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The Asia-Pacific rice protein market is expected to grow at a CAGR of 10.18% to reach a market size of US$46.329 million in 2027, up from US$23.505 million in 2020. Protein is an important micronutrient responsible for the growth and development of the body’s muscles during childhood, adolescence, pregnancy, or old age. Rice protein is a plant-based protein and is a rich source of amino acids, Vitamin B, and Vitamin E. Essentially, rice protein causes no allergic responses and is easy to digest as it is free from dairy, soy, or wheat. In recent times, a large number of people are shifting to plant-based diets owing to concerns related to their health and the environment. Being a key source of protein for vegans, it is expected to face rising demand throughout the forecast period. Rice protein comes with high nutritional value; stabilizes the blood sugar level and reduces the rate of absorption of high-carb meals. As far as the environment is concerned, rice protein can be called a friendly and sustainable alternative to other sources of protein like whey protein, which puts heavy pressure on the environment in the production process.
Developments in fitness measuring devices along with investments by more experiential food brands are a major demand driver for the growth of the rice protein market in the Asia-pacific region.
Advancements in body tracking technologies, in combination with biological knowledge, are shaping the dietary patterns of people in the Asia-Pacific region. Keeping track of the intake of calories and nutrients is increasing the demand for foods that serve the customer’s specific needs. New players, with the help of large investors, along with the already existing major players are launching plant-based foods with high protein-based ingredients. In January 2019, India’s leading vegan meat-producing startup Good Dot added to its offering of plant-based meats “Good Gurber”, a meatless version of the chicken burger. This startup received funding from VC fund New Crop Capital, which has also invested in Beyond Meat. In March 2019, BASF launched PeptAIde, a post-workout nutrition ingredient made up of brown rice, in China and the Asia-Pacific region.
Geographically, China is anticipated to see the market for rice protein to grow at the fastest rate.
The rising urbanization and disposable incomes, coupled with the increased adoption of vegan foods, are expected to fuel the demand for the rice-protein market in this region. Although the conventional drivers of the economy of China, manufacturing, and exports, are grappling due to trade wars, and widespread pandemics, the consumers remain resilient and confident with an increasing Consumer Confidence Index that reached an all-time high in December 2019. Urban areas and younger people are mostly responsible for driving consumption. Additionally, the inclination towards a healthier lifestyle, especially healthier diets, is showing up at a rapid rate due to the rise of a plethora of endemic and communicable diseases through the alleged consumption of animal foods. Consumption has also risen due to increased spending on quality products. As a result, China is expected to witness the highest growth rate in the rice protein market.
India, on the other hand, is anticipated to grow at a steady rate in this market due to low awareness. Nevertheless, urbanization followed by the changing lifestyles of the population is changing the consumption patterns of the population. A fitness trend, in conjunction with a new definition of adulthood, is enabling consumers to adapt to a healthier life. With growing cases of chronic diseases and malnutrition, consumers are becoming aware of new alternatives to maintaining a balanced diet. The availability of a sizable vegetarian population is also anticipated to fuel India's need for rice protein.
Key Developments:
The Asia Pacific market for rice protein has been severely impacted by the COVID-19 epidemic. The supply chain was interrupted as a result of COVID-19's prolonged persistence. The production of rice protein was discontinued because it was difficult to supply the manufacturers with the necessary raw materials. End-users of rice protein, including those in the sports and energy nutrition, bakery and confectionery, beverages, and dairy substitute industries, anticipate a decline in the market during the COVID-19 pandemic because of the movement of restrictions, de-globalization, loss of income, restrictions on product import and export, restrictions in the supply of raw materials, among other factors. All of these elements have had a detrimental effect on the market supply chain. The worldwide market for rice protein has been severely impacted by the COVID-19 epidemic. The supply chain was interrupted as a result of COVID-19's prolonged persistence. The production of rice protein was discontinued because it was difficult to supply the manufacturers with the necessary raw materials.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2020 | US$23.505 million |
| Market Size Value in 2027 | US$46.329 million |
| Growth Rate | CAGR of 10.18% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Source, Product-Type, Application, Distribution Channel, And Country |
| Regions Covered | China, Japan, South Korea, India, Thailand, Taiwan, Indonesia, Others |
| Companies Covered | Axiom Foods, Inc.[1], BENEO-Palatinit GmbH, Golden Grain Group, Jiangxi Golden Agriculture Biotech Co., Ltd., Sahfi Gluco Chem Pvt. Limited |
| Customization Scope | Free report customization with purchase |
Market Segmentation: