The North America rice protein market is anticipated to grow at a CAGR of 11.49% to reach a market size of US$144.013 million in 2027 from US$67.244 million in 2020. Protein is an important building block in the body and is also responsible for the repair of tissues. It is a micronutrient like fat and carbohydrate but can’t be stored in the body for future needs. Apart from red meat and milk, protein powders are also a major source of protein that is used by people to aid weight loss and tone body muscles. Rice protein is a plant-based protein and is a rich source of amino acids, Vitamin B, and Vitamin E. It is believed to cause no allergies along with being an easy-to-digest food. Rice protein made from brown rice has several advantages over its counter products, for instance, it is hypoallergenic, aids in balancing blood sugar reduces cholesterol and improves liver function. In North America, people are increasingly joining fitness clubs due to rising health insurance costs, growth in demand for wearable devices, and the availability of cheaper online streaming classes. This is also fueling the demand for rice protein in North America.
The growing inclination toward vegan diets in North America is anticipated to trigger market growth.
High dependency on animal foods is giving rise to a plethora of fatal diseases. Consequently, people are resorting to plant-based food items. Rice Protein can be a great source of protein-based protein made from plants. Besides, rising concern for animal safety is also expected to drive the demand for rice protein market.
In North America, consumers’ lifestyles are also becoming more dynamic as more thrust is being given to physical activities like yoga, sports, gym, etc. This trend is expected to increase the demand for easily digested protein-rich diets. Plant-based meats and milk have already been accepted by larger audiences, which can be a testament to the fact that plant-based products are in demand in North America. Additionally, growing awareness of the presence of such products in the market through mass advertising, especially on online platforms, is also expected to fuel the demand for rice protein.
Geographically, the United States is expected to witness the largest share of the rice protein market owing to the presence of a large number of players. Also, the rising number of diseases and efforts to reduce the consumption of red meat is expected to drive the demand for rice protein.
On the other hand, the Canadian population is ageing fast, which might influence the social and economic lives of the people in that country. The geriatric population might have a positive impact on the demand for easily digested proteins required for muscle development. Rising instances of obesity and several chronic diseases like diabetes are also expected to shift Americans towards a healthier lifestyle. Canadians are concerned about their environment and the economic growth of their country, and hence consider “green factors” when making a buying decision for products. Locally produced goods are preferred over imported ones.
As far as Mexico is concerned, the economy is facing falling rates of fertility and mortality, which is augmenting the rise of the geriatric population. This might also lead to the growth of the rice protein market as people are shifting towards healthier diets to maintain their health and delay dependency on younger populations.
COVID-19 has a positive growth in this market but as the growing vegan population increases demand for rice protein as they look forward to alternative protein sources. It is a healthier source of protein due to its ability to separate proteins from carbs. As a result, the market for rice protein is boosted by its high protein content. Due to its increased protein content, organic rice proteins are also becoming more and more popular, which serves as a stimulus for the growth of the worldwide fructose industry. Lactose-intolerant people can eat organic rice protein. Additionally, the absence of gluten is anticipated to open up the new market potential for rice protein worldwide. However, the strong demand hindered the supply, which had an impact on growth.
|Market Size Value in 2020||US$67.244 million|
|Market Size Value in 2027||US$144.013 million|
|Growth Rate||CAGR of 11.49% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Source, Product Type, Application, Distribution Channel, And Country|
|Regions Covered||The United States, Canada, Mexico|
|Companies Covered||Axiom Foods, Inc., NOW Foods, Naked Nutrition, North Coast Naturals, Growing Naturals LLC, AIDP Inc., Beneo-Palatinit GmbH, Ribus, Inc., Golden Grain Group|
|Customization Scope||Free report customization with purchase|
Axiom Foods, Inc.
North Coast Naturals
Growing Naturals LLC
Golden Grain Group
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