Rice Syrup Market To Reach $2.96 Billion By 2030 | CAGR: 5.1%

Rice Syrup Market Growth & Trends

The global rice syrup market size is expected to reach USD 2.96 billion by 2030, growing at a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is expected to grow due to several key factors, including its diverse applications as an alternative sweetener and the rising popularity of organic rice syrups. The high starch content of rice syrups makes them extensively useful in the food processing industry. Brown rice, in particular, is widely accepted by consumers as a natural sweetener alternative.

Increasing health consciousness among individuals has spurred the demand for natural sweeteners. Organic rice syrups, which are naturally prepared and gluten-free, cater to this demand. Additionally, these syrups are allergen-free and suitable for vegan and vegetarian diets, providing an alternative to honey. Liquid rice glucose, derived from rice syrup, serves as a natural sweetener applicable in various forms. In response to growing health awareness, manufacturers are considering liquid rice glucose as a viable natural sweetener for their products. Companies such as Cargill Inc. and California Natural Products Inc. have recognized the demand for natural sweeteners and have introduced new products incorporating ingredients like brown rice syrup. Moreover, rice syrup is perceived as a healthier option compared to corn syrup, which is higher in calories and commonly used in high-temperature cooking and candy making.

In developing economies, factors such as rapid urbanization, evolving food habits, the increasing popularity of packaged foods, and heightened consumer awareness of clean label products are driving the demand for rice syrups. The growing preference for convenience foods, driven by modern, fast-paced lifestyles, is significantly contributing to the expansion of the rice syrup market. Rice syrup is increasingly utilized to enhance texture in bakery and confectionery products. Its extended shelf life further attracts food manufacturers to use it in packaged food items.

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Rice Syrup Market Report Highlights

• Based on type, conventional rice syrup accounted for a revenue share of 65.4% in 2023. Conventional rice syrup is more widely available than organic alternatives. This broader availability ensures that manufacturers can easily source it in large quantities, which is crucial for meeting the growing demand in the food and beverage industry.

• Based on application, food & beverage for a market share of 32.4% in 2023. Rice syrup is gluten-free, hypoallergenic, and vegan, making it a suitable sweetener for products catering to consumers with specific dietary needs, such as those following gluten-free, vegan, or allergen-free diets. This compatibility with various dietary restrictions is expanding its use in the food and beverage industry.

• Based on form, liquid rice syrup is expected to grow at a CAGR of 6.2% from 2024 to 2030. Liquid rice syrup integrates smoothly into a wide variety of food and beverage formulations, including baked goods, sauces, and dressings. Its liquid state allows it to blend easily with other ingredients, providing consistent sweetness and texture.

• Based on distribution channel, online is expected to grow at a CAGR of 6.2% from 2024 to 2030.  E-commerce platforms frequently offer competitive pricing, discounts, and special promotions, making online shopping an attractive option for budget-conscious consumers. Additionally, online retailers often provide bulk purchasing options and subscription services that can further reduce costs. The ability to easily compare prices across different websites also empowers consumers to find the best deals.

• North America is expected to grow at a CAGR of 4.9% from 2024 to 2030. The increasing popularity of organic and natural foods in North America is driving demand for ingredients like rice syrup. As consumers seek out organic and non-GMO products, rice syrup, particularly in its organic form, is becoming a preferred choice in various food and beverage applications.

Rice Syrup Market Segmentation

Grand View Research has segmented the global rice syrup market based on type, application, form, distribution channel, and region:

Rice Syrup Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Organic Rice Syrup

• Conventional Rice Syrup

Rice Syrup Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Food & Beverage

• Infant Formula

• Nutritional Supplements

• Sauces & Dressings

• Others

Rice Syrup Form Outlook (Revenue, USD Billion, 2018 - 2030)

• Liquid

• Powder

Rice Syrup Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Supermarkets & Hypermarkets

• Convenience stores

• Online

• Others

Rice Syrup Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia & New Zealand

• Central & South America

  • Brazil

• Middle East & Africa

  • UAE

List of Key Players in the Rice Syrup Market

• Axiom Foods Inc.

• Archer Daniels Midland Company (ADM)

• Cargill, Incorporated

• Wuhu Deli Foods Co., Ltd.

• Habib-ADM Limited

• ABF Ingredients (ABFI)

• Nature Bio-Foods Ltd.

• WaiLana

• Khatoon Industries

• California Natural Products