Global Rice Protein Market: Size, Trends, Share and Growth Forecast till 2026
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A recent research analysis of Fact.MR envisages the global rice protein market to record a spectacular 8.6% value CAGR during the forecast period 2017 to 2026. More than 68,000 tons of rice protein are gauged to be sold worldwide by 2026-end.
Rice Protein Concentrates will Register Fastest Sales Expansion through 2026
Based on product type, sales of rice protein concentrates are estimated to register the fastest expansion through 2026, in terms of value. Rice protein concentrates facilitate cost-effective replacement of counterparts, while retaining the taste and color of targeted products, thereby gaining popularity. Consumers now prefer rice protein, as it is more nutritious and healthier compared to other plant-derived protein such as whey.
Sports & energy nutrition is expected to be the leading application of rice protein, in terms of value. Revenues from this application segment will account for approximately one-third market share by 2026-end. Beverages will also remain a major revenue contributing application segment in the market
Sports & Energy Nutrition to Endure as Fast-Expanding Application of Rice Protein
Relatively lower cost and rich nutrition content in rice protein has led to its robust adoption in sports & energy nutrition application. In addition, consumers across the globe are preferring beverages that are healthier, which in turn has led to incorporation of various supplements such as rice protein. Sports & energy nutrition, and beverages are projected to endure as fast-expanding applications of rice protein.
Dry form of rice protein is anticipated to exhibit the fastest sales growth through 2026. Revenues from dry form of rice protein are expected to remain significantly larger than those from liquid form of rice protein. Emulsifying function of rice protein will remain sought-after in the market, succeeded by foaming.
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Dry Form of Rice Protein to Remain Preferred among Consumers
Dry form of rice protein will continue to be preferred among consumers, with sales poised to account for over US$ 130 Mn revenues by 2026-end. Revenues from sales of liquid form of rice protein will remain nearly half of revenues procured from sales of dry form of rice protein. On the basis of function, emulsifying will remain dominant in the market in terms of value, followed by foaming.
In Asia-Pacific excluding Japan (APEJ), growing demand for nutritional products based on protein in light of soaring consumer awareness on healthy lifestyles has been fuelling adoption of rice protein. APEJ will remain the fast-growing market for rice protein, in terms of value. However, revenues from rice protein sales in North America and Europe will remain comparatively larger than those from APEJ through the forecast period.
North America to Remain Most Remunerative Market for Rice Protein
North America is home to a large number of well-established producers of rice protein, which has led the region to account for majority share of the market. Technological advancements in production of rice protein coupled with its robust adoption in the food & beverage industry will further fuel the market growth of rice protein in North America. In terms of value, North America will prevail as the most remunerative market for rice protein.
Characterized by the separation of protein from food, isolates of rice protein contain minimum amount of fat, fiber, and carbohydrate, leaving them with 90-95% of protein by weight. High protein content of isolates has been driving its popularity, thereby driving its demand across various applications. In terms of value, isolates will continue to be the dominating product segment in the global rice protein market.
The global market for rice protein is highly concentrated and competitive, with few companies accounting for major shares of the market. As manufacturers of rice protein are currently low on revenues and capital, they are adopting inorganic development strategies that include partnerships and agreements with distributors and suppliers. Some manufacturers are also making investments in research and development activities for improving their already existing product variants as well as introducing new products, in order to acquire a competitive edge.
The report profiles key companies underpinning growth of the global rice protein market, which include Axiom Foods Inc., AIDP Inc., Bioway (Xi’an) Organic Ingredients Co., Ltd., Golden Grain Group Ltd., RiceBran Technologies, Nutrition Resource Inc., Shaanxi Fuheng (FH) Biotechnology Co., Ltd., Shafi Gluco Chem Pvt. Ltd., The Green Labs LLC, Top Health Ingredients Inc., Nutribiotic, Z-Company, North Coast Naturals, and Pure Food Company LLC.
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