About Protein Ingredients
Protein ingredients are protein-rich materials used as ingredients in food, beverages, and feed products such as dietary supplements, sports nutrition products, bakery products, dairy products, ready meals, infant formula, and desserts. They are rich in nutrients with the correct amount of amino acids, and they provide essential nutrients to humans and animals. They are also used for combatting nutritional deficiencies and to tackle problems such as cardiovascular diseases, weight management, and many other problems. Protein ingredients can be both animal-based (derived from products produced by animals), such as egg, whey, and casein, and plant-based (derived from plants), such as soy, wheat, and pea.
Technavio’s analysts forecast the global protein ingredients market to grow at a CAGR of 10.16% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global protein ingredients market 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of different protein ingredients by vendors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Protein Ingredients Market 2016-2020
Technavio recognizes the following companies as the key players in the global protein ingredients market: Archers Daniel Midland, Cargill, and Kerry.
Other Prominent Vendors in the market are: AMCO Proteins, Arla Foods, Armor Protein, Associated British Foods, Bioexx Specialty Proteins, Bunge, Burcon NutraScience, Ceresking Ecology and Technology (Unitechem), Dean Foods, Devansoy, Fonterra, Friesland Campina, Gelita, Glanbia, Gushen Group, Omega Protein, and Sinoglory.
Commenting on the report, an analyst from Technavio’s team said: “One trend augmenting growth in this market is the growing preference for plant protein ingredients. In recent years, many new plant-based protein ingredients have been introduced in the market such as pea, rice, canola, and potato-based protein ingredients, which are gaining acceptance in the market. Additionally, the demand for soy and wheat proteins in the market is increasing rapidly. The major reason for this demand is an increase in vegetarianism among consumers, who are opting for plant-based ingredients rather than animal-based ingredients.”
According to the report, one driver fostering growth in the market is the growing infant formula market. Infant formula is usually a powder or liquid formula given to babies and infants between 6 months and 12 months old, as it provides the nutritional needs for the healthy development of babies. It is also used as a partial or total replacement for breast milk. The demand for infant formula is increasing globally, driven by certain factors such as the growing awareness among parents about its nutritional benefits, an increase in the birth rate in many countries, and the increasing number of working women.
Further, the report states that one challenge hindering market growth is the highly fragmented nature of the market. The market is characterized by increased competition among vendors and fragmentation due to the presence of a large number of small and large players. There are many players present in the market for each protein ingredient type, whereas the number of end-user applications is limited, which further restricts the growth of vendors. Additionally, the opportunity for product differentiation is limited, which makes it difficult for vendors to position their products differently.
Archers Daniel Midland, Cargill, Kerry, AMCO Proteins, Arla Foods, Armor Protein, Associated British Foods, Bioexx Specialty Proteins, Bunge, Burcon NutraScience, Ceresking Ecology and Technology (Unitechem), Dean Foods, Devansoy, Fonterra, Friesland Campina, Gelita, Glanbia, Gushen Group, Omega Protein, and Sinoglory.
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