The recent years have seen an exponential rise in the adoption of veganism culture across the globe. The proliferation of rice protein market can be credited for this transforming demographic preference on a large scale. The unprecedented growth is evident through the statistics released by a reliable source which estimates that the global vegan population crossed nearly 360 million in 2016 while encompassing a huge share from the US. Not to mention, the population worldwide is positively alarmed on the consumption of nutrient-rich food for a healthy and fit living environment.
The rice protein industry trends are also characterized by the introduction of favorable norms by Food and Drug Administration over a humongous range of applications in tandem with high product acceptance amidst the consumers.
Myriad food manufacturing industries are conforming with the global standards to yield anti-allergic and gluten free foods with an intent to serving the consumer needs for healthy lifestyle.Rice protein is demarcated by two main prominent raw materials mainly brown and white rice that are transformed to high protein flour via alpha-amylase enzyme. This manufacturing procedure levels up the protein level thereby reducing the starch content of the broken milled rice. However, it results into a complex process which leads to increased manufacturing cost thereby encumbering the industry expansion
Penetrating an expansive application stratum including cosmetics, food and pharmaceuticals, and animal feed, sports and energy nutrition, bakery, meat analogues, and dairy alternatives, rice protein market size is expected to target a revenue share of USD 115 million over the span of seven years from 2017-2024.
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Considering the product palate, rice protein market is fragmented into organic and inorganic rice protein. The hydrolysate based organic rice protein market is forecast to accrue noteworthy gains over the mentioned timeframe owing to the product’s exceptional characteristics such as high solubility in water, easy digestibility and non-allergic properties. High end usage of the product in sports nutrition, baby food, and weight management would stimulate the industry outlook in the upcoming years. Apparently, the US organic rich protein hydrolysate industry would cross a mammoth of USD 1.5 million by the end of 2024.
Elaborating further on the organic application spectrum, the organic rice protein industry size from dairy alternatives application is projected to foresee a CAGR of 8.5 per cent through 2024. This supports a healthy diet through lactose, gluten and dairy free and hypoallergenic properties.
Moreover, organic rice protein isolates market is probable to witness hefty proceeds in the near future with surpassing a remuneration of USD 35 million by 2024. The organic rice protein isolates, as claimed, are treated with enzymes and are used as beverage mix or an ingredient in protein shakes. Also, the product has gained massive traction globally pertaining to the mounting vegan population and growing demands for vegetarian diet.
Another profound segment positively influencing the worldwide rice protein market is the inorganic rice protein. As per estimates, the inorganic rice protein segment would depict a growth rate of 5 per cent over 2017-2024, perhaps attributing to the widespread use across myriad industries.
Considering the geographical aspects, Germany inorganic rice protein market stands out to be a major revenue generating ground for the global market. It has been apprehended that the region would exhibit a CAGR of 4 per cent through 2024 primarily on the accounts of favorable government regulations pertaining to the use of allergen and gluten free products. Additionally, new product launches coupled with high capital investment in the R&D activities would supplement the business growth in the ensuing years.
Defined by large application gamut, inorganic rice protein market is predominantly characterized by the animal feed applications which is likely to procure an overall business share of 5 per cent within a stipulated time period. Inorganic rice protein in animal feed is used as an alternative to expensive di-calcium phosphate and soybean meal.
The competitive landscape of rice protein market is highly fragmented and aids the presence of top notch industry players like RiceBran Technologies, AIDP Inc., Axiom Foods, and several others. These companies are noted to invest heftily on the research and development operation to augment the current product portfolios and launching advanced products to sustain their geographical presence.
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