(I-BusinessNews.Com, August 20, 2020 ) The global protein ingredients market size is estimated to be valued at USD 52.5 billion in 2020 and projected to reach USD 70.7 billion by 2025, at a CAGR of 6.1% during the forecast period. This is attributed to the increase in 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.
DRIVER: Increasing demand for proteins as nutritional and functional ingredients
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 the end-user industries such as cosmetic & personal care, protein ingredients are primarily used for their conditioning and moisturizing properties in the hair and skin care industries. In major applications such as food & beverages, the use of protein ingredients continues to grow with the increasing demand for improved functionalities. The ability of protein ingredient manufacturers to design and develop specific isolates, concentrates, and other forms of protein ingredients for dairy products, beverages, dietary supplements, infant formula, bakery products, confectionery, and other food products is likely to drive the growth of the protein ingredients market during the forecast period.
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The dry segment is estimated to be the largest in 2020
The protein ingredients market, by form, is estimated to be dominated by the dry segment. The process of formulating dry proteins is relatively easier for high volume manufacturing. It is easier to handle and transport dry proteins, as compared to the liquid form. Manufacturers prefer dry protein ingredients due to their greater stability, ease of handling & storage, and convenience of usage in a wide range of products.
The animal segment is projected to dominate the market by 2025
The protein ingredients market, by source, is projected to be dominated by the animal segment during the forecast period. 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.
The Asia Pacific is projected to be the fastest-growing during the forecast period
Asia Pacific is the fastest-growing region in the global protein ingredients market. The market in the region is driven by an increase in population growth, especially in countries such as China and India. Further, a rise in demand for healthy food products having a high nutritional value such as soy, wheat, and vegetable protein is driving the market in this region.
This report includes a study of the marketing and development strategies used, along with the product portfolios of leading companies. It consists of the profiles of leading manufacturers such Cargill (US), ADM (US), DuPont (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), AGRANA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), and Burcon Nutrascience (Canada).
Mr. Aashish Mehra