Rice starch is classified into small particles, with a particle size which is much smaller than other tubers, grains, and roots (such as potatoes and corn). Rice starch is a very fine-grained and tasteless powder made by processing raw rice. Rice starch also provides a creamy texture and can be used as a natural substitute for fat. Rice starch is widely used in food industry, pharmaceutical industry, chemical industry, and cosmetic industry. Rice starch is used toprepare products such as medicines, processed food mixes, and canned baby food.
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COVID-19 Impact analysis
Due to the recent COVID-19 outbreak, several major rice exporting countries implemented policies which ensures adequate domestic supply. Some countries has also suspended new contracts for rice exports in the month of April 2020.
Mobility and logistics had faced challenges due to social distancing regulations which has decreased the availability of rice in the domestic markets of many countries and contributed to lower export volumes. As a result, rice products and rice starch market has been affected widely.
As during the world price shocks, rice export prices rose sharply, increasing by 25%, threatening the food security of countries dependent on rice imports. Although rice export restrictions eased and quarantine measures were loosened across the globe, some regions rice prices remained relatively high in the subsequent months and due to this there was a decrease in the consumption of rice products and it has highly affected Rice Starch Market.
Top Impacting Factors
Among these market,the food grade segment is expected to contribute more than 50% of the market share and is expected to grow in a higher space. The food grade market segment is expected to promote the rice starch market during the forecast period.
Depending on the utilization of rice starch, the market is classified into pharmaceuticals, cosmetics & personal care, and food & beverage. Food andbeveragesaresubdivided into baked goods and baked fillings, candy, fruit products, and dairy products.
There is a huge demand inthe cosmetic industry, in cosmetic grade rice starch is widely used by manufacturers tomanufacture cosmetics and personal care products on a large scale.Therefore, the global rice starch market is expected to significantly increase its revenue contribution during the forecast period.
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Hike in the Utilization in Food & Beverages Industry
Growing demand for powder rice or rice starch in various food products is predicted to serve major growth opportunities to the market of rice starch. Powder form are widely utilized in the preparation of bakery food products, thus growing consumption of bakery food products round the globe is projected to foster the market growth of the rice starch over the forecast period. Moreover, 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.
Increasing popularity of rice products as a serious source of nutrients alongside growing consumer focus towards healthy lifestyle is probably going to drive these markets growth. Growing problem of obesity among consumers due to unhealthy food habits alongside increasing demand for natural ingredients in food products is probably going to spice up the Rice Starch market growth.
Increased Demand in Cosmetic Industry
In the current situation, people are more curious about natural products. This can play a crucial role in the expansion of Rice Starch market. Increasing awareness of functional foods and dietary supplements is predicted to drive the market during the forecast period. Increased awareness about different health benefits of various rice products has helped in increasing the consumption of these products due to which there is an increase in the Rice Starch market. As now, consumption of healthy food products, rice starch market is trending across the world.
There is a huge demand in the cosmetic industry. In cosmetic grade, rice starch is widely used by manufacturers in the production of cosmetics and personal care products on a very large scale. Therefore, the global rice starch market is expected to significantly increase its revenue contribution during the forecast period.
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Key Benefits of the Report
This study presents the analytical depiction of the RICE STARCH industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the RICE STARCH MARKET share.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the RICE STARCH MARKET growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed RICE STARCH MARKET analysis based on competitive intensity and how the competition will take shape in coming years
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