The global protein ingredients market was worth US$ 31 Billion in 2017. The market is further projected to reach a value of US$ 43 Billion by 2023, exhibiting a CAGR of 6% during 2018-2023. Protein ingredients consist of amino acids which are required for maintaining the optimum protein level in the human body. These ingredients can be acquired from different sources, such as plants or animals, and help in repairing damaged cells. They also aid in regulating weight, improving physical strength, lowering muscle loss caused by aging, and mitigating the risk of chronic diseases. As a result, protein ingredients are widely used in the production of food and beverages, personal care products, cosmetics and pharmaceuticals.
Global Protein Ingredients Market Drivers/Constraints:
- A surge in the cases of health-related issues has encouraged the consumers to opt for functional foods that contain high amounts of proteins and other vital nutrients. This is further supported by the availability of vegan, vegetarian and gluten-free product variants, which cater to the individual requirements of the consumers.
- The rising fitness trend among the health-conscious consumers coupled with the role of protein-rich foods in muscle building and weight management are stimulating the market growth.
- With changing lifestyles, the preparation of conventional protein-rich products has become a difficult task. As protein ingredients can be prepared easily and consumed on-the-go, they are increasingly being used by the consumers.
- The uncertainties regarding raw material prices along with stringent rules and regulations imposed by different authorities, such as the Food and Drug Administration in the US, are the major factors that can hamper the growth of the protein ingredients market.
Breakup by Product Type:
Based on type, the market has been segmented into animal and plant proteins. Amongst these, animal proteins are the most popular product type, accounting for the majority of the global share. Animal proteins are further categorized as egg protein, whey protein, gelatin, casein and milk protein concentrates/isolates. On the other hand, plant proteins are classified as wheat protein, soy protein, pea protein and others.
Breakup by Application:
On the basis of application, food and beverage represents the largest segment owing to the huge demand for dietary supplements, and functional food and beverages. This segment is followed by the personal care and cosmetics, pharmaceuticals and animal feed segments.
Region-wise, Europe enjoys the leading position in the global protein ingredients market, holding the largest share. This can be accredited to the increasing demand for protein ingredients in the sports nutrition segment and an expanding market for weight management. Other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.
The global protein ingredient industry is fragmented with the presence of a large number of global and regional manufacturers. Some of the leading players operating in the market are:
- Cargill, Inc.
- Archer-Daniels-Midland Company
- Kerry Group
- Omega Protein Corporation
- Mead Johnson
This report provides a deep insight into the global protein ingredients market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the protein ingredients market in any manner.
Key Questions Answered in This Report:
- How has the global protein ingredients market performed so far and how will it perform in the coming years?
- What are the key regions in the global protein ingredients market?
- Which are the popular product types in the global protein ingredients market?
- What are the key application segments in the global protein ingredients market?
- What are the various stages in the value chain of the global protein ingredients market?
- What are the key driving factors and challenges in the global protein ingredients market?
- What is the structure of the global protein ingredients market and who are the key players?
- What is the degree of competition in the global protein ingredients market?
- How are protein ingredients manufactured?