Global Rice Protein Market By Product Type (Rice Protein Isolates, Rice Protein Concentrates, Others), Applications (Food Ingredients, Dietary Supplements, Animal Feed, Cosmetics)
Market Analysis: Global Rice Protein Market
Global rice protein market is expected to rise from its initial estimated value of USD 112.01 million in 2018 to an estimated value of USD 214.35 million by 2026, registering a CAGR of 8.45% during the forecast period of 2019-2026. This rise in market value can be attributed to rising need of plant protein amid rising amount of health concerns and veganism worldwide.
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Market Definition: Global Rice Protein Market
Rice protein is a powder form of protein that is achieved with treating of brown rice so that the carbohydrates and proteins in the grains are separated and the protein can be isolated. Rice protein is getting increasingly adopted as a substitute to whey protein, and other animal proteins. Rice protein are allergy and gluten-free which is expected to drive the market growth for the products with no side effects associated with the product.
- Increase in demand for protein and protein products from the market is expected to drive the market growth
- Usage of rice protein as a substitute to animal proteins because of the increased preference and adoption is also expected to drive the market growth
- Increase in costing of raw materials required for the production is expected to restrain the market growth
- Quality analysis based on the sensory properties of plants determining the quality of the product is also expected to restrain the market growth
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Segmentation: Global Rice Protein Market
- By Product Type
- Rice Protein Isolates
- Rice Protein Concentrates
- By Applications
- Food Ingredients
- Energy & Sport Drink
- Meat Analogues
- Bakery & Confectionary
- Dietary Supplements
- Animal Feed
- Food Ingredients
Key Developments in the Market:
In March 2016, Plandai Biotech announced that an agreement has been established with AIDP Inc. for the distribution and sales of the product in United States, with the market expected to be established for both the companies.
In February 2018, Axiom Foods Inc. announced that they had received a first method of use application patent for Oryzatein rice protein by the US Food and Drug Administration.
Competitive Analysis: Global Rice Protein Market
Global rice protein market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of rice protein market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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