Size, Trends, and Analysis of Rice Syrup Market from 2024 to 2031 – Featuring California Natural Products, Archer Daniels Midland Company, and Pioneer Industries Pvt. Ltd.
Published on: March 26, 2024.
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Rice Syrup Market: Anticipated Growth and Market Trends
The global rice syrup market is expected to experience a significant Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period. This growth can be attributed to the increasing use of syrups in daily meals, including breakfast, as well as the rising demand for rice syrup. Consumers in emerging economies are increasingly investing in organic food products with limited or no sugar content. This trend has motivated market players to develop new products made with natural ingredients. In order to meet this demand, players in the industry are collaborating with each other to expand their production and product offerings.
For example, in June 2018, Ciranda, Inc., a global supplier of certified organic, non-GMO, and fair-trade ingredients, partnered with Matco Foods Ltd., a rice exporter in Pakistan. Together, they produced two types of sweeteners: organic brown rice syrup and organic clarified brown rice syrup. This collaboration allowed Ciranda to expand its sweetener portfolio, which includes organic tapioca glucose and fructose syrups, organic honey, organic agave syrup, inulin, and organic crystalline sugars.
However, the COVID-19 pandemic had a negative impact on the rice syrup market. Trade restrictions and strict government regulations resulted in decreased demand for rice syrup as the food processing industry halted production. Production units were closed and distribution channels were disrupted, making it difficult for consumers to purchase rice syrup. As a result, the global rice syrup market experienced a decline in growth. However, it is anticipated that post-COVID-19, there will be an increased demand for organic or plant-based syrups like rice syrup, as consumers become more inclined towards adopting organic products with natural ingredients.
Market Coverage and Segmentation
The market analysis covers the period from 2024 to 2031 and includes the following segments:
- Type: Brown Rice, White Rice
- Nature: Organic, Conventional
- Application: Bakery and Confectionery, Beverages, Dessert and Dairy, Meat, Poultry, Seafood, Instant Formula
The market coverage extends to various regions, including:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Key Players in the Rice Syrup Market
The rice syrup market includes several key players, such as:
- California Natural Products
- Archer Daniels Midland Company
- Pioneer Industries Pvt. Ltd.
- Wuhu Deli Foods Co.Ltd.
- Gulshan Polyols Ltd.
And many others.
