Oryzenin Market Booms Amid High Demand for Plant-Based Proteins
The global stock market today is booming, driven by a surge in demand for plant-based proteins. This market is projected to reach USD 584.2 billion by 2033, growing at a CAGR of 12.0% from 2024. Key players are investing in partnerships and innovations to tap into this lucrative sector.
Food, particularly whole foods, is finding diverse use cases. It's a key ingredient in plant-based foods and beverages, dietary supplements, animal feed additives, nutraceuticals, and even cosmetic formulations. Its market growth is fuelled by the rising popularity of plant-based diets and the expansion of functional foods and beverages. Emerging markets and the pet and animal feed industry also present significant opportunities.
However, the market faces challenges. Limited consumer awareness, higher production costs, taste and texture issues, and supply chain limitations are hurdles that need to be overcome. Despite these, companies like AIDP, Inc., Axiom Foods, Inc., BENEO GmbH, Bioway (Xi'an) Organic Ingredients Co., Ltd., and Golden Grain Group Limited are forging ahead with investments and innovations.
The stock market's future looks promising, with technological advancements improving the protein's quality and functionality. As consumers shift towards plant-based options and sustainability becomes a focus, the demand for food is set to rise. Despite current challenges, the market is expected to grow significantly, reaching approximately USD 584.2 billion by 2033.
