Rice protein Market is expected to grow at a CAGR 11.08%
Knowledge Sourcing Intelligence announces the publication of a new report on “Rice Protein Market – Forecasts from 2020 to 2025” to their offering.
The Rice Protein Market is primarily driven growing vegan population in different parts of the world.
According to the report, the rice protein market is expected to grow at a CAGR of 11.08% during the forecast period.
The factors that are governing the trajectory of rice protein market and consequently contributing to its estimated growth
A plant-based lifestyle is becoming increasingly popular in many parts of the world and people are shifting from animal protein diet to plant-based diet. Growing health awareness drives the plant-based diet especially in the developed economies and increasing investment in the plant-based food business is expected to drive the market for rice protein during the forecast period. Rising awareness of the negative health effects of animal consumption and growing sensitivity among consumers are contributing to the growth of the rice protein market. Besides, increasing product launches offering a wider variety of solutions to consumers and rising trends towards sustainability is anticipated to boost the market for rice protein businesses. Also, today many regions are also witnessing allergies among local population due to soy protein which constitutes a significant share in plant-based protein industry which increases the adoption of another form of plant-based protein including rice protein.
Recently, Ottawa Canada has invested $150 million in Canada’s plant protein industry through its $950 Supercluster initiative, recommending people to eat more plant-based proteins. In addition, companies like Carrefour which is one of the leading supermarkets in France open new stores in Paris with 1/3 of the shop dedicated to vegan and organic food, such efforts by market players is anticipated to boost the demand for plant-based proteins which will further augment the market growth opportunities for rice protein manufacturers and vendors in the coming years.
Furthermore, there has been an increasing potential for health benefits related to rice-based protein consumption and consumers in European region are also becoming increasingly aware of this exigency and are increasingly adding plant-based protein to their daily diet. In fact, governments are also encouraging the people towards the adoption of vegan lifestyle and with the strategic partnerships and investments by major players the rice protein market is anticipated to witness exponential growth. For instance, in January 2020, the Roquette Frères reinforced its partnership with the Beyond Meat the provider of meat substitute, the deal is expected to help Beyond Meat to scale up its plant protein supply chain as the global demand for its range of vegan products including rice protein.
By application, food and beverages segment holds a dominant share in the rice protein market
By application, the rice protein market has been segmented based on food and beverages, dietary supplements, and animal feed. In the recent years rice protein has gained popularity within the plant-based proteins segment due to its growing awareness among the consumers in developed countries of Europe and North America. The rising trend of protein-based sports nutrition products such as nutrition bars and powders coupled with the increasing number of product launches is further augmenting the growth of rice protein market in the dietary supplements segment over the forecast period. For instance, in April 2019, Healy Group announced the launch of PrimaPro™ a new product range of ultrafine rice protein. Besides, recently Huel also releases four ranges of high protein snacks bar even using rice protein.
The major players covered as part of the report are, RiceBran Technologies, Axiom Foods Inc, Top Health Ingredients Inc., Bioway (Xi'an) Organic Ingredients Co. Ltd, Pure Food Company LLC, Naturals, Nutribiotic, North Coast, and Z-Company among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/rice-protein-market
This report segmented the Rice Protein Market on the basis following terms:
- Food and Beverages
- Dietary Supplements
- Animal Feed
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
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