Fact.MR has published a new research report on global rice protein market sizes, upcoming industry trends and growth opportunity through 2018-2028 to its online database that tries to unveil the various scenarios prevailing in the rice protein market. This assessment delivers a smart compilation of primary and secondary data which provides a clear insight about the future plans expected to impact the rice protein market. This study comprises of prominent data which makes it a beneficial source for investors, analysts and industry experts to acquire necessary knowledge associated to the fundamental market trends, opportunities and growth drivers.
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During 2013-2017, the rice protein market grew at a healthy CAGR of 6.0% owing to increased consumer awareness and inclination towards plant-based protein products. In 2018, the valuation of the rice protein market was nearly US$ 108 million, and it is likely to witness a y-o-y growth of nearly 7% in 2019. The rapidly increasing number of consumers adopting vegan lifestyle is expected to generate significantly high demand for plant proteins and the global market for rice protein is expected to envisage incremental growth at a CAGR of nearly 8% during 2018-2028. Europe is currently the leading market for rice protein, accounting for over one-third revenue share. South Asia is expected to emerge as a high-growth market for stakeholders, with India leading the rally.
What are the Key Growth Drivers of Rice Protein Market?
- Ongoing R&D (research & development) activities are revealing scientific evidence on the advantages of plant-based ingredients, such as rice protein. Consumers looking for a nutritious, plant-based diet are viewing rice protein as a feasible option.
- Growing appetite for unique value-added characteristics of food is changing consumers’ approach towards the ingredient list and nutritional table of food products. This is driving food manufacturers to adopt innovative proteins and introduce healthier products to meet the dynamic nutritional requirements of the health-conscious consumer base.
- With the increasing prevalence of lifestyle diseases, including obesity, consumer demand for high-protein food products has soared, creating significant opportunities for companies.
- Veganism is going mainstream with increasing consumer belief that ‘natural is healthier’. This has upped the demand for natural ingredients in a range of food and beverage products.
What are the Key Challenges in the Rice Protein Market?
- Unlike animal proteins, rice proteins lack basic functional properties required to achieve the optimal nutrient profile and taste in high-protein food products. Formulation challenges associated with the applications of rice protein may trigger end-users to adopt its alternatives.
- Rice proteins are generally considered incomplete proteins due to the absence of essential nutrients, such as amino acids methionine and cysteine, which is limiting their applications.
- The risk of dry or gritty texture and flavor off-notes with the use of plant-based proteins in various food products is driving food manufacturers away from plant proteins.
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Analysts have considered the most important aspects of the research methodology to assess growth of the rice protein market during the forecast period 2018-2028. Actionable insights obtained from industry experts in rice protein market have been extrapolated and industry-validated information about the competitive landscape of the market has enabled analysts to come up with this insightful study on rice protein market. A comprehensive list of sources for primary research and secondary research used to reach important insights on the growth prospects of rice protein market is provided in the study. The systematic approach towards rice protein market research adopted by analysts to gather important information about the market as well as the growth avenues for manufacturers, investors, distributors, and other stakeholders in rice protein market.
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