Rice Starch Market Size and Growth Analysis:
Rice Starch Market size was valued at USD 162 million in 2022 and is anticipated to reach over USD 234 million by 2027. The global rice starch market tends to experience moderate growth to record a CAGR of about 6% throughout the forecast period 2022 – 2027.
Rice starch is characterized by tiny granules which are tinier than those of other cereals, roots, and tubers. Its size almost resembles the size of a fat globule. It is a very fine-grained and tasteless powder which acts as a natural fat substitute. It is manufactured by processing raw rice. It also provides a creamy texture.Modified rice starch is one of the popular vegan substitutes for traditional powdered gelatin. Rice starch adds a creamy, smooth texture to various prepared foods such as soups and sauces. The extraction of rice starch produces a large quantity of protein and fibre residue.Rice starches are extensively used in various industries such as the pharmaceutical industry, chemical industry, paper industry, and the cosmetic industry. Various products require rice starches in their manufacturing such as jarred baby foods, processed food mixes and medicines. These factors are expected to boost the market growth of rice starch globally.
Segmentation Analysis:
By Product:
- Food Grade
- Pharmaceutical Grade
- Cosmetic Grade
Based on product, the rice starch market is segmented into Food Grade, Pharmaceutical Grade and Cosmetic Grade. Among these, the Food Grade market is the most dominant and is expected to contribute more than two-thirds of the global market share. The food-grade segment is fuelling the rice starch market globally due to its extensive application in the food industry. The growing demand for rice starch powder rice in different and various food products is estimated to serve major growth opportunities for the market of rice starch. Powder forms are extensively utilized in the preparation of bakery food products, thus growing consumption of bakery food products around the globe is projected to foster the market growth of the rice starch over the forecast period of 2022 to 2027. Moreover, the growing demand for dairy products and fruit products is additionally expected to reinforce the market growth. Increasing demand for healthy and safe food products among consumers is predicted to supply potential opportunities to the market of rice starch. The increasing popularity of rice products alongside the growing consumer focus on healthy lifestyles is probably going to drive this market’s growth.
By Application:
- Baked Goods & Bakery Fillings
- Confectionery Coatings & Liquorice
- Dairy Desserts & Yoghurt
- Dairy Fruit Preparations
- Body Powder
- Dry Shampoo
- Other
The rice starch market based on application is divided into seven categories namely Baked Goods and Bakery Fillings, Confectionery Coatings and Liquorice, Dairy Desserts and Yoghurt, Dairy Fruit Preparations, Body Powder, Dry Shampoo and Others. Out of these, baked goods and bakery fillings are the most dominant segment of the market. It is used extensively in the baking industry in making a lot of products. It imparts a neutral taste and keeps the original taste and flavour intact. They are easily digestible and provide an excellent texture to the end product. It offers many different solutions meeting all the consumer needs thereby dominating the application segment of the market. The personal care products category is also gaining traction and is expected to grow significantly in the forecast period.
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Regional Analysis:
- Europe – United Kingdom, Spain, Germany, Italy, and France
The increasing utilization of various quality products made from rice starch is driving the market in this region. The extensive use of rice starch in the bakery segment is propelling the market forward as well. Germany, Italy, and France are the major contributors to this region.
- The Asia Pacific – India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
The Asia Pacific is the dominant region in the rice starch market globally. The growing demand for rice starch and its extensive applicability in a wide variety of industries is boosting the market growth in this region. The personal care industry in the emerging economies of the Asia-Pacific region is boosting the market for rice starch as well. China and Japan are the major contributors to this region.
- North America – the United States and Canada
- Latin America – Brazil, Argentina, Mexico, and the Rest of LATAM
- The Middle East and Africa – Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)
Latest Industry Developments:
In October 2019, Ingredion launched a new line of organic tapioca and rice starches, which are the company’s first certified natural products to be manufactured in the Asia Pacific and available worldwide. Purity Bio starches, according to Ingredion, are developed to suit the needs of customers in the Asia-Pacific area in terms of product creation as well as operational efficiency.
Western Polymer, a private producer of native and modified potato starch for food and industrial purposes, was bought by Ingredion Inc. in March 2019. The transaction’s financial specifics have not been revealed. Founded in 1952, Western Polymer is headquartered in Moses Lake, Washington, and operates in three United States.
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