The international market for rice protein handed US$ 108 million in 2018, and it’s far anticipated to envisage nearly 7% y-o-y in 2019, in keeping with a current examine published via 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 life-style. 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 using the growing veganism fashion. A substantial section of customers is developing a proclivity for plant-based and natural meals products, and that is triggering factor producers to make a move to offer plant-primarily based ingredients. Increasing fitness concerns with high occurrence of life-style sicknesses, such as obesity, will maintain to enhance adoption of rice protein in the meals & beverage enterprise, opines Fact.MR.
In Brief
During 2013-2017, the rice protein marketplace grew at a healthful CAGR of 6.0% thanks to elevated patron 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 y-o-y growth of almost 7% in 2019.
The hastily increasing quantity of clients adopting vegan life-style is anticipated to generate considerably high demand for plant proteins and the worldwide marketplace for rice protein is expected to envisage 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 excessive-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. To bolster its role so that you can grow to be handier throughout its supply chain community inside the us of a.
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 has 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, which is a main rice-producing country inside the U.S., which will enhance the supply chain management and gross margins in its 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 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 is founded in Tralee, Ireland. Kerry Group is the main participant inside the F&B industry that gives 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. 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, which offers 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 threat 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 totally, non-GMO, and clean label components with the launch of natural brown rice proteins.
Analysts have taken into consideration the most crucial components of the studies methodology to evaluate the increase of the rice protein market throughout the forecast period 2018-2028. Actionable insights acquired from industry experts in 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 examine on rice protein market.
A comprehensive listing of assets for primary research and secondary studies used to attain critical insights at the boom prospects of rice protein marketplace is furnished inside the observe. The systematic approach in the direction of rice protein marketplace studies adopted with the aid of analysts to gather vital records about the marketplace in addition to the increase avenues for producers, buyers, vendors, and other stakeholders in rice protein marketplace.
