Rice Protein Market value worth USD 85.3 million 2021 | Market Data Forecast
The Global Rice Protein Market was worth USD
63.3 million in 2016, and is expected to grow at a CAGR of 6.15%, to reach USD
85.3 million by 2021. Rice protein is considered as an alternative to the
popular whey and soy proteins. It is extracted by treating sprouted rice with
enzymes to separate carbohydrates from proteins. The extracted protein is added
directly or as flavored in the industries. Rice protein flavor is preferred to
whey protein in artificial flavoring industry due to its distinct taste and
flavor and it is also less unpleasant than whey protein.
Rice protein contains high quantities of
cysteine and sulphur containing amino acids. It is generally used in
conjunction with pea protein to balance the lack of lysine in rice protein. The
amino acids present in rice protein are essential in tissue rebuilding and it
is also found to aid in the recovery of muscles.
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Increasing demand for the use of dietary
supplements in food and growing awareness of consumers towards healthy eating
habits are majorly expected to drive the market. Increase in demand for plant
based protein consumption in diet management, growing use of artificial protein
flavors in food and beverage industries, applications of rice protein in
pharmaceutical and cosmetic industries are also expected to drive the market
growth. However, presence of better alternatives such as soy and whey proteins
and relatively high costs are restraining the market growth.
The Rice Protein Market is categorized based
on the product, type, application, form and region. Based on product, the
market is categorized into Concentrates, Isolates and Hydrolysates. Isolates
are the most common type of proteins and hence they occupy the largest market
share in products segment. Based on type, the market is categorized into
Organic rice protein and Inorganic rice protein. Organic rice protein holds the
largest market due to the increasing demand for gluten free and non GMO protein
supplements. Based on applications, the market is segmented into
Pharmaceuticals, Food and Beverages, Cosmetics, Animal Feed and others. Food
and beverage market holds the largest market share due to the large number of
applications in this segment and high demand for nutritional food. Food and
beverage segment is further categorized into Sports and Energy Nutrition,
Bakery & Confectionary, Meat Analogues & Extenders, Dairy Alternatives
and others. Based on form, the market is segmented into dry form and liquid
form.
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Based on geography, the
market is categorized into North America, Europe, Asia-Pacific, Latin America,
Middle East and Africa. North America leads the Rice Protein market due to the
high adoption rate of new products and technologies in this region. Asia
Pacific is expected to be the fastest growing segment due to the increasing
demand for healthy and nutritional food.
Some of the major players in
this region are RiceBran Technologies, AIDP Inc., Nutrition Resource Inc, Axiom
Foods Inc., Golden Grain Group Ltd., Nutribiotic, Shaanxi Fuheng (FH)
Biotechnology Co., Ltd. Bioway Organic Ingredients Co., Ltd. and Shafi Gluco
Chem Pvt. Ltd.
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