Rice Protein Market Segmented By Rice Bran, Rice Endosperm Source in Isolates, Concentrates From by Organic, Conventional Nature, Used in Convenience Food, Bakeries and Confectionary, Sports and Energy Supplements, Infant Food, Animal and Pet Food Beverages
Industry: Food and Beverages
Published Date: May-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP27655
The global sales of rice protein is predicted to grow from US$ 248.5 million in 2023 to US$ 452.3 million by end of 2033 through annual growth rate of 6.6% value CAGR over the forecast period. The rapidly growing food and beverage, infant and animal feed industry is likely to benefit the market in the impending years.
Rice is the staple food of a majority of the world’s population, and significantly satisfies their carbohydrate and protein needs. Rice is gradually gaining recognition as the important source of high-quality protein. Rice protein helps to address the dietary needs of humans with unique nutritive value. Rice protein is extracted from rice bran as well as rice endosperm, which are prime by-products of rice processing.
Rice protein is often blended with pea protein, as together, they can complete the essential amino acid profile required by humans. This growing preference for protein blends is expected to boost the growth by 6.6% value CAGR during 2023-2033.
| Attribute | Key Insights |
|---|---|
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Rice Protein Size (2023E) |
US$ 248.5 Million |
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Projected Sales of Rice Protein (2033F) |
US$ 452.3 Million |
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Value CAGR (2023-2033) |
6.6% |
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Value Share of Top 4 Countries (2023E) |
37.4% |
“Lifestyle-related Diseases – Creating a Catalytic Effect for Market Growth”
Lifestyle-related diseases such as obesity, diabetes, and various heart-related diseases are on the rise. Many dire health conditions occur due to the over-consumption of high fat as well as low nutrition food products. Unhealthy and sedentary lifestyles lived by the consumers negatively affects the health and has led consumers to choose health and safe ingredients in their daily diet. Increasing awareness regarding these factors are leading to the increased global demand for food products enriched with ingredients such as rice proteins that are also low in calories, trans-fats, and sugar. Therefore, growing health conscious consumers across the globe is likely to profit the market growth.
“Rising Protein Allergens among Consumer Benefiting the Market Growth”
A vital factor negatively impacting the growth of the protein ingredients market is food allergies. Peanuts, tree nuts, cow milk, soybean, and wheat are responsible for over 90% of food allergy incidents, globally. There has been an increase in the number of incidences of allergies caused due to protein formulations, especially in infants.
Rice protein has a unique amino acid profile, and is hypoallergenic. A majority of consumers allergic to these ingredients also tend to opt for rice protein-based formulations. There has been an increased use of rice protein in several infant formulations.
Apart from this, protein deficiency continues to persist as a major issue across the world, both, in developing and developed countries. High prices as well as erratic supply of animal proteins have led to a rise in the demand for economical sources of protein, thus surging the interest of people in plant protein, as these are readily available and comparatively come at a lower price.
“High Demand for Vegan and Vegetarian Products Driving the Growth of the Plant Protein Market”
Along with cumulating consumer sentiments, health-consciousness consumers are also strongly inclining towards plant-based diet due to growing concerns over animal cruelty, health, and a sustainable environment. Vegan food products such as rice protein have gained considerable traction in the market, and hence, consumers are opting for more plant-based products such as rice protein. Rice protein satiates multiple consumer demands, such as vegan, gluten-free, and high-protein food products. In recent times, rice protein has gained a considerable grip over the market, especially in the sports and energy nutrition segment.
“Low Awareness About Non-Soy Plant-based proteins”
Soy protein accounts for a predominant share of the overall market in terms of value and volume, due to very high usage and relatively high price. Despite registering high value and volume growth in markets in developed and developing countries, other plant proteins such as peas are relatively unknown in several parts of the world, and account for a moderate market share.
Lower awareness about the nutritive value and unique amino acid profile of rice protein is a factor restraining revenue and volume growth of the rice protein market in developed as well as developing countries, globally. Moreover, erratic supply and cost of source materials having a negative impact on market growth.
What is the sales of rice protein in the U.S. market?
“Growing Demand for Plant-based Products in the U.S. Benefiting the Market Growth”
The sales of rice protein in the U.S. is valued at US$ 68.5 million for 2023 and the market is predicted to grow at 4.7% value CAGR during 2023-2033 attributing to rising veganism and flexitarian in the country. The consumers are including vegan diet, which has uplifted the sales of plant-based protein in the U.S.
What is the demand outlook of rice protein in the Germany?
“Growing Consumption of Protein-based Snacks Augmenting Rice Protein Sales”
The demand for rice protein in Germany is expanding at 7.9% value CAGR and is among the lucrative market for rice protein, since consumers in Germany are demanding vegan snacks more than ever before. This consumer dynamic has led vegan producers to incorporate plant-based protein like rice protein for the formulation of innovative snacks.
What will be the sales of organic rice protein in the forthcoming years?
“Growing Acceptance of Organic Products among Consumers Augmenting Market Sales”
Organic production is gaining the spotlight among consumers as well as global food manufacturers due to healthy, tasty, safety, and environmentally traits associated with its consumption. As a result, PMR predicts that the sales of organic rice protein will grow at the highest rate of 7.9% value CAGR in the forthcoming years and will probably will incur the revenue of US$ 57.1 million by end of 2033.
Which end use is holding highest value share in the global rice protein market?
”Strong Demand for Sports and Energy Supplements Across Globe Driving the Market”
By end use segment, the rice protein market is segmented into convenience food, bakery & confectionery, sports and energy supplements, infant food, animal & pet food, beverages and others. The sports and energy supplements is dominating the global rice protein market with the value share of 36.6% for 2023, since rice protein contains high amino acid arginine than other type of proteins and enhances blood flow in the body.
Manufactures in the rice protein space are aiming to launch new products and optimize the product portfolio through state-of-the-art research solution. This strategy helps the producers to formulate products as per the market needs and deliver innovative solutions in the highly competitive landscape. Moreover, the players are strategizing on mergers and acquisition with small players to maintain a steady supply of products in the international market that will help to gain lucrative profit margins.
The producers engaged in the production of rice protein are also focusing on expanding their manufacturing capabilities and providing quality as well-certified products in the global market. In addition, the strong distribution network established by producers strengthens the supply chain costs and helps to maintain overall profitability.
| Attribute | Details |
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Forecast period |
2023-2033 |
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Historical data available for |
2018-2022 |
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Market analysis |
USD million for value |
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Key market segments covered |
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Key companies profiled |
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Customization & pricing |
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The global market for rice protein has a value of US$ 248.5 million 2023.
The global market for rice protein has a value CAGR of 4.7% from 2018-2022.
The global market for rice protein has a value of US$ 452.3 million in 2033.
The global market for rice protein has a value CAGR of 6.6% from 2023-2033.
Companies such as Axiom Foods, Inc., NOW Health Group Inc, NOW Health Group Inc, Kerry Group PLC, and others are some of the major players operating in the global rice protein market.
