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What are the Driving Factors of this Market?
The rising number of health-conscious people drives the growth of the rice syrup market. The increasing number of people with diabetes, high blood pressure, and other heart diseases contribute to the growth of the rice syrup market as rice syrup is used as an alternative for the conventional table sugar. Rice syrup is made from organic rice which is free from pesticides and chemicals that make it safe to consume. Rice syrup has vitamin B which is a curing agent for hairs and nails. These benefits of rice syrup promote the growth of the rice syrup market. In addition, rising demand for rice syrup from foodservice industries like hotels and restaurants fuel the growth of the rice syrup market. The increasing demand for plant-based sweeteners and natural products stimulate the growth of the rice syrup market. On the flip side, less awareness about the rice syrup hinders the growth of the rice syrup market. Moreover, investment in research and development stimulates innovations that create novel opportunities for the growth of the rice syrup market. For instance, spray dried clarified rice syrup solids are available in tablet forms that are easy to consume.
What is the size of the Global Rice Syrup Market Segment?
The rice syrup market is segmented on the basis of nature, raw material type, and end-use. The nature segment includes organic and conventional. The organic rice syrup is expected to hold a prominent share in the nature segment of rice syrup market. On the basis of raw material type, the rice syrup market is divided into brown rice and white rice. The end-use segment includes bakeries, confectionaries, beverages, desserts & dairy products, infant formulae, and food services.
What is the Regional Market Growth of Rice Syrup Market?
Geographically, Europe holds a dominant share in the global rice syrup market. The increasing consumer preference towards healthy food products and natural sweeteners contribute to the growth of the rice syrup market in Europe. North America is expected to grow in the global rice syrup market with a healthy CAGR over the forecast period. The increasing health conscious people in North America fuel the growth of the rice syrup market in the North America region. Asia-Pacific is anticipated to grow in the rice syrup market owing to rising demand for natural sweeteners.
The rice syrup manufacturers are adopting strategies such as merger and acquisition to expand their market share. The major companies in rice syrup market are Wuhu Deli Foods Co., Ltd., Wuhu Haoyikuai Food Co., Ltd, Axiom Foods, Inc., California Natural Products Inc., Cargill Incorporated, Habib-ADM Limited, ABF Ingredients, Ltd., Bharat Glucose Pvt. Ltd., Shafi Gluco Chem (Pvt) Ltd., Matco Foods Limited, and other companies. Rice syrup is gaining popularity due to its organic nature and safety in consumption.
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