The international market for rice protein generated US$ 108 million in 2018, and it’s expected to grow by nearly 7% y-o-y in 2019, in keeping with a current analysis published by Fact. MR. The take a look at opines that the increase of the rice protein market is indicative of a growing customer demographic seeking out a meat-unfastened and energetic lifestyle. Fact.MR attributes the latest upsurge in demand for rice protein to a palpable shift in consumer desire for non-allergenic and vegetable-derived substitutes for classic animal-primarily based proteins.
The examine finds that the demand for rice protein is likewise being buoyed by the growing veganism trend. A substantial section of customers is developing a proclivity for plant-based and natural meal products, prompting producers to make a move to offer plant-primarily based ingredients. In addition, increasing fitness concerns with the high occurrence of lifestyle sicknesses, such as obesity, will enhance the adoption of rice protein in the meals & beverage enterprise, opines Fact. MR.
In Brief
During 2013-2017, the rice protein marketplace grew at a healthy CAGR of 6.0%, thanks to elevated customer focus and inclination towards plant-based total protein merchandise. In 2018, the valuation of the rice protein market became nearly US$ 108 million, and it’s far probably to witness a yo-yo growth of almost 7% in 2019. The rapidly increasing number of clients adopting a vegan lifestyle is anticipated to generate a considerably high demand for plant proteins. As a result, the worldwide marketplace for rice protein is expected to envisage an incremental increase at a CAGR of nearly 8% during 2018-2028. Europe is currently the leading marketplace for rice protein, accounting for over one-0.33 sales proportion. South Asia is predicted to grow to be an extremely high-growth market for stakeholders, with India leading the rally.
Rice Protein Market – Notable Developments
In March 2019, Axiom Foods Inc. – an American manufacturer of useful food components – introduced it has entered a settlement to enlist Univar Solutions – a U.S.-based totally distributor and companies of elements and price-added offerings – as its respectable distributor inside the U.S. Univar Solutions will distribute Axiom’s plant-based totally merchandise, together with rice protein, pea protein, rice, and oat dairy options, and rice sugar, in the U.S. With this agreement, Axiom Foods goals to leverage Univar Solutions’ massive distribution community in the U.S. In addition, to bolster its role so that it can grow to be more helpful throughout its supply chain community within the US.
In November 2018, RiceBran Technologies – a U.S.-based producer and marketer of rice bran merchandise and a leading player inside the rice protein marketplace – announced it had received the property and operations of rice bran stabilization and rice milling facility of Golden Ridge Rice Mills – a main producer of top rate grade white rice – in Wynne, Arizona. The acquisition is a part of the business enterprise’s new stabilized rice bran (SRB) commercial enterprise strategies to establish a robust presence in Arkansas, a main rice-producing state in the U.S., enhancing supply chain management and gross profit margins SRB enterprise.
In April 2019, Healy Group Limited – a European dealer of amazing ingredients and raw substances for the soups and sauces area – announced the launch of PrimaPro™, its new product variety of ultra-great, powdered pea and rice proteins. The organization pursuits to goal the bakery, snacks, and beverage sectors to reinforce the profitable income of its new product variety of pea and rice proteins.
Established in 1972, Kerry Group was founded in Tralee, Ireland. Kerry Group is the main participant in the F&B industry that offers a huge range of nutritional products. The three enterprise segments of the company – flavor and nutrition, customer meals, and agribusiness- are running with the main cognizance on studies & improvement to introduce product innovation within the rice protein marketplace. In addition, the enterprise aims to extend its presence within the rice protein market by adopting acquisition and merger techniques in the coming years.
Consumers are becoming aware of the nutritional benefits of brown rice over milled rice. The former is richer in protein, dietary fibers, lipids, and B nutrients than the latter, offering brown rice protein healthier traits over milled rice protein. Another element to reinforce its recognition is the growing customer expertise approximately the benefits of brown rice in lowering the risk of Type 2 diabetes, so one can retain to steer micro-tendencies within the rice protein marketplace. Market gamers are predicted to capitalize on growing client demand for plant-based, non-GMO, and clean-label components to launch natural brown rice proteins.
Analysts have considered the most crucial components of the study’s methodology to evaluate the increase of the rice protein market throughout the forecast period 2018-2028. Actionable insights acquired from industry experts in the rice protein marketplace have been extrapolated, and industry-proven information about the competitive panorama of the marketplace has enabled analysts to come up with this insightful examination on the rice protein market.
A comprehensive listing of assets for primary research and secondary studies to attain critical insights into the rice protein marketplace boom prospects is furnished within the observe. The systematic approach in rice protein marketplace studies was adopted with the aid of analysts to gather vital records about the marketplace and the increased avenues for producers, buyers, vendors, and other stakeholders in the rice protein marketplace.
