Industry Insights
The global rice
protein market size was estimated over 11 kilo tons in 2015. Rice protein is an
important type of a plant protein and is derived from brown and white rice
varieties. The unique amino acid profile of these additives is driving their
application in end-use industries such as pharmaceuticals and cosmetics.
Rice protein finds its
application in the manufacturing of functional foods, dietary supplements,
energy bars, and sports & energy drinks, owing to which the demand is
expected to grow rapidly over the forecast period. The absence of artificial
sweeteners and chemical additives has led to manufacturers preferring rice
protein over soy and whey.
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Application Insights
Major applications of rice
protein include pharmaceuticals, cosmetics, food & beverages, and animal
feed. In 2015, food & beverages application segment dominated the market by
accounting over 50% of the global volume. Growing demand for products such as
supplements, dairy alternatives, and sports drinks is anticipated to act as a
major driver.
Growing awareness regarding
benefits of plant-based medicines is likely to act as a major driver for
growing demand in pharmaceuticals. The rising health awareness regarding
nutrition-related deficiencies is expected to boost the demand for rice protein
in pharmaceutical manufacturing.
Regional Insights
North America accounted for
over 47% of global market owing to high demand from food & beverage
industry. The presence of a large number of manufacturers coupled with the high
adoption rate of new products is expected to boost market growth.
Asia Pacific is expected to
be the fastest growing region due to growing disposable incomes in emerging
economies of China and India. Increasing awareness regarding healthy lifestyles
coupled with growing demand for protein-based nutritional foods is likely to
fuel market growth over the forecast period.
Competitive Insights
The key players in the
market are Nutrition Resource Inc., Axiom Foods Inc., AIDP Inc., and RiceBran
Technologies. The product nature of rice protein is responsible for the
industry is highly concentrated and highly competitive.
The key players have adopted
inorganic development strategies such as partnerships and agreements with
distributors and suppliers to increase market share. Plandai Biotechnology has
entered into an agreement with AIDP Inc. to sell their products in developed
markets of U.S. and Europe.
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