The rice protein market is projected to grow at a CAGR of 11.08% during the forecast period of 2018 to 2024. Rice protein is considered as one of the important types of plant protein and is considered to be an effective alternative to other animal and plant proteins due to the presence of a high amount of amino acid content. Growing food & beverage and dietary supplement industry is considered as the key driver for the growth of the market during the forecast period. Moreover, increasing demand for vegan foods and growing consumer focus towards natural and organic food ingredients is also expected to drive the growth of the market during the forecast period. North America region holds the significant market share due to the presence of major producers in the region and Asia Pacific region is expected to be the fastest-growing region due to growing demand from developing and emerging economies. However, volatility in the prices of agriculture commodities may hinder the growth of the market during the forecast period.
Growing Food and Beverage Industry
Rising demand for vegan and organic foods
Availability of substitutes
The major players profiled in the Rice Protein market include Synaptics Incorporated, Fingerprint Cards AB, Shenzhen Goodix Technology Co., Ltd., Egis Technology Inc., among others.
The rice protein market has been analyzed through the following segments:
Food and Beverages
Middle East and Africa