The international market for rice protein exceeded US$ 108 million in 2018, and it’s far anticipated to envisage almost 7% y-o-y in 2019, in step with a recent study published with the aid of Fact.MR. The study opines that the growth of the rice protein marketplace is indicative of a developing customer demographic seeking out a meat-free and lively life-style. Fact.MR attributes the current upsurge in demand for rice protein to a palpable shift in purchaser preference for non-allergenic and vegetable-derived substitutes for classic animal-based proteins.
The look at unearths that the demand for rice protein is also being buoyed by the developing veganism fashion. A widespread section of consumers are developing a proclivity for plant-based totally, and organic meals merchandise, and this is triggering factor producers to make a move to offer plant-based ingredients. Increasing fitness issues with a high prevalence of lifestyle illnesses, consisting of weight problems, will keep to boost adoption of rice protein inside the meals & beverage enterprise, opines Fact.MR.
During 2013-2017, the rice protein market grew at a healthful CAGR of 6.0% attributable to accelerated client focus and inclination towards plant-based protein products.
In 2018, the valuation of the rice protein marketplace turned into nearly US$ 108 million, and it’s far probably to witness a y-o-y boom of almost 7% in 2019.
The swiftly growing number of clients adopting a vegan way of life is expected to generate an extensively high call for plant proteins and the global market for rice protein is expected to envisage incremental boom at a CAGR of almost eight% during 2018-2028.
Europe is currently the leading marketplace for rice protein, accounting for over one-0.33 revenue percentage.
South Asia is expected to grow to be an excessive-increase marketplace for stakeholders, with India leading the rally.
Rice Protein Market – Notable Developments
In March 2019, Axiom Foods Inc. – an American manufacturer of functional meals ingredients – announced it had entered a settlement to enlist Univar Solutions – a U.S.-based distributor and carriers of substances and value-delivered offerings – as its official distributor in the U.S. Univar Solutions will distribute Axiom’s plant-primarily based products, such as 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’ significant distribution network in the U.S. To bolster its role in an effort to emerge as more accessible for the duration of its supply chain network inside the usa.
In November 2018, RiceBran Technologies – a U.S.-primarily based producer and marketer of rice bran merchandise and a leading player inside the rice protein marketplace – introduced it has obtained the assets and operations of rice bran stabilization and rice milling facility of Golden Ridge Rice Mills – a leading manufacturer of top-rate grade white rice – in Wynne, Arizona. The acquisition is part of the organization’s new stabilized rice bran (SRB) commercial enterprise techniques to establish a robust presence in Arkansas, that’s a main rice-generating nation inside the U.S. so that it will beautify the supply chain management and gross margins in its SRB commercial enterprise.
In April 2019, Healy Group Limited – a European dealer of first-rate substances and uncooked substances for the soups and sauces zone – announced the release of PrimaPro™, its new product variety extremely-great, powdered pea, and rice proteins. The agency targets to goal the bakery, snacks, and beverage sectors to reinforce the worthwhile income of its new product range of pea and rice proteins.
Established in 1972, Kerry Group is headquartered in Tralee, Ireland. Kerry Group is the main participant inside the F&B industry that gives a wide range of dietary products. The three enterprise segments of the agency – flavor and vitamins, purchaser foods, and agribusiness, are working with a chief recognition on studies & development to introduce product innovation in the rice protein marketplace. The organization ambitions to enlarge its presence within the rice protein market by using adopting acquisition and merger techniques in the coming years.
Consumers have become 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 gives brown rice protein healthier characteristics over milled rice protein. Another element to boost its popularity is the developing customer expertise approximately the blessings of brown rice in lowering the hazard of Type 2 diabetes, with the intention to keep to steer micro-developments in the rice protein marketplace. Market players are expected to capitalize on increasing patron call for plant-based, non-GMO, and clean label substances with the launch of natural brown rice proteins.
Analysts have taken into consideration the most vital components of the studies method to evaluate the growth of the rice protein market during the forecast period 2018-2028. Actionable insights received from enterprise specialists in rice protein marketplace were extrapolated and industry-established information about the competitive landscape of the marketplace has enabled analysts to come up with this insightful observe on rice protein marketplace.
A complete list of resources for primary research and secondary research used to attain vital insights at the increase potentialities of rice protein market is supplied within the study. The systematic method toward rice protein marketplace research adopted with the aid of analysts to accumulate critical statistics approximately the market in addition to the boom avenues for producers, investors, distributors, and different stakeholders in rice protein marketplace.