Global Rice Syrup Market Anticipates USD 2.3 Billion Milestone by 2031 with 3.7% CAGR Growth | TMR Study

The global rice syrup market is on a steady growth trajectory, reflecting changing consumer preferences and the rising demand for natural, low-calorie sweeteners. Valued at US$ 1.6 billion in 2021, the market is projected to expand at a CAGR of 3.7% over the next decade, crossing a valuation of US$ 2.3 billion by 2031. Key drivers include the increasing use of rice syrup as a healthier alternative to artificial sweeteners and its diverse applications in food and beverage industries.

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Analysts' Viewpoint on Rice Syrup Market Scenario

The post-pandemic era has witnessed a surge in health consciousness, with consumers actively seeking natural and organic alternatives in their diets. Rice syrup, especially the organic variant, has gained traction due to its low-calorie profile and absence of artificial ingredients. Its widespread application in bakery products, confectioneries, dairy products, and beverages underscores its versatility. As small and medium-scale manufacturers join the fray, the market is becoming increasingly competitive, driven by innovations in organic food production and the growing preference for packaged food.

Key Players in the Rice Syrup Market

Key players of Rice Syrup Market are ABF Ingredients, Ltd., Axiom Foods, Inc., Bharat Glucose Pvt. Ltd., California Natural Products Inc., Cargill Incorporated, Habib Rice Products Ltd., Matco Foods Limited, Nature Bio-Foods Ltd, Om Foods Inc., Shafi Gluco Chem (Pvt) Ltd, Windmill Organics Ltd., Wuhu Deli Foods Co., Ltd., Wuhu Haoyikuai Food Co., Ltd.

Surging Demand for Clean Label Products

As urbanization and changing lifestyles drive the popularity of packaged foods, rice syrup has become an essential ingredient for creating texture, extending shelf life, and meeting clean-label requirements. Consumers are increasingly gravitating toward food items free from synthetic additives and harmful chemicals. This trend is particularly prominent in developing economies, where the awareness of consuming clean-label products is growing rapidly.

Manufacturers are leveraging innovative strategies to enhance their competitive edge. For instance, product development efforts now focus on convenience foods such as ready-to-eat meals, snack bars, and beverages that align with busy lifestyles.

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Expansion of Distribution Channels

The rapid growth of e-commerce and the proliferation of online retail platforms have expanded the availability of rice syrup globally. Offline channels, such as supermarkets, hypermarkets, and specialty stores, also play a significant role in driving sales. Manufacturers are exploring diverse distribution strategies to maximize reach, including partnerships with foodservice providers and direct-to-consumer models.

Moreover, the pandemic-induced surge in plant-based food sales has encouraged market players to enhance their product offerings. For instance, the development of innovative rice syrup formulations caters to varying consumer needs, from baking enthusiasts to health-focused individuals.

Regional Market Dynamics

South Asia and Oceania

These regions are expected to witness the highest growth rates, with CAGR values of 5.3% and 5.0%, respectively. The increasing agricultural production of rice and its use in industrial processing as a sweetener are key contributors to this growth.

Europe and North America

These regions dominate the global market, jointly accounting for over 72.3% of the market share. The emphasis on clean-label and organic food products is driving demand in these markets.

Latin America and Middle East & Africa

These regions are emerging as potential growth markets, thanks to rising awareness and adoption of rice syrups in processed and packaged food products.

Trends Driving the Rice Syrup Market

Increasing Use in Infant Formula

The use of rice syrup in infant nutrition has grown significantly due to its natural sweetness and digestibility. As a healthy alternative to synthetic sugars, it aligns with the recommendations of organizations like the WHO for improved infant health.

Demand for Clean-Label Food Products

Consumers are increasingly prioritizing products with minimal processing and natural ingredients. According to a 2021 survey by the International Food Information Council (IFIC), 65% of consumers prefer clean-label ingredients, favoring products labeled as "organic" and "natural."

Shift Toward Plant-Based Ingredients

The cultivation of plant-based ingredients, including rice, has surged due to their dual role in staple diets and industrial applications. This trend is likely to continue as awareness of the benefits of brown and white rice increases.

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