Analysis of Red Yeast Rice market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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.
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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.
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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.
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The red yeast rice is usually sold through third-party online channels. Some of the key players of red yeast rice market includes,
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.
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On the basis of application type, red yeast rice market is segmented into:
According to the types, red yeast rice market is segmented as:
On the basis of sales channel, red yeast rice market is segmented as:
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