Rice Syrup Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Rice Syrup Market is projected to expand from USD 2.49 Billion in 2025 to USD 3.73 Billion by 2031, reflecting a CAGR of 6.97%. Produced through the enzymatic fermentation of rice starch, this liquid sweetener acts as a functional substitute for refined sugar and corn syrup within the food manufacturing sector. Market growth is primarily supported by rising consumer demand for plant-based and gluten-free ingredients, alongside the industrial requirement for effective binding agents in beverages and confectioneries. This upward trajectory is further secured by a reliable supply of raw materials; the Food and Agriculture Organization forecasts that global rice production will reach a record 543 million tonnes in 2025, guaranteeing a steady supply chain for derivative processing.

Despite these positive indicators, the market confronts a major obstacle in the form of agricultural price volatility. Variations in global rice prices, influenced by climatic shifts and logistical hurdles, directly influence the cost of producing rice syrup, often rendering it less competitively priced than conventional options like high-fructose corn syrup. As a result, manufacturers may find it difficult to sustain profit margins when raw materials are scarce, a factor that potentially hinders widespread adoption in cost-conscious mass-market sectors.

Market Drivers

Growing health apprehensions surrounding refined sugars and artificial sweeteners are fundamentally transforming the Global Rice Syrup Market. As health-aware consumers increasingly avoid high-fructose corn syrup in favor of options perceived as natural, producers are reformulating their goods to achieve clean-label status. Characterized by its hypoallergenic nature and mild sweetness, rice syrup has become a favored substitute in the movement toward transparent ingredient lists. This shift is highlighted by consumer trends; according to the '2024 Food & Health Survey' released by the International Food Information Council in June 2024, 66% of Americans stated they are actively attempting to reduce or avoid sugar intake, a sentiment that drives industrial demand for less-processed sweeteners like rice syrup.

Concurrently, the worldwide increase in plant-based and vegan dietary habits is broadening the application of this sweetener. Rice syrup serves as a critical vegan texturizer and binding agent in products such as cereals, granola bars, and non-dairy drinks, effectively substituting animal-based ingredients like honey. The significant size of this sector offers a reliable revenue source for suppliers; the Plant Based Foods Association reported in its '2023 Plant-Based Foods State of the Marketplace Report' in May 2024 that U.S. retail sales of plant-based foods hit $8.1 billion in 2023, emphasizing the vast market for plant-derived ingredients. This steady demand is generating real growth for key manufacturers, with Matco Foods Limited reporting a 38.58% surge in net sales for fiscal year 2024 in October 2024, demonstrating the market's robustness.

Market Challenges

The main obstacle confronting the Global Rice Syrup Market is the substantial price volatility inherent in agricultural raw materials. The production of rice syrup is tied directly to the stability of the global rice trade, yet fluctuations caused by regional supply constraints and logistical interruptions frequently disrupt production costs. In contrast to sweeteners that enjoy established, low-cost supply chains, manufacturers of rice syrup must manage unpredictable input costs. This instability undermines the capacity of suppliers to finalize long-term agreements with food and beverage firms that value price stability over functional advantages.

These financial pressures intensify during periods when specific processing grades are in short supply. When the cost of industrial rice varieties escalates, manufacturers experience immediate margin compression that is difficult to transfer to customers. For instance, the International Grains Council noted in November 2025 that export offers for California medium-grain rice reached a 15-month high of $869 per tonne. Such sharp price increases highlight the persistent challenge of maintaining price competitiveness; when raw material costs rise, the economic feasibility of rice syrup as a mass-market alternative declines, effectively halting its expansion into mainstream beverage and confectionery sectors.

Market Trends

A significant trend reshaping the industry is the strategic pivot toward organic brown rice syrup, motivated by manufacturers aiming to secure premium market segments that demand strict pesticide-free certifications and traceability. Unlike standard clean-label requirements, this movement demands substantial capital investment in vertically integrated supply chains to satisfy international organic standards, shifting production away from basic commodity processing. This emphasis on certified, high-grade output is generating considerable financial returns for capable producers; Matco Foods Limited reported in April 2024, within its '3rd Quarterly Financial Statements 2024', that the company achieved net sales of Rs. 21.23 billion for the nine months ending March 31, 2024, a result bolstered by its specialized organic rice syrup facility built to meet these changing global needs.

At the same time, the market is growing through new applications in cosmetic and pharmaceutical coatings, where rice syrup is prized for its functional attributes rather than its sweetness. In these fields, the ingredient serves as a hypoallergenic excipient and binder, providing a safe, plant-based option for medicinal syrups and tablet coatings that require adherence to stringent safety protocols. This diversification permits ingredient suppliers to offset the risks linked to the volatile food sweetener sector by establishing contracts in these high-value industries. As evidence of this growth, Habib Rice Products Ltd stated in its 'Annual Report 2024' in September 2024 that export sales rose to Rs. 689 million for fiscal year 2024, a trajectory driven by its ongoing commitment to providing specialized starch sugars to the confectionery and pharmaceutical sectors.

Key Players Profiled in the Rice Syrup Market

• Axiom Foods Inc.
• Archer Daniels Midland Company
• Cargill, Incorporated
• Wuhu Deli Foods Co., Ltd.
• Habib Rice Products Limited
• ABF Ingredients Limited
• Nature Bio Foods Ltd.
• Wai Lana Productions, LLC
• Gehl Foods, LLC
• California Naturals, Inc.

Report Scope

In this report, the Global Rice Syrup Market has been segmented into the following categories:

Rice Syrup Market, by Product Type:

• Organic
• Conventional

Rice Syrup Market, by Form:

• Liquid
• Powder

Rice Syrup Market, by Application:

• Food & Beverage
• Infant Formula
• Nutritional Supplements
• Others

Rice Syrup Market, by Sales Channel:

• Supermarket/Hypermarket
• Online
• Convenience Stores
• Others

Rice Syrup Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Rice Syrup Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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