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The global rice protein market is projected to grow at a significant pace during the forecast period, due to the increasing global demand for plant protein, attributed by increase in number of vegan population. High health benefits associated with rice protein is projected to fetch it great popularity as a crucial protein ingredient that can be utilized in the preparation of sports nutrition products, energy food product, and others.
Key companies operating in the global rice protein market are focusing on the launch of novel products, expansion of product portfolio, and acquisition of small players to maintain their market significance. AIDP, Inc. (USA), Axiom Foods Inc. (USA), and RiceBran Technologies (USA) are some of the key companies performing in the global rice protein market.
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Rice protein is mainly derived from white and brown rice and is a rich source of gluten-free protein. Rice protein is obtained by treating rice with selective enzymes to separate carbohydrates and protein. There are various applications of rice protein and is considered as one of the prominent plant protein types due to the presence of low carbohydrates and fat content within it.
Rising health consciousness among consumers has led to increased demand for healthy, nutrition-rich, and protein-rich diet, which is projected to fuel the growth of the global rice protein market. Growing food & beverage processing industry, coupled with the growing demand for functional food & beverage products across the globe is anticipated to aid the market growth in the forthcoming years.
Raw material price fluctuation is anticipated to restrain the market growth of rice protein during the forecast period. Furthermore, the high price of the product is expected to obstruct the rice protein market growth during the forecast years.
Some of the major companies that are present in the global rice protein market are Axiom Foods Inc. (USA), RiceBran Technologies (USA), AIDP, Inc. (USA), Shaanxi Fuheng (FH) Biotechnology Co., Ltd. (China), Shafi Gluco Chem Pvt., Ltd. (Pakistan), Golden Grain Group Limited (China), Bioway (Xi’An) Organic Ingredients Co. Ltd. (China), North Coast Naturals (Canada), and Nutrition Resource Inc. (USA) among the other players operating in the global rice protein market.
By Product Type
· Food & Beverage
· Animal Feed
· North America (U.S., Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
On the basis of product type, the global rice protein market has been segmented into isolates, concentrates, and hydrolysates. The isolates segment is anticipated to hold the major market share during the forecast period, due to the presence of high protein content within them. The concentrates segment is anticipated to exhibit fast growth during the forecast years, owing to their growing popularity and their ability to replace high-cost similar products. Cost-efficiency of the product is another significant reason that is expected to contribute to the growth of concentrates segment during the forecast period.
On the basis of application, the global rice protein market has been segmented into food & beverage, pharmaceuticals, cosmetics, and animal feed. Food & beverage segment is anticipated to hold the major market share during the forecast year due to fostering demand for plant-based protein, attributed by their health benefits. Rising demand for rice protein from the bakery industry, dairy industry, and sports nutrition energy is expected to contribute to the growth of the segment in the upcoming years.
North America has the major market share in the current global rice protein market and is expected to dominate the market during the forecast period, owing to the presence of key market players in the region, coupled with presence of USA in the region, where demand for rice protein is considerably high. Rising demand for sports and nutrition food & beverage products in North America, coupled with increasing consumer awareness towards health benefits of rice protein is anticipated to contribute significantly in the growth of rice protein market in North America. Asia Pacific is projected to grow at a faster pace during the forecast years, owing to rising demand for protein and protein products from emerging economies, such as India, China, and others. Rising per capita income of people living in Asia Pacific is anticipated to affect the rice protein market of the region positively during the forecast years.