North America Rice Protein Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Rice Protein Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North American rice protein market is projected to register a CAGR of 5.1%, during the forecast period of 2020-2025.

Key Highlights

• The rice protein industry acts as a platform for waste utilization. Rice bran from the polishing process is gradually diverted for the production of value-added products, and protein is one of them. Rice protein isolates and concentrates are increasingly being produced from rice bran.
• The increasing incidences of intolerance for animal protein, coupled with the rising demand for alternative protein source products, have resulted in an inclination toward a vegan diet among consumers, which is boosting the rice protein market in the region.

Key Market TrendsIncreasing Demand for Plant-based Protein Products

The increasing incidences of intolerance for animal protein, coupled with the rising demand for alternative protein source products, have resulted in an inclination toward a vegan diet among consumers. The percentage of the vegan population raised to 6% in 2017, from 1% in 2014, a boost for the rice protein ingredient manufacturers in North America. According to the Centers for Disease Control and Prevention, 12.2 million people are suffering from a food allergy, two-thirds of which are associated with egg allergy. Consumers are avoiding animal protein-based products to refrain from residues of antibiotics and hormones found in meat. This factor is leading them to opt for alternative plant-derived protein sources, like rice, pea, and wheat.

United States Holds a Prominent Share in the Market Studied

The demand for rice proteins is growing at a fast rate, owing to change in lifestyle, lack of balanced dietary intake, and improved R&D, in order to develop new kinds of plant-protein-enriched products. The United States continues to capture the largest market share for rice protein, followed by Canada and Mexico. The demand for processed and low cholesterol foods paved the way for the rice-based protein market in the region. Presently, consumers are switching to other alternative products, such as green label food products, coupled with the rising awareness about healthy and plant-based products, due to an increase in the availability of counterfeit products in the market.

Competitive Landscape

The North American market for rice protein is highly competitive, with innovation in products being a major strategic approach adopted by the leading players. This trend is likely to continue in the future, as the established players seek to garner increased market shares. Some of the major players in the North American rice protein market are Axiom Foods Inc., AIDP Inc., RiceBran Technologies, The Green Labs, Shafi Gluco Chem Pvt. Ltd, and Golden Grain Group Ltd, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Axiom Foods Inc.
AIDP Inc.
RiceBran Technologies
The Green Labs
Shafi Gluco Chem Pvt. Ltd
Golden Grain Group Ltd
Top Health Ingredients
Pure Food Company LLC

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