The North American rice protein market is anticipated to grow at a CAGR of 5.8% over the forecast period. The US and Canada are two major economies contributing to the growth of the North American rice protein industry over the forecast period. The key factor that drives the growth of the market is the inclination of the people towards the adoption of plant-based protein products. The shift of the consumers towards the vegan diet has encouraged the consumers to opt for these plant-based protein products, which in turn, contributed to the growth of the market in the North American region over the forecast period.
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There has been an increase in the vegan population across the region. For instance, as per the survey conducted by Dalhousie University Canada, in 2018, nearly 9.4% of Canadian adults considered themselves vegetarians and the other 0.85 million people consider themselves vegan. These numbers are likely to increase in the near future owing to the rising trends of veganism, which in turn, is likely to contribute to the growth of the market over the forecast period. Besides, the presence of the key players operating in the market also supports the growth of the market, as these products adopt several organic and inorganic growth strategies to thrive in the competitive market over the forecast period.
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Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Form and By End-Use Applications
- Regions Covered- North America
- Competitive Landscape- AIDP Inc., Axiom Foods Inc., NOW Health Group, Nutrition Resource Inc., and RiceBran Technologies
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in base year?
- Which segment will project fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North America Rice Protein Market – Segmentation
By Form
- Isolates
- Concentrates
- Hydrolysates
By End-Use Application
- Food & Beverage
- Animal Feeds
- Pharmaceutical
- Cosmetics
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
