The Brazil rice protein market will expand from US$2.861 million in 2020 to US$4.949 million in 2027 at a CAGR of 8.14%. Protein is an essential nutrient for the maintenance of the body. These can be found in various food items such as milk, eggs, soy, fish, and meat. Protein powders are processed protein sources, mainly consumed after muscle exercises to tone the body. Rice protein is a new variant of plant-based protein powders, with additional benefits over its other plant-based alternatives. They are considered better taste, allow easy absorption, are easily digested, and normalize blood sugar levels. They are hypoallergenic and devoid of milk, wheat, or soy, making them a healthy choice. The prevalence of obesity and overweight related to diabetes in Brazil has steadily increased the demand for plant-based protein sources. Rice protein is an excellent source of healthy protein for the population in Brazil.
The sales of Rice protein in South America are fueled by the collaborations between different players in the market. For instance, Axiom Foods has partnered with Univar Solutions Brazil to sell its products in Brazil. Univar Solutions is a leading global distributor of ingredients and chemicals. It collaborates with major industry players to support its product offerings. The increase in demand for rice protein in Brazil is also being supported by the decrease in demand for soy protein.
The growing middle class in Brazil is bringing a change in the living and eating habits of the people.
Brazilians follow a "self-care" bandwagon focused on nutrient-rich foods, exercise, and sustainable food options. The growing environmental concerns in Brazil have made consumers change their behaviour, i.e., many people prefer eco-friendly products to those degrading the environment. In the past few years, the young population in Brazil has been getting into fitness trends like gyms and clubs, which has raised the demand for supplements like protein supplements, energy drinks, smoothies, etc. Healthfulness and convenience are the driving engines in the Brazilian food and Healthcare industry. Additionally, Brazil is one of the largest producers and exporters of rice. It produces high-quality rice and gets support from various institutions and governments. Manufacturers can leverage this to get the required amounts of rice as a raw material in their manufacturing setups.
COVID-19 has caused a global lockdown, which has significantly influenced the rice protein market since it causes a lack of raw materials, a labour shortage, transportation issues, greatly inflated costs, and other issues. Although Because of its useful properties and the rising desire for alternatives to animal protein and other plant proteins like soy and whey, the demand for rice protein has significantly expanded since COVID-19. Additionally, consumers are more likely to favour protein-rich food items and healthy food alternatives. The rising demand for rice protein will ultimately rise along with changing lifestyles and healthy eating practices. However, high prices for rice protein make it difficult for customers in developing nations and middle-class consumers to pay. This, combined with a lack of knowledge about rice proteins, is projected to restrain the market's expansion.
|Market Size Value in 2020||US$2.861 million|
|Market Size Value in 2027||US$4.949 million|
|Growth Rate||CAGR of 8.14% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Source, Product Type, Application, And Distribution Channel|
|Companies Covered||Axiom Foods, BENEO-Palatinit GmbH, Golden Grain Group, Tomorrow Foods|
|Customization Scope||Free report customization with purchase|
Golden Grain Group
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