Protein Ingredients Market Is Extrapolated To Reach A Value Of USD 85.5 Bn By 2028
Posted by rahul nikade on August 8th, 2022
Protein Ingredients Industry Overview
The global protein ingredients market size is expected to reach USD 85.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.5% from 2021 to 2028. The market is expected to witness significant growth over the forecast period owing to increasing consumer awareness regarding maintaining a healthy diet and leading an active lifestyle. In addition, the growing popularity of adopting a high protein diet as a part of weight reduction is expected to propel the demand for protein ingredients.
Protein Ingredients Market Segmentation
Grand View Research has segmented the global protein ingredients market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Plant Proteins, Animal/Dairy Proteins, Microbe-based Proteins, Insect Protein.
- 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.
- The high demand for animal-based ingredients is pushing their consumption further, thus propelling the growth of the segment over the forecast period. For example, whey increases glutathione (GSH) levels as well as enhances nutritional status and immunity in cancer patients undergoing chemotherapy.
- 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. Additionally, the growing trend of veganism is fueling the consumption of plant-based ingredients in North America and Europe.
- The demand for cereal-based ingredients is expected to witness significant growth on account of their application in the personal care and cosmetics industry. Corn-based products are used as a pacifying agent, skin conditioning agent, hair conditioning agent; as abrasives and absorbents; and as binders in the eye and facial makeup, fragrances, hair care, hair dye and hair coloring, nail, and oral care applications.
- The legume-based proteins segment is driven by the growing adoption of legumes in the vegan diet and food items as a source of protein. Furthermore, the increasing consumption of legume-based snacking products is predicted to positively impact segment growth.
- The demand for micro-based proteins is increasing due to the growth in animal feed applications over the past few years. One of the main factors contributing to the growth of the microbe-based proteins segment is its rising utilization in the aquaculture feed industry.
- 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.
- Protein ingredients are highly used in beverages to make liquid supplements. The ready-to-drink protein-rich beverages are becoming highly popular among fitness-savvy consumers, spiking the consumption of food and beverages over the forecast period.
- 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. Either animal or plant proteins constitute the ingredients of premixes. Infant formulas containing milk protein isolates and concentrates are widely used for infant nutrition.
- 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.
Protein Ingredients Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
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. For instance, Bunge Limited expanded its clean label ingredients portfolio with a new pulse-based lentil functional flour. This newly offered product is dense in protein and offered as a substitute for modified starches.
Some prominent players in the global protein ingredients market include
- 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, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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