DUBLIN, Dec. 20, 2023 /PRNewswire/ — The “Protein Ingredients Market – Global Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global protein ingredients market is expected to grow at a CAGR of 6.49% from 2022-2028.
The global protein ingredients market is projected to grow rapidly in the coming years. An increase in consumer demand for high-quality, nutrient-dense foods drives this growth. The key global protein ingredients market players are ADM, Cargill, FrieslandCampina, International Flavors & Fragrances (IFF), and Fonterra Co-operative Group.
Competition in the industry is increasingly globalized as new players enter, based mainly on emerging markets such as China, India, and Brazil. In addition, multinational companies seize the opportunity to gain a competitive edge by investing in new protein sources and in R&D initiatives to create new and innovative products. As a result, the competition is global and highly structured, with a clear delineation between industry leaders and up-and-coming rivals. The competitor in the worldwide industry impact the competitive dynamics, with prominent players investing heavily in R&D initiatives while smaller companies look to capitalize on new opportunities.
MARKET TRENDS & DRIVERS
Demand for Plant-based Products in Sports Nutrition
Consumers globally adopt a healthy lifestyle, especially in developed countries. As a result, the consumer base for sports nutrition and supplements is expanding. Sports nutrition is one of the fastest-growing categories within consumer health. It is expected to grow during the forecast period, driven by expanding core users from bodybuilders and performance athletes to a broader basket of consumers focused on fitness and healthy lifestyles. One of the key trends in the sports nutrition and supplement industry is the increased demand for plant-based products.
Large Health-conscious Population
The trend of health consciousness among people, currently seen only among certain segments of society, is expected to increase significantly during the forecast period. The modern generation is more interested in pursuing a healthy lifestyle. Apart from this, there is a gradual shift among consumers towards healthier eating habits.
INDUSTRY RESTRAINTSFluctuations in Raw Material Prices
The rise and fall in the price of raw materials, such as soy, pea, almond, coconut, rice, and other ingredients required to produce plant-based protein supplements directly impact the cost of production. Thus, changing the price of these raw materials is one of the most significant challenges to the protein ingredients market.
INSIGHTS BY SOURCE
The global protein ingredients market by source can be segmented as animal, plant, insect, and microbial. The animal source segment is expected to be the largest revenue segment. Animal-based food includes meat, dairy, eggs, aquaculture, and fisheries.
Animal-based raw materials are primarily derived from dairy milk, which is very popular among consumers as it helps muscle build and quick recovery. Some animal products such as fish, eggs, dairy products including cheese, milk, whey, red meat, and poultry from sources such as chickens, turkeys, and quails are a complete source of protein. Certain animal protein sources contain high levels of heme iron and vitamin B12.
INSIGHTS BY FORM
The dry-form segment is expected to be the largest revenue segment of the global protein ingredients market in 2022. The dry or powdered form of protein ingredients is sourced from plants such as peas, soybeans, potatoes, rice, hemp and animals such as eggs and milk (whey protein or casein).
The dry protein powder ingredients include artificial flavoring, added sugars, vitamins, thickeners, and minerals. Protein powders are concentrated protein sources from plant or animal food such as eggs, dairy, peas, or rice. Protein isolates, protein concentrates, and protein hydrolysates are common forms of protein powder.
INSIGHTS BY APPLICATION
The food & beverages application segment is expected to be the largest revenue segment of the global protein ingredients market. The food & beverages segment includes meat and meat alternatives, dairy and dairy alternatives, bakery products, performance nutrition, and convenience foods.
Brands are tasked with advancing using new, more innovative technologies to keep up with consumer demand due to the continuous rise in popularity of protein-enriched food and beverage products. Presently, the developed markets witness a protein fortification shift from niche areas, such as sports nutrition, into the mainstream. This transformation provides opportunities for the development of new products.
KEY QUESTIONS ANSWERED:
- How big is the protein ingredients market?
- What is the growth rate of the global protein ingredients market?
- Which region dominates the global protein ingredients market share?
- What are the significant trends in the protein ingredients industry?
- Who are the key players in the global protein ingredients market?
Market Opportunities & Trends
- Demand for Plant-based Products in Sports Nutrition
- Growth in Vegan Population
- Technological Advances in Protein Industry
Market Growth Enablers
- Large Health-Conscious Population
- Demand for Fitness & Health Clubs
- Increased Livestock Production
Market Restraints
- Fluctuations in Raw Material Prices
- Stringent Regulations & Health Standards
Key Company Profiles
- ADM
- Cargill
- FrieslandCampina
- International Flavors & Fragrances (IFF)
- Fonterra Co-operative Group
Other Prominent Vendors
- Kerry
- Arla Foods
- Bunge
- Corbion
- Fuji Oil
- GELITA
- Glanbia
- AMCO Proteins
- The Scoular Company
- Wilmar International
- Roquette Freres
- Sudzucker AG
- Hilmar Cheese Company
- Ingredion
- Burcon
- COSUCRA
- A&B Ingredients
- Tate & Lyle
For more information about this report visit https://www.researchandmarkets.com/r/63hoyn
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