Market Introduction
Rice syrup refers to the processed form of cultured rice. The rice is fermented using some enzymes such as 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.
Market Overview and Dynamics
The Asia Pacific rice syrup market was valued at US$ 244.5 million in 2018 and is projected to reach US$ 361.2 million by 2027; it is expected to grow at a CAGR of 4.4% during the forecast period, 2018-2027. Factors driving the market growth include the rising demand for convenience food and the growing use of rice syrups from dairy industry. However, the availability of substitute products is likely to have a negative impact on the market growth.
Key Market Segments
By rice type, the brown rice segment accounted for the largest market share in the Asia Pacific rice syrup market in 2018. In terms of category, the organic segment is expected to hold the largest share of the rice syrup market by 2027. In terms of application, in 2018, the bakery and confectionery segment held the most significant share of the rice syrup market in Asia Pacific.
Major Sources and Companies Listed
Some of the major primary and secondary sources for Asia Pacific rice syrup market included in the report are Axiom Foods, Inc., Malt Products Corporation, Cargill, Incorporated, Gulshan Polyols Ltd, Habib Rice Products Ltd., Wuhu Deli Foods Co., Ltd, and others.
Impact of COVID-19 Pandemic on Rice Syrup Market
COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the rice syrup market due to shutting down of factories, obstacle in supply chain, and downturn in world economy
Reasons to buy the report
Asia Pacific Rice Syrup Market Segmentation
Rice syrup Market – By Rice Type
Rice syrup Market – By Category
Rice syrup Market – By Application
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 244.5 Million |
| Market Size by 2027 | US$ 361.2 Million |
| CAGR (2020 - 2027) | 4.4% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Rice Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Rice Syrup Market is valued at US$ 244.5 Million in 2018, it is projected to reach US$ 361.2 Million by 2027.
As per our report Asia Pacific Rice Syrup Market, the market size is valued at US$ 244.5 Million in 2018, projecting it to reach US$ 361.2 Million by 2027. This translates to a CAGR of approximately 4.4% during the forecast period.
The Asia Pacific Rice Syrup Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Rice Syrup Market report:
The Asia Pacific Rice Syrup Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Rice Syrup Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Rice Syrup Market value chain can benefit from the information contained in a comprehensive market report.
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