Global Protein Ingredients Market Driven by Demand for Plant-Based Proteins
by Zayn Mathew Market Research ReportsProteins are crucial constituents of cells, and
aid in healing and repairing the human body, mitigating the risk of chronic
diseases, improving physical strength, regulating weight, and lowering muscle
loss. Protein ingredients can be acquired from both plant and animal sources and
can help in maintaining the adequate protein-levels in the human body. With changing
lifestyle and shifting preferences, consumers residing in urban areas mostly
utilize these ingredients by mixing them with milk or other liquid products. In
addition, the growing health and wellness trend has also led to an increased
consumption of functional foods and beverages, and dietary supplements utilizing
protein ingredients. According to IMARC Group’s global protein ingredients market report, the market reached a
value of US$ 41 Billion in 2017.
Increasing
Vegan Population Driving Demand
Due to inflating disposable incomes, consumers
are joining gyms and fitness centers that encourage them to consume sports
nutrition products which help in building muscles and increasing immunity. As
these nutritional products consist of protein ingredients, this has catalyzed
the market growth globally. In addition, the increasing vegan population has
created a huge demand for plant protein ingredients as these restricted diets
do not provide adequate levels of proteins required by the body. Moreover, as the
production of plant proteins consumes less water, land and energy as compared
to animal proteins, it has provided a positive thrust to the plant protein ingredients market. Their
lower cost has further boosted the usage of these proteins for fortifying foods,
such as bakery products, snacks, etc. Looking forward, the global protein
ingredients market is expected to grow at a CAGR of more than 5% during 2018-2023,
reaching a value of US$ 55 Billion by 2023.
Animal
Proteins are the Popular Product Type
Animal
proteins are the most popular
type of protein ingredients, accounting for more than a half of the total
market share. They include egg protein, whey protein, gelatin, casein and milk
protein concentrates/isolates. Animal proteins are known to have a better nutritional profile as
compared to plant proteins. They
are followed by plant proteins which
include soy protein, wheat protein and pea protein.
Food and Beverage
Industry: The Largest Consumer of Protein Ingredients
On the basis of application, food and beverage industry represents
the largest segment of the global protein ingredients market due to the rising
consumption of protein-rich products. These products are also used as
texturing, emulsifying, stabilizing and binding agents in various foods and beverages.
In the personal care and cosmetics
industry, protein ingredients are utilized in a wide range of hair- and
skin-care products including shampoos, conditioners, face-packs, creams, etc.
Further, proteins form a vital component in the pharmaceutical industry as they
provide numerous health benefits, such as assisting absorption of
nutrients, maintaining weight, boosting energy levels, strengthening muscles
and bones, and controlling blood sugar levels. Apart from this, protein
ingredients consist of high levels of dietary fiber and antioxidants which are
crucial for the nutritional needs of the livestock, as a result they play an
important role in the animal feed
industry.
Europe
Enjoys the Leading Position
Europe represents the largest market, accounting for
the more than a third of the global share. This can be accredited to the expanding
weight management industry and heightened demand for sports nutrition in the
region. Other major regions include North America, Asia Pacific, Latin America,
and Middle East and Africa.
The global protein ingredients market is
fragmented in nature due to the presence of a large number of international and
regional players. However, over the past few years, the industry has seen rising
merger and acquisition activities, resulting in increased concentration of the
market. Some of the key players operating in the market include Cargill, Inc.,
Archer-Daniels-Midland Company, Kerry Group, Omega Protein Corporation and Mead
Johnson.
About
IMARC Group: IMARC Group is a
leading market research and consulting company that offers management strategy
and market research worldwide. The company has done multiple projects on the protein
ingredients industry, which has enabled the clients to successfully set up and
expand their businesses. Some of the company’s offerings include:
·
Market
Research
·
Plant
setup
·
Plant
Expansion
·
Marketing
and sales
·
Procurement
and Distribution
·
Innovation
and Product Development
For more information, please visit:
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Created on Sep 4th 2018 00:40. Viewed 837 times.