PUNE, India, March 22, 2017 /PRNewswire/ --
The report "Oryzenin Market by Type (Isolates, Concentrates), Application (Bakery & Confectionery, Meat Analogs & Extenders, Sports & Energy Nutrition, Dairy Alternatives, Beverages), Form (Dry, Liquid), and Region - Global Forecast to 2022", published by MarketsandMarkets, is estimated at USD 88.2 Million in 2016 and is projected to reach USD 198.2 Million by 2022, at a CAGR of 14.5% during the forecast period.
Browse 63 market data Tables and 34 Figures spread through 119 Pages and in-depth TOC on "Oryzenin Market"
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The market is driven by factors such as the increasing demand for rice protein due to its functional properties, growth in consumption of plant protein, cost-effectiveness of plant protein as compared to animal protein, and the increasing awareness among consumers towards the importance of protein.
The concentrates segment, by type, is projected to grow at the highest CAGR from 2016 to 2022
The concentrates segment is projected to grow at the highest CAGR during the forecast period. This is due to the fact that it is more cost-efficient as compared to isolates and with further developments in the product specification; hence, the concentrates type is expected to witness an increase in demand over the next few years.
Sports & energy nutrition segment, by application, is projected to dominate the market in 2015
The sports & energy nutrition segment, by application, is projected to dominate the market from 2016 to 2022. This is due to the increase in consumption of sports & energy drinks due to the trend of healthy living among consumers.
The dry segment accounted for largest market share in 2015.
The dry segment, by form, is projected to grow at the highest CAGR from 2016 to 2022. Dry form is easy to handle and can be transported easily with less expenses which has increased the demand of dry oryzenin powder. In addition, liquid form needs further processing to be extracted from dry form thus increasing the investment.
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Europe is projected to grow at the highest CAGR from 2016 to 2022
The rapid growth of economies in Europe has led to the increase in demand for protein. This factor has resulted in the growth of low-cost protein sources such as vegetable proteins that can be used as substitutes for other protein ingredients. European consumers are emphasizing more on healthier lifestyles; hence, protein product manufacturers need to focus on reducing consumer fears concerning its allergies and safety issues. Gluten is found to cause allergies and it has been estimated that up to 90% of protein in wheat is gluten. Amongst northern European consumers, 30% carry genes for gluten intolerance. This creates tremendous opportunity for other sources of proteins which are free from gluten such as rice protein.
The Oryzenin Market report includes a study of development strategies, along with the product portfolios of the leading companies in the oryzenin market. The key companies profiled are Axiom Foods, Inc. (U.S.), AIDP Inc. (U.S.), RiceBran Technologies (U.S.), Kerry Group plc (Ireland), and BENEO GmbH (Germany). The other players of the Oryzenin Market are Ribus, Inc. (U.S.), Green Labs LLC (U.S.), Golden Grain Group Limited (China), Shaanxi Fuheng (FH) Biotechnology Co., Ltd. (China), and Bioway (Xi'An) Organic Ingredients Co., Ltd. (China).
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