Feb 17, 2020

‘Label Centric Marketing’ to Heighten Demand for Rice Protein, Market to Grow at CAGR of 8.0%, Opines Fact.MR


by Team Fact.MR

Rice protein market has gained remarkable traction in recent years and is projected to show dexterous growth during forecast period. ‘Label centric marketing’ has been the primary strategy of rice protein manufacturers, to cater to increasing demand of plant based, soy-free proteins. This in turn has benefitted rice protein manufacturers, who are leveraging labels like ‘Non-GMO’, ‘Organic’, and ‘Vegan’ among others to increase demand. Aversion towards dairy derived proteins has supplemented growth of rice protein. Owing to this shift in consumer demand towards alternative protein sources and targeted marketing campaigns of rice protein manufacturers, rice protein market is expected to grow at an accelerated pace in comparison with other plant based proteins, registering a CAGR of 8.0% during forecast period.

Key Takeaways of Rice Protein Market

  • Europe accounts for the highest share in the rice protein market and is expected to grow 2X during the forecast period.
  • Rice protein concentrates are expected to be fastest growing product type in rice protein market and are expected to grow by 2.5X during forecast period.
  • Brown rice is projected to lead the rice protein market and will present faster growth vis-a-vis milled rice.
  • Dry extracts in terms of extract type are expected to add US$ 100 Mn to rice protein market during forecast.
  • In terms of demand, beverages and bases application is expected to show high demand growth and is expected to grow 2.5X in terms of value during forecast period.
  • Demand in breakfast cereals is expected to show significant growth of 2.7X during the forecast period.

“While investments to establish production facilities in top rice producing countries like India, China and ASEAN countries are highly beneficial to manufacturers, companies looking to increase their rice protein sales will benefit greatly by collaborating with European suppliers and distributors”, says the Fact.MR analyst

Manufacturers to Shift Spotlight on Emerging Regions

Rice protein market is consolidated with five players accounting for more than 50% revenue share. Rice protein market has been moving towards consolidation with top companies acquiring emerging players in the market. Top players have been using this strategy to establish their presence in foreign markets like India and ASEAN countries. Rice protein manufacturers actively venturing in foreign markets are Kerry Group PLC, Beneo GmBH, and Axiom Foods, Inc. This two pronged strategy is foreseen to substantially increase production of rice protein and in turn boost growth of the market.

Find More Valuable Insights on Rice Protein Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global rice protein market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the rice protein market on the basis of product type (isolates, concentrates and Hydrolysates), source (brown rice and milled rice), extract type (dry extract and liquid extract), and application {baking goods & baking mixes (breads, rolls, bagels, and muffins), fats & oils (margarine and salad dressings), milk products (flavoured milk drinks, milk-based meal and yogurt), processed fruits & fruit juices(fruit juice, fruit nectars, fruit-flavoured drinks, and fruit smoothies), beverages & bases, breakfast cereals, dairy products analogs, grain products & pastas, meat products, and others} across seven major regions.

>>> To Get more insights on rice protein market, visit- https://www.factmr.com/report/520/rice-protein-market

About The Food & Beverage Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.