Global Rice Syrup Market:
About this market
Technavio’s rice syrup market analysis considers sales from both conventional rice syrup and organic rice syrup. Our analysis also considers the sales of rice syrup in APAC, Europe, MEA, North America, and South America. In 2018, the conventional rice syrup segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing influence of online retailers will play a significant role in the conventional rice syrup segment to maintain its market position. Also, our global rice syrup market report looks at factors such as rising demand of rice syrup from the food services industry, rising number of organized retailing outlets and online retailers offering rice syrup, and increasing popularity of organic rice syrup. However, rising popularity of substitutes, instability in prices of raw materials and rising penetration of new players and threat of contamination in rice syrup may hamper the growth of the rice syrup industry over the forecast period.
Global Rice Syrup Market: Overview
The increasing popularity of organic rice syrup
Growing health consciousness among consumers has led to a shift in their preferences toward the consumption of organic food products, which are sourced from high-quality natural ingredients and are devoid of any synthetic additives. The increasing popularity of organic rice syrup is due to several product launches. For instance, US-based Ciranda collaborated with Matco Foods to launch two new natural sweeteners, namely organic clarified brown rice syrup and organic brown rice syrup. This demand for organic rice syrup will lead to the expansion of the global rice syrup market at a CAGR of over 4% during the forecast period.
Technological innovations in rice syrup manufacturing
The growing demand for rice syrup products and supplements led many vendors to emphasize on ensuring the production of high-quality and standard rice syrups. Hence, they have adopted innovative and high-precision technologies to produce and extract rice syrup. Vendors are producing syrups from rice starch hydrolysates using enzymes, which are widely used in the production of foods and beverages, such as fruit drinks, soft drinks, canned fruits, bread, cakes, breakfast cereals, and bars. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global rice syrup market during the forecast period 2019-2023, click here.
With the presence of several major players, the global rice syrup market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading rice syrup manufacturers, that include Gulshan Polyols Ltd., Habib-ADM Ltd., Lundberg Family Farms, Meurens Natural SA, and Windmill Organics Ltd.
Also, the rice syrup market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.