Seoul, South Korea, July 26, 2022 (GLOBE NEWSWIRE) -- The global organic rice syrup market size is anticipated to exhibit growth at a CAGR of 4.3% in the forthcoming decade (2022-2032). Increasing use of organic rice syrups as an alternative sweetener in the food and beverage industry is likely to propel the market.
As per Fact.MR, the global organic rice syrup market is projected to reach US$ 1.16 Billion in 2032. Growth is mainly attributed to the rising health-consciousness pushing the adoption of natural sweeteners worldwide.
Surging demand for plant-based sweeteners infused with natural ingredients is expected to accelerate the demand in the market. Rising use of organic rice syrup in the food processing industry owing to increasing research and development (R&D) activities to launch novel products is another factor that is likely to drive growth.
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Further, high demand for sugar alternatives across the globe on the back of increasing prevalence of diabetes is projected to foster the growth. As per the Center for Disease Control and Prevention (CDC), in the U.S., about 37.3 million people have diabetes.
Out of these, nearly 8.5 million people are undiagnosed and 28.7 million people are diagnosed. Approximately 26.4 million people belonging to the age group of 65 years and above have prediabetes in the country.
Rising prevalence of lifestyle disorders such as obesity, diabetes, and consumption of fast food will augment the demand for natural and organic sweeteners. Hence, demand for sweetener-based, sugarless, or low-calorie food and beverages to maintain a healthy diet is expected to boost the market.
Which Regional Markets are expected to Generate High Revenue for Organic Rice Syrup Manufacturers?
“High Use of Organic Food Products Driving Sales of Organic Rice Syrups in Europe”
In 2022, North America is expected to account for 24.2% of the global market share. Due to the extensive use of sugar substitutes in the region, North America now has the biggest market value share for organic rice syrup.
Followed by North America, Europe also has a sizable market value share in the global market for organic rice syrup, the key driving force behind this growth is the region’s expanding use of organic foods. Europe is likely to hold 26.9% of the global market share, in 2022.
However, South and East Asia are expected to see the fastest market growth. This is due to the region's higher per capita spending on food items, which has increased the adoption of newly emerging food ingredients in their products.
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Key Segments Covered in the Organic Rice Syrup Industry Survey
- Organic Rice Syrup Market by Raw Material :
- Brown Rice Syrup
- White Rice Syrup
- Brown Rice Syrup
- Organic Rice Syrup Market by Application :
- Bakery
- Confectionery
- Beverages
- Processed Foods
- Dressing & Spreads
- Dairy Products
- Ice Cream
- Bakery
- Organic Rice Syrup Market by End Use :
- Household
- Commercial
- Household
- Organic Rice Syrup Market by Distribution Channel :
- Direct Sales
- Indirect Sales
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Retailers
- Others
- Direct Sales
Competitive Landscape
The global organic rice syrup market is highly fragmented with the presence of a large number of key players. As per the study, key players are manufacturing premium-quality organic rice syrups to expand their customer base.
For instance,
- In January 2022, Cargill, a renowned food corporation based in Minnesota, launched a new range of couverture chocolates and vegan chocolates. Its innovative brand, Chocolate ExtraVeganZa promises to provide an excellent sensorial experience by using organic rice syrup, sunflower kernel powder, and other plant-based ingredients.
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Key players in the Organic Rice Syrup Market
- Suzanne’s Specialties
- Nature’s One, Inc.
- Wuhu Deli Foods Co. Ltd.
- Axiom Foods
- California Natural Products (CNP)
- ABF Ingredients
- Cargill Incorporated
- ADM
Key Takeaways from Organic Rice Syrup Market Study
- North America is anticipated to generate about 24.2% of the organic rice syrup market share in 2022.
- Europe organic rice syrup market is estimated to hold nearly 26.9% of share by the end of 2022.
- Top 3 countries in the global organic rice syrup market are projected to account for approximately 31.2% of share during the evaluation period.
- By distribution channel, the online retail segment is expected to generate the lion’s share with entry of numerous start-up e-commerce companies.
- In terms of application, bakery and confectionary segment are expected to hold significant share in the global organic rice syrup market
- The global organic rice syrup market is set to reach a valuation of US$ 764 Million in 2022.
Fact.MR’s Domain Knowledge in Food & Beverages
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Food & Beverages team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Food & Beverages division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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