Health Claims Surrounding Protein Infused Food to Create Growth Prospects for Rice Protein
Health trends surrounding rice protein infused products provides growth opportunities for the overall market. Consumption of protein-infused food items is high in demand as many media houses are aggressively promoting the advantages of protein-infused foods to improve one's health.
Consumers looking for ways to adopt a healthy and active lifestyle, and food companies capitalizing on this aspect are anticipated to give impetus to the market over the forecast period. Rice protein market is experiencing high traction in North America, Europe and Asia-Pacific regions.
However, the flow of rice protein from distribution channels continues to be limited due to vehicle shortages, lack of manpower and numerous state laws curbing the global pandemic.
Protein Fortified Solutions Fueling Growth of Rice Protein Market
With rice protein being primarily used as an additive in multiple applications, rice protein market is still in its nascent phase of development. Rice protein market is expected to enter the nascent stage of growth by mid-term forecast and show prominent growth thereafter.
This growth is expected to be further fueled by non-soy protein-fortified solutions sought by end-use industries. Intensified efforts of rice protein manufacturers to introduce novel products and proportionally increasing demand is expected to fuel the market growth, which is expected to present an absolute dollar opportunity of more than US$ 100 Mn during the forecast period.
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Dry Rice Protein Extract to Generate Highest Revenue in Rice Protein Market
Dry rice protein extract accounts for more than 60% of demand, and has been gaining share of liquid rice protein extract in the past. Demand for dry rice protein extract has been shown to be increasing due to better quality and efficient mixing properties.
Grain products and pastas, dairy products analogs, beverages & bases, and baking goods & baking mixes are top applications of dry rice protein extract. Combined with the efforts of rice protein manufacturers to introduce new functionalities like heat stability and improvements in taste profile & mouth feel, dry rice protein extract is expected to present absolute $ opportunity of nearly US$ 100Mn during the forecast period.
Incorporation of Rice Protein in Baking Goods is Projected to Give Impetus to Baking Goods & Baking Mixes Segment
Baking Goods & Baking Mixes segment is expected to retain its dominance within the global rice protein market in terms of revenue, and is projected to create an absolute opportunity of over US$ 5 Bn, growing at a CAGR of 8.1% during the forecast period (2020-2030).
Baking goods & Mixes are being employed heavily in the baking industry to produce ready-to-eat products. Such ingredients improve the color, length, texture, softness of the taste and other properties of the food products.
These are available in various varieties and their use in bakery products depends on consumption trends in different regions. The incorporation of rice protein in baking mixes is acting as a growth lever among consumers who are focused on getting a better understanding of the origin of their food and avoiding products that are considered unnatural or unhealthy.
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Europe Leads Regionally in Rice Protein Market
Europe is the leading market for rice protein, accounting for more than 1/3rd of the total share. Increasing demand from food processing industry has been one of the driving factors for rice protein market. Investments in certifications and labels compliant with European standards and end use requirements is expected to supplement growth of rice protein.
Investments to open production facilities in top rice producing countries like India, China, and ASEAN countries are expected to be highly beneficial for rice protein manufacturers. Targeting the growing demand of plant protein in Europe is expected to create new revenue streams for rice protein manufacturers. Establishing collaborations with domestic players and suppliers in Europe is expected to bolster the position of companies in rice protein market.
Innovations to Pave Way for Rice Protein in Plant based Protein Market
The global rice protein market is consolidated market with top contender’s holdings more than 40% market share focused on addressing end user needs with rice protein like increase in flow rate, better emulsion and low lump formation.
These top companies have also focused on introduction of innovative products, with an increase in functional properties, and leveraging ‘label claims’ like gluten-free, allergen-free and dairy free among others to meet consumer demand. Some developments include:
- In 2020, Milk Specialties launched their ‘PROriz Brown Rice Protein’ and showcased the product at ‘Natural Products Expo West 2020’. PROriz is aimed to meet multiple requirements for nutrition as well as functional properties like heat stability
- In 2019, Axiom Foods Inc. entered into an agreement with Univar Solutions as a primary distributor and provider for United States. The agreement was aimed at distributing plant based products including rice protein by leveraging the wide distribution network of Univar Solutions
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Impact of Covid-19 on Global Rice Protein Market
Unlike other markets, a change in consumer habits has resulted in increased demand for many other essential food and beverage products. At the same time, manufacturers of rice protein are deciding how best to address potential supply chain disturbances and capacity limitations that may prevent them from meeting changing customer requirements.
In particular, the market for rice protein also faced the drastic impact of the Covid-19 crisis as demand was observed to decrease in January and February during those months relative to demand in 2019.
Under the optimistic scenario, the global market for rice protein is expected to remain squat in the first quarter of 2020 under the strong impact of Covid-19, and demand from the second quarter may once again increase.
Rice Protein Market: Scope of the Report
- The recent study on the global rice protein market by Fact.MR offers a decade long forecast, incorporating the key drivers, restraints, opportunities and threats to the market. The market has been segmented on the basis of product type, source, extract type, application. Region wise, the global medical ventilators market is divided into North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa. The report includes an in-depth analysis of value chain, business execution and supply chain across all the regions.
- A detailed competitive landscape has been embedded within the report. Detailed analysis of important market players in terms of key expansion strategies, technological developments, and landmark agreements with fellow competitors, have been incorporated.
An Adaptive Approach to Modern-day Research Needs
Rice Protein Market: Segmentation
Fact MR’s study has done the segmentation of the rice protein market on the basis of product type, source and application, end-use and region.
- North America
- Latin America
- Middle East & Africa
- Other Sources
- Infant Milk Formula
- Bakery & Confectionery
- Dairy Products
- Savory & Snacks
- Animal Feed
- Other Applications
- Mining & Agriculture
- Homeland Security & Defense
Rice Protein Market: Report Summary
The global rice protein market is anticipated to witness a notable upsurge during the forecast period 2020 to 2030, conferring to a new Fact.MR study. The study promotes crucial trends that are presently determining the growth of the rice protein market.
This newly published and perceptive report sheds light on vital dynamics, which are likely to convert the future of the rice protein market, in turn generating worthwhile opportunities for key companies as well as evolving players who are interested in the manufacturing of rice protein.
The rice protein market study is a detailed market intellect on key revenue progression factors, challenges, industry trends, and opportunities, which will eventually influence the growth of the rice protein market. The report primarily conveys a summary of the rice protein market, considering present and upcoming food and beverages industry scenarios, to reveal striking sides relating to the acceptance of rice protein across prominent regional markets.
A detailed assessment on few of the rice protein raw material suppliers accessible in the report allows the report readers to obtain detailed findings that have resulted from rice protein supply chain analysis, business execution, and value chain analysis across the regional markets incorporated in the report. A list of prominent companies functioning in the rice protein market provided in the report enhances reliability of this ample research study.
Rice Protein Market: Report Scope
The study offers a comprehensive overview on diverse features that are inducing demand, revenue generation and sales of rice protein across the globe. A comprehensive estimate on the rice protein market has also been made accessible by the experts, who have considered the market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario regarding sales of rice protein during the forecast period.
Rice protein Market: Analysis on Market Size Evaluation
Predictions of the rice protein market, encompassing current as well as forthcoming projected values estimate and analysis on region-wise demand trends and price index have been assimilated in the report. Market estimates at the regional and global scale for rice protein are available in terms of “US$ Mn” for value and “Tons” for volume.
A Y-o-Y growth contrast on prominent rice protein market segments, along with the market attractiveness valuation computes understandings brought in the report. Metrics mentioned above are also followed based on rice protein products where rice protein witness a steady demand.
Rice protein Market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on rice protein market, which delivers projection on the regional markets. These chapters brighten the regional macros (political economic, and business environment outlook), which are expected to have a significant impact on the growth of rice protein market during period of forecast.
Country-specific valuation on demand for rice protein has been offered for each regional market, along with the market scope estimate and forecast, price index, price point assessment, and impact analysis of dynamics of prominent regions and countries. For all regional markets Y-o-Y growth estimates have also been incorporated in the report.
Rice protein Market: In-depth Analysis on Competitive Landscape
The report ends with a section on the competition scenario of rice protein market, along with the profiles of major companies contributing to the market expansion. Essential and up-to-date data as well as information correlated to the market performers, who principally engage in the production and supply of rice protein, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to plan preemptive steps to advance their businesses.
Impact of Covid-19 on Rice protein Market
The report includes a scenario-based assessment of impact of Covid-19 on the rice protein market across key regions for all four quarters of 2020. The report discusses the market forecast under the optimistic, probabilistic and pessimistic scenario. Under the three scenarios, the demand loss and recovery has been illustrated and described through L-shaped and U-shaped recovery curves. Alongside, the Covid-19 impact has been benchmarked with previous crisis including the sub-prime crises, Eurozone crisis and SARS pandemic.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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