New York, Aug. 09, 2022 (GLOBE NEWSWIRE) — Global demand for rice starch has grown significantly in recent years and this trend is expected to continue throughout the forecast period of 2022-2032 as well. The global rice starch market is estimated to expand rapidly at 6.5% CAGR and top a value of US$ 1.8 Bn by 2032.
There is high demand for cosmetic-grade rice starch to manufacture daily-use personal care and cosmetic products on a huge scale. It is commonly found in hair care and skin care products and is used to control shine, oil absorption, and reduce pore appearance. There is also growing evidence of the dermatological benefits of using rice starch to relieve the symptoms of dry or irritated skin that sufferers of eczema face. It is also an essential ingredient in dry shampoos.
The cosmetics industry is established in Western European countries such as France, the UK, and Germany, thereby increasing the demand for native rice starch throughout the region. Consumers are attracted to organic food because starch is available in its purest form. Ongoing trends such as organic, non-GMO, and clean label products are on the rise. As a result, there is increasing demand for kosher, clean label, and organic rice starch, globally.
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Key Takeaways from Market Study
- The market for rice starch is anticipated to grow at CAGRs of 7.9% and 8.1% in countries of Latin America and South Asia & Pacific, respectively, through 2032.
- Global market shares of South Asia & Pacific and East Asia are 10.9% and 13%, respectively.
- The Middle East and Africa rice starch market is expected to reach 153,701 metric tons by the end of 2032.
- Bakery product sales of rice starch are growing as the food & beverage industry grows at a healthy rate worldwide. Cosmetics & personal care industry sales in North America and Europe hold a market share of 10.4% and 15.3%, respectively.
- The native rice starch market is expanding, particularly in North America and Europe, as more customers seek products derived from natural and organic ingredients that are free of artificial additives and chemicals.
- Rising popularity of skin care products is driving the demand for rice starch in cosmetics in developing markets, particularly South Asian and Pacific countries.
- The European population represents a sizeable chunk of consumers for rice starch products. These customers are becoming more interested in organic and clean-label food products. As a result, the Europe native rice starch market is expected to expand at a CAGR of 4.7% between 2022 and 2032.
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“Consumers in developed economies are striving for products with low-fat, gluten-free, and clean label characteristics. Increasing investments in restaurant chains and food stalls could result in significant earnings for rice starch manufacturers,” says PersiStence Market Research analyst.
Rice starch manufacturers are focused on increasing their organic product offerings through collaboration, partnerships, and sponsoring farmers. Many manufacturers are providing organic and healthy food products to their consumers across the world.
- In April 2022, Ingredion EMEA unveiled its new clean-label native rice starches, ie NOVATION Lumina 8300 and 8600 functional starches, to enhance its supply chain and decrease its environmental impact.
- In November 2020, Beneo launched its first-ever instant functional rice starch “Remypure S52 P”, primarily targeting end-use sectors such as sauces & dips, dressings, dairy desserts, and bakery fillings.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global rice starch market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights on the rice starch market based on type (native and modified), nature (organic and conventional), and end use (cosmetics & personal care industry, food & beverage industry (dairy products, bakery, soups, sauces & dressings, infant formula (baby food), convenience foods, snacks & confectionery, beverages, others), pharmaceutical industry, feed industry, paper industry, and others) across six regions of the world.
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