The protein ingredients market is estimated to be valued at USD 27.5 Bn in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach a valuation of USD 47.4 Bn by 2032, rising at a CAGR of 5.6% for 2022-32.
By 2019 end, worldwide sales of protein ingredients, contributed by both animal protein ingredients and plant protein ingredients, will roughly account for the value of US$ 43 Bn. Demand for animal-based protein ingredients continues to be more as compared to that for plant-based protein ingredients, clearly owing to wider availability of products and nutritional profile in case of the former.
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Consumption of protein-rich diet, particularly as a part of sports nutrition, is bolstering sales of protein ingredients in global market. A continuing R&D opportunity in sports nutrition in line with the plant-based dietary trend. Demand for protein ingredients is thus increasing.
Key Takeaways – Protein Ingredients Market Study
- Demand for ready-to-drink (RTD) beverages is increasing among the working consumers. For RTD beverages, key to success of innovation is in the beverage itself. Trends in past five years have made it evident that using vibrant colors and innovative packaging can help sell the beverage. Consumer awareness for health and wellness, demand for clean label and functionality are some of the contributing factors to increasing the demand for RTD beverages.
- Manufactures of supplement and nutritional bars are launching unique products with additional nutritional profile and various flavours that attract customers and demand for these products is expected to increase ~8% during the forecast period.
- Whey protein concentrate undergoes different processing as compared to isolate and hence, protein ingredient isolates have fewer carbohydrates, fats, lactose and it is highly nutritional. Isolate form of whey is typically more expensive. Taking slightly more amount of concentrates are proven to give similar results as that of isolates at lower cost.
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- Egg and egg-based products have been versatile and multifunctional in both specialty and regular food. Egg protein works efficiently with gluten-free formulations, are easily digestible and provide nutritional functionalities. Thus, helping the food formulators to develop gluten-free products.
- Increasing consumption of food and beverage products including bakery, dairy, meat, poultry products, and breakfast cereals in developing economies and economies in transition is fuelling the global protein ingredients market.
- Due to increasing urbanization and awareness of mindful living, the consumption of protein ingredients is increasing in the Asia Pacific and Latin America.
The prevalence of diseases caused due to obesity is increasing at an alarming rate. A sizeable chunk of the population is turning health-conscious and remains focused on the consumption of protein-rich foods on a routine basis. This has been a major booster to the growth of protein ingredients market.
Manufacturers are concentrating on Flavored Healthful Innovations
Rising demand for protein ingredients and an increasing number of small, medium and large scale manufacturers across the world are the reasons for growing the intensive competition in the protein ingredients market. To sustain the position in protein ingredients market companies are manufacturing high-quality protein ingredients with multiple benefits.
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The manufacturers are investing in research and development to launch innovative and unique protein ingredients based products. Manufacturers are launching multiple flavors of supplements and nutritional powders and beverages which attracts the consumers. Manufacturers are launching plant protein ingredients products for vegan and vegetarian consumers.
Find More Insights on Protein Ingredients Market
Future Market Insights, in its new offering, brings to fore an unbiased analysis of the global protein ingredients market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the protein ingredients market on the basis of product type (animal protein and plant protein), application (supplements and nutritional powder, beverages, protein and nutritional bars, bakery and confectionery, breakfast cereals, meat and meat products, dairy products, infant nutrition, animal feed and others), form (isolate, concentrates and others), across five major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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