Global Protein Ingredients Market Outlook 2031
Global protein ingredients market was valued at USD 47.01 billion in 2022 and is estimated to reach USD 115.47 billion by 2031 register a substantial CAGR of 10.5% during the forecast period, 2023–2031. The growth of the market is attributed to growing demand for food products, such as cold cuts, margarine, spreads, bakery products, yogurt, and milk sausages, which are manufactured through protein ingredients.
Rising consumption of these products among elderly consumers and health-conscious is also driving the market growth. Furthermore, rapid growth in the innovation of various proteins by several manufacturers that account for a wide range of amino acids and perform certain functions, such as satiety, weight loss, muscle repair, and energy balance, is likely to expend the market. It also aids in providing vital amino acids which are required by healing cells as the human body is incapable of producing it.
The Covid-19 pandemic had both favorable and unpleasant impact on the protein ingredients market. The demand for protein-enriched food products observes moderate expansion among the global consumers, primarily with an aim to boost the immunity of the consumers.
On the other hand, the change in consumption patterns coupled with consumer purchasing behavior has impede the demand for protein ingredients; however, the government’s steps and strategies have helped to neutralized the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Protein Ingredients Market Trends, Drivers, Restraints, and Opportunities
- Rising population, growing trends of urbanization, changing lifestyle, increasing number of women in professional spaces are leading consumers plump for health and wellness options which is likely to drive the market growth during the forecast period.
- Increasing demand for protein-fortified foods to acquire the daily nutritious obligation. Furthermore, protein ingredients have appeared from being an unsought commodity to a desirable ingredient. These applications are projected to fuel the market expansion.
- Protein foods are also beneficial in assisting weight-loss. Based on clinical trials, high-protein diets can aid to preserve lean body mass and keep a better body composition, which is likely to boost the market in coming years.
- Gelatin is produced from the collagen of slaughtered animals such as cattle, fish, pigs and poultry. Individuals with dietary or religious restrictions that forbid the consumption of animal products is likely to avoid the consumption of gelatin; thereby, hindering the market growth of protein ingredients market
- R&D investment and technological advancement in protein ingredients market are expected to offer lucrative opportunities for the market players.
Scope of The Protein Ingredients Market Report
The report on the global protein ingredients market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Protein Ingredients Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Source (Animal Source [Dairy Protein, Egg Protein, Gelatin and Others], Plant Source [Soy Protein, Wheat Protein, and Vegetable Protein]), Application (Animal Feed, Food & Beverage, Infant Formulations, Cosmetics & Personal Care, and Pharmaceuticals)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cargill Inc., Kerry Group Plc, Arla Foods, Archer Daniels Midland Company (ADM), DuPont de Nemours, Inc, and Fonterra Co-Operative Group Ltd., and others
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Protein Ingredients Market Segment insights
The animal source segment is projected to constitute a large market share
Based on source, the protein ingredients market is segregated into animal and plant source. The animal source segment is further sub-divided into dairy protein, egg protein, gelatin and others, and the plant source is further sub-divided into soy protein, wheat protein, and vegetable protein. The animal segment is expected to account for a key share of over 70% of the market during the forecast period owing to its better nutritional profile over plant protein, its presiding usage in a larger number of end-use applications including functional beverages.
However, plant segment is expected to register significant growth in coming years due to the rising trend of veganism and the perception of plant-based products being healthier than animal-based products lead to increasing adoption of products such as wheat and soy. Moreover, plant proteins are relatively inexpensive compared to animal-derived.
Food & beverage segment is expected to register a substantial CAGR
Based on application, the protein ingredients market is divided into animal feed, food & beverage, infant formulations, cosmetics & personal care, and pharmaceuticals. The food & beverage segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to advancements of protein ingredients in various functional food products to make them nutrient-rich.
Asia Pacific is expected to dominate the market
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to expand at a robust CAGR during the forecast period. The rising health consciousness and awareness about the positive effects of protein consumption is anticipated to boost the market growth over the coming years.
However, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to rapid industrial growth, increasing disposable incomes, and the rising population.
Segments
The global protein ingredients market has been segmented on the basis of
Source
- Animal Source
- Dairy Protein
- Egg Protein
- Gelatin
- Others
- Plant Source
- Soy Protein
- Wheat Protein
- Vegetable Protein
Application
- Animal Feed
- Food & Beverage
- Infant Formulations
- Cosmetics & Personal Care
- Pharmaceuticals
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Companies
Competitive Landscape
Key players competing in the global protein ingredients market include Cargill Inc., Kerry Group Plc, Arla Foods, Archer Daniels Midland Company (ADM), DuPont de Nemours, Inc, and Fonterra Co-Operative Group Ltd., and others
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.