Market Trends of united states rice protein Industry
Plant protein consumption growth fuels opportunities for key players in the ingredients sector
- The per capita consumption rate of plant proteins is increasing at a considerable rate in the United States, supported by investments and innovations, resulting in a consumption rate of 40.28 grams per day, primarily due to a rising number of consumers turning vegan to promote animal welfare. This is because factory farming, where animals are maltreated, is a norm in the United States. Most Americans eat less meat and animal products, but they do not eliminate their consumption entirely. They also tend to be more flexitarian than vegan or vegetarian. Nearly 12% of consumers in the country prefer a plant-based diet, whereas 7% of consumers follow a flexitarian diet. Although consumers of all generations in the United States are interested in plant-based meals, individuals in their 20s and 30s are the keenest to adopt plant-based diets.
- There is a constant rise in the per capita consumption of pea protein due to its wide applications in different food products, like meat, poultry, and bakery products. Around 41% of consumers are interested in plant-based food derived from pea protein. The usage of pea protein is mainly observed in sports nutrition and meal replacement applications. A typical serving of pea protein powder is 30 grams, with 25 grams of protein recommended to consumers.
- Soy and whey proteins are used primarily in the food and beverage, supplement, and sports nutrition industries. In 2021, around 36% of consumers were familiar with soy protein and had consumed the same, whereas 31% of individuals consumed whey protein in the United States. Similarly, the consumption of soy-based food and beverages favorably increased by 12.9% during 2014-2019, and it is likely to remain consistent throughout the forecast period.
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Increase in rice production to support rice protein processors
- There is a trend of changing dietary preferences globally and a low inclination among US consumers toward meat-based products. The growing percentage of consumers becoming more flexitarian or vegan is offering enough opportunities for manufacturers to introduce and innovate in the plant protein segment. As of 2021, nearly 6% of the total population was vegan in the United States.
- Rice protein isolates and concentrates are increasingly being produced from rice bran. Also, functional foods, particularly dietary supplements, are emerging as one of the largest application areas of rice protein, as manufacturers are embracing the blending approach for plant protein-based products. The United States is a timely supplier of high-quality rice in both the long and combined medium and short-grain global market, accounting for less than 2% of the global rice production. Since 2019/20, the United States has imported more than 13% of its entire rice supply, up from 10% from 2014/15 to 2018/19. In terms of export, India is the top exporter of rice, accounting for over 46% of the country, i.e., more than 21 million ton in 2021.
- In 2021, the United States produced 191.8 million hundredweight (CWT) of rice, down 16% from 2020 but still slightly above the 2019 crop. In the United States, long-grain production accounts for 75% of rice production, medium-grain production for 24%, and short-grain for the remainder. There is likely to be increased adoption of rice protein in various industries, such as the pharmaceutical industry (for therapeutic proteins or peptides), the animal feed industry (for poultry and other animals), and the cosmetics industry (for cosmetic and personal care products).
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Baby food to witness steady growth post pandemic
- Innovation holds key to maintain steady growth rate
- Consumers' preferences shift to premium condiments and sauces, away from packaged soups
- Dairy alternatives to witness significant growth rate
- Great opportunities for meat alternative products
- Key players focusing more on healthy ingredients post COVID-19
- Rising us feed exports and feed prices are expected to impact production
- Increase in rice production to support rice protein processors
- The growth of the bakery industry is led by large commercial players
- Sustainable and innovative packaging trends to influence breakfast cereals market
- Key players to focus fortification and nutritional enrichment
- Emphasizing awareness and innovation; driving force behind elderly nutrition market growth
- E-commence will emerge as one of the most preferred channels
- Sport/performance nutrition to witness significant growth during forecast period
- United States cosmetic industry to drive by synergy of innovation and social media influence
