Organic Rice Protein Market Growth by 2024 With Key Players : AIDP Inc.& Axiom Foods
Author : Lopa Shree | Published On : 11 Jun 2021
The global Organic Rice Protein market was valued over USD 30 million in 2015 and is expected to witness rapid growth over the forecast period. The growing demand for organic, vegan, non-toxic and non-GMO food ingredients is expected to fuel the demand for these products. The hypoallergenic nature is proving extremely useful and replacing dominant allergens such as gluten proteins, dairy, and soy.
The high nutritional value of these products owing to the presence of large amounts of amino acids is beneficial for building muscles owing to which organic rice protein is combined with dietary protein in health supplements. Increasing utilization of this product in sports & recovery drinks and non-dairy drinks is expected to propel the demand. High-quality products developed using extensive R & D is driving market growth. Superior properties and low cost of these products are expected to open new avenues for application in end-use industries.
Organic rice protein exhibits functional properties such as viscosity, solubility, emulsification, and foaming which helps in maintaining the quality of the product. Low consumer awareness about organic rice protein coupled with the availability of alternative products coupled is projected to act as a restraint over the forecast period.
Sports and energy nutrition application segment dominated the market in 2015 by accounting for over 85% share. The growing focus on healthy and nutritional drinks containing organic ingredients is expected to have a positive impact on market growth. The ability of these products to improve metabolism and controls sugar level is responsible for rapid growth in this application segment. The growing trend of going vegan is boosting the demand for meat analogues and extenders product category which is expected to boost the demand for these products over the forecast period.
This product is available in different forms such as concentrates, ion exchange protein, hydrolysates, and isolates. Isolates accounted for over 50% of market share in 2015. Isolates are utilized in baking, cooking, and beverages purposes as a flavor enhancer.
Concentrates are witnessing gradual growth due to high investment by various market players and low cost of the product. Concentrates have the ability to replace products such as food proteins without impacting texture, taste, and color of the product.
Europe is expected to witness the fastest growth on account of increasing consumer awareness. Growing consumption of meat analogs coupled with rising focus on healthier lifestyles is likely to propel the demand for organic rice protein over the forecast period.
North America was the most dominant region for this market in 2015 by accounting over 50%, owing to growing demand for sports beverages in Canada and US. The presence of many key manufacturers in this region is likely to drive market growth over the forecast period. High preference towards natural food ingredients is expected to further augment the market growth.
The key players in the organic rice protein market are AIDP Inc., Axiom Foods, and Rice Bran Technologies. The other industry players include Shaanxi Fuheng Biotechnology Co., Ltd., Top Health Ingredients Inc., The Green Labs LLC, Nutrition Resource Inc., Shafi Gluco Chem Pvt. Ltd., Bioway Organic Ingredients Co. Ltd., and Golden Grain Group Ltd.
Agreements and partnerships are the strategies adopted by the key players. Companies are trying to increase their global reach by entering into partnerships and expanding their distribution channels. Key manufacturers are involved in extensive R & D for high-quality product development, which is expected to drive the competition among the key manufacturers.
Organic Rice Protein Product Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)
• Rice Protein Isolates
• Rice Protein Concentrates
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