The Valuation of the Rice Protein Market Projected To Reach At US$ 108 Million through 2018-2028

The purpose of this comprehensive forecast report presented by FactMR is to elaborate the various market projections impacting the global rice protein market report during the period through 2018-2028. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US$ 108 Million) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the rice protein market during the forecast period.

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In Brief

  • During 2013-2017, the rice protein market grew at a healthy CAGR of 6.0% owing to increased consumer awareness and inclination towards plant-based protein products.
  • In 2018, the valuation of the rice protein market was nearly US$ 108 million, and it is likely to witness a y-o-y growth of nearly 7% in 2019.
  • The rapidly increasing number of consumers adopting vegan lifestyle is expected to generate significantly high demand for plant proteins and the global market for rice protein is expected to envisage incremental growth at a CAGR of nearly 8% during 2018-2028.
  • Europe is currently the leading market for rice protein, accounting for over one-third revenue share.
  • South Asia is expected to emerge as a high-growth market for stakeholders, with India leading the rally.

 

What are the Key Growth Drivers of Rice Protein Market?

  • Ongoing R&D (research & development) activities are revealing scientific evidence on the advantages of plant-based ingredients, such as rice protein. Consumers looking for a nutritious, plant-based diet are viewing rice protein as a feasible option.
  • Growing appetite for unique value-added characteristics of food is changing consumers’ approach towards the ingredient list and nutritional table of food products. This is driving food manufacturers to adopt innovative proteins and introduce healthier products to meet the dynamic nutritional requirements of the health-conscious consumer base.
  • With the increasing prevalence of lifestyle diseases, including obesity, consumer demand for high-protein food products has soared, creating significant opportunities for companies.
  • Veganism is going mainstream with increasing consumer belief that ‘natural is healthier’. This has upped the demand for natural ingredients in a range of food and beverage products.

 

Rice Protein Market – Notable Developments

  • In March 2019, Axiom Foods Inc. – an American manufacturer of functional food ingredients – announced it has entered an agreement to enlist Univar Solutions – a U.S.-based distributor and providers of ingredients and value-added services – as its official distributor in the U.S. Univar Solutions will distribute Axiom’s plant-based products, including rice protein, pea protein, rice and oat dairy alternatives, and rice sugar, in the U.S. With this agreement, Axiom Foods aims to leverage Univar Solutions’ vast distribution network in the U.S. to strengthen its position in order to become more accessible throughout its supply chain network in the country.
  • In November 2018, RiceBran Technologies – a U.S.-based manufacturer and marketer of rice bran products and a leading player in the rice protein market – announced it has acquired the assets and operations of rice bran stabilization and rice milling facility of Golden Ridge Rice Mills – a leading manufacturer of premium grade white rice – in Wynne, Arizona. The acquisition is a part of the company’s new stabilized rice bran (SRB) business strategies to establish a strong presence in Arkansas, which is a leading rice-producing state in the U.S., in order to enhance the supply chain management and gross margins in its SRB business.
  • In April 2019, Healy Group Limited – a European supplier of high-quality ingredients and raw materials for the soups and sauces sector – announced the launch of PrimaPro™, its new product range ultra-fine, powdered pea and rice proteins. The company aims to target the bakery, snacks, and beverage sectors to boost the profitable sales of its new product range of pea and rice proteins.

Kerry Group plc

Established in 1972, Kerry Group is headquartered in Tralee, Ireland. Kerry Group is a leading player in the F&B industry that offers a wide range of nutritional products. The three business segments of the company – taste and nutrition, consumer foods, and agribusiness, are operating with a major focus on research & development to introduce product innovation in the rice protein market. The company aims to expand its presence in the rice protein market by adopting acquisition and merger strategies in the coming years.

Shafi Gluco Chem Pvt. Ltd.

Shafi Gluco Chem Pvt. Ltd. was founded in 2003 and headquartered in Karachi, Pakistan. The company offers versatile food ingredients for confections, baked goods, beverages, soups, desserts, dressings, meats and seafood, spreads, snacks and cereals, and sauces and gravies. Despite volatile raw material prices, Shafi Gluco Chem Pvt. Ltd. is planning to bolster growth in the market with the help of strategic acquisition, frequent new product launches, and expansion through alliances partnerships and agreements.

RiceBran Technologies, Kerry Group plc, Shafi Gluco Chem Pvt. Ltd., Golden Grain Group Ltd, Bioway (Xi’an) Organic Ingredients Co., Ltd., Beneo GmbH, Axiom Foods Inc., AIDP Inc., Shaanxi Fuheng (FH) Biotechnology Co., Ltd, The Green Labs LLC, Nutribiotic,  Top Health Ingredients Inc., North Coast Naturals, and Pure Food Company LLC are among the leading players featured in the rice protein market report.

Consumers are becoming aware of the nutritional advantages of brown rice over milled rice. The former is richer in protein, dietary fibers, lipids, and B vitamins than the latter, which gives brown rice protein healthier characteristics over milled rice protein. Another factor to boost its popularity is the growing consumer knowledge about the benefits of brown rice in reducing the risk of Type 2 diabetes, which will continue to influence micro-trends in the rice protein market. Market players are expected to capitalize on increasing consumer demand for plant-based, non-GMO, and clean label ingredients with the launch of organic brown rice proteins.

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