Rice Protein Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030

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 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 forecast period.

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 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.

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.

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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.

“Investments in the production of dry rice protein extracts is anticipated to generate steady demand. Focus on rice protein isolates is expected to remain profitable. However, availability of multiple alternatives for rice protein like pea protein and wheat protein are likely to affect demand in the near future“, according to a Fact.MR analyst

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.