Red Yeast Rice Market Set to Grow at 9.3% to $938.88 Million

Red Yeast Rice Market Size Worth $938.88 Million By 2032 | CAGR: 9.3%


The global red yeast rice market size is expected to reach USD 938.88 million by 2032, according to a new study by Polaris Market Research. The report “Red Yeast Rice Market Share, Size, Trends, Industry Analysis Report, By Application (Pharmaceutical, Herbal Supplement, Dietary Supplement, Functional Food, Cosmetics, and Others); By Product Type; By Sales Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The continuously growing demand for natural food colors that are produced through natural or plant-extracted solutions and constantly rising research & development activities for red yeast rice application in the food sector as an effective supplement and replacement for synthetic products and pharmaceuticals due to its medicinal properties and other advantages, are among the major prominent factors fostering the demand and growth of the market over the years.

  • For instance, in June 2023, Sanofi Consumer Healthcare, announced that they are working with AB-BIOTICS in order to launch probiotics delivering benefits beyond the gut health across South Korea. The launch from the mentioned partnership will be sold under the supplement brand Cenovis with product named Superbiotics Cholesterol.

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In recent years, there has been a significantly rising utilization of the products for the production of alcoholic beverages and several fermented food products, coupled with the growing adoption of nutritional and sustainable diets by consumers looking to adopt healthier lifestyles because of the growing prevalence of the mental health issues like stress all over the world, has been positively impacting the market growth at a rapid pace.

Furthermore, leading product manufacturers are developing enhanced formulations by combining red yeast rice with other natural ingredients that are well known for their health benefits, such as coenzyme Q10, omega-3 fatty acids, and plant sterols, mainly aimed to provide a more comprehensive approach to heart health, which in turn, creating huge growth potential for the market in the near future.

Red Yeast Rice Market Report Highlights

  • Dietary supplement segment accounted for noteworthy share, owing to growing consumption of various types of dietary supplement worldwide
  • Capsule & tablet segment held the substantial market share, mainly due to widespread availability of capsule type red yeast rice and their advantageous characteristics
  • E-commerce segment will growth at significant pace, mainly attributable to surge in the number of digital buyers and emergence on online shopping platforms
  • Europe region dominated the global market, on account greater consumption of product because of its numerous health advantages over synthetic products
  • The key market players include NOW Health Group, Plamed Green Science Group, The Bountiful Company, Purelife Bioscience, and Jarrow Formulas

Polaris Market Research has segmented the red yeast rice market report based on application, product type, sales channel, and region:

Red Yeast Rice, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Pharmaceutical
  • Herbal Supplement
  • Dietary Supplement
  • Functional Food
  • Cosmetics
  • Others

Red Yeast Rice, Product Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Capsule & Tablet
  • Powder Extract
  • Liquid

Red Yeast Rice, Sales Channel Outlook (Revenue - USD Million, 2019 - 2032)

  • Supermarket
  • Specialty Store
  • Pharmaceutical Store
  • E-commerce
  • Others

Red Yeast Rice, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Red Yeast Rice Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 422.77 million

Revenue forecast in 2032

USD 938.88 million

CAGR

9.3% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments covered

By Application, By Product Type, By Sales Channel, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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