Newark, NJ, May 26, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global protein ingredients market is expected to grow from USD 43.86 billion in 2019 to USD 85.48 billion by 2027, at a CAGR of 8.7% during the forecast period 2020-2027. North America constitutes is the dominant segment. The food and beverages industry is massive in the region, and the spending capacity is also substantial as the per capita income is high. Further, the people are more inclined towards the consumption of protein-rich food. However, Asia-Pacific is expected to grow at an impressive rate. The demand for protein-rich food has increased in the recent years.
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Key players in the protein ingredients market are Mead Johnson, DuPont, Cargill, Bunge, Glanbia Plc., Archer Daniels Midland Co., Kerry Group Plc., Solae LLC and others. Cargill invested a total of 75 million dollars in PURIS Pea protein at the Minneapolis facility. This was an initiative to cope up with the increased demand for protein.
The form segment includes dry and liquid form. The dry form is more stable than the liquid form. Therefore, it constitutes a significant market share. Dry form is extracted with the help of downstream processes. It contains the right amount of moisture content as well as protein concentration in the products. Further, the dry form is easy to handle and store and have a greater shelf life as compared to the liquid form. The source segment includes animal protein and plant protein. The animal proteins are derived from dairy, egg protein, whey protein, casein and caseinates, milk protein and gelatin. The plant proteins are derived from wheat protein, soy protein, pea protein and vegetable. The demand for animal protein constitutes a major share of the market. The increase in consumption of dairy products and meat 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 constitutes the majority shares of the segment. The sport and fitness industry has an increasing demand for concentrates because they provide much energy to the consumer. The application segment includes food and beverages, animal feed, pharmaceutical, supplements and nutritional powder, personal care and cosmetics, infant formulations and others. Among these, food and beverages has the major market share. The protein ingredients are widely used in food and beverages. They are used in bars and bakery products. The demand for protein-rich food and drinks are increasing over the years for fulfilling the energy needs and maintaining a healthy diet.
Protein ingredients are majorly consumed by the sport athletes. It is essential for building up the muscles and repairs the damaged tissues. The demand for nutritious food is increasing among consumers. The manufacturers are expanding their capacity in order to cope with the increasing demand. There are several issues which require additional intake of protein. People those are suffering from lactose intolerant need protein for nutritional value.
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About the report:
The global protein ingredients market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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