According to the latest report by IMARC Group, titled, “Protein Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global protein ingredients market size reached US$ 37.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2027, exhibiting a CAGR of 5.57% during 2022-2027.
Protein forms an important component of the human body. It repairs tissues and is an essential building block of bones, muscles, cartilage, skin, and blood. A balanced consumption of protein offers several benefits, owing to which it forms an essential part of the daily diet. Protein ingredients consist of large molecules of amino acids that assist in regulating weight, improving immunity and physical strength, and reducing muscle loss. As a result, they are extensively utilized across various industries including food and beverages in the production of dairy and bakery products, infant formula, beverages, and dietary supplements.
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Protein Ingredients Market Trends and Drivers:
Owing to the increasing prevalence of obesity, diabetes and malnutrition amongst the masses, there has been a rise in the number of health-conscious consumers across the globe. As a result, protein-rich food and beverages such as dietary supplements and sports nutrition products, which offer the right amount of protein nutrition, are constantly gaining popularity. Moreover, an increasing number of health and fitness clubs on a global level also acts as a major growth-inducing factor. This, in confluence with the growing demand for soy proteins in snacks and dairy products, is providing impetus to the market growth. Furthermore, with changing lifestyles, the preparation of conventionally protein-rich products has become difficult. On the other hand, protein ingredients products are easy to cook and can be consumed on-the-go, which is contributing significantly to their demand.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Cargill, Inc.
- Archer-Daniels-Midland Company
- Kerry Group
- Omega Protein Corporation
- Mead Johnson.
Protein Ingredients Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on product type and application.
Breakup by Product Type:
- Animal Proteins
- Egg Protein
- Whey Protein
- Gelatin
- Casein
- Milk Protein Concentrates/Isolates
- Plant Proteins
- Wheat Protein
- Soy Protein
- Pea Protein
- Others
Animal proteins currently hold the majority of the market share due to the increasing consumption of meat, chicken, seafood, and various animal by-products around the world.
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Animal Feed
Food and beverages represent the largest market segment due to the escalating demand for foods and beverages prepared with protein ingredients on account of the increasing global population.
Regional Insights:
- Europe
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Europe exhibits a clear dominance in the market due to the rising awareness among the masses about leading a healthy lifestyle and the benefits of protein in maintaining overall health and development.
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