The Protein Ingredients Market Analysis is slated to record a CAGR of 3.87% during the forecast period (2017 to 2022).
The increasing demand for food products made with protein ingredients, such as margarine, cold cuts, bakery products, spreads, yogurt, and milk sausages led to the market gaining traction and experiencing high demand. The market is also growing due to rising consumption of these items by health-conscious and elderly consumers. Furthermore, an increase in the production of several proteins by various manufacturers that contain a wide range of amino acids and perform specific functions, such as satiety, muscle recovery, weight loss, and energy balance, is expected to provide the market with enormous growth opportunities. Increased demand for protein functionalities, increased understanding of a balanced diet and nutritious food, new technical advancements in the Protein Ingredients Market Analysis, increased demand for superior personal care and healthcare products, and increased consumption of animal by-products are all driving market growth.
COVID-19 is projected to raise demand for protein ingredients in the global market at a much faster pace. People are becoming more aware of the need to improve their immune systems in order to avoid becoming poisoned more easily, which is motivating them to live a healthier lifestyle and eat a balanced diet.
The Protein Ingredients Market Analysis is categorized into smaller segments such as feedstock, form, and applications in order to analyze the market.
The feedstock segment is categorized into beef, canola, casein, egg, milk, pea, pork, soy, wheat, whey, and others. Analysts have studied these sub segments.
Based on form, the global market is further segmented into bars, capsules & tablets, powder, ready to drink, and others.
On the basis of applications, the market is segmented into smaller segments including confectionery & other food products, functional foods, meat additives, pharmaceutical, sports nutrition, and others.
In 2020, North America dominated the industry, accounting for more than 40.0 percent of global sales. Increased consumption of snacks, cold cereals, and energy bars is driving up demand for hydrolysed vegetable proteins. In recent years, the intake of animal-based products in the United States has increased significantly. Over the next few years, animal protein is expected to rise even more in the world. The product demand in the United States is expected to rise due to strong demand for these products derived from animal sources in the domestic market. Over the forecast period, the market is expected to be driven by supply chain initiatives undertaken by ingredient manufacturing companies to improve product distribution.
Germany accounted for the largest share of sales in the European region in 2020. The increase in Germany’s geriatric population has fueled demand for medical nutritional products that help maintain bone and muscle mass. In recent years, this has boosted demand for these ingredients. Furthermore, the role of protein ingredients in the treatment of Alzheimer’s disease has had a positive effect on the German market.
Due to emerging consumer markets in countries like China and India, Asia Pacific is projected to have the highest sales growth rate during the forecast period. China has been one of the largest producers of plant and animal-based products due to the easy availability of raw materials. In China, soy protein is widely consumed, accounting for more than 91 percent of the country’s plant-based protein market. Furthermore, over the next few years, increasing reliance on packaged foods and beverages is expected to drive product demand in South Korea, Malaysia, Indonesia, India, and China.
The leading market players in the global Protein Ingredients Market Analysis primarily are Archer-Daniels-Midland Co. (U.S.), Solae (U.S.), Shandong Yuwang Industrial Co., Ltd (China), Shandong Sinoglory Health Food Co., Ltd (China), Gushen Biological Technology Group Co., Ltd (China), Solbar (Israel) and Nutripea (Canada). Market players are employing a variety of strategies in order to meet the demand for the commodity while also lowering overall costs by lowering raw material and labor costs. With both fragmented and centralized market systems in developing and developed countries, there is a strong potential for independent, public, and internationally renowned players in the market. To capture emerging markets and compete with domestic players, the major players are pursuing mergers and acquisitions. The strategy has also aided businesses in expanding distribution networks to ensure a better supply of goods across regions.
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