The global protein ingredients market size is projected to grow from USD 49.8 billion in 2019 to USD 70.7 billion by 2025, at a CAGR of 6.0% during the forecast period. The protein ingredients market is driven by factors such as the increasing demand for protein functionalities, awareness about healthy diet & nutritional food, new technological development in the protein ingredients industry, growth in demand for superior personal care and healthcare products, and increase in consumption of animal by-products, which are in turn supported by the economic growth, technological advancements, and consumer preference for functional products. However, factors such as stringent government regulations on animal-sourced protein are expected to restrain the market growth of animal protein.
- Determining and projecting the size of the protein ingredients market, with respect to type, livestock, form, source, and regional markets, over a six-year period ranging from 2019 to 2025
- Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
- Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- Analyzing the micromarkets, with respect to individual growth trends, future prospects, and their contribution to the total market
- Identifying and profiling key market players in the global market
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Increasing demand for proteins as nutritional and functional ingredients is driving the market
Protein ingredients sourced from both animals and plants are well-known for their emulsification, gelation/viscosity, water-binding/hydration, foaming, aeration properties; other attributes of protein ingredients include thickening ability, stabilizing ability, and solubility. These functionalities, along with nutritional aspects of proteins, are a major advantage to end-user industries, and are, thus, one of the major market drivers. Another advantage associated with protein sources used for specific functional properties is that they are often less price-sensitive than those that are used only for their nutritional properties. This often benefits the end-user industries with cost advantages. In major applications such as food & beverages, the use of protein ingredients continues to grow with the increasing demand for improved functionalities
Demand based price fluctuations are a major challenge for players in protein ingredients market
Even though the prices of soy proteins are comparatively lower than most of the proteins, the supply can prove to be a significant factor in price escalation. The raw material for soy protein ingredients is soy meal, which is also highly demanded by the feed industry. Unless there is no drop-in cultivation area under soybeans, the supply is expected to remain unfazed for both feed and protein manufacturers.
The animal source is projected to account for the largest market share during the forecast period.
The protein ingredients market has been segmented, on the basis of source, into animal and plant source. The animal source is projected to be the largest segment in the protein ingredients market. This is attributed to the diverse flavor profile and nutrition-rich attribute as compared to the plant-based protein. Further, their rising demand for applications in sports nutrition, infant nutrition, and geriatric nutrition, influenced by lifestyle and demographic shifts, is a key market driver.
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Asia Pacific is projected to be the fastest-growing region during the forecast period.
Asia Pacific is projected to be the fastest-growing region during the forecast period. The market in the region is driven by increase in population growth especially in countries such as China and India. Further, rise in demand for healthy food products having high nutritional value such as soy, wheat, and vegetable protein is driving the market in this region.
Major vendors in the protein ingredients market include Cargill (US), ADM (US), DowDuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), Friesland (Netherlands), Fonterra (New Zealand), Arla Foods (Denmark), AMCO (US), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGARNA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), and Burcon Nutrascience (Canada).
Key Questions Addressed by the Report:
- Who are the major market players in the protein ingredients market?
- What are the regional growth trends and the largest revenue-generating regions for the protein ingredients market?
- Which are the major regions for different industries that are projected to witness a significant growth for the protein ingredients market?
- What are the major types of protein ingredients that are projected to gain maximum market revenue and share during the forecast period?
- Which is the major type of source where protein ingredients are used that will be accounting for the majority of the revenue over the forecast period?