Protein deficiency continues to prevail as a major issue, in both developing and developed countries. High price point and fluctuating supply scenario associated with the animal proteins have led to rise in the demand for economical sources of protein, compelling consumers to develop interest in plant-sourced protein, as they are readily available at a relatively lower price.
Rice is the staple food of a majority of the global population and caters to their carbohydrate and protein needs.
In recent years, rice has reemerged as an important source of high-quality protein. Rice protein helps address the dietary needs of humans with its 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 increasingly being used in various foods and beverages, energy and sports supplements, infant food formulations, and animal and pet foods.
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- 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.
Rice Protein Market: Insights and Outlook
By the source of rice protein, rice bran is likely to hold a high market share, dominating over the rice endosperm segment, owing to high protein content as well as lower prices. Rice bran is a by-product of rice processing, and hence, is easily available in most parts of the world.
Rice bran holds a high concentration of protein as compared to rice endosperm. However, due to lower processing for the application of rice protein in the food industry, rice protein from endosperms is preferred in a few applications.
The growing demand for plant-based protein in sports and energy supplements is one of the main factors driving the growth of the global rice protein market. Rice protein is hypoallergenic, and thus, is less likely to cause any allergies, especially in babies and infants. Thus, there is huge demand for rice protein from the infant food industry. The infant food segment in the global rice protein market is expected to grow at a healthy CAGR of 7.6% over the forecast period.
The conventional rice protein is expected to exhibit a large market share owing to the less expensive price point as well as ready availability. The organic rice protein segment is however more likely to witness strongly growing demand in the near future – especially owing to increasing consumer inclination towards healthful food consumption, backed by improving spending capacity.
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Protein Blends Attracting a Widening Consumer Base
Blending is considered beneficial, both functionally and economically. Rice protein, on its own, cannot meet the human need for amino acids. As such, rice protein is often blended with various plant based and dairy proteins sources. 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 of the global rice protein market.
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Lifestyle-related Diseases – Creating a Catalytic Effect on Market Growth
Lifestyle-related diseases such as obesity, diabetes, and various heart-related diseases are on the rise. Unhealthy lifestyles led by consumers cause all these conditions, and but considered curable or preventable with certain lifestyle changes as well as better diets.
Many such health conditions occur due to the over-consumption of high fat as well as low nutrition food products. Increasing awareness regarding these factors is 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.
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High Demand for Vegan and Vegetarian Products Driving Growth of Plant Protein Market
Along with cumulating consumer sentiments, health consciousness is also oriented towards consuming food that is guilt-free in order to protect the 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.
Global Rice Protein Market: Regional Outlook
The global rice protein market has been segmented on the basis of regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The market in North America currently holds a prominent share in the global rice protein market. However, a region will grow at slower pace as compared to others, being a mature market.
The rice protein market in the APAC region is expected to exhibit high growth, owing to the growing functional and fortified food market. The use of plant protein in edible films, flavor enhancers, as well as meat analogs is one more factor boosting the growth of the rice protein market. The rice protein market in Latin America is expected to grow at a decent CAGR, owing to the growing demand for fortified foods and beverages.
Rice Protein Market: Segmentation
The subsequent sections analyze the global rice protein market on the basis of source, form, nature, end use, and region, and presents a forecast for the period 2018–2027. The market is segmented as follows:
|by End Use||