(I-BusinessNews.Com, November 11, 2020 ) The protein hydrolysates market is estimated to be valued at USD 2.74 billion in 2018 and is projected to reach USD 4.13 billion at a CAGR of 8.56% from 2018 to 2023. The rising demand from the infant nutrition application, rising consumer preference for healthy diets, and the increasing incidences of protein deficiency among consumers are some factors driving the growth of the protein hydrolysates market.
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Key market players adopted strategies such as expansions & investments, acquisitions, partnerships, mergers, joint ventures, agreements, and new product launches, to meet the growing demand for protein hydrolysates. Major players such as Abbott Laboratories (US), Koninklijke DSM N.V. (Netherlands), Kerry Group (Ireland), FrieslandCampina (Netherlands), and Arla Foods (Denmark), collectively accounted for a majority of the global protein hydrolysates market. Other players in the market include Tate & Lyle plc (UK), Archer Daniels Midland Company (US), Glanbia plc (Ireland), Danone Nutricia (Netherlands), AMCO Proteins (US), Hilmar Ingredients (US), Roquette FrÃ¨res (France).
Abbott Laboratories is one of the leading manufacturers and marketers of protein hydrolysates. The company is known globally for broad-based healthcare services. It focuses on launching new products in recent years. In April 2018, Abbott introduced Ensure Max Protein Â a 150-calorie nutrition drink with 30 grams of high-quality protein and 1 gram of sugar. In June 2016, Abbott launched new EAS protein shakes, powders, and bars to fuel athletic lifestyles. This helped the company to expand its product portfolio.
FrieslandCampina is another leading player in the market due to its strong global presence. It offers protein hydrolysates under two brands, namely, Domo and DMV. It adopted investment as its key strategy to increase its brand value. In November 2017, FrieslandCampina announced an investment in its core brands, Landliebe, Tuffi, and Frico, in the DÃ¼sseldorf area.
The Asia Pacific region is estimated to be the fastest-growing region, in terms of both value and volume, in the global protein hydrolysates market, during the forecast period. This region comprises of developing economies such as China, India, Malaysia, and Singapore amongst others which are amongst the fastest growing markets for protein hydrolysates in the Asia-Pacific region. The increase in population and per capita income in China and India, clubbed with increasing preference for protein hydrolysates product is expected to drive the demand positively from end-user market includes manufactures animal feed, clinical nutrition, and infant nutrition. China protein hydrolysates market is projected to grow at the highest rate among the Asia Pacific countries during the forecast period.
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