LOS ANGELES, March 30, 2021 (GLOBE NEWSWIRE) -- The Global Protein Ingredients Market is expected to grow at a CAGR of around 6.8% from 2020 to 2027 and reach the market value of over US$ 82.9 Bn by 2027.
The global protein ingredients market is estimated to experience noticeable growth over the forecast period from 2020 to 2027. The increasing awareness about the protein ingredients among the health-conscious population across the globe is bolstering the market value. The increasing development of varied products by the major players that contains protein ingredients is further adding to the market value.
The global protein ingredients market is segmented on the basis of source of protein, application, and geography. Based on the source of protein, the market is studied across animal-sourced and plant-sourced proteins, which are further bifurcated for deeper understanding. Additionally, protein ingredients have applications across food and beverage, health and personal care, pharmaceutical, and animal feed.
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On the basis of the source of protein, animal-sourced protein is having a potential share in the global protein ingredients market. The animal-sourced protein segment is further bifurcated into dairy products, egg protein, and gelatin whereas, dairy products sourced protein includes milk protein concentrates, whey protein, and casein/caseinates.
Moreover, the plant-sourced protein segment is projected to exhibit the fastest growth over the forecast timeframe from 2020 to 2027. The increasing awareness about the negative environmental effects of animal-sourced protein is turning consumers towards the consumption of plant-sourced protein alternatives. The plant-sourced protein segment is bifurcated across soy protein, wheat protein, and vegetable protein. Moreover, the increasing vegan population is additionally bolstering the segmental market growth in the forecast period.
North America had a significant share in the protein ingredients market and the region is also anticipated to maintain its dominance over the forecast period from 2020 to 2027. The presence of major players in the region is additionally propelling the regional market value. Moreover, the region is segregated across the US and Canada. The US accounted for the maximum share in the regional market owing to its aware population and high consumption of processed food.
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Asia Pacific is projected to experience the fastest growth over the forecast period from 2020 to 2027. The rapidly developing economies of the region along with their rapid industrialization are supporting the production and consumption of protein ingredients in the region. The increasing demand for packaged food products in the region among the working population is further expected to create growth throughout the estimated period.
Some of the leading competitors are Abbott Nutrition, Bunge Limited, Burcon NutraScience, Cargill, Dean Foods, Hilmar Cheese Company, Mead Johnson & Company, LLC, Nellson Nutraceutical LLC, Nestlé S.A., PepsiCo Inc., Roquette, Scoular, and Unilever. The major players are continuously involved in the development and research of a more efficient way of deriving protein from the animal as well as plant sources.
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Some of the key observations regarding the protein ingredients industry include:
- Scientists from the School of Trade and Services, Siberian Federal University (SibFU), have carried out a study on spirulina proteins. The study has estimated the amino acid composition of spirulina proteins and also determined their biological value. Additionally, scientists have noted the special antioxidant activity of water extracts made from spirulina powder during the study period. Moreover, spirulina is a thermophilic blue-green algae commonly found in freshwater bodies of Asia, Africa, and South & Central America. Scientists have also commented that spirulina can be used as a protein ingredient in drinks for students playing volleyball. As per the calculation method performed using a special amino acid analyzer, spirulina proteins contain all the essential amino acids. As a result, researchers have confirmed the high biological value of microalgae proteins.
- A California-based startup, Triton Algae Innovations is strengthening freshwater algae species and is prepared to launch its plant-based algae ingredients as its first retail product in 2021. The startup uses algae species “Chlamydomonas reinhardtii,” for cost-efficient production with the heterotrophic process. Moreover, Triton grows “Chlamydomonas reinhardtii” in its fermentation tanks.
- In 2021, Ingredion Incorporated, an American multinational ingredients firm has expanded its line of plant-based solutions for the food & beverage industry by adding two pea-based ingredients into its existing Nebraska-based pea protein factory.
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