Rice Protein Market Size To Reach $281.4 Million By 2030

Rice Protein Market Growth & Trends

The global rice protein market size is estimated to reach USD 281.4 million by 2030, expanding at a CAGR of 7.7% from 2024 to 2030, 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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Rice Protein Market Report Highlights

• The global rice protein market size was valued at USD 168.5 million in 2023 and is expected to expand at a CAGR of 7.7% from 2024 to 2030.

• Rice protein concentrates are projected to grow at the highest CAGR of 8.1% from 2024 to 2030, by value, due to their property of not impacting the taste of the product to which they are added     

• Food and beverages accounted for the largest revenue share in 2023. The increasing consumer demand for plant-based and allergen-free protein sources.

• Meat analogues & extenders are expected to witness the fastest CAGR in the coming years due to the increasing consumer shift towards plant-based diets and the rising demand for meat substitutes.

• The U.S. rice protein market is expected to witness a significant CAGR over the forecast period. This anticipated expansion is driven by increasing consumer awareness of the health benefits associated with plant-based proteins and a growing preference for allergen-free, vegan, and vegetarian dietary options.

• Asia Pacific is projected to be the fastest-growing region owing to an increase in demand from emerging economies and increasing spending powers of consumers

• In January 2024, RiceBran Technologies announced the sale of its Golden Ridge rice mill in Wynne, Arkansas, for USD 2.15 million. This strategic move aimed to decrease the company's annual net loss by about USD 1.5 million based on third-quarter 2023 results.

Rice Protein Market Segmentation

Grand View Research has segmented the global rice protein market based on segregation, product, source, application, organic rice protein application, and region:

Rice Protein Segregation Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Organic Rice Protein

• Processed Rice Protein

Rice Protein Source Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Brown Rice

• White Rice

• Others

Rice Protein Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Rice Protein Isolates

• Rice Protein Concentrates

• Others 

Rice Protein Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Food and Beverages

• Pharmaceutical

• Cosmetics

• Animal feed

Rice Protein Organic Rice Protein Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Sports & Energy Nutrition

• Bakery & Confectionery

• Meat Analogues & Extenders

• Dairy Alternatives

• Others

Rice Protein Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • Spain

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Rice Protein Market

• Axiom Foods, Inc.

• RiceBran Technologies

• Bioway Organic Group Limited

• Golden Grain Group Limited

• Shafi Gluco Chem Pvt. Ltd.

• The Green Labs LLC

• Top Health Ingredients

• NutriBiotic

• Z-COMPANY

• BENEO

• AIDP

• Kerry Group plc.

• Sweet Additions

• Cambridge Commodities