Global
Protein Ingredients Market: Snapshot
The
global market for protein ingredients has been witnessing an
exponential proliferation over the last few years, thanks to the
rising popularity of soy and pea proteins among consumers. The rising
demand for eggs and dairy products is also supporting the growth of
this market considerably. Over the coming years, the increasing
consumer demand for ‘purer’ products with low processing is
influencing the development of new products such as micellar casein
and native whey, which is likely to drive this market substantially.
Apart
from this, the rising uptake of protein
ingredients in food and beverage products and the growing
preference of consumers for fortified foods and foods enriched with
protein ingredients is also projected to add to the progress of this
market in the near future. However, the relatively lower consumption
of plant proteins and the increasing concerns over the harmful
effects of gelatin may limit the progress of this market over the
next few years.
The
opportunity in the global market for protein ingredients is projected
to expand significantly at the CAGR of 6.50% between 2017 and 2027,
rising from a value of US$31.8 bn in 2016 to US$64.35 bn by the end
of 2027.
Animal
Protein to Continue Reporting High Demand
On
the basis of the type of product, the global protein ingredients
market is classified into plant and animal proteins. Holding 80% of
the overall market animal protein led the global market in 2016 and
is anticipated to maintain this over the forthcoming years, thanks to
the rising consumption of eggs and dairy products across the world.
The high prices of eggs and dairy products are also supporting this
segment in registering high growth.
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Soy,
wheat, and pea are the key plant proteins available across the world
while whey protein, casein and caseinates, egg protein, and gelatin
are major animal proteins. Among these, the demand for soy protein is
likely to increase at an exceptional rate in the years to come, owing
the augmenting usage of soy isolate, concentrates, and texturized
vegetable proteins.
Based
on the form, the market is categorized into isolate and concentrate.
Protein concentrates account for a higher share than isolates and are
expected to continue likely this over the next few years, thanks to
their wide base of consumer application.
North
America to Retain Lead in Global Protein Ingredients Market
Regionally,
the Middle East and Africa, North America, Latin America, Europe, and
Asia Pacific are considered as the main segments of the worldwide
market for protein ingredients. North America led the overall market
in 2016 with a revenue contribution of US$11.96 bn. Analysts expect
the scenario to remain so in the near future. The increasing health
consciousness and awareness about the positive effect of protein
consumption on health is anticipated to boost this regional market
over the next few years.
Europe
is another thriving regional market for protein ingredients. However,
owing to maturation, it is likely to lose some shares to Asia Pacific
and Latin America in the years to come. Asia Pacific, on the other
hand, is expected to be proved highly lucrative for market players in
the near future due to the increasing industrial growth, rising
disposable income, and the growing population.
Solae
LLC, Archer Daniels Midland Co., Cargill Inc., Glanbia Plc,
FrieslandCampina DMV B.V., Kerry Group Plc, Arla Food Ingredients,
ROQUETTE FRERES S.A., Davisco Foods International Inc., and Sterling
Biotech Ltd. are some of the leading vendors of protein ingredients
across the world.
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