Rice Protein in Baking Goods is Projected to Give Impetus to Baking Goods & Baking Mixes Segment

UNITED STATES, January 12, 2022 /EINPresswire.com/ -- There has been a bearish trend in global demand for rice protein with the continuing restrictions on mass meetings and major events due to Covid-19. Nevertheless, consumption of food products infused with protein is high in demand as many media houses actively promote the benefits of protein-infused food to boost one’s health. In this regard, rice protein is experiencing high demand. Yet rice protein producers have narrowed down production due to uncertainties in the existing supply chain owing to COVID-19 pandemic. While in the first week there was a 10-15% rise in demand with consumers hoarding protein products, demand for rice protein from end-products manufacturers has been decreasing steadily from the second week onwards.

Baking Goods & Baking Mixes segment is expected to retain its dominance within the global rice protein market in terms of revenue, and is projected to create an absolute opportunity of over US$ 5 Bn, growing at a CAGR of 8.1% during the forecast period (2020-2030).

Baking goods & Mixes are being employed heavily in the baking industry to produce ready-to-eat products. Such ingredients improve the color, length, texture, softness of the taste and other properties of the food products.

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Europe Leads Regionally in Rice Protein Market
Europe is the leading market for rice protein, accounting for more than 1/3rd of the total share. Increasing demand from food processing industry has been one of the driving factors for rice protein market. Investments in certifications and labels compliant with European standards and end use requirements is expected to supplement growth of rice protein.

Investments to open production facilities in top rice producing countries like India, China, and ASEAN countries are expected to be highly beneficial for rice protein manufacturers. Targeting the growing demand of plant protein in Europe is expected to create new revenue streams for rice protein manufacturers. Establishing collaborations with domestic players and suppliers in Europe is expected to bolster the position of companies in rice protein market.

Innovations to Pave Way for Rice Protein in Plant based Protein Market
The global rice protein market is consolidated market with top contender’s holdings more than 40% market share focused on addressing end user needs with rice protein like increase in flow rate, better emulsion and low lump formation.

These top companies have also focused on introduction of innovative products, with an increase in functional properties, and leveraging ‘label claims’ like gluten-free, allergen-free and dairy free among others to meet consumer demand. Some developments include:

• In 2020, Milk Specialties launched their ‘PROriz Brown Rice Protein’ and showcased the product at ‘Natural Products Expo West 2020’. PROriz is aimed to meet multiple requirements for nutrition as well as functional properties like heat stability
• In 2019, Axiom Foods Inc. entered into an agreement with Univar Solutions as a primary distributor and provider for United States. The agreement was aimed at distributing plant based products including rice protein by leveraging the wide distribution network of Univar Solutions

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Impact of Covid-19 on Global Rice Protein Market
Unlike other markets, a change in consumer habits has resulted in increased demand for many other essential food and beverage products. At the same time, manufacturers of rice protein are deciding how best to address potential supply chain disturbances and capacity limitations that may prevent them from meeting changing customer requirements.

In particular, the market for rice protein also faced the drastic impact of the Covid-19 crisis as demand was observed to decrease in January and February during those months relative to demand in 2019.

Under the optimistic scenario, the global market for rice protein is expected to remain squat in the first quarter of 2020 under the strong impact of Covid-19, and demand from the second quarter may once again increase.

Rice Protein Market: Segmentation
Fact MR’s study has done the segmentation of the rice protein market on the basis of product type, source and application, end-use and region.

Product Type
• Polysaccharides
• Oligosaccharides

Source
• Bacteria
• Algae
• Fungi
• Plants
• Other Sources

Application
• Beverages
• Infant Milk Formula
• Bakery & Confectionery
• Dairy Products
• Savory & Snacks
• Animal Feed
• Other Applications

End-Use
• Manufacturing
• Construction
• Mining & Agriculture
• Healthcare
• Services
• Homeland Security & Defense

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Key Long-Term Trends
The global food industry will continue to experience high demand across various regions worldwide. The introduction and adoption of facilities such as food delivery services have propelled the demand, showing an upward trend in the food industry. Some long-term trends in the food industry are:

Plant-based food products
Growing consumer interest in organic and vegan diets will drive rapid expansion in the food industry, allowing various new entrants and existing players to establish a firm foothold in the market.

Combining science with nutrition
Using technology to enhance the quality of food and beverages will drive sales in the food industry. Food products with enhanced nutritional value, sustainability, and ethical impact will continue to accelerate demand in various segments of the food industry across the globe.

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