The global rice protein market is projected to grow at a CAGR of 10.22% during the forecast period.
The rice protein industry acts as a platform for waste utilization – rice bran from the polishing process is gradually diverted for the production of value-added products and protein is one of them. Rice protein isolates and concentrates are now increasingly produced from rice bran. Functional foods, in particular dietary supplements, are emerging as one of the leading application areas of the rice protein market, as manufacturers are embracing the blending approach for plant protein-based products. Rice protein is one of the most 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. The growing food & beverage and dietary supplement industry are 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.
Furthermore, changing consumer preference for a nutritious diet will enhance the overall demand in the global market. Rising consumer focus on nutritional values such as low calories and high proteins will drive the growth of vegan food products such as rice proteins, pea proteins, and soy proteins among others. Veganism is an increasingly popular lifestyle for those who care about and want to improve their health. The nutritional benefits of rice proteins and their safety compared with conventional meat are also some of the important factors that have been contributing to the rising attention of consumers.
The advent of COVID-19 had an adverse impact on the global Rice protein market. The immense downturn in the global food and beverage industry has been a significant reason for the decline in the demand for Rice protein at a global level. The market witnessed a slight decline during the initial period of the year 2020 owing to the lockdowns that were imposed in several countries across the world which led to the availability of only the necessities to the consumers during the period. Moreover, severe disruptions in the supply chain made it even more complex to deliver the product to the end consumers. The market witnessed slow recovery signs during the second half of the year wherein the demand for healthier food alternatives went up in order to increase the immunity to fight the disease. Therefore, the market for rice protein is anticipated to witness substantial growth in order to cope up with the losses incurred during the pandemic and owing to the rising demand from the end consumers for healthier food alternatives.
The segmentation of the global Rice protein market has been done into type, application, and geography. By type, the classification of the market has been done into Isolates, Concentrates. By application, the classification of the market has been done into Food And Beverages, Dietary Supplements, Animal Feed. Furthermore, on the basis of geography, the global market has been distributed as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The substantial rise in the demand from the food & beverage industry is expected to drive the market during the forecast period
Major demand for rice protein has been seen in the food and beverage industry. Rice proteins are receiving increasing attention from the food and beverage industry owing to their nutritional and health benefits. Rice protein is hypoallergenic due to the absence of gluten and the amino acid profile of rice protein is exceptional and hence, it is the selected candidate for the replacement of whey and dairy proteins. The rice protein ingredients are being used in many product categories such as bars, powdered shakes, soups, pasta, ready-to-drink beverages, cereals, and sweet and savory snacks. Significantly high protein content in the rice proteins has resulted in the increased demand of the product in the baking goods and baking mixes segment and offering protein-rich bakery products, such as bread, rolls, muffins, and bagels. Rice protein has increasingly gained popularity owing to its high nutritional value. Cereals are one such category in which rice proteins are significantly being used. As a result, key players have launched a range of beverage products that are based on rice proteins, since it is vegan, digestible, is absorbed rapidly, and has no known allergy concerns. AIDP, Axion Foods, BENEO, Kerry, and others are the key providers of rice protein ingredients for various food applications that include baked goods, batters, and meal replacement mixes among others. In March 2019, Healy Group launched a range of micronized rice proteins that are suitable for high-protein beverages and snacks.
Rising demand from Europe and Asia Pacific region owing to a substantial shift towards a vegan diet is expected to be a tailwind to the market
Europe also holds a substantial market share owing to the rising number of people switching to a vegan diet supported by the growing awareness about the health issues associated with meat consumption. Growing cases of lactose intolerance and allergies related to soy and wheat are expected to drive the market for rice protein in the region during the forecast period. The gradual shift from animal-based protein to a plant-based protein-coupled with growing cases of lactose intolerance and milk allergies are expected to drive the rice protein market in the region during the forecast period. The Asia Pacific rice protein market has been segmented into China, Japan, India, South Korea, and others. China is estimated to hold a substantial share in the market owing to the high demand for rice protein for animal feed. Furthermore, Japan and South Korea are also anticipated to witness good growth in the coming years owing to increasing investments and product launches by international players within these countries.
The players in the global Rice Protein market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the market.
|Growth Rate||CAGR of 10.22% during the forecast period|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Axiom Foods Inc, RiceBran Technologies, Bioway (Xi'an) Organic Ingredients Co., Ltd, Top Health Ingredients Inc., Pure Food Company LLC, North Coast Naturals, Nutribiotic, Z-Company, Shaanxi Fuheng (FH) Biotechnology Co., Ltd, Golden Grain Group Ltd.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the rice protein market?
A1. The rice protein market is projected to grow at a CAGR of 10.22% during the forecast period.
Q2. What factors are anticipated to drive the rice protein market growth?
A2. The growing food & beverage and dietary supplement industry are considered as the key driver for the growth of the rice protein market during the forecast period.
Q3. How is the global rice protein market segmented?
A3. The global rice protein market has been segmented by type, application, and geography.
Q4. Which region holds the largest market share in the rice protein market?
A4. Europe holds a substantial share in the rice protein market owing to the rising number of people switching to a vegan diet supported by the growing awareness about the health issues associated with meat consumption.
Q5. Who are the major players in the rice protein market report?
A5. Key players profiled in the rice protein market report are Axiom Foods Inc, RiceBran Technologies, Bioway (Xi'an) Organic Ingredients Co., Ltd, Top Health Ingredients Inc., Pure Food Company LLC, among others.