Soaring Demand Drives Rice Protein Market Growth during the Forecast Period, 2018-2026 | Market Key Players are Axiom Foods Inc., AIDP Inc., Bioway (Xi'an) Organic Ingredients Co. Ltd., Golden Grain Group Ltd., etc.
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Derived from both white rice as well as brown rice, rice protein is considered as an imperative plant protein, with utilization of rice protein in the pharmaceutical sector being one of the recent emerging trends. Characterized by high presence of amino acid, rice protein has been deemed ideal for use in pharmaceutical and medical products. Rice protein represents robust application outlook in the cosmetic, and food industries. Increasing consumer awareness with regard to consumption of nutrition-rich food ingredients has been influencing demand for rice protein since the recent past. FDA has implemented several favorable regulations pertaining to a wide range of rice protein applications, which in turn has led toward its high acceptance among consumers.
Food manufacturers are focusing on complying with standards, with an aim to produce gluten-free and anti-allergic products, with growing emphasis of consumers on following a healthier lifestyle. Inclining preference toward organic rice protein is one of the major trends gaining traction worldwide. Demand for organic rice protein has witnessed a tremendous surge in the sports and athletics sector. There has been a rise in the awareness about dietary source and food products, which avoid utilization of preservatives, thereby augmenting demand for organic rice protein. Organic rice protein has emerged as a potential alternative to soy protein that have been considered to cause various types of allergies.
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.
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.
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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.
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.
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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