8.2% volume CAGR through the forecast period, 2017 to 2026, according to a collated report of Fact.MR. Worldwide sales of rice protein are estimated to exceed US $ 190 Mn in revenues by 2026-end.
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Inclining Consumer Preference Towards Organic Rice Protein – A Popular Trend
One of the prominent trends observed in the market is inclining consumer preference towards organic rice protein. Organic rice protein currently seeks substantial adoption in the athletics and sports sector. In addition, with growing awareness about food products and dietary sources that deprive use of preservatives, demand for organic rice protein will register in the upcoming years. Soy protein, which has been shown to cause no or no side effects.
Rice protein has witnessed tremendous employment in the pharmaceutical and cosmetic applications. Awareness associated with nutritional food ingredients has been consumed by consumers worldwide, which in turn has stoked demand for dietary supplements. Many favorable conditions have also been implemented by the US Food and Drug Administration, which results in higher acceptance of rice protein among the global population. Manufacturers of food products across the globe are now concentrating on complying with standards, in order to introduce anti-allergic as well as gluten-free food products. This is because of rising consumer inclination towards adopting a healthier lifestyle.
Rice Protein Concentrates wants to register Fastest Sales Expansion through 2026
Based on product type, sales of rice protein concentrates are estimated to be the fastest expansion through 2026, in terms of value. Rice protein concentrates facilitate cost-effective replacement of counterparts, while retaining the taste and color of targeted products, and gaining popularity. Consumers now prefer rice protein, as it is more nutritious and healthier than other plant-derived protein such as whey.
Sports & energy nutrition is the leading application of rice protein, in terms of value. Revenues from this application wants to account for approximately one-third market share by 2026-end. Beverages therefore wants to remain a major revenue contributing segment in the market
Dry Form of Rice Protein to Remain Preferred among Consumers
Dry form of rice protein will continue to be preferred among consumers, with sales poised to account for over US $ 130 million by 2026-end. Revenues from liquid form of rice protein will remain almost half of the time. On the basis of function, emulsifying will remain dominant in the market in terms of value, followed by foaming.
In Asia-Pacific excluding Japan (APEJ), growing demand for nutritional products based on protein in light of soaring consumer awareness on healthy lifestyles has been fuelling adoption of rice protein. APEJ wants to remain the fast-growing market for rice protein, in terms of value. However, revenues from rice protein sales in North America and Europe remain comparatively larger than those from APEJ through the forecast period.
Market Players Adopting Inorganic Development Strategies to Resolve Revenue Challenges
Stock market shares of the global rice protein market , nature of the market is highly competitive and concentrated. Rice protein producers is currently facing low revenue generation and capital investment. In order to resolve these challenges, they are adhering to inorganic strategies of development, which include agreements and partnerships with the global distributors and suppliers.
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Well-established factories are investing in R & D activities for developing novel products as well as enhancing capabilities of their existing products. Fact.MR’s report identifies and supports the expansion of global market for rice protein, which includes Pure Food Company LLC, North Coast Naturals, Z-Company, Nutribiotic, Top Health Ingredients Inc., Green Labs LLC, Shafi Gluco Chem Pvt , Ltd., Shaanxi Fuheng (FH) Biotechnology Co., Ltd., Nutrition Resource Inc., RiceBran Technologies, Golden Grain Group Ltd., Bioway (Xi’an) Organic Ingredients Co., Ltd., AIDP Inc., and Axiom Foods Inc.
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