ROCKVILLE, Md., March 23, 2022 (GLOBE NEWSWIRE) -- As per the newly released report on rice syrup by Fact.MR, a market research and competitive intelligence provider, the global market is projected to be valued at US$ 702 Mn in 2022, and expand at a CAGR of around 4.5% from 2022 to 2032. Growing demand for rice syrup in the production of dietary products, ice creams, desserts, cereals, and energy bars in driving market expansion.
Historically, the rice syrup market has been driven by its consumption in bakeries and confectioneries across developed countries, with consumers willing to pay extra for products made from organically-sourced ingredients, and this trend is projected to be continue over the forecast period as well.
Consumers around the world are placing higher value on health and wellness than on materialistic items, resulting in a shift in the notion of a healthy lifestyle. It now refers to a more holistic approach to health rather than a lack of illness and disease. Over the years, this has increased demand for naturally-derived food products, driving demand for organic rice syrup.
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Backward supply chain integration from manufacturers to raw material suppliers would assist them in improving quality, enhancing profit margins, and gaining a competitive edge. Farmers have also entered into long-term partnerships with corporations such as Habib Rice Products Ltd. Limited. This allows corporations to use proprietary technology to produce higher-grade rice, thereby improving the quality of rice syrup at a lower cost.
- In November 2021, ADM announced a partnership with Farmers Business Network to develop technologies, products, and services for farmers to enable successful, long-term agriculture.
| Report Attributes | Details |
| Rice Syrup Market Size (2021A) | US$ 674.7 Mn |
| Estimated Market Value (2022E) | US$ 702.0 Mn |
| Forecasted Market Value (2032F) | US$ 1.09 Bn |
| Global Market Growth Rate (2022-2032) | 4.5% CAGR |
| North America Growth Rate (2022-2032) | 4.3% CAGR |
| U.S. Growth Rate (2022-2032) | 4.4 % CAGR |
| Top 5 Companies’ Market Share | ~34% |
| Key Companies Profiled | • ABF Ingredients, Ltd • Archer-Daniels-Midland Company • Axiom Foods, Inc. • Bharat Glucose Pvt. Ltd. • California Natural Products Inc. • Cargill Incorporated • Ciranda • Gehl Food • Glucorp • GoMacro LLC • Gulshan Polyols Ltd. • Habib Rice Products Ltd. • IFPC Etc. |
Additionally, to ensure that they continue to drive the sales of their products, vital players are looking forward to partnering with end users in the food and beverage industry, including cereal and energy bar manufacturers, while pitching rice syrup as an alternative to refined sugar and HFCS.
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Key Takeaways from Market Study
- By product type, organic rice syrup is projected to provide an absolute $ opportunity worth US$ 281.9 Mn over the forecast period.
- Based on source, demand for brown rice syrup is projected to increase at a CAGR of around 4.3% through 2032.
- On the basis of application, rice syrup consumption across the food and beverage industry is anticipated to expand around 1.5X by 2032.
- North America is projected to capture around 47.5% of the global rice syrup market share by 2032.
- Europe is set to provide an absolute dollar opportunity worth US$ 111.7 Mn by 2032-end
“The U.S. is responsible for a majority of brown rice syrup consumption, being widely used across bakeries and confectioneries in the country. Such dominance is anticipated to open up newer opportunities for manufacturers willing to invest in this established market,” says a Fact.MR analyst.
Winning Strategy
Market players involved in the production of rice syrup can be seen investing in ensuring a regular supply of raw material. Market players should opt for sustainable sourcing as a means to minimize individual carbon footprint, and encash on the escalating trend of consumers who are willing to pay extra for organic and vegan products.
Moreover, manufacturers should concentrate on raising consumer awareness of the product by emphasizing its nutritional value. Furthermore, companies in the rice syrup industry must devise tactics to promote brown rice syrup over alternative sugar replacements.
- In October 2021, ADM announced plans to invest in a biotechnology company - Acies Bio.
- In September 2021, ADM entered into an agreement to acquire 75% stake in PetDine, Pedigree Ovens, The Pound Bakery and NutraDine (P4 Companies).
- In January 2021, ADM signed a contract to acquire Soja Protein.
- In September 2021, Natural Bio Foods announced the inauguration of its futuristic organic food processing plant, focused towards organic rice processing, and it also announced its aim to revitalizes India's rural communities while bringing organic products to the world.
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Key Segments in Rice Syrup Industry Analysis
- Rice Syrup Market by Product Type:
- Conventional Rice Syrup
- Organic Rice Syrup
- Rice Syrup Market by Dextrose Equivalent (DE):
- 28 DE
- 42 DE
- 45 DE
- 60 DE
- Rice Syrup Market by Source:
- White Rice
- Brown Rice
- Rice Syrup Market by Function:
- Natural Sweeteners
- Binders/Stabilizers/Thickeners
- Humectants
- Others
- Rice Syrup Market by Maltose Content:
- Low Maltose (<36 g/100g) Rice Syrup
- High Maltose (>36 g/100g) Rice Syrup
- Rice Syrup Market by Form:
- Solid Rice Syrup
- Liquid Rice Syrup
- Rice Syrup Market by Application:
- Food & Beverages
- Food
- Bakeries
- Confectioneries
- Ice Creams & Desserts
- Dairy Products
- Meat, Poultry and Seafood
- Cereal & Energy Bars
- Beverages
- Food
- Nutrition
- Nutraceuticals & Supplements
- Infant Formula
- Pharmaceuticals
- Food & Beverages
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the rice syrups market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (organic and conventional), dextrose equivalent [DE] (28DE, 42DE, 45DE, and 60DE), source (white rice and brown rice), function (natural sweeteners, binders/stabilizers/thickeners, humectants, and others), maltose content (low maltose (<36 g/100g) and high maltose (>36 g/100g)), form (solid and liquid), and application (food & beverages (food (bakeries, confectioneries, ice creams & desserts, dairy products, meat, poultry and seafood, and cereal & energy bars), beverages), nutrition (nutraceuticals & supplements, infant formula), and pharmaceuticals), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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About the Food and Beverage Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the food and beverage industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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