Oryzenin Market - Growth, Trends, and Forecasts (2023 - 2028)

Oryzenin Market - Growth, Trends, and Forecasts (2023 - 2028)

The Oryzenin Market is projected to register a CAGR of 7.05% over the forecast period.

The oryzenin market is one of the emerging markets, with a rise in demand for oryzenin across various industries for its gluten-free properties and other such characteristics. The increased incidences of gluten intolerance and lactose intolerance among consumers across the world have led to the growth of protein alternatives that are gluten-free and lactose-free. Oryzenin or rice glutelin is a rich source of essential amino acids and is especially important because it does not lead to side effects such as celiac disease. According to Ministero della Salute (Ministry of Health of Italy), in 2020, there were 107,123 people with celiac disease in North Italy. Furthermore, 51,714 patients from the South, 50,175 from the center, and 24,675 from the islands of Italy suffered from celiac disease. Such conditions are not only limited to Italy but are spotted across the world, hence creating opportunities for the growth of the oryzenin market worldwide.

With consumers increasingly moving towards a vegan diet, oryzenin presents the right alternative for gluten-intolerant vegan consumers to cater to their daily protein needs. From a manufacturing perspective, rice proteins generally have a lower cost of production and are abundantly available as raw materials. Moreover, oryzenin has better gelling properties and high protein content. The rising awareness regarding healthy and sustainable foods led to an increase in the demand for plant protein-based meat alternatives around the world. Moreover, the popularity of food products with the label ‘free from’ has encouraged consumers to adopt a “clean living” with healthy dietary preferences. Hence, companies like Axiom Foods have been positioning the oryzenin offered by them as non-GMO, gluten-free, low-sodium, etc. These factors have been driving the sales of oryzenin ingredients across various market segments, which are increasingly used as ingredients in products that are perceived as mainstream lifestyle products.

In the past decade, the vegan population has been growing steadily, owing to the rising awareness regarding healthy and sustainable foods, which in turn, increases the demand for plant-based meat alternatives in the global market. According to the Plant-based Food Association, the value of sales of plant-based foods in the United States during the 52 weeks that ended on December 2021 was approximately USD 7.4 billion. As oryzenin is used in the processing of meat substitutes, the growth of meat alternatives has been propelling the market growth.

Although animal sources are rich in protein, the excessive consumption of animal-based products may result in chronic diseases, including obesity, cardiovascular disorder, and diabetes. However, plant-based products have a low level of cholesterol, saturated fats, and calories and are enriched with micronutrients such as calcium and zinc. Thus, the growing consumer consciousness regarding health is increasing the demand for plant-based products, which has led to a surge in demand for plant-based ingredients like oryzenin.

The oryzenin market has witnessed substantial growth across the Asia-Pacific region over the past few years. The various factors contributing to the development of the market studied include the rise in awareness of plant-based meat, dairy alternatives, and other gluten-free products across the major parts of the Asia-Pacific region. According to a survey conducted by the Plant-Based Foods Industry Association and The Good Food Institute, 91% of respondents in the poll on plant-based food awareness among Indian consumers in 2021 were aware of any kind of plant-based milk. In contrast, 66% of customers in India drank plant-based milk in the last year. Also, customers were aware of packaged tofu and vegan cheese, two other widely consumed plant-based foods.

Additionally, the vast production base of raw materials for the oryzenin processing provides lucrative opportunities for companies operating in the market across the region. According to the National Bureau of Statistics of China, rice production in China across various provinces like Heilongjiang, Hunan, Jiangxi, Jiangsu, Hubei, Anhui, and Sichuan was 29.14, 26.83, 20.74, 19.85, 18.84, 15.9, and 14.93 million metric tons respectively in the year 2021. The availability of raw materials in bulk quantity is expected to give the players operating in the market an upper hand in the value chain attracting more players into the market as well as encouraging the existing players to strengthen their portfolio in the oryzenin offering. Hence, various factors like the demand for gluten-free bakery products, meat substitutes, dairy alternatives, and other factors are expected to drive the market during the forecast period.

The oryzenin market is fragmented in nature, with a few players owing to the existence of several regional and local market players. The top players in the market include Kerry Group PLC, Südzucker AG (Beneo GmbH), Axiom Foods Inc., RiceBran Technologies, and The Green Labs LLC. The strategies adopted by the leading players to increase their revenue in the market include product innovations and expansions. Additionally, owing to the growth potential of the market, several players have been trying to enter the market with oryzenin as a part of their product portfolio. Similarly, players are collaborating with distributors across regions to expand their presence as well as a larger consumer base.

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