The market size of the global protein ingredients market in the year 2021 is valued at 49.53 billion and is predicted to reach 93.30 billion by the year 2030 at an 7.55% CAGR during the forecast period.
Amino acids, which are usually referred to as building blocks as they are connected in long chains, are the components of protein. It is frequently referred to as a "macronutrient," which signifies that humans require significant amounts of it to remain healthy. Protein is an essential component of skin, cartilage, muscles, and bones.
Growing consumer awareness of wholesome and nutritious food products is one of the key reasons responsible for the growth of the global market for protein ingredients. The popularity of fitness clubs among young people throughout the world fuels the development of the protein ingredients market. The need for protein ingredients as health supplements is causing the global market for protein ingredients to expand rapidly. The increasing consumption of processed foods and caffeinated drinks among consumers all over the world is helping to drive the expansion of the global market for protein ingredients. Diets high in protein and low in carbs are becoming more popular, which is expected to propel the market. The global protein ingredients market expansion is a goal that all governments strive to achieve. The government is making investments to grow the food and beverage sector. This is having a direct impact on the market for protein ingredients worldwide growth and expansion. Similarly, emerging market governments work with market participants to broaden their market reach. The government also runs awareness campaigns to encourage individuals to eat more protein-rich foods. Thus, the global market's growth is driven by all the causes mentioned above.
Market Segmentation:
The protein ingredients market is segmented based on type, form, and applications. Based on type, the protein ingredients market is segmented as animal protein ingredients (Dairy Protein, Milk Protein, Whey Protein, Casein & Caseinates, Egg Protein, Gelatin and Other Animal Protein), plant protein ingredients (Soy Protein, Wheat Protein, Pea Protein, Rice Protein, Potato Protein, Canola Protein, Corn Protein and Other Plant Protein) and insect protein ingredient (Microbial Protein Ingredients, Algae, Fungi and Others). By application, the market is segmented into food and beverages, animal feed, nutrition and health supplements, pharmaceuticals, personal care, and cosmetics and others. By form, the protein ingredients market is segmented into dry and liquid.
Based on type, the animal protein segment is accounted as a major contributor to the protein ingredients market.
The animal protein category is expected to hold a major share in the global protein ingredients market in 2021. Animal protein ingredients offer several health benefits backed up by credible scientific research and acknowledged by the government's food regulatory agencies. The market is expected to increase rapidly throughout the projected period due to the high demand for animal ingredients. For instance, whey boosts levels of glutathione (GSH), improves nutritional status, and boosts immunity in cancer patients receiving chemotherapy.
Food and Beverages segment witnessed growth at a rapid rate
The food and beverage sector propels the global market for protein ingredients. Consumers seek high-quality products with enticing flavours and excellent nutritional values, positively boosting the market for protein ingredients worldwide. Further, process design and technology improvements have raised the quality of highly refined whey products like demineralized whey, WPIs, and WPCs. The rising use of protein ingredients to create various functional food products that are more nutrient-rich because of developments is anticipated to grow the market.
In the region, the North America protein ingredients market holds the largest revenue share.
The North America protein ingredients market is accounted to register the largest revenue share in the protein ingredients market soon. Changes in eating habits, dietary requirements, and a preference for vegetarian protein sources are the leading market drivers for protein ingredients in North America. Other Factors driving the global protein ingredients market growth are anticipated to be aided by rising consumer demand for goods, including energy bars, snacks, and cold cereals.
Furthermore, Asia Pacific region is estimated to be the fastest-growing protein ingredients market during the forecast period. Animal and plant protein ingredients are in high demand, fueling the Asia-Pacific market's expansion for protein ingredients. The rise of the food and beverage, healthcare, and economic sectors are the main drivers boosting the Asian-Pacific region's demand for protein ingredients.
Competitive Landscape
Some of the major key players in the protein ingredients market are Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), E.I. Dupont De Nemours and Company (U.S.), Kerry Group (Ireland), Roquette Freres (France), Arla Foods amba (Denmark), Fonterra Co-Operative Group Limited (New Zealand), Royal FrieslandCampina N.V. (The Netherlands), AMCO Proteins (U.S.), Axiom Foods Inc. (U.S.), Burcon NutraScience Corporation (Canada), Glanbia plc (Ireland), GELITA AG (Germany), CHS Inc. (U.S.), Kewpie Corporation (Japan), Omega Protein Corporation (U.S.), Hilmar Ingredients (U.S.), AgriProtein (South Africa), Crespel & Deiters GmbH & co. kg (Germany), Ÿnsect (France), Farbest Brands (U.S.), Enterra Feed Corporation (Canada), Sotexpro (France), Protix (The Netherlands), Now Foods (U.S.), Entomo Farms (Canada), Cosucra Groupe Warcoing SA (Belgium), DIC Corporation (Japan), Taiwan Chlorella Manufacturing Company (Taiwan), Tianjin Norland Biotech Co., Ltd. (China), Cyanotech Corporation (U.S.), MycoTechnology Inc. (U.S.), and 3Fbio Ltd. (U.K.).
