Press release
Rice Protein Market Projected to Grow at $214.35 Mn by 2026 | A report by Axiom Foods Inc., Bioway (Xi’An) Organic Ingredients Co.Ltd, Golden Grain Group Limited, RiceBran Technologies, HealthWise, Shaanxi Fuheng (FH) Biotechnology Co. Ltd. And others
Market Analysis:
Global rice protein market is expected to rise from its initial estimated value of USD 112.01 million in 2018 to an estimated value of USD 214.35 million by 2026, registering a CAGR of 8.45% during the forecast period of 2019-2026. This rise in market value can be attributed to rising need of plant protein amid rising amount of health concerns and veganism worldwide.
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Key Competitors:
• Axiom Foods Inc.
• Bioway (Xi’An) Organic Ingredients Co.Ltd
• Golden Grain Group Limited
• RiceBran Technologies
• HealthWise
• Shaanxi Fuheng (FH) Biotechnology Co. Ltd.
• Shafi Gluco Chem
• The Green Labs LLC
• Top Health Ingredients Inc.
• NutriBiotic
• Z-Company
• North Coast Naturals
• Pure Food Company LLC
• Plandai Biotech
• Gulshan Polyols Ltd
• BENEO
• Kerry Inc.
• BHARAT GLUCOSE PVT. LTD.
• The Scoular Company
• Habib-ADM Ltd.
Key Developments in the Market:
• In March 2016, Plandai Biotech announced that an agreement has been established with AIDP Inc. for the distribution and sales of the product in United States, with the market expected to be established for both the companies.
• In February 2018, Axiom Foods Inc. announced that they had received a first method of use application patent for Oryzatein rice protein by the US Food and Drug Administration.
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Market Drivers & Restraints:
• Increase in demand for protein and protein products from the market is expected to drive the market growth
• Usage of rice protein as a substitute to animal proteins because of the increased preference and adoption is also expected to drive the market growth
• Increase in costing of raw materials required for the production is expected to restrain the market growth
• Quality analysis based on the sensory properties of plants determining the quality of the product is also expected to restrain the market growth
Segmentation:
By Product Type
• Rice Protein Isolates
• Rice Protein Concentrates
• Others
By Applications
• Food Ingredients
• Dietary Supplements
• Animal Feed
• Cosmetics
Geography
• North America
• South America
• Europe
• Asia-Pacific
• Middle East & Africa
Competitive Analysis:
Global rice protein market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of rice protein market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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