Market Trends of North America Rice Protein Industry
This section covers the major market trends shaping the North America Rice Protein Market according to our research experts:
Increasing 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.
