Rice protein market is witnessing lucrative opportunities from growing consumer awareness regarding the consumption of nutritious food products, which is further supported by extension of consumer spending capacities.
U.S. organic rice protein hydrolysate industry is forecast to gain over USD 1.5 million by 2024. Organic rice protein hydrolysates are instilled with superior characteristics, such as easy digestibility, non-allergenic, and good solubility, which has resulted into higher product demand. These hydrolysates are widely utilized in sports nutrition drinks for weight management and in infant foods.
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Inorganic rice protein market is expected to grow at 5% over 2017-2024. Rice protein ingredients enhance the texture of food ingredients, as well as flavor and taste, which has led to growing product demand from the food and beverage industry. Moreover, heightened demand from pharmaceutical, animal feed, and cosmetic industries will provide impetus to industry growth.
Inorganic rice protein market share from animal feed applications is estimated to account for 5% of the global share by 2024. Inorganic rice protein contains added vitamins, amino acid and high amounts of protein, which helps boost resistance against virus in animals. They also aid in food calling activity and overall development of animals. Inorganic rice proteins are widely utilized as a substitute for expensive di-calcium phosphate and soybean meal for animals.
Packed with rich antioxidants and high contents of fiber and B-vitamins, rice protein aids in avoiding blood sugar spikes and boosts weight loss. Increasing visibility of the numerous health benefits associated with consumption of rice protein may fuel product penetration.
Organic rice protein isolates industry is slated to exceed USD 35 million in sales by 2024. The product is treated with enzymes and is used as a key ingredient in functional drinks, health shakes or smoothies, and beverage mix. Shifting trends towards veganism and vegetarianism has encouraged consumers to exclude meat, dairy products any other animal-based products from their diet plans, which will stimulate product demand over the coming years.
As consumers strongly emphasize on healthier lifestyle, food manufacturers are increasingly focusing on producing gluten free and anti-allergic food products. In addition, favorable regulations by FDA supporting usage of rice protein across diverse industries has resulted in product acceptance among consumers and is likely to change business scenario.
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Driven by positive application outlook across cosmetic, sports nutrition, and pharmaceutical industries, global rice protein market size is projected to gain remarkable traction in the coming years. In terms of revenue, rice protein market size is touted to cross the USD 115 million mark by 2024.
Germany inorganic rice protein industry is touted to grow at 4% over the projected timeframe. Favorable government regulations across the region pertaining to allergen and gluten free products may create a conducive environment for industry growth.
Global rice protein industry is competitive and moderately consolidated. Key players operating across the industry include RiceBran Technologies, Axiom Foods, Shafi Gluco Chem, AIDP, Inc., Golden Grain Group and Nutribiotic.
From dairy alternatives application, organic rice protein industry is expected to showcase growth rate of 8.5% over the analysis period. Organic rice protein is lactose, dairy, and gluten free and is hypoallergenic. Better health benefits associated with consumption of dairy alternatives such as skeletal muscle hypertrophy, increase in lean body mass and decrease in fat mass may boost product adoption.
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