The global organic rice protein market size was USD 34.3 million in 2015 and is expected to witness rapid growth over the forecast period. The non-GMO, non-toxic, organic, and vegan nature of the product is likely to propel its demand in various food & beverage products. Organic rice protein is hypoallergenic which allows it to replace soy, dairy, or gluten proteins which are dominant allergens.
The production of plant-based proteins generates 11 times fewer carbon emissions as compared to that of animal based protein. While proteins extracted from lamb, beef, pork, cheese, and salmon result in a huge amount of pollution during manufacturing, plants are the most environment-friendly sources of protein. The market has witnessed an increase in utilization of organic products which is likely to have a positive impact on the demand over the next eight years.
The product is being increasingly utilized in non-dairy drinks and sports & recovery drink formulations. Increasing R&D to develop a high-quality product is expected to provide market growth opportunities over the forecast period. Low cost and superior properties of organic rice protein are likely to open new avenues over the forecast period.
A wide range of functions served by the product in the food & beverage industry, such as foaming, emulsification, gelation, viscosity, and solubility, is likely to increase its utilization over the coming years. However, low consumer awareness regarding rice protein coupled with the availability of numerous alternative products in the market is expected to pose a challenge for the industry players over the next eight years.
U.S. organic rice protein market volume, by application, 2013 - 2024 (Tons)
Sports & energy nutrition application dominated the organic rice protein market with a share of over 85% in 2015. The product improves the metabolism and also keeps the sugar levels of the body under control. The consumption of organic rice protein enhances the nutrition composition, power, and muscle mass of the human body, which has led to the rapid acceptance of the product in sports & energy nutrition application.
The product demand from meat analogues & extenders segment is expected to grow at a considerable pace over the forecast period on account of increase in vegan population. High consumer preference towards vegan diet over non-vegetarian food as it reduces the risk of heart diseases, obesity, and high cholesterol, is likely to have a positive impact on growth.
Organic rice proteins are available in numerous forms including isolates, concentrates, hydrolysates, and ion exchange protein. Isolates are the most commonly used form of the product with a market share of about 50% in 2015. It has over 90% of the protein content which is likely to increase its utilization in beverages, cooking, and baking purposes. It is also preferred as a flavor enhancer in food & beverage industry. The concentrates are likely to witness significant growth on account of low cost and high investment by numerous market players worldwide.
Europe market is likely to witness the fastest growth over the forecast period on account of growing consumer awareness due to social media, especially in Germany, UK, and France. In addition, increasing use of meat analogues in the region is likely to augment demand over the next eight years.
North America dominated the overall market with a share of over 50% in 2015 on account of high consumer focus towards fitness and sports, particularly in the U.S. and Canada. The presence of key manufacturers in the region has played a key role in increasing market penetration of the product.
The key manufacturers include Axiom Foods Inc., Bioway Organic Ingredients Co., Ltd., AIDP Inc., Golden Grain Group Ltd., Shaanxi Fuheng Biotechnology Ltd., Nutrition Resource Inc., Shafi Gluco Chem Pvt. Ltd., Top Health Ingredients Inc., Shaanxi Fuheng (FH) Biotechnology Co., Ltd, RiceBran Technologies, and The Green Labs LLC.
Partnerships and agreements are the key strategies being adopted by the market players globally. The companies have been trying to increase global reach by expanding the distribution channels and entering into partnerships with key suppliers in various regions. In addition, manufacturers have been investing increasingly in R&D to develop a high quality product to gain certifications and approvals from organizations including FDA. These factors have likely to develop a high level of competition among the players over the coming years.
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