With
a large pool of players, the competitive landscape of the global
market for protein ingredients is highly diversified, finds a new
report by Transparency Market Research (TMR). The top three
partcipants, namely, Cargill Inc., Glanbia Plc, and Kerry Group Plc.
held a share of 38% in the overall market in 2015. Product innovation
is the key strategy adopted by the leading players in this market for
their business growth. With the increasing number of new entrants,
the competition within the market is likely to intensify over the
next few years, states the research report.
According
to the study, the overall opportunity in the global market for
protein
ingredients
was US$31.8 bn in 2016, which is anticipated to rise at a CAGR of
6.50% during the period from 2017 to 2027 and reach a value of
US$64.35 bn by the end of the forecast period. Animal proteins enjoy
a higher demand compared to plant protein and this trend is expected
to remain so over the forthcoming years, notes the study.
Infant
Nutrition Products and Protein and Nutritional Bars to Register High
Demand
The
report considers supplements and nutritional powders, beverages,
protein and nutritional bars, bakery and confectionery, breakfast
cereals, meat and meat products, dairy products, infant nutrition,
and animal feed as the key application areas for protein ingredients.
The demand for infant nutrition products and protein and nutritional
bars is expected to grow at high rates.
In
terms of the geography, the report considers the Middle East and
Africa, North America, Latin America, Europe, and Asia Pacific as the
main segments of the worldwide market for protein ingredients. In
2016, North America dominated the overall market with a revenue
contribution of US$11.96 bn. With the rising health consciousness and
the growing awareness level among consumers regarding the positive
effect of protein consumption on health this regional market is
likely to remain on the top over the next few years. Europe and Asia
Pacific are also projected to witness significant growth in their
respective market for protein ingredients in the years to come, notes
the research study.
Rising
Awareness Regarding Health and Fitness to Fuel Demand
“The
rising awareness among consumers pertaining to health and fitness has
fueled the demand various proteins, leading to a remarkable rise in
the global market for protein ingredients,” states the author of
the study. The growing popularity of soy and pea proteins and the
rising consumption of eggs and dairy products are likely to support
the growth of this market during the forecast period.
The
high usage of protein supplements by sports persons and athletes will
also reflect greatly on the demand for these ingredients in the near
future. However, the volatility in the production costs may limit the
market’s growth in the year to come, report the study.
The
study presented here is based on a report by Transparency Market
Research (TMR), titled “Protein Ingredients Market (Product -
Animal Protein (Whey Protein, Casein and Caseinates, Milk Protein,
Egg Protein, and Gelatin) and Plant Protein (Soy Protein, Wheat
Protein, and Pea Protein); Form - Isolate and Concentrate;
Application - Supplements and Nutritional Powders, Beverages, Protein
and Nutritional Bars, Bakery and Confectionery, Breakfast cereals,
Meat and Meat Products, Dairy Products, Infant Nutrition, and Animal
Feed) - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2017- 2027.”
The
global protein ingredients market is segmented into:
By
Product Type
- Animal Protein
- Whey Protein
- Casein and Caseinates
- Milk Protein
- Egg Protein
- Gelatin
- Plant Protein
- Soy Protein
- Wheat Protein
- Pea Protein
- Others
By
Form
- Isolate
- Concentrate
- Others
By
Application
- Supplements and Nutritional Powders
- Beverages
- Protein and Nutritional Bars
- Bakery and Confectionery
- Breakfast cereals
- Meat and Meat Products
- Dairy Products
- Infant Nutrition
- Animal Feed
- Others
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