South America Rice Protein Market Size, Share, Opportunities, COVID-19 Impact, And Trends, By Source (Organic, Inorganic), By Product-Type (Protein Isolates, Protein Concentrates), By Application (Animal Feed, Cosmetics, Food & Beverage, Pharmaceutical, Others) And By Distribution Channel (Online, Offline), And By Country - Forecasts From 2022 To 2027

  • Published : Sep 2022
  • Report Code : KSI061613212
  • Pages : 120

The South American rice protein market is projected to grow at a CAGR of 6.85% during the forecast period, to reach a market size of US$7.015 million in 2027, from US$4.411 million in 2020.

According to a report by the United Nations, adult obesity rates in the Latin American and Caribbean regions tripled in 2016 since 1975. Every year, around 600,000 people die due to diet-related diseases like diabetes, and cardiovascular diseases. The report also suggested developing flavoured foods to promote healthier food consumption. Additionally, a high proportion of people residing in both urban and rural areas suffer from parasitic infection, protein-calorie malnourishment, and vitamin and mineral deficiency. Obesity, hypertension, and obesity are also becoming increasingly common in this region.

Countries like Brazil and Argentina are witnessing a change in the consumption patterns of people in this region towards healthier diets. The number of fitness centres in Brazil has increased over the years, followed by the adoption of protein powders to supplement muscle growth and development. In Argentina too, the adoption of vegan diets is becoming the new normal for people concerned with climate, health, and animal protection. All such factors are expected to fuel the demand for rice protein in the forecast period as rice protein has some additional advantages over its other plant-based proteins such as whey or soy protein in terms of taste, digestibility, and nutritional profile.

The high prevalence of chronic diseases in the South American region is expected to boost the demand for the Rice Protein market.

Due to the high consumption of red or processed meats, the risk of acquiring certain diseases like diabetes or coronary heart disease, among others, also increases. Besides, increasing global pandemics like Ebola, SARS, MERS, and other viruses are also raising awareness among people to adopt healthier diets. As a result, the dependence on plant-based products is expected to witness a surge in the South American region.

Geographically, Brazil is anticipated to hold a large share of Rice Protein Market in South America, while Argentina is expected to grow at a high CAGR throughout the forecast period.

Brazil is a major producer and exporter of rice grain. It gets support from the government and institutions for various developments in this market. Rice protein market players can benefit from this major raw material providing countries to supplement their market. Also, a “self-care” trend is being followed by people in Brazil as a by-product of maintaining health, and people are resorting to organic food items. Younger populations are joining fitness centres like the gym, and this is expected to raise the demand for protein supplements in Brazil.

In Argentina, due to several crises in the past, the people in this country have become more reticent in their buying decisions. People are attracted to cheaper products and don’t maintain brand loyalty. Due to cost and health issues, people in Argentina are shifting towards plant-based food items. Also, the younger and wealthier populations, with the economy recovering gradually, are becoming brand and quality conscious. Rice protein, being a relatively safer option than other protein powders, is expected to witness rising demand in this country throughout the forecast period. 

Recent development and expansions

  • Brenntag Food & Nutrition in Latin America announced a new distribution agreement with Axiom Foods for its plant-based protein line in Argentina, Bolivia, Chile, and Peru in March 2021. With this agreement, the two companies committed to providing allergen-free vegetable proteins and dairy alternatives to the food industry in order to produce food, beverages, and nutraceuticals ranging from cereal bars to pasta, ready-to-drink products (RTD), and non-dairy yoghurts. Rice, peas, oats, and sacha inchi were some of the ingredients used to make Axiom products.
  • In September 2021, Tomorrow Foods, an Argentine plant-based startup, raised $3 million in a new funding round led by Grid Exponential, a Buenos Aires-based regional tech investor (GRIDX).As the region's plant-based industry gains traction, the company intends to use the new funding to expand across Latin America.
  • Axiom entered the Brazilian plant-based protein market in November 2019 by partnering with Univar Solution Brazil for distribution. Axiom created innovative products that attracted consumers to choose functional plant protein alternatives to meat.

COVID-19 impact on the South America Rice Protein Market

The COVID-19 pandemic has had a significant impact on the rice protein market in South America. The persistence of COVID-19 for an extended period of time disrupted the supply chain. It became difficult to supply raw materials for rice protein to manufacturers in South America, causing the manufacturing process to halt. End-users of rice protein such as sports & energy nutrition, bakery & confectionery, beverages, and dairy alternative industry experienced a decline in the market during the COVID-19 pandemic due to movement in restriction, de-globalization, loss of income, restriction on import and export of products, restriction on raw material supply, and other factors. All of these factors have had a negative impact on the market supply chain. Although because of its functional properties and the growing demand for alternatives to animal protein and other plant proteins such as soy and whey, the demand for rice protein has increased dramatically following COVID-19. Furthermore, consumers gravitated toward protein-rich foods and healthy eating options. Growing demand for rice protein, combined with changing lifestyles and healthy eating habits, eventually drove up demand for rice protein.

South America Rice Protein Market Scope:

Report Metric Details
 Market Size Value in 2020  US$4.411 million
 Market Size Value in 2027  US$7.015 million
 Growth Rate  CAGR of 6.85% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments Covered  Source, Product Type, Application, Distribution Channel, And Country
 Regions Covered  Brazil, Argentina, Others
 Companies Covered Axiom Foods, Inc., BENEO-Palatinit GmbH, Bioway (XI’AN) Organic Ingredients, Golden Grain Group, Shafi Gluco Chem Pvt. Limited
 Customization Scope  Free report customization with purchase


Market Segmentation:

  • By Source
    • Organic
    • Inorganic
  • By Product Type
    • Isolates
    • Concentrates
  • By Application
    • Animal Feed
    • Cosmetics
    • Food & Beverages
    • Pharmaceutical
    • Others
  • By Distribution Channel
    • Online
    • Offline
  • By Country
    • Brazil
    • Argentina
    • Others

1. Introduction
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. Research Methodology  
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis

5. South American Rice Protein Market, By Source
5.1. Introduction
5.2. Organic
5.3. Inorganic

6. South American Rice Protein Market, By Product Type
6.1. Introduction
6.2. Isolates
6.3. Concentrates

7. South American Rice Protein Market, By Application
7.1. Introduction
7.2. Animal Feed
7.3. Cosmetics
7.4. Food & Beverages
7.5. Pharmaceutical
7.6. Others

8. South American Rice Protein Market, By Distribution Channel
8.1. Introduction
8.2. Online
8.3. Offline

9. South American Rice Protein Market By Country
9.1. Introduction
9.2. Brazil
9.3. Argentina
9.4. Others

10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix

11. Company Profiles 
11.1. Axiom Foods, Inc.
11.2. BENEO-Palatinit GmbH
11.3. Bioway (XI’AN) Organic Ingredients 
11.4. Golden Grain Group
11.5. Shafi Gluco Chem Pvt. Limited

Axiom Foods, Inc.

BENEO-Palatinit GmbH

Bioway (XI’AN) Organic Ingredients

Golden Grain Group

Shafi Gluco Chem Pvt. Limited