Europe rice protein market is projected to expand from US$43.763 million in 2019 to reach US$82.271 million in 2025 at a CAGR of 11.09%. The European region has a large number of players in the rice protein market. The expansion in Europe is led by players such as Brenntag Food and Nutrition and Healy Group. Many countries in Europe such as the UK, Germany, France, and Ireland are facing rising demand for high protein, plant-based, gluten-free sports supplements. Due to environmental damage to animal farming, the EU is also changing its policies, and consumers are turning towards vegetarian and vegan diets. This is anticipated to raise the demand for rice protein as it can substitute the conventional animal-based protein source with more nutritional benefits.
The growth in the Food and Beverage Industry in Europe is expected to influence the Rice Protein market. The increased investments by major players in Food & Beverage to develop innovative products that can serve a wide range of consumers' needs are propelling the growth of the rice protein market too. For instance, Healy Group, a functional food ingredients supplier in the United Kingdom has launched a range of plant-based protein-based out of rice, with a brand name PrimaPro. The company claims to cater to the sports nutrition needs of the consumers with its other high protein beverages and snacks too along with PrimaPro. Another factor responsible for the growth of this market is the shortage of time with a growing working population to keep a track of protein intake and compensate for any shortfall. One player, named Huel, Inc., has launched Huel Black Edition, which is a powdered food infused with various nutrients. The Huel Black Edition is rich in protein, fiber, and essential vitamins and minerals and low in sugar and salt.
The emergence of other plant-based substitutes of rice-protein like soy-protein can act as a restraining factor for the growth of this market.
Many companies in the food and beverage industry are developing various plant-based sources of protein incorporating soy protein or pea protein as the main ingredients in their products. The newly emerging market for plant-based meat and dairy alternatives is also expected to hamper the growth of this market in this region. In October 2018, with the objective to expand the capabilities of pea protein capacity, Roquette Frères acquired Texpall’s extrusion unit in the Netherlands. Further, in January 2020, the Roquette Frères reinforced its partnership with the Beyond Meat the provider of meat substitutes.
The United Kingdom is expected to show the highest growth throughout the forecast period due to the presence of a large number of players and changing consumption patterns.
Demographic and social differences among people in countries may impact the sales of rice protein in the European region. For instance, France’s population faces a high and diverse mass consumption trend as they equate consumption to pleasure. Sports, travel, entertainment, and culture play an indispensable role for the people in France. A recent trend towards adopting more eco-friendly and sustainable foods has raised the demand for labeled, vegan, nutritious foods. These factors may lead to the growth of the rice protein market in France. In other countries such as the United Kingdom and Germany, ethical and environmental concerns are drifting the purchase decisions of the consumers. Consumers are willing to pay a higher price for products supporting a cause. The sales of organic products are also experiencing a surge in recent years.