DUBLIN–(BUSINESS WIRE)–The “Africa Rice Protein Market 2022-2027 – Size, Trends, Competitive Analysis and Forecasts” report has been added to ResearchAndMarkets.com’s offering.
The African protein industry is in the nascent stage, but with the growing trend of leading a healthy and green lifestyle, the protein market is estimated to grow rapidly in the coming years.
Presently, the rice protein industry holds just 2% of the global rice protein market. However, gradual growth in income of the population, rising urbanization, and consequent modernization will drive the rice protein market in the region. The market revenue of rice protein in Africa is recorded at $26.35 million in 2021, which is projected to capture the value of $35.67 million by 2027, growing at a CAGR of 4.0% from 2022 to 2027.
The South African rice protein market leads in terms of market revenue; it also presents huge growth potential for major companies. The Government of South Africa mainly supports foreign investment; hence many major rice protein producers are planning to expand in the country to capture early market share. The major drivers of the rice protein industry in the country are the increasing adoption rate of the vegan and vegetarian population, growing demand for natural and organic ingredients containing food and beverage products, and growing concern about the health problems due to excessive consumption of meat-based products.
The rice protein market in Nigeria and Egypt possess similar attributes in terms of drivers, restraints, opportunities, and market revenue. Both these countries have rising population shifting from low to moderate incomes. This has majorly benefited the food and beverage industry, as the demand for high-quality and organic products has been rising.
The rice protein industry in both countries has low market share compared to other protein sources such as soy, pea, and whey protein. All these alternative protein markets are growing rapidly, posing major restrain to the rice protein market. Nevertheless, considering the positive impact of macro-economic factors and the rapid development of manufacturing industry in the African countries, the rice protein market has immense potential to develop in the coming years.
Key Deliverables
- Market trends since 2018 and five-year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments and countries
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects, and competition pattern
- Insights on the growth potential of the market in key countries
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Market Dynamics
Drivers
- Growing Demand for Cheaper Sources of Plant-Based Protein
- Rising Health Consciousness Especially in Developing Countries
- Increasing Demand for Lactose-Free, Gluten-Free Protein Products
- Strengthening Demand for Dietary Supplements
Restraints
- Lack of Commercially Feasible Extraction Process
- Growing Threat from Substitute Products
- Low Awareness About the Product
Opportunities
- Growing Applications in Sports Nutrition & Weight Management
- Growth in Functional Food & Nutraceutical Industry
Companies Mentioned
- AIDP, Inc.
- Axiom Foods, Inc.
- Beneo-Palatinit GmbH
- Bioway (Xi’an) Organic Ingredients Co., Ltd.
- Golden Grain Group Limited
- Jiangxi Golden Agriculture Biotech Co., Ltd.
- North Coast Naturals
- Nutribiotic
- Shaanxi Fuheng (FH) Biotechnology Co., Ltd
- Shafi Gluco-Chem (Pvt.) Ltd.
- The Green Labs LLC
- Z-Company
- Kerry Inc.
For more information about this report visit https://www.researchandmarkets.com/r/tifwpl
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