The Rice Syrup Market is estimated to grow at a CAGR of 4.1% in the forecast period. The market is likely to be driven by a number of factors such as a wide range of applications of rice syrup as an alternative sweetener and the increasing popularity of organic rice syrups.

Growing demand for organic and natural sweeteners has been observed, owing to the increasing health consciousness among consumers and product developers. However, there are very few natural sweeteners available in the market right now. Due to this, it is expected that there will be launches of new products with natural ingredients, such as rice syrup, which is anticipated to drive the growth of the global rice syrup market during the forecast period. In Europe, rice syrup is the most preferred natural sweetener used in food processing industries.

Key Market Trends

Rising Cultivation of Organic Rice is Driving the Organic Syrups Market

Organic farming is rapidly gaining recognition worldwide as a promising means to offer healthier food and to ensure environmental sustainability. Currently, organic produce including organic rice is in huge demand owing to its potential to fetch a premium price in the global market. Organic rice is enriched with higher nutritional content and organic rice is grown under strict regulation imposed by government regulatory bodies such as USDA, European Commission, and other regulatory bodies. These regulations state that organically produced seeds for irrigation, no use of synthetic fertilizers and pesticides, and complete records of input and operation. Currently the demand for organic rice in the food and beverage industry in increasing with the robust growth rate. The rising organic rice production is simultaneously developing the organic rice syrup production as the rice industry readily supplies raw materials for the syrups industry. This is why there is likely to be significant growth in the organic segment of the market.

Europe is to Dominate the Rice Syrup Market

Europe is forecasted to dominate the rice syrup market during the forecast period. The growing popularity of organic, natural, and healthy ingredients in the food is expected to be a potential driver for the growth of the rice syrup market in the region during the forecast period. Furthermore, several stringent regulations by the European Union (EU) over the distribution of rice syrup are imbibing a sense of confidence among the minds of health-conscious consumers, thereby fueling the sales of rice syrup in Europe.

Competitive Landscape

The market is currently fragmented, and the degree of fragmentation will increase during the forecast period. Market vendors are adopting innovative technologies to manufacture high-quality rice syrups that will enable them to maintain and increase their customer base in the rice syrup market.

Though the accelerating growth momentum will offer immense growth opportunities, the rising popularity of substitutes will challenge the growth of the market participants. To increase their rice syrup market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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