In its latest report titled ‘Rice Protein Market: Global Industry Analysis 2013–2017 and Forecast 2018–2027’, PMR provides some vital insights on the global rice protein market in terms of volume and value. As stated in the report, the global rice protein market is expected to be valued US$ 287.2 Mn by the end of 2027, and grow at a healthy CAGR of 6.3% in terms of value over the forecast period. In the report, PMR gives some important insights on the global rice protein market with various forecasting factors
Plant-based proteins are consumed in the food and beverage industry in order to boost the nutritional quality of food ingredients at a lower price. Recently, rice sourced protein has been looked at as an inexpensive source of high-quality proteins. Rice protein has high nutritive value with a unique amino acid profile, and is known for its hypoallergenic properties. Rising incidences of protein allergies due to the consumption of popular plant as well as animal proteins have paved the way for rice protein as an affordable alternative.
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Rice Protein Concentrates Hold over 52% Value Market Share, Poised for Healthy CAGR through 2027
By form, the global rice protein market can be segmented as isolates, concentrates, and others. The rice protein concentrates segment is expected to hold a prominent market share, both, in terms of volume as well as value across the forecast period. This can be attributed to lower prices as well as the easy availability of rice protein concentrates. The rice protein isolates segment is expected to exhibit a healthy CAGR of 6.9%, owing to the increasing utilization and demand for concentrated rice protein from developed countries that have an increasing spending capacity on health products.
High Demand for Functional Foods and Energy & Sports Supplements to Fuel Demand for Rice Protein
The global rice protein market is fragmented and has been witnessing high competition recently. Rice protein is readily available as well as an inexpensive protein source that is utilized in various segments in the food and beverage industry. The energy & sports supplements segment is expected to hold a prominent market share in terms of value as well as volume in global rice protein market. The increasing utilization of plant-based protein in dietary as well as sports supplements is the prime factor driving the global rice protein market. Rice protein is a preferred ingredient in various infant formulations due to its nutritive value regarding hypoallergenicity. Rice protein is expected to experience increased usage as far as edible films, meat extenders, and flavor enhancers.
Conventional Rice Protein Retains Higher Traction, Organic Variant to Soon Speed up
The conventional segment, by nature, is expected to hold most of the market value share, which can be attributed to cost effectiveness of rice protein product as well as the easy availability of conventional rice protein. However, the organic segment is expected to exhibit growth at a higher CAGR, owing to the increased demand for clean products, especially from developed countries. The rapid ‘organic’ shift is expected to further to boost demand for organic rice protein.
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Europe to Account for over a Third of Total Value in Global Rice Protein Market
The global rice protein market can be regionally segmented as Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa. In the global rice protein market, the market in Europe is expected to hold a value market share of more than 1/3rd of the total market revenue by the end of 2027. This growth can be attributed to the growing demand for nutrition and sports supplements from various EU countries. In the global rice protein market, the market in APAC is expected to grow at a higher CAGR during the forecast period, owing to the rising demand for functional food products from major countries in the region. The growing awareness about the inclusion of protein ingredients in one’s diet is another factor that is expected to boost the growth of the market in APAC.
Rice Protein Market: Key Players
The report provides strategic highlights on competition landscape of key industry players in rice protein market space, which puts light on their key strategies, global presence, and key offerings. Some of the key market players in the global rice protein market are :
- Axiom Foods, Inc.
- NOW Health Group Inc.
- Kerry Group PLC
- RiceBran Technologies
- AIDP Inc.
- Sports Supplements Ltd
- The Green Labs LLC
- Habib-ADM Ltd.
- Südzucker AG (BENEO GmbH)
- Nestlé S.A.