Published: Jan, 2019
Transparency Market Research (TMR) delivers detailed insights into the global rice syrup market, in its upcoming outlook titled, 'Rice Syrup Market: Global Industry Analysis and Forecast 2019-2027'. The global rice syrup market is projected to register a CAGR of 3.8% in terms of value during the period of forecast, due to various factors influencing the market, regarding which, TMR offers detailed insights.
Asia Pacific to Witness Predominant Growth in the Rice Syrup Market
Being a developing region with a high population of health-conscious consumers, and with increased purchasing power for processed foods, Asia Pacific holds a significant compound annual growth rate in the global rice syrup market, due to the increasing consumption of processed foods containing natural ingredients, and factors such as favorable trade policies and regulations. It is anticipated that Asia Pacific would witness a significant growth rate in the rice syrup market, accounting to 4.8% during the forecast period.
High Propensity for Organic Rice Syrup
On the basis of nature, the organic rice syrup segment is expected to grow at a compound annual growth rate of 4.6% during the forecast period. Increasing consumer awareness for chemical-free cosmetic products over the years has increased the market penetration of organic rice syrup. As a chemical-free ingredient, unrefined rice syrup has substantial demand among natural and organic cosmetic manufacturers.
Rising Demand for Clean Label Food Products Boosting the Market
The demand for clean label food has been witnessing substantial increase all over the world in recent years. Increasing consumer awareness regarding the health benefits of products containing organic ingredients are bracing the development of clean label food products. As clean label ingredients are produced without excessive addition of artificial ingredients and chemicals, and are minimally processed, consumers show keen interest towards them, which is one the major driving factors of the global rice syrup market.
Increasing Applications of Rice Syrup in the Bakery and Beverage Industries
Rice syrup has a mild-sweet taste, which enables its application in baked goods and beverages. It also gives a delicious flavor to meat, poultry, and seafood dishes. In recent years, there has been a growth in the rice syrup market, as some bakeries have incorporated the use of rice syrup instead of regular sugar and chemical sweeteners. Thus, it is anticipated that, there would be lucrative opportunities for rice syrup manufacturers in the bakery and beverage industries during the forecast period.
Increasing Demand for Rice Syrup in Infant Formulae
Breast milk is the most essential milk for babies, as it helps provide the necessary immunoglobulins for a baby to build its immune system. The WHO suggests exclusive breastfeeding for the first 6 months, and continued breastfeeding for as long as possible. In recent years, rice syrup is increasingly being used in infant nutrition as a healthy alternative for breast milk for better digestion. Brown rice syrup can also help treat watery stools in infants by promoting better digestion and supplementing adequate nutrition. As such, rice syrup is expected to have wider opportunities in infant formulae during the forecast period.
Rice Syrup Market: Competition Dashboard
TMR has profiled some of the most prominent companies active in the global rice syrup market, such as Wuhu Deli Foods Co., Ltd., Axiom Foods, Inc., Wuhu Haoyikuai Food Co., Ltd, California Natural Products Inc., Cargill Incorporated, Habib-ADM Limited, ABF Ingredients, Ltd., Bharat Glucose Pvt. Ltd., Shafi Gluco Chem (Pvt) Ltd, Matco Foods Limited, Om Foods Inc.., Nature Bio-Foods Ltd, Windmill Organics Ltd., and others., to provide a wider view of the rice syrup market across the world.
Rice Syrup Market: Key Insights
Key global manufacturers and product developers who are processing rice syrup are focusing on reducing arsenic concentration using advanced refining processes without reducing the nutritional value. Manufacturers are more inclined towards processing organic rice syrup due to the growing demand from consumers. Rice syrup is increasingly consumed as a healthy alternative of honey by vegan consumers.
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