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Protein Ingredients Market To Witness Commendable Growth At 10.5% CAGR By 2028, Owing To Rising Consumer Awareness Regarding Maintaining Healthy Diet | Grand View Research, Inc.

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Protein Ingredients Market To Witness Commendable Growth At 10.5% CAGR By 2028, Owing To Rising Consumer Awareness Regarding Maintaining Healthy Diet | Grand View Research, Inc.

May 31
05:15 2022
Protein Ingredients Market To Witness Commendable Growth At 10.5% CAGR By 2028, Owing To Rising Consumer Awareness Regarding Maintaining Healthy Diet | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, increasing consumption of food products, such as margarine, cold cuts, bakery products, spreads, yogurt, and milk sausages, among health-conscious & elderly consumers is fueling the global protein ingredients industry growth.

Protein Ingredients Industry Overview

The global protein ingredients market size was valued at USD 38.5 billion in 2020 and is expected to reach USD 85.5 billion by 2028, expanding at a compound annual growth rate (CAGR) of 10.5% during the forecast period.

The market is gaining momentum and witnessing a high demand owing to rising demand for food products, such as margarine, cold cuts, bakery products, spreads, yogurt, and milk sausages, which are produced using protein ingredients. Increasing consumption of these products among health-conscious and elderly consumers is also fueling the market growth. Moreover, a rise in the innovation of several proteins by various manufacturers that constitute a wide range of amino acids and perform specific functions, including satiety, muscle repair, weight loss, and energy balance, is expected to present immense growth opportunities for the market.

Gather more insights about the market drivers, restrains and growth of the Global Protein Ingredients Market

The U.S. market has witnessed a considerable increase in the consumption of animal-based products in the recent past. Animal protein is expected to witness further growth over the next few years in the country. Momentous demand for these products derived from animal sources in the domestic market is expected to ascend the product demand in the U.S. The supply chain initiatives undertaken by the ingredient manufacturing companies to strengthen the distribution of products are further expected to drive the market over the forecast period.

U.S. protein ingredients market size, by product, 2018- 2028 (USD Billion)

 

Plant-based ingredients are manufactured from crops, including soy, canola, wheat, and pea. Soy protein has been growing at a significant rate and has had the largest share in the plant-based category. It is expected to expand at a high compound annual growth rate over the forecast period. Additionally, the Food and Drug Administration (FDA) authorized a health claim for the reduction of LDL cholesterol through dietary guidelines suggesting four servings of soy per day to help reduce the LDL cholesterol level by 10% in the body.

Product innovations and technological advancements are expected to be the major factor for the expansion of the market over the forecast period. Protein ingredients are now being used in diverse applications, for instance, isolates have high dispersibility and very fine particle size due to which they are widely used in dairy applications. Consumers’ belief in the health benefits associated with these products has been the key driver for this market over the past few years and the trend is anticipated to continue over the forecast period.

 

Protein Ingredients Market Segmentation

Based on the Product Insights the market is segmented into Plant Proteins, Animal/Dairy Proteins, Microbe-based Proteins, Insect Proteins

  • Animal-based proteins led the market and accounted for more than 70.0% share of the global revenue in 2020. Numerous health benefits offered by animal protein ingredients have been supported by strong scientific evidence and recognized by the government food regulatory institutions.
  • Plant proteins are relatively inexpensive compared to animal-derived variants, which is expected to fuel the growth of the plant segment over the forecast period.
  • The demand for micro-based proteins is increasing due to the growth in animal feed applications over the past few years. The number is likely to grow over the next few years, resulting in the growth of the microbe-based proteins segment as it is a key ingredient supplying overall nutritive value and high-quality amino acids to the aquaculture sector.
  • Protein ingredients derived from insects, such as crickets, have found widespread applications, including bars. The protein from insects is typically used in powder form to enhance nutritional value as well as add flavor to the bars.

 

Based on the Application Insights the market is segmented into Food & Beverages, Infant Formulations, Clinical Nutrition, Animal Feed, Others

  • The food and beverages application segment held the largest revenue share of over 40.0% share in 2020. Whey protein ingredients are an economical source of protein and are therefore extensively used in the bakery and confectionery industry.
  • The infant formulations application segment is expected to witness significant growth in the years to come as protein is an important constituent in the infant diet.
  • The growing research & development in protein-based products for clinical nutrition application have resulted in the increased number of products using protein ingredients in the biopharmaceutical industry.

 

Based on the Regional Insights the market is segmented into North America, Europe, Asia Pacific, Central & South America & Middle East & Africa

  • North America dominated the market and accounted for more than 40.0% share of the global revenue in 2020. The growing demand for protein ingredients is a result of the increasing consumption of snacks, cold cereals, and energy bars.
  • Asia Pacific is expected to register the highest growth rate in terms of revenue during the forecast period due to the emerging consumer markets in countries, such as China and India. The easy availability of raw materials has made China one of the biggest producers of plant and animal-based products. 
  • In terms of revenue, Germany accounted for the largest share in the European region in 2020. The rise in the geriatric population in Germany has fueled the demand for medical nutritional products helpful in bone and muscle maintenance.

 

Market Share Insights

  • August 2019: Cargill, Incorporated invested in a U.S.-based company called Puris that is operating in the field of plant-based ingredients.
  • October 2018: The company DuPont launched a new protein ingredient (pea protein) under the brand TRUPRO 2000 for use in beverage applications.

 

Key Companies Profile:

The incorporation of protein powders in different products and the expansion of protein derivatives are expected to remain key factors for the success of industry participants over the next few years.

Some prominent players in the global protein ingredients market include:

  • DuPont
  • Rousselot
  • Fonterra
  • Archer Daniels Midland Company
  • Burcon NutraScience
  • Tessenderlo Group
  • Kewpie Corporation
  • Roquette Frères
  • The Scoular Company
  • CHS Inc.
  • Mead Johnson & Company, LLC
  • Cargill, Incorporated

 

Order a free sample PDF of the Protein Ingredients Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com/

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Website: https://www.grandviewresearch.com/industry-analysis/protein-ingredients-market