The North American rice protein ingredients market size is expected to grow from USD 244.73 million in 2024 to USD 290.56 million by 2029, at a CAGR of 3.49% during the forecast period (2024-2029).
Rice protein is widely used across the food and beverage industry across the region. It is used in protein bars, meals, fortified beverages, and other such products. As the region has been witnessing a rise in demand for fortified food and beverages, this trend is expected to drive the demand for rice protein ingredients.
Furthermore, the high-protein trend is gaining a foothold across North America as protein claims on food and drink launches continue its growth path. North American consumers are actively seeking more protein in their meals, beverages, and snacks. Additionally, socioeconomic trends like growing urbanization, rising incomes, and aging populations are ultimately what is driving the increased protein consumption that is resulting from this population rise. Plant-based diets are advised by organizations like the World Cancer Research Fund (WCRF) and the World Health Organization.
Due to the ongoing vegan trend, customers across North America tend to look for plant-based meat and dairy alternative products which could create lucrative opportunities for the rice protein ingredients market across the region. For instance, according to The Good Food Institute, in the year 2022, the sales value of vegan milk was valued at approximately USD 2,800 million whereas the sales of plant-based yogurt were valued at USD 425 million. The ongoing consumer demand for high protein/protein-rich food and beverages is driving the application of rice protein ingredients actively across various end-user food and beverage industries in North America.
The North America rice protein ingredients market is consolidated with the key players controlling the major market shares across the region. The major players in this market are Roquette Frères, Axiom Foods Inc., The Scoular Company, Kerry Group PLC, and Südzucker AG. The majorly adopted strategies used by the key players offering rice protein ingredients across North America include product innovations, partnerships, and mergers & acquisitions. The leading players are focused on expanding their rice protein business in both the local and international markets. Some players have been expanding their geographical presence by acquiring or merging with the international markets' manufacturers. Key ingredient companies have been actively innovating production technologies and delivering ideal proteins for industrial usage.
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