Protein Ingredients Market to Grow at 6.0% CAGR to 2025 Overview by Food & Beverages, Feed, Pharmaceuticals, Cosmetics, Personal Care Products Applications
Protein ingredients market is driven by factors such as the increasing demand for protein functionalities, awareness about healthy diet & nutritional food, new technological development in the protein ingredients industry, growth in demand for superior personal care and healthcare products, and increase in consumption of animal by-products.
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The global protein ingredients market size is projected to grow from USD 49.8 billion in 2019 to USD 70.7 billion by 2025, at a CAGR of 6.0% during the forecast period. The food & beverage segment dominated the application of protein ingredients market in 2018. These functional properties enable manufacturers to lower their raw material costs, as they act as substitutes to some food additives and are used to impart specific properties.
“Rise in awareness about healthy diets and nutritional food is projected to drive the growth of the protein ingredients market.”
Europe is projected to hold largest protein ingredients market share during forecast period due to high consumption of animal protein. Consumption is more than twice global average. Moreover, many countries in the Eastern European region are growing rapidly increasing the protein demand as well as demand for processed food which is driving the market.
Study covers the protein ingredients market across segments. It aims at estimating the market size and its growth potential across different segments such as application, form, source, and region. The study also includes an in-depth competitive analysis of key players in the market; along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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The dry form of protein ingredients is largely preferred by manufacturers of food & beverage, feed, and pharmaceutical products as they have better stability and ease of handling & storage, as compared to the liquid form. Furthermore, they have a longer shelf life compared to the liquid form. Dry forms of animal- and plant-based protein ingredients are widely used.
The food & beverage segment dominated the application of protein ingredients market in 2018. Growing health consciousness and obesity has compelled consumers to increasingly focus on healthy diets with low-fat and highly nutritive value food, leading to a rise in consumption of protein ingredients.
The major vendors in the global protein ingredients market include Cargill (US), ADM (US), DowDuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), Friesland (Netherlands), Fonterra (New Zealand), Arla Foods (Denmark), AMCO (US), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGARNA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), and Burcon Nutrascience (Canada).
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In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, protein ingredients manufacturers, and executives from various key organizations operating in the protein ingredients market.
- By Company Type: Tier 1: 70%, Tier 2: 20%, and Tier 3: 10%
- By Designation:C-level:10%, D-level: 50%, and Managers: 40%
- By Region: North America: 20%, Europe: 30%, Asia Pacific: 30%, and RoW: 20%
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall protein ingredients market and sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
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