The Global Rice Protein Market stood at 739. 18 million usd in 2021 and is projected to register a CAGR of 3. 02% to reach 857. 71 million usd in 2026. Key Highlights Largest Segment by Form - Isolates : Rice protein isolates hold the largest market share due to the growing demand for rice bran protein isolates that consist of 92% protein, thereby driving the segment’s growth.
New York, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Rice Protein Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026" - https://www.reportlinker.com/p06321763/?utm_source=GNW
Largest Segment by End User - Food and Beverages : Rice protein application in the F&B sector is rising as it is an allergen-friendly alternative to soy and animal dairy proteins, mainly as meat alternatives and in beverages.
Fastest Growing Segment by Form - Textured/Hydrolyzed : The rising demand for hydrolyzed rice protein for its application in skin and hair care products, aided by its ability to bind moisture, is fostering the segment’s growth.
Fastest Growing Segment by End User - Personal Care and Cosmetics : The features of rice protein, like increasing skin elasticity, conditioning, source of amino acids, etc., have led manufacturers to enhance their products with rice protein.
Key Market Trends
Largest Segment By End User : Food and Beverages
F&B remained the largest consumer of rice protein, among other end-user segments. The share was majorly influenced by meat and meat alternatives that accounted for 82.82% of the rice protein volume consumed in 2020. Rice protein, mainly in the isolates form, has an ability to match meat protein content, which is driving its demand in the segment. On the other hand, supplements remained the second-largest application. Both the F&B and supplements sectors were largely benefitted from the introduction of organic and clean label claims.
The sports and performance nutrition sub-segment drove the segment in the studied period and also projected to register the fastest CAGR of 4.35% during the forecast period. Globally, the total number of health and fitness clubs grew by 12% between 2014 and 2019. The personal care and cosmetics segment is projected to register the fastest CAGR of 4.51% during the forecast period.
Largest Region : Asia-Pacific
Asia-Pacific is the leading market for rice protein globally. Brown rice protein, in particular, has specific peptides that help people lose weight more effectively than white rice protein or soy protein. Thus, the regional market is seeing increased demand for organically-sourced brown rice protein over white rice protein.
In India, rice production increased by 8.92%, by volume, between 2016-2020, thus, catering to the surging demand. In North America, the rising animal protein intolerance and protein supplement demand resulted in consumers increasingly adopting vegan dietary diets, thus, boosting the rice protein market. In the United States alone, the percentage of vegans rose from 0.4% in 2017 to almost 3.5% in 2019. Over the forecast period, the Middle East is projected to record the highest CAGR of 3.95%, by value. Global players identifying market opportunities and increasing their supply in the region is driving growth. Moreover, the increasing local production of raw material is further expected to boost the growth. In 2020, Iran produced 2.9 million ton to attain self-sufficiency.
The Global Rice Protein Market is fragmented, with the top five companies occupying 36.19%. The major players in this market are A. Costantino & C. SpA, Axiom Foods Inc., Kerry Group PLC, Südzucker AG and The Scoular Company (sorted alphabetically).
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