Market Scenario: The Global plant protein ingredients market has witnessed a substantial innovation in terms of new product launches along with research & development and collaboration by the industrial players. The growth of the plant protein ingredients market is anticipated to be driven by various factors.
Growing health awareness among consumer groups specifically for protein is driving higher demand for protein-rich foods. Lack of time for cooking with increased work pressure and higher dependence on fast foods, which are high in carbohydrate and fat content have resulted in an increase in protein deficiency. Increase in obesity, which compels on diet food lower calories accompanied with protein foods is also driving the plant protein ingredients market. Hence, with above analysis, it can infer that functional foods hold the largest pie of the global plant protein ingredients application followed by sports nutrition. Beverages are one of the important applications of plant protein ingredients. The demand coming from the millennial generation, rising health & wellness among the consumers have led to the increasing demand for functional beverages, which is expected to fuel the demand for beverages in the plant protein ingredients market.
The global plant protein ingredients market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America is holding massive market share in the global plant protein ingredients market in the year of 2017 and it is expected to retain its dominance throughout the forecast period of 2017-2023. Continuous product innovation is one of the major factors for the growth of the market. Rapid advancements have been noticed in the protein ingredients products starting from the various inclusions of raw materials to packaging. Various factors such as taste, quality, and source of protein are critical for protein ingredients market. Manufacturers of protein ingredients have adopted suitable technologies to achieve desired taste and texture according to consumer’s preferences. The advancements in technology have resulted in the introduction of a wide variety of plant protein ingredient products to the consumers with different delivery formats, taste and sources and thereby driving the plant protein ingredients market in North American region.
The leading market players in the Global plant protein ingredients market primarily are E. I. du Pont de Nemours and Company (U.S.), Archer Daniels Midland Company (U.S.), Kerry Group (Ireland), Cargill Incorporated (U.S.), Amco Proteins (U.S.), Scoular Company’s Food Ingredient (U.S.), Axiom’s Foods (U.S.), Roquette Foods (France), Pinnacle Foods Inc. (U.S.), Glanbia nutritionals (U.S.), Reliance Private label supplements (U.S.), Sunwarrior(Sun Brothers, LLC)(U.S), Growing Naturals, LLC (U.S.), Ajjinomoto co.Inc. (Japan), Showa Sangyo Co., Ltd. (Japan), Omega Protein Corporation (U.S.), Manitoba harvest hemp foods (Canada), Sodrugestvo Groups (Russia), Azaki Gulico Co., Ltd. (Japan), Kyowa Hakko Kogyo Co., Ltd. (Japan)
• Plant protein ingredients manufacturers
• Protein ingredients manufacturers
• Food and Beverage Industry
• Retailers and wholesalers
• Traders, importers, and exporters
• The Global plant protein ingredients market is projected to reach USD 17.08 billion by 2023 at a CAGR of 7.22%
• Asia Pacific region is expected to witness highest growth rate of 8.18% during the forecast period of 2017-2023
Table of Content: Key Points
2 Executive Summary & Premium Insights
3 Market Dynamics
4 Global Plant Protein Ingredients Market, By Source
5 Global Plant Protein Ingredients Market, By Application
6 Global Plant Protein Ingredients Market, By Region
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