Global Protein Ingredients Market Driven by Demand for Plant-Based Proteinsby IMARC Group Market Research Reports
Proteins 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
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Created on Sep 4th 2018 00:40. Viewed 606 times.