The Spain rice protein market is projected to grow at a CAGR of 7.49% during the forecast period, to reach a market size of US$4.617 million in 2027, from US$2.786 million in 2020.
Spain in general has obtained its source of nutrition through various means of traditional cookery. Rapid industrialization, urbanization, and the ability to live in borderless states have resulted in a disconnect from traditional cooking. Thus, in the process, the urban citizens of the country have severed themselves from the source of naturally available sources of protein.
Consumers of developed economies find it increasingly difficult to fathom the quantum of nutrients that they receive from their daily food purchases, despite the food labelling adhered to by most food processors and manufacturers.
The convenient means of supplementing one’s diet with highly processed food has eventually led to high-calorie intake and resulted in several non-communicable diseases that are prevalent in affluent nations. Moreover, the improper balance of protein, fat, and carbohydrates has been increasingly linked with the development of chronic and systemic ailments. Easy access to food from supermarkets has distorted the very idea of what farm-to-fork once meant. Thus, consumers are becoming increasingly aware of this exigency and are increasingly adding plant-based protein to their daily diet. According to the Ministry of Agriculture, Fisheries and Food, of the Government of Spain, the motives of consumers who are adhering to the vegan diet and are witnessing a change in attitudes towards animal agriculture are majorly due to concern towards animal welfare and environmental welfare. Anticipating higher revenue generation opportunities, Pevesa Biotech has developed a new rice protein concentrate called OryzaPro V80 that consists of 80% protein for extrusion applications. It is compatible with almost any soil matrix. It is also GMO-free, non-allergic, and vegan.
Products that are rich in rice-based protein are, for example, protein concentrates, protein isolates, milk, and so on. This is a recent phenomenon. Thus, Spain, with a keen interest in plant-based protein alternatives, is poised to witness steady growth in the rice protein market. This is particularly due to the growing awareness of various health issues that urbanites have succumbed to in today’s growing urban agglomeration. Furthermore, there is a global awareness of the environmental ramifications of the activities pertaining to animal husbandry. This is inclusive of but not limited to the growing greenhouse gas (GHG) emissions that are eventually leading to global warming and climate change. Further, rice is hypoallergenic and is the first cereal that is fed to infants as an introduction to solid food in their lives. In view of the above, rice protein products as an integral part of formulating infant food are also set to drive the growth of the Spanish rice market significantly during the forecast period.
Additionally, with the rise in vegan dietary trends, substituting meat as a source of protein with rice protein is expected to further drive the Spanish market for rice-based protein. Moreover, there has been an increasing potential for health benefits related to rice-based protein consumption. In terms of plant-based consumption in general, Spain has reached a distinct maturity. Horchata de chufa, a beverage, consumes the majority of the whole plant-based milk. Additionally, Mercadona, the number one supermarket in Spain, has been proactively offering milk alternatives for quite some time now. The health benefits related to rice protein consumption and the awareness of health-conscious consumers are expected to drive the growth of the market for rice protein in Spain as well.
Recent development and expansions
The COVID-19 pandemic has had a significant impact on the rice protein market in Spain. The persistence of COVID-19 for an extended period of time disrupted the supply chain. The manufacturers were unable to obtain raw materials for rice protein, causing the manufacturing process to halt. End-users of rice protein, such as the sports & energy nutrition, bakery & confectionery, beverages, and dairy alternative industries, expect a decline in the market during the COVID-19 pandemic due to restrictions, de-globalization, loss of income, restrictions on product import and export, and restrictions on raw material supply, among other things. All of these factors have had a negative impact on the market supply chain.
|Market Size Value in 2020||US$2.786 million|
|Market Size Value in 2027||US$4.617 million|
|Growth Rate||CAGR of 7.49% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Source, Product Type, Application, And Distribution Channel|
|Companies Covered||BENEO-Palatinit GmbH, THE PROTEIN WORKS™, Weider Nutrition, S.L, PEVESA, Bioway (Xi'An) Organic Ingredients Co., Ltd|
|Customization Scope||Free report customization with purchase|
THE PROTEIN WORKS™
Bioway (Xi'An) Organic Ingredients Co.,Ltd
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