Protein Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
Protein ingredients are consumed to maintain the level of proteins in a human body as they are the best source to keep the body fit. The human body is incapable of producing vital amino acids which are required for healing cells. They can be acquired from different sources such as animals or plants. Animal proteins are generally derived from milk, meat, fish, gelatin and egg, whereas, plant based proteins are obtained from soy, wheat, canola, rice and pea. Protein ingredients are widely used in the production of dietary supplements and food products such as dairy, bakery, infant formula, beverages, etc. According to IMARC Group’s latest report, titled “Protein Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global protein ingredients market reached a value of US$ 41 Billion in 2017.
A surge in health-related issues among consumers has led them to opt for functional foods that contain the right amount of proteins and other vital nutrients, thereby being the major growth-inducing factor. Rising trend of wellness among the fitness-oriented consumers and role of protein-rich foods in muscle building and weight management are further stimulating the market growth. Moreover, increasing demand for protein ingredients in different sectors such as pharmaceuticals and cosmetics is encouraging their consumption. Demographic changes such as increasing urbanisation, rising income levels and ageing population have increased the demand for protein ingredients globally, therefore contributing to the market growth. According to the report, the market is expected to reach a value of around US$ 55 Billion by 2023, exhibiting a CAGR of 5.1% during 2018-2023.
The report has segmented the market on the basis of product type into animal and plant proteins. Currently, animal proteins account for the majority of the total market share. This segment is further segregated into egg protein, whey protein, gelatin, casein and milk protein concentrates/isolates. Whereas, plant proteins include soy protein, wheat protein and pea protein. Further, on the basis of application, the food and beverage sector holds the largest share. It is followed by personal care and cosmetics, pharmaceuticals and animal feed sectors. Region-wise, the report covers Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. Currently, Europe represents the largest market, accounting for the majority of the total global share. The report has also analysed the competitive landscape of the market with some of the key global players being Cargill, Inc., Archer-Daniels-Midland Company, Kerry Group, Omega Protein Corporation and Mead Johnson.
This report provides a deep insight into the global protein ingredients market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the protein ingredients industry in any manner.
Key Questions Answered in This Report:
How has the global protein ingredients market performed so far and how will it perform in the coming years?
What are the key regions in the global protein ingredients market?
What are the key application segments in the global protein ingredients market?
Which are the popular product types in the global protein ingredients market?
What are the various stages in the value chain of the global protein ingredients market?
What are the key driving factors and challenges in the global protein ingredients market?
What is the structure of the global protein ingredients market and who are the key players?
What is the degree of competition in the global protein ingredients market?
How are protein ingredients manufactured?
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