Protein Ingredients Market by Source (Animal and Plant), Application (Food & Beverage, Animal Feed, Cosmetics & Personal Care, and Pharmaceuticals), and Region - Forecast to 2022
“Protein Ingredients Market projected to grow at a CAGR of 6.0%”
The protein ingredients market has grown rapidly in the last few years and is projected to reach USD 58.49 billion by 2022 at a CAGR of 6.0% from 2017. The protein ingredients market is driven by the increasing consumer awareness about healthy diets. Changing lifestyles and high disposable incomes have led to increased consumer preference for nutritional food products. Stringent regulations are restraining market growth. A number of legislations laid down by different regulatory bodies prevail in the protein ingredients market; for instance, the U.S. FDA (U.S. Food & Drug Administration) has strict regulations regarding proteins derived from mammalian tissues, any protein-containing portion of mammalian animals, or any product whose only mammalian protein consists entirely of porcine or equine protein.
“Dairy protein from animal source is the fastest-growing segment of the protein ingredients market.”
In 2016, the dairy protein segment accounted for the largest share in the protein ingredients market in terms of value, and is projected to grow at a higher CAGR from 2017 to 2022. The dairy protein segment is further segmented into whey protein, casein & caseinates, and milk protein concentrates. Whey protein ingredients include whey protein isolates, whey protein concentrates, and whey protein hydrolysates. Casein protein ingredients contain a substantial amount of amino acids and are widely used for various purposes in a diverse range of applications.
“Asia-Pacific market is projected to grow at highest CAGR between 2016 and 2022.”
The North American region accounted for the largest market share in 2016, in terms of value. The U.S. is the largest country-level market in this region. It is the largest consumer of protein ingredients with an estimated share of about 80.0% in 2016. The market is driven by the rising demand for functional food & beverages coupled with rising consumption of dietary supplements. The food industry has contributed significantly to the regional growth.
In the Asia-Pacific region, the demand for protein ingredients is high; the market in this region is projected to grow at a significant rate of 8% during the forecast period. Some of the main reasons for this growth are the increasing population and the support from government as well as national and international associations to improve health and diet standards. With rapid economic growth in the region, high demand is projected for protein ingredients, especially in China, India, and Southeast Asian countries. Growing health consciousness among consumers has resulted in consumers shifting their focus towards healthy diets, supported by the improving economic conditions in this region, which have led to consumers demanding premium food products with higher/better nutritional value.
Break-up of Primaries:
By Company Type: Tier 1 – 25%, Tier 2 – 25%, and Tier 3 – 50%
By Designation: D - level – 25%, Consultants –75%.
By Region: North America – 50%, Europe – 50%.
The leading players in the protein ingredients market are Cargill (U.S.), Archer Daniels Midland Company (ADM) (U.S.), E. I. du Pont de Nemours and Company (U.S.), Kerry Group plc (Ireland), Omega Protein Corporation (U.S.), Fonterra Co-operative Group Ltd. (New Zealand), Arla Foods (Denmark), Kewpie Corporation (Japan), AMCO Proteins (U.S.), GELITA AG (Germany), and Hilmar Ingredients (U.S.).
The protein ingredients market is segmented on the basis of source, application, and region. The source segment is divided into animal source and plant source. The animal protein segment is further segmented into dairy protein, egg protein, and gelatin; plant protein is further segmented into soy protein, wheat protein, and vegetable protein. The region segment is divided into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
To get a comprehensive overview of the protein ingredients market with specific reference to ingredient markets
To gain a wide range of information about the top players in this industry, their products portfolios, and key strategies adopted by them
To gain insights of the major regions/countries in which the protein ingredients industry is flourishing