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Protein Ingredients Market Overview
The protein ingredients market is likely to demonstrate rapid revenue growth, mainly due to the increasing consumption of protein products worldwide. Market Research Future (MRFR) confirms that the global protein ingredients market value will escalate from USD 38.2 BN in 2022 to USD 90.173 BN by 2032, growing at a 10.00% CAGR during the review period (2023-2032).
The intake of protein products has proven to be useful for fast recovery. The increasing consumption of protein ingredients in the functional foods and sports nutrition industry would drive market growth. Moreover, augmenting demand for overall health & wellness products and protein-rich foods & beverages would boost the protein ingredients market size.
The rising demand for protein-rich foods & beverages for specific requirements like weight management & control and muscle growth leads to the massive consumption of protein ingredients. Also, the rising usage of protein products to improve immunity during the treatment of various chronic diseases pushes the growth of the market.
Increasing adoption of infant and child protein products due to the heady lifestyle contributes to market revenues. Additionally, the increasing awareness about protein food & beverages’ advantages fosters the protein ingredients market value. The lack of adequate nutrients substantiates market shares, generating the demand for protein products.
On the flip side, the high prices, stringent FDA regularities, and unfavorable reimbursement policies in various countries are anticipated to inhibit the growth of the market. Also, various low-cost and counterfeit protein products would obstruct the market development, restricting the growth of the nutrition and protein product market.
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Global Protein Ingredients Market – Segments
The market report is segmented into products, applications, and regions. Of these, the product segment is sub-segmented into plant protein, animal/dairy proteins, microbe protein, and others. Further, the application segment is sub-segmented into food & beverages, infant formulations, clinical nutrition, animal feed, and others. By regions, the protein ingredients market is segmented into the Americas, Europe, APAC, and rest-of-the-world.
Global Protein Ingredients Market – Geographical Analysis
North America dominates the global protein ingredients market due to the large presence of the consumer base and market players in the region. Also, factors such as the high expenses for healthcare & wellness and awareness about the benefits of consumption of various proteins foster the regional market growth. Moreover, increasing government initiatives and efforts to promote the consumption of protein drinks impact the market size.
Major Players:
Players leading the global protein ingredients market include Solae (US), Archer-Daniels-Midland Co. (US), Shandong Yuwang Industrial Co., Ltd (China), Gushen Biological Technology Group Co., Ltd (China), Shandong Sinoglory Health Food Co., Ltd (China), Solbar (Israel), and Nutripea (Canada), among others.
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Global Protein Ingredients Market – Competitive Analysis
The highly competitive protein ingredients market appears fragmented due to several large and small players. Players initiate strategies such as mergers & acquisitions, collaborations, expansion, and product launches for a larger market competitive share. They compete based on portfolio, product differentiation, and pricing. The market will likely witness intensifying competition owing to the expected improvement in products, services, and innovations.
Innovation/Industry/ Related News:
Aug.10, 2023 — Novozymes and Arla Foods Ingredients announced a partnership to develop protein ingredients using precision fermentation. Under the partnership, companies will further explore disease-specific medical nutrition and plan to expand into other segments. Collaborating with Novozymes fits Arla Foods’ ambition to explore alternative nutrition platforms and complement its dairy & whey solutions portfolio.
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