Rise in Health and Wellness Trends is Driving the Growth of the Global Rice Protein Market

The global rice protein market has experienced significant growth in recent years, largely due to the increasing awareness and emphasis on health and wellness among consumers. People are actively seeking ways to incorporate better nutrition and regular exercise into their routines as they are concerned about maintaining a healthy lifestyle. Protein powders are often perceived as a convenient and efficient way to supplement protein intake, especially for those engaged in fitness activities. Furthermore, the fitness and sports industry has witnessed remarkable growth, with individuals participating in various physical activities ranging from gym workouts to competitive sports. Rice protein is a clean and minimally processed ingredient. It is considered hypoallergenic, meaning it is less likely to cause allergic reactions compared to some other protein sources, such as soy or dairy. This makes it a suitable option for individuals with food allergies or sensitivities.

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Data Bridge Market Research analyzes that the Global Rice Protein Market is expected to reach USD 372,364.71 thousand by 2031 from USD 267,240.29 thousand in 2023, growing at a CAGR of 4.3% in the forecast period of 2024 to 2031.

Key Findings of the Study

Growing Application of Rice Protein in Functional Foods and Beverages

Rice protein is highly regarded for its amino acid composition, which includes essential amino acids essential for bodily functions. When added to functional foods, it strengthens them with a full and balanced protein source, enhancing their overall nutritional content. The composition of rice protein characterized by substantial levels of Branched-Chain Amino Acids (BCAAs), establishes it as a favorable option for inclusion in sports nutrition products. BCAAs, such as leucine, isoleucine, and valine, are crucial amino acids that play a key role in muscle protein synthesis, which is essential for muscle growth and repair. Rice protein's low-calorie and low-fat attributes make it an ideal ingredient in weight management products. Functional foods designed for individuals focused on weight control can incorporate rice protein to provide a nutrient-dense option without contributing excess calories. Rice protein is utilized in the formulation of meal replacement shakes and bars, enhancing their nutritional content to create a comprehensive profile. These products serve as a convenient and healthy option for individuals seeking swift and well-balanced meals that align with hectic lifestyles. The versatility of rice protein allows its incorporation into a variety of bakery and snack items, such as protein bars, cookies, and crisps. This addresses the demand for convenient, on-the-go snacks that offer a protein boost.

Continual innovation in the food industry drives the development of new products incorporating rice protein. Energy bars, beverages enriched with protein, and functional snacks exemplify the versatility of rice protein, catering to ever-changing consumer preferences. Thus, the surge in demand for alternative protein sources, driven by the increasing popularity of plant-based diets, is fueling the market growth.

Report Scope and Market Segmentation

Segment Analysis

The global rice protein market is segmented into nine notable segments based on type, category, source type, extraction process, modification type, protein concentrates, form, fortification, and application.

• On the basis of type, the market is segmented into isolates, concentrates, and hydrolysates

In 2024, the isolates segment is expected to dominate the global rice protein market

In 2024, the isolates segment is expected to dominate the market with a 62.25% market share owing to its higher protein concentration, purity, and versatility. Isolates are preferred for their effectiveness in various applications, including sports nutrition and plant-based diets.

• On the basis of category, the market is segmented into conventional and organic

In 2024, the conventional segment is expected to dominate the global rice protein market

In 2024, the conventional segment is expected to dominate the market with an 83.32% market share due to its widespread use and affordability. Many consumers opt for conventional rice protein for its established presence and cost-effectiveness in various food and beverage applications.

• On the basis of source type, the market is segmented into brown, white, red, black, and others. In 2024, the brown segment is expected to dominate the market with a 76.75% market share
• On the basis of extraction process, the market is segmented into wet processing and dry processing. In 2024, the wet processing segment is expected to dominate the market with a 78.50% market share
• On the basis of modification type, the market is segmented into thermal modification, chemical modification, and enzyme modification. In 2024, the thermal modification segment is expected to dominate the market with a 72.70% market share
• On the basis of protein concentrates, the market is segmented into >70% protein, between 20%-70%, and <20% protein. In 2024, the >70% protein segment is expected to dominate the market with a 66.62% market share
• On the basis of form, the market is segmented into dry and liquid. In 2024, the dry segment is expected to dominate the market with an 82.48% market share
• On the basis of fortification, the market is segmented into regular and fortified. In 2024, the regular segment is expected to dominate the market with a 92.24% market share
• On the basis of application, the market is segmented into food products, nutraceuticals and Dietary Supplements, beverages, animal feed, cosmetics and personal care, pharmaceuticals, and others. In 2024, the food products segment is expected to dominate the market with a 34.91% market share

Major Players

Data Bridge Market Research analyzes Kerry Group plc. (Ireland), Gulshan Polyols Ltd. (India), Gehl Foods, LLC. (U.S.), Shafi Gluco Chem (Pakistan), and Prinova Group LLC. (U.S.) as the major players operating in the global rice protein market.

Market Developments

• In August 2023, Bioway (Xi'An) Organic Ingredients Co., Ltd. announced the visit of Anurag, a buyer from India, to discuss a potential collaboration on procuring plant-based protein powder for a long-term partnership. The meeting aimed to establish a sustainable supply chain for Bioway Organic's high-quality organic Protein powders.
• In April 2023, Farbest Brands disclosed organizational adjustments aimed at bolstering investments in new product lines and ingredients, with a specific focus on proteins, hydrocolloids, and emulsifiers. These investments in proteins, hydrocolloids, and emulsifiers, are strategic moves to enhance product development and diversification
• In December 2022, Gulshan Polyols Ltd. in collaboration with Amplus, commenced the acquisition of solar energy. This partnership will enable the provision of power to the Muzaffarnagar plant, primarily dedicated to grain and mineral processing. The company anticipates obtaining 400,000 to 500,000 units of electricity monthly at a subsidized cost of 30%-40% through this collaboration for the Muzaffarnagar plant in Uttar Pradesh. This would help the company to increase its production
• In September 2021, Prinova Group LLC. (“Prinova”), a NAGASE Group Company entered into a definitive agreement to acquire industry expert The Ingredient House, LLC (“TIH”). TIH has a significant presence in the sweetener, polyol, and specialty ingredient sectors both in the U.S. and internationally. This purchase represented another stride forward in Prinova’s long history of growth in the ingredient distribution space
• In August 2021, in the span of 125 years, Gehl Foods, LLC. achieved numerous milestones, evolving from a modest three-room creamery in Germantown, Wisconsin, to pioneering as the first FDA-approved aseptic manufacturer. Presently, it stands as the nation's foremost aseptic manufacturer. This helped the company to expand market share, and achieve a competitive edge in the aseptic manufacturing sector

Regional Analysis

Geographically, the countries covered in the global rice protein market report are U.S., Canada, Mexico, Germany, U.K., France, Netherlands, Spain, Belgium, Italy, Denmark, Russia, Sweden, Switzerland, Poland, Turkey, Rest of Europe, China, Japan, India, South Korea, Indonesia, Australia, Thailand, Philippines, Vietnam, Malaysia, Singapore, New Zealand, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, U.A.E., Saudi Arabia, Oman, Kuwait, Qatar, and Rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

North America region is expected to dominate in the global rice protein market

North America is expected to dominate the market due to growing health and fitness awareness among consumers in the region.

Europe is estimated to be the fastest-growing region in the global rice protein market

Europe is estimated to be the fastest-growing region in the market due to consumers' shift towards plant-based diets leading to the growing demand for alternative protein sources.

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