New York, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Increasing consumer awareness regarding healthy diet, increasing demand for proteins as nutritional and functional ingredients and growth of the functional food & beverage industry are the key factors contributing to high CAGR of Protein Ingredients market during the forecast period.
According to the current analysis of Reports and Data, the global Protein Ingredients market was valued at USD 29.18 Billion in 2018 and is expected to reach USD 52.31 Billion by the year 2026, at a CAGR of 7.6%. The factors driving the growth of the protein ingredients market are the increasing demand for protein functionalities, increasing about healthy diet & nutritional food, and growing demand for superior personal care and healthcare products. A noticeable global trend in the market is the demand for purer products with reduced processing that has led to the development of native whey and micellar casein. The growing preference for convenience foods and nutrient-rich fortified food is another factor fueling the demand for protein ingredients.
These ingredients are essential for body functioning since proteins are the primary source of fuel. They can be obtained from plants as well as animals. Plant proteins are usually obtained from wheat, pea, and soy and are used for texturizing vegetable proteins. Plant proteins help in fighting diabetes and obesity effectively. Animal proteins are widely used as protein supplements for muscle building. Along with this, the enormous demand for animal proteins, and growing awareness about healthy eating and fitness are majorly propelling expansion in the global protein ingredients market. Apart from this, the growth of the global protein ingredients market is further bolstered by the increasing use of soy isolates and the rate of consumption of eggs and caseinates. Moreover, cost sensitivity associated with the production of protein-rich products negatively impacts the growth of the global protein ingredients market. However, rapidly launching pocket-friendly protein supplement products is expected to help the growth of the market during the forecast years.
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Further key findings from the report suggest
- The increasing demand for processed as well as functional food products are expected to boost the demand for protein ingredients. The rising consumer awareness about the health benefits of these products along with the increasing use of sports & energy supplements is expected to fuel the growth of protein ingredients market.
- The rising demand for functional foods containing protein-based ingredients is due to increasing incidences of health-related issues. This inturns fosters the demand during the forecast years. The market is further driven by the availability of vegan, vegetarian, and gluten-free products.
- The increasing fitness trend among health-conscious consumers, coupled with the role of protein-rich foods in muscle building and weight management, is stimulating market growth.
- The Asia Pacific region is projected to register the fastest growth at CAGR of 8.8%. The growth in this region is mainly driven by growing exports and increasing domestic demand for these ingredients in the region.
- Based on application, the food & beverage segment dominated the protein ingredients market in 2018; owing to the growing health consciousness among consumers. The shift in consumer preference on healthy diets with low-fat and highly nutritious value food leads to a high demand for protein ingredients.
- The fluctuating raw material prices along with stringent rules and regulations limit the market growth during forecast years
- Key participants include ADM, DuPont, Gelita, Omega Protein Corporation, Kewpie Corporation, among others.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Protein Ingredients market on the basis of source, form, application, and region:
Source (Revenue, USD Billion; 2016–2026)
- Animal
- Dairy
- Milk
- Whey
- Egg
- Gelatin
- Plant
- Wheat
- Vegetables
- Soy
- Soy Protein Concentrates
- Soy Protein Isolates
- Textured Soy protein
Form Type (Revenue, USD Billion; 2016–2026)
- Dry
- Liquid
Application (Revenue, USD Billion; 2016–2026)
- Food & Beverages
- Pharmaceutical
- Feed
- Cosmetics & Personal Care
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Regional Outlook (Revenue in USD Billion; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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