Red Yeast Rice Market- Overview
Red yeast rice is used as both food and medicine. It is prepared by fermenting a type of yeast called Monascus purpureus over red rice. The red yeast rice mixture is mainly utilized as a medicinal product as it contains compound monacolin K that appear to lower the cholesterol levels. The monacolin K is the same ingredient that is used in the prescription of cholesterol-lowering drug lovastatin. The powdered red yeast rice mixture is a dietary staple and has been used in traditional Chinese medicine. The red yeast rice is also available as an oral supplement. It is used to lower cholesterol, improve blood circulation, digestion and lower the risk of heart disease.
If the process of culturing red yeast rice is not carefully controlled, then the substance names Citrinin has been formed, which on dietary supplement can cause Kidney failure. The non-consultant diet of red yeast rice can cause abdominal discomfort, heartburn, acidity, headache, dizziness and others.
Red Yeast Rice Market Dynamics
The red yeast market is primarily driven due to its key application as a health product and food additives. The therapeutic application of red yeast rice is increasing its demand and contributing towards the market growth, as it contains monacolin K, which is the main substitute for the cholesterol-lowering drug lovastatin. Also, the demand for red yeast rice market is increasing more in some specific region where it is being used as food additives. Also, the availability of the red yeast rice with the regional suppliers and retail stores will enhance its demand and market growth of red yeast rice. But the side effects of the red yeast rice market is lowering its demand. Some red yeast rice products contain a contaminant called citrinin, which can cause kidney failure.
According to U.S. Food and Drug Administration (FDA), some of the red yeast rice products contain more than trace amounts of monacolin K, which is an unapproved new drugs. So it cannot be sold legally as a dietary supplements. Surely affecting the sales of red yeast rice market.
Red Yeast Rice Market- Regional Analysis
The red yeast rice market is divided into seven regions: North America, Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). China is the most prominent region for the red yeast rice market as it also used as a food additive in this country, followed by the U.S. The number of the consumers in Asia region is more as compared to the other regions. The demand for red yeast market is also increasing in North America regions as well. The other regions including the Latin America, Europe, Middle East and Africa show significant growth in the market for red yeast rice.
Red Yeast Rice Market- Key Segments
On the basis of application type, red yeast rice market is segmented into:
- Herbal Supplement
- Dietary supplement
- Functional food
According to the types, red yeast rice market is segmented as:
- Capsule & tablet
- Powder extract
On the basis of sales channel, red yeast rice market is segmented as:
- Specialty store
- Pharmaceutical stores
- E-commerce websites
- Other retail format
Red Yeast Rice Market- Key Manufacturers
The red yeast rice is usually sold through third-party online channels. Some of the key players of red yeast rice market includes, Sundown Naturals, Qingdao BNP Co. Ltd., Puritans Pride, Zhejiang Sanhe Bio-tech Co Ltd., Now Health Group Inc., Zenith Food Solutions Private Limited., Solgar Inc., Jarrow Formulas, Weider Global Nutrition, Wakunaga Pharmaceutical Co. Ltd., Setu Counter Cholestral, BioScience Nutrition, Nutraceutical Corporation and many others
Red Yeast Rice Market- Competitive Analysis
The competition in the red yeast rice market is at a moderate rate as the demand is stagnant in the global market. The competition in the market is between the retail suppliers, distributor and the third-party online channels. The product is easily available on these online channels at a good price with a variety of products and home delivery option. The consumer are more attracted to buy products from these channels creating competition in the red yeast rice market.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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