Rice is an important staple cereal which is consumed throughout the world. Rice protein is considered as an inexpensive substitute of rice and plant-based hypoallergenic, and an excellent source of high quality protein. Several methods have been used to convert this by-product into other useful substances such as bioactive compounds, food ingredients or food processing aids.
Major factors driving growth of the global rice protein market include high demand from food & beverages industry for dietary supplements. High demand for dietary supplements, owing to hectic life style and growing awareness among consumers related to nutritional benefits of rice protein is expected to boost the market growth. Increasing demand for rice protein in cosmetics, animal feed, and pharmaceuticals are another factors further expected to boost growth of this market over the forecast period. However, easy availability of various substitutes such as soy and pea proteins and complex manufacturing process of rice proteins are some factors expected to hamper growth of the global rice protein market over the forecast period.
The global rice protein market has been segmented on the basis of product type, application, and region. On the basis of product type, the global rice protein market is segmented into, rice protein isolates and, rice protein concentrates. Rice protein isolates accounted for major revenue share, as compared to rice protein concentrates, owing to its minimum carbohydrate and fat level, and maximum protein content.
On the basis of application, the market is segmented into, food & beverages, pharmaceuticals, cosmetics, and animal feed. Food & beverages accounted for highest revenue contribution as compared to other application in this market. This can be attributed to high demand for dietary supplements, and rising preference of consumers for vegan diet.
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On the basis of region, the global rice protein market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to dominate the global rice protein market, owing to presence of several market players, and high demand from food & beverages industry in countries in the region. Market in Asia Pacific market is expected to account for the second-highest revenue, owing to high demand from emerging economics such as China, and India.
Key players in the global rice protein market include AIDP Inc., Axiom Foods Inc., RiceBran Technologies, Nutrition Resource Inc., Bioway (Xi’an) Organic Ingredients Co., Ltd., Golden Grain Group Ltd., Shaanxi Fuheng (FH) Biotechnology Co., Ltd., and Shafi Gluco Chem Pvt., Ltd.