Market Share will increase and aimed to cross US$ 928.4 million in 2027

theinsightpartners.com announces the release of the report "Rice Syrup Market" - https://www.theinsightpartners.com/reports/rice-syrup-market/ US$ 635.8 million in the year 2020, is projected to reach a revised size of US$ 928.4 million by 2027, growing at a CAGR of 4.3% over the analysis period 2019-2027.

Rice syrup is the processed form of cultured rice. The rice is fermented using beta and alpha amylase enzymes that break down the starch content into simple molecules of sugar such as glucose, maltose, and fructose. Owing to the presence of excessive concentration of starch, the rice syrup finds its application as sweeteners or sweet enhancers in food processing. However, processing and refining processes reduce the nutritional values of the syrup. The market is driven by the wide application of rice syrup as an alternative sweetener. Rice syrup is available as a liquid solution of a nutritive sweetener. Besides, upsurge in the popularity of organic rice syrup as a result of growing health consciousness among consumers also drives the growth of the rice syrup market.

The players present in the rice syrup market such as Axiom Foods, Inc., Malt Products Corporation, California Natural Products, Cargill, Incorporated, Gulshan Polyols Ltd, Habib Rice Products Ltd, Lundberg, Meurens Natural, Windmill Organics Ltd, Wuhu Deli Foods Co., Ltd are implementing this strategy to enlarge the customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

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In 2018, Asia Pacific held the largest share of the global rice syrup market whereas North America is expected to register the fastest CAGR during the forecast period. In Asia Pacific, the demand for rice syrup is expected to increase due to the gradual shift of the consumers toward convenience foods. The consumers in developed and developing Asian countries such as Australia, China, and India are much oriented around their professional lives, which reflects in high demand for convenience or on-the-go food. The growing urbanization, increasing disposable income, and upsurge in FDI in the retail sector are among the other key factors fuelling the growth of the rice syrup market in this region.

Market Insights

Rising demand for convenience food

The demand for rice syrups is increasing due to growing consumer preference toward processed or convenience foods. Rice syrup is used in convenience food items such as bakery and confectionery products, dairy products, ready-to-eat foods, frozen desserts, and on-the-go beverages to improve their taste. With the growth of the food and beverages industry, and the rise in income levels, consumers in developed and developing countries are inclining more toward convenience foods. Moreover, innovative packaging methods due to developing technologies attract more consumers toward these food products. Currently, the globally rising demand for food is highly met by convenience foods. The urbanization of society has resulted in the prominence of these foods in the modern diet; for instance, there has been an increase in the trend of consumption of rice syrups mixed with carbonated water, coffee, pancakes, waffles, tea, cake, etc., in breakfast. Further, the increase in population, coupled with a rising economic standard; hike in disposable incomes; and diversification in food habits are also surging the demand for convenience foods. To meet the increasing demands, companies are coming up with the improved quality of rice syrups and efficient distribution channels to serve the wider customer base.

Effect of COVID-19 on Rice Syrup Market

The COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace worldwide. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst-affected countries in terms confirmed cases and reported deaths. The outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverages is one of the major industries suffering serious disruptions such as office and factory shutdown, supply chain breaks, and technology event cancellations, as a result of this outbreak.

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Category-Based Insights
The rice syrup market, based on category, is segmented into organic and conventional. In 2018, the organic segment accounted for a larger share of the market, 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 type. As organic rice syrup is produced from a plant source, it is suitable for vegan or vegetarian foods. It also acts as a sweetener in cereals, snacks bar, tea, coffee, juices, and bakery products. Besides this, it is also taken as a healthy hypo-allergenic diet supplement that helps fight diabetes and other diseases.

Global Rice Syrup Market - By Rice Type

• Brown Rice

• White Rice

Global Rice Syrup Market - By Application

• Bakery and Confectionary

• Beverages

• Dessert and Dairy Products

• Meat, Poultry and Seafood Products

• Infant Formula

• Others

Global Rice Syrup Market - By Category

• Organic

• Conventional

Some Major TOC Points:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Rice Syrup Market Landscape

5. Rice Syrup Market - Key Market Dynamics

6. Rice Syrup - Global Market Analysis

7. Rice Syrup Market Analysis - By Rice Type

8. Rice Syrups Market Analysis - By Category

9. Global Rice Syrups Market Analysis - By Application

10. Rice Syrup Market - Geographic Analysis

11. Impact of COVID-19 Pandemic on Global Rice Syrup Market

12. Company Profiles

13. Appendix

LIST OF TABLES

LIST OF FIGURES

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This release was published on openPR.