Market Overview
The Rice Syrup Market is driven by a wide range of applications for rice syrup as an alternative sweetener. Rice syrup is a nutritious sweetener that comes in a liquid form. Rice syrup is made via starch hydrolysis with rice as the raw material, which is refined and concentrated to produce the needed solids. It is an odorless, clear yellow viscous sweet syrup that's further processed in the food and beverage business before being stored in a sterile environment.
Rice syrup is most commonly used in food preparations that require high invert sugar concentrations. Invert sugar is a natural sweetener made up of glucose and fructose that is commonly used in bakeries and confectioneries. Rice syrup has a low freezing point, a high sweetening content when compared to sucrose, and anti–crystalline characteristics. The growing number of vegans who seek plant-based components in their food has fueled the rise of the rice syrup market. As consumers and product creators become more health-conscious, there has been an increase in demand for organic and natural sweeteners.
Market Segmentation
Based on the rice type, the Rice Syrup Market has been segmented into brown rice and white rice.
Based on the category, the Rice Syrup Market has been segmented into organic and conventional.
Based on the application, the Rice Syrup Market has been segmented into bakery & confectionery, beverages, dessert & dairy products, meat, poultry & seafood products, infant formula, and others.
Based on the region, the Rice Syrup Market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Regional Classification
Because of the shift in customer preferences toward healthier foods, Europe is likely to dominate the rice syrup industry globally. Europe's high consumption of baked goods and confectionaries is likely to drive regional market growth. Furthermore, rising consumer demand for natural sweeteners in food goods and the region's comparatively high beverage consumption is fueling market expansion in Europe. During the forecast period, Europe is expected to dominate the rice syrup market. During the forecast period, the rising popularity of organic, natural, and healthy components in food is likely to be a significant driver for the rice syrup market in the area. Furthermore, various strict European Union (EU) laws governing the distribution of rice syrup are instilling confidence in the minds of health-conscious consumers, boosting rice syrup sales in Europe.
Because of the rising consumption of snacks and baked goods as convenience foods, North America is predicted to have the greatest CAGR in the rice syrup business over the forecast period. Growing consumer awareness of the benefits of eating healthy meals as a result of many promotional initiatives by market players is helping to drive regional market expansion.
Industry News
The major key players in the market are Wuhu Deli Foods Co., Ltd (China), Axiom Foods, Inc. (US), Wuhu Haoyikuai Food Co., Ltd (China), California Natural Products Inc. (US), Associated British Foods Plc (UK), Cargill Incorporated (US), Bharat Glucose Pvt. Ltd (India), Matco Foods Limited (Pakistan), Shafi Gluco Chem (Pvt) Ltd (Pakistan), and Om Foods Inc. (Canada).
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