North America Rice Syrup Market Key Companies and SWOT Analysis by 2027

The North America rice syrup market was valued at US$ 154.9 million in 2018 and is projected to reach US$ 231.2 million by 2027; it is expected to grow at a CAGR of 4.6% during the forecast period, 2018-2027.

Rice syrup refers to the processed form of cultured rice. The rice is fermented using some enzyme-like beta and alpha-amylase that breaks down the starch content into simple molecules of sugar such as glucose, maltose, and fructose. Owing to the presence of excessive concentration of starch, the rice syrup finds its application as sweeteners or sweet enhancers in food processing. The nutritional values get reduced during the processing and refining processes. The market is driven by the wide application of rice syrup as an alternative sweetener. Rice syrup is available as a liquid solution of a nutritive sweetener. Moreover, an upsurge in the popularity of organic rice syrup as a result of growing health consciousness among consumers also drives the market growth for rice syrup.

The US contributed to the largest share of the North America rice syrup market. The US is a developed market for rice syrup due to the rising consumption of convenience products such as bakery and confectionary and surging demand from the working population due to busy lifestyles. Moreover, the presence of well-established food industries in the country is the key factor propelling the market growth in the US.

Impact of COVID-19 Pandemic on Rice Syrup Market

The US has the highest number of confirmed cases of COVID-19, compared to Canada and Mexico. This is likely to negatively impact the food and beverage industry in the region, which in turn affect the supply and distribution chain. Additionally, the overall manufacturing processes, research, and development activities is also expected to impact the market growth.

North America Rice Syrup Market

Market Insights

Growing use of rice syrup from dairy industry

A significant shift in the consumer’s taste and preferences are causing a major transition in the food & beverage industry, and accordingly, manufacturers are striving to reinvent their product offerings so as to meet up the expectations of the changing and trending consumer preferences. Rice syrups have gained acceptance in several dairy & frozen desserts products such as frappes, flavored milk, smoothies, milkshakes, yogurts, and whipped creams. The growth of the dairy sector in developed and developing countries is driving the growth of the rice syrup market. The dairy industry has become an important part in North America and is projected to grow at a significant rate during the forecast period. This factor is expected to  boost the demand for rice syrups in the near future. The overall rise in the production of dairy and dairy products and the surging demand for dairy-based products is anticipated to bolster the demand for rice syrups in North America.

Rice Type-Based Market Insights

Based on rice type, the rice syrup market is segmented into brown rice and white rice. The brown rice segment accounted for the largest share of the North America rice syrup market in 2018. Brown rice syrup is also known as rice syrup or rice malt syrup. It is produced by fermenting the brown rice, breaking the starches with the help of certain enzymes, a then finally reducing the substance until it turns into a syrup-like consistency. Broken down brown syrup is pure glucose. Brown rice syrup is used in many healthy and organic food products like snack bars or breakfast cereal as an alternative to artificial sweeteners, white sugar, and high fructose corn syrup. Granola bars are a type of recipe and are also called brown rice syrup.

North America Rice Syrup Market, by Application– 2018 and 2027

Category Market Insights

Based on category, the rice syrup market is segmented into organic and conventional. In 2018, the organic segment accounted for the largest share of the North America rice syrup market. Organic rice syrup is a type of sweetener that is applied in various food & beverage applications. It is normally used as a sugar alternative and is a form of glucose that contains sugar. Organic rice is fermented without making use of pesticides and synthetic agents which protects the syrup and make it fit for consumption for consumers belonging to all age groups. Organic rice is mainly produced from pesticide and fertilizer free farming, and therefore organic rice is considered to be high-quality grain.

Application-Based Market Insights

Based on application, the rice syrup market is segmented into bakery and confectionary, beverages, dessert and dairy products, meat, poultry and seafood products, infant formula, and others. In 2018, the bakery and confectionary segment dominated the North America rice syrup market; whereas, the desserts & dairy products segment is expected to grow at the fastest rate during 2019–2027. Rice syrup is sourced from brown rice and white rice and has gained magnanimous adoption in food items, especially in bakery and confectionery. Rice syrup is a product recommended by health experts to be used in the absence of alternative sweeteners. Rice syrup is used in baking as a substitute for honey and white table sugar. It is about one-half as sweet as table sugar and has to be used wisely in baking.

Rice syrup Market – By Rice Type

• Brown Rice
• White Rice

Rice syrup Market – By Category

• Organic
• Conventional

Rice syrup Market – By Application

• Bakery and Confectionary
• Beverages
• Dessert and Dairy Products
• Meat, Poultry and Seafood Products
• Infant Formula
• Others

Company Profiles

• Axiom Foods, Inc.
• Malt Products Corporation
• California Natural Products
• Cargill, Incorporated
• Gulshan Polyols Ltd
• Habib Rice Products Ltd.
• Lundberg
• Wuhu Deli Foods Co., Ltd.

North America Rice Syrup Report Scope