Red Yeast Rice Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Red Yeast Rice Market: Introduction

Red yeast rice contains multiple bioactive substances, as it is made by fermenting process with a type of yeast known as Monascus purpureus. Red yeast rice contains a compound known as monacolin K that has been proven to lower cholesterol levels, and is often utilized as a medical product. Moreover, traditional medicine powder form of red yeast rice is also used as a dietary supplement, which in turn increases demand for red yeast rice market. The gradually increasing health issues such as blood pressure, indigestion and cholesterol, among young adults, due to change in lifestyle and eating habits is leading to increasing consumption of red yeast rice-based oral supplements.

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Integrative Medicinal Properties Supports Market Growth

Demand for red yeast rice is primarily driven across the world due to its wide range of applications as health products and food additives. The number of increasing chronic diseases due to change in eating habits of consumers is boosting market growth. Therapeutic applications of red yeast rice involves lowering of cholesterol drug lovastatin in human body. In addition, red yeast rice is also used as food additives in regional markets such as Asian countries and U.S. as it helps in treating digestion related health issues.

Further, the red yeast rice which is used as dietary supplements helps to lower body cholesterol levels in human beings. However, the fungi used in the production of end-product has a negative effect. Red yeast rice may lead to the production ‘citrinin’ toxin in human body, which causes kidney related health diseases. This factor is challenging the growth of red yeast rice market on a global level.

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Red Yeast Rice Market: Segmentation

The red yeast rice market is segmented on the basis of type, application, and sales channel.

On the basis of type, the global Red Yeast Rice market is segmented as-

• Powder
• Capsules & Tablets
• Liquid  

On the basis of application, the global red yeast rice market is segmented as-

• Pharmaceuticals
• Herbal Supplements
• Dietary Supplements
• Functional Foods

On the basis of Sales Channel, the global red yeast rice market is segmented as-

• Stored Based Retailing
  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Discount Stores
  • Wholesale Stores
  • Other Retail Formats
• Online Based Retailing

Red Yeast Rice: Key Players

Some of the prominent players identified in the red yeast rice Market includes: Qingdao BNP Co. Ltd., Zhejiang Sanhe Bio-tech Co Ltd., Now Health Group Inc., Zenith Food Solutions Private Limited., Solgar Inc., Weider Global Nutrition, Wakunaga Pharmaceutical Co. Ltd., BioScience Nutrition, Nutraceutical Corporation and many others. Some of the local regional level players are also showing keen interest in red yeast rice market as it has wide application in food and pharmaceutical industry.

• Uni-TongXIn Biotech Co., Ltd., offering natural red yeast rice plus nattokinase capsule to lower cholesterol and reduce low-density lipoprotein (LDL).

Red Yeast Rice: Opportunities

There are certain side-effects of statin-based red yeast rice. Initially, companies started offering statin based red yeast rice for statin therapy, which in turn left patients at a high risk of cardiac arrests. The sole reason for this effect was the toxicity of statin based red yeast rice for therapy. Today, companies are offering statin-free red yeast rice with no side effects. Companies use laboratory equipment to test therapeutic red yeast rice for the presence of alanine aminotransferase and aspartate aminotransferase, which cause liver damage. After confirming the absence of these enzymes, the red yeast rice is marketed for therapeutic applications. Marketing statin-free red yeast rice for therapeutic applications is one of the key opportunities in the global market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.