Protein is a key nutrient that the body uses to build muscle tissue among other important functions. In the recent years, the market for protein ingredients has blown up and market trends indicate further growth for the forecast period. In terms of market volume, the global protein ingredients market is projected to grow to 5,547.12 KT and a steady yet modest 3.87% CAGR. The report identifies the rising popularity of functional foods and growing consumer awareness as key facilitators of growth for this market.
Increasing population, rapidly changing lifestyle and ongoing product development have motivated growth for this market on a global scale. Additionally, protein has been identified as a key factor in facilitating weight loss as well as maintaining & building muscle, this has made the nutrient a staple for fitness oriented consumers which has contributed to steady growth.
The food and beverage industry accounts for the largest share in the protein ingredients market and will continue to dominate, however, protein is also used to improve quality of baked goods and extend shelf life of products. Protein is also used in infant formulation, and is gaining traction owing to its increased use in pharmaceuticals.
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Although animal protein is the currently preferred form of protein, there is a growing demand for soy due to its high fiber content and easily digestible nature. Soy has many applications such as in bakery items, cereals and some meat products. Moreover, due to the agricultural abundance of soy in the Asia Pacific region, there is a high demand for plant based protein like soy which is further expected to drive growth.
Major Key Players:
Prominent players that contribute to the competitive landscape of the global protein ingredients market include Solbar, Archer Daniels Midland Co., Gushen Biological Technology Group Co. Ltd., Solae, Shandong Sinoglory Health Food co. Ltd., Shandong Yuwang Industrial Co. Ltd and Nutripea.
Latest Industry News:
Archer Daniels Midland has developed a new source of protein for use in pet food. Versity is a palatable dried yeast which has been developed to provide nutritional flexibility in formulation of pet food and treats. The unique feature of this yeast, is its ability to deliver essential amino acids as well as its low fat and calcium content.
Protes, a U.S. based functional food brand has created protein popcorn that they will add to their product offering. A 40g serving of Protes’ protein popcorn contains an impressive 10g of protein. Currently available in two flavors, the product is also gluten free and GMO free.
The market report includes market segment analysis so as to provide a comprehensive understanding of trends affecting market growth. The global protein ingredients market is segmented on the basis of feedstock, form and application.
Based on feedstock, the market is segmented into soy, wheat, pea, canola, whey, milk, casein, egg, beef, pork and other ingredients. Soy is projected to grow significantly and take the lead during the forecast period due to an increasing shift of consumers from animal to plant based proteins.
Based on form, the market is segmented into powder, bars, ready to drink, capsules & tablets and other forms. Ready to drink and powder forms of protein are expected to grow at a faster rate than other forms, due to their ease of use and the availability of various flavors. Ready to drink has a projected CAGR of 5.18% during the forecast period.
Based on application, the market is segmented into functional foods, sports nutrition, meat additives, confectionery & other food products, pharmaceuticals and other applications. Functional foods and sports nutrition are the dominating market segments that motivate growth. High demand for protein ingredient products for weight management, muscle growth and faster recovery are key factors driving growth.
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The regional analysis for the Global Protein Ingredients Market includes Europe, North America, Asia Pacific (APAC) and the Rest of the World (ROW).
North America and Europe has been dominating the global market. Market segments such as functional foods and plant based proteins have gained traction in these regions and the increased availability of these products have contributed to growth. Consumer awareness about the benefits of protein combined with a rising focus on health has been a key facilitator of growth.
Asia Pacific is projected to be the fastest growing regional market segment during the forecast period. Increasing disposable incomes, growing awareness of health and a growing consumer base are some key factors propelling growth for the market in this region. Additionally, China is one of the largest manufacturers and exporters of soybean which is one of the most popular plant based proteins.
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