Protein Ingredients Market By Form (Dry & Liquid), Source (Animal Protein & Plant Protein), Product Type, Applications, Region, Global Industry Analysis, Market Size, Share, Growth, Trends & Forecast to 2027
Newark, NJ, May 26, 2022 (GLOBE NEWSWIRE) — According to the report published by Fior Markets, the global protein ingredients market is expected to grow from $43.86 billion in 2019 to $85.48 billion by 2027, with a CAGR of 8.7% over the forecast period 2020-2027. North America is the dominant segment. The food and beverage industry is massive in the region, and the spending capacity is also large as the per capita income is high. In addition, people are more inclined to consume protein-rich foods. However, Asia-Pacific is expected to grow at an impressive rate. The demand for protein-rich foods has increased in recent years.
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The major players in protein ingredients market are Mead Johnson, DuPont, Cargill, Bunge, Glanbia Plc., Archer Daniels Midland Co., Kerry Group Plc., Solae LLC and others. Cargill has invested a total of $75 million in PURIS Pea protein at the Minneapolis plant. This was an initiative to meet the increased demand for protein.
The form segment includes dry and liquid form. The dry form is more stable than the liquid form. It therefore constitutes an important market share. The dry form is extracted using downstream processes. It contains the right amount of moisture as well as the protein concentration in the products. Also, the dry form is easy to handle and store and has a longer shelf life than the liquid form. The source segment includes animal protein and plant protein. Animal proteins are derived from dairy products, egg proteins, whey proteins, casein and caseinates, milk proteins and gelatin. Plant proteins are derived from wheat protein, soy protein, pea protein and vegetables. The demand for animal protein constitutes a significant share of the market. The increase in the consumption of dairy and meat products has contributed to the growth of the segment in recent years. Also, the plant protein segment is expected to grow at a high rate. The product type segment includes isolates, concentrates, hydrolyzed and others. Concentrates constitute the majority shares of the segment. The sports and fitness industry has a growing demand for concentrates as they provide a lot of energy to the consumer. The applications segment includes food and beverages, animal feeds, pharmaceuticals, nutritional supplements and powders, personal care and cosmetics, infant formulas and others. Among these, food and beverages hold the largest market share. Protein ingredients are widely used in foods and beverages. They are used in bars and baked goods. The demand for protein-rich foods and beverages is increasing over the years to meet energy needs and maintain a healthy diet.
Protein ingredients are mainly consumed by sports athletes. It is essential for strengthening muscles and repairing damaged tissue. The demand for nutritious foods is increasing among consumers. Manufacturers are increasing their capacity to meet growing demand. Several problems require additional protein intake. People with lactose intolerance need protein for its nutritional value.
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About the report:
The global protein ingredients market is analyzed on the basis of value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
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