The global rice protein market size is expected to reach USD 198.5 million by 2025, expanding at a CAGR of 8.2%, according to a new report by Grand View Research, Inc. Growing global food and beverage industry has been one of the major drivers of the rice protein market. Increased consumption of functional foods such as sports & energy drinks, energy bars, and dietary supplements have also contributed to industry growth.
These products are considered to be highly effective and efficient alternatives to other plant-based products such as whey and soy due to their high amino acid content. Besides, as these do not contain artificial sweeteners, their chemical content is minimum, as compared to whey or soy.
Isolates accounted for the majority of the market in 2015, in terms of both, volume and value in the product segment. Their protein content is much higher, as compared to concentrates, which are relatively cheaper. Consumers in the U.S and Europe have started combining pea isolates with rice protein isolates as the combination provides added health benefits, which in turn is boosting the demand for these products.
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Further key findings from the report suggest:
- The global demand was in excess of 11.3 kilo tons in 2015 and is projected to grow at a CAGR of 7.3% from 2016 to 2025
- Rice protein concentrates are projected to grow at the highest CAGR of 7.8% from 2016 to 2025, by value, due to their property of not impacting the taste of the product to which they are added
- The rice protein market demand in the food and beverages segment stood at 6.2 kilo tons in 2015, the highest among all applications due to growing market for nutraceuticals and supplements
- The meat analogues & extenders is projected to be the fastest growing segment with a CAGR of 11.6% from 2016 to 2025, in the organic rice protein industry courtesy growing health concerns surrounding consumption of meat and several animal disease outbreaks in recent years
- The U.S. accounted for 78% of the North American market courtesy presence of major manufacturers wide dense distribution networks and growing demand from the sports and energy nutrition segment
- Asia Pacific is projected to be the fastest growing region owing to increase in demand from emerging economies and increasing spending powers of consumers
- Axiom Foods Inc., based in the U.S. and established in 2005, was one of the major players in the industry in 2015 which offered this product under the brand, Oryzatein brown rice protein powder
