Rice protein is a vegan protein isolate that is an alternative to the more common whey and soy protein isolates. Rice protein is rich in various essential components such as sulfur-containing amino acids, cysteine, and methionine, but low in lysine. Rice protein powder has a more distinct taste than most other forms of protein powder. Like other protein supplements, rice protein helps in weight loss and maintains blood sugar levels. It is an abundant source of antioxidants, high B-vitamins, and fiber. Brown rice protein has even been shown to enhance kidney function, heart, and liver and help to regulate cholesterol. Global Rice Protein market is projected to register a CAGR of 13.8% during the forecast period
Top Driver: Health Benefits and Changing Consumer Preferences
The growth in the rice protein market is attributed to its functional properties offering several health benefits. Besides, the growing vegan population in several regions such as Europe has contributed to an increasing number of consumers looking for healthier and cleaner food. Moreover, rice protein is an excellent replacement for the population prone to lactose intolerance as rice protein is free from gluten and lactose. They are potential alternatives to the animal and other plant proteins. Further, they are also employed in other industries such as pharmaceutical, sports nutrition, and cosmetic industries which are expected to propel the global rice protein market in the future. Rising disposable income and changing consumer paradigms for a nutritious diet will enhance the overall demand in the global market.
Enhanced Quality and Improved Functionalities to Boost the Dry Rice Protein
Based on the form, the market has been segmented into liquid and dry. Dry protein accounts for the largest market share and is anticipated to dominate during the forecast period. The dry form has gained relatively more popularity than liquid form due to its ability for efficient mixing and enhanced quality. Dry rice proteins extend their application in various segments such as beverages & bases, dairy products analogs, baking goods & baking mixes, and grain products and pasta. Further, manufacturers are constantly attempting to enhance the functionalities in rice protein such as heat stability and improved taste with the better mouthfeel. These factors are expected to boost the dry form of the rice protein market in the near future.
Rising Investments in Cognitive Intelligence and Research to Benefit North America Market
In recent years several campaigns and environmental issues have encouraged people to adopt a vegan diet in Europe. This has driven the rice protein market in this region as an excellent alternative for animal protein. Moreover, the surging demand for the food processing industry has also fueled the growth of rice protein in Europe. Other factors such as the growing demand for plant protein is anticipated to create a lucrative market in the near future. Various market players adopting the merging strategy with the domestic players and suppliers are expected to foster the market during the forecast period.
Based on the type, the market is segmented into rice protein concentrates and rice protein isolates.
Based on the application, the market has been segmented into dairy alternatives, sports & energy nutrition drinks, beverages, and others.
Players to Focus on Enhancing Functionalities in the Product
Market players are focused on enhancing the rice protein functionalities like increase in flow rate, better emulsion, and low lump formation by introducing innovative products with leveraging ‘label claims’ like gluten-free, allergen-free, and dairy free among others to meet consumer demand. Key players are Axiom Food, AIDP, Inc., RiceBran Technologies, Shaanxi Fuheng (FH) Biotechnology Co. Ltd.
Axiom Foods: In May 2020, The Brenntag Food & Nutrition business announced a collaboration with Axiom Foods, Inc. for the distribution of plant proteins in the United States and Canada. The ingredient line includes hemp, pea, pumpkin rice, and sacha inchi proteins, oat and rice dairy-replacement powders and Axiom’s newly launched texturized pea proteins.
Ribus, Inc.: In May 2020, Ribus Inc. announced partnership with innovative Protein USA to purchase a manufacturing plant in Galesburg. The group purchased the manufacturing site from J. Rettenmaier USA LP and is eager to renovate and begin production soon. Innovative Production USA is focused on high-quality ingredient manufacturing for both the food and dietary supplement industries.
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