Growing Health Consciousness of Consumers Drives the Oryzenin Market

Northbrook, IL, USA, 2019-Dec-02 — /EPR Network/ —The oryzenin market is estimated at USD 88.2 Million in 2016 and is projected to reach USD 198.2 Million by 2022, at a CAGR of 14.5% during the forecast period. The market is driven by factors such as the increasing demand for rice protein due to its functional properties, growth in consumption of plant protein, cost-effectiveness of plant protein as compared to animal protein, and the increasing awareness among consumers towards the importance of protein.

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The concentrates segment, by type, is projected to grow at the highest CAGR from 2016 to 2022

The concentrates segment is projected to grow at the highest CAGR during the forecast period. This is due to the fact that it is more cost-efficient as compared to isolates and with further developments in the product specification; hence, the concentrates type is expected to witness an increase in demand over the next few years.

Sports & energy nutrition segment, by application, is projected to dominate the market in 2015

The sports & energy nutrition segment, by application, is projected to dominate the market from 2016 to 2022. This is due to the increase in consumption of sports & energy drinks due to the trend of healthy living among consumers.

The North American region accounted for the major market share for oryzenin between 2016 and 2022. The rise in demand for processed food & beverage products and various nutraceutical products in the North American region is driving the oryzenin market, as it provides all the essential amino acids. The increase in the application of plant-based proteins in nutraceuticals, food & beverages, and health supplements is projected to fuel the market growth for oryzenin in the next few years.

The major restraints in the oryzenin market are the low consumer awareness about oryzenin proteins and limited R&D activity, with the market for oryzenin being in the nascent stage of development. The global oryzenin market is highly fragmented, with a few multinational companies accounting for a majority share and the rest operating in an unorganized market. The oryzenin market in developed countries is projected to witness a huge growth in demand with the increasing awareness toward plant protein and growing product availability and applications.

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The key players in the oryzenin market are Axiom Foods, Inc. (US), AIDP Inc. (US), RiceBran Technologies (US), Kerry Group plc (Ireland), and BENEO GmbH (Germany). The other players of the oryzenin market are Ribus, Inc. (US), Green Labs LLC (US), Golden Grain Group Limited (China), Shaanxi Fuheng (FH) Biotechnology Co., Ltd. (China), and Bioway (Xi’an) Organic Ingredients Co., Ltd. (China).

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