Global rice starch market – industry trends and forecast for 2030

The global rice starch market is on a significant growth trajectory, driven by rising consumer demand for gluten-free and allergen-free products. Valued at $195.82 million in 2022, the market is expected to reach $314.31 million by 2030, growing at a CAGR of 7.1% from 2023 to 2030. The expanding applications of rice starch in the food, cosmetics, and pharmaceutical industries are key factors propelling this growth. Major market players include Cargill, Dow, and BASF. However, the market faces challenges, such as increasing lactose intolerance affecting consumer choices.

Rice starch is increasingly recognized for its versatility and health benefits. It is used as a thickener, stabilizer, and texturizer in various food products. Additionally, its hypoallergenic properties make it ideal for use in baby food and specialized dietary products. In the cosmetics industry, rice starch is valued for its natural and gentle properties, making it a popular ingredient in skincare products. The pharmaceutical sector also utilizes rice starch as an excipient in drug formulation.

Despite its benefits, the rice starch market faces hurdles such as the high cost of production and competition from other starch sources like corn and potato. Moreover, consumer preferences are continually evolving, with a growing trend towards plant-based and organic products, which could influence market dynamics.

The global rice starch market is poised for growth, driven by its expanding applications and health benefits. However, market players must navigate challenges related to production costs and competition while adapting to changing consumer preferences.

For more detailed information, visit the Data Bridge Market Research report.