Protein Ingredients Market Is Expected To Grow At A CAGR of 7% from 2016 to 2024: Grand View Research, Inc.

The global protein ingredients market is expected to reach USD 48.77 billion by 2025, according to a new report by Grand View Research, Inc. Rising market acceptance, especially in dietary supplements and functional foods is expected to drive protein ingredients demand over the next nine years. Scientific research and studies have proven the health benefits associated with the intake of protein rich diet.

Rising consumer preference for healthy diet has resulted in augmented demand for protein ingredients in the past few years. This trend is expected to remain strong in the near future as consumers look for healthier and sustainable options.

Heightened consumer awareness regarding the health benefits of protein rich diet in developing countries has fueled the demand for protein ingredients. Furthermore, economic development coupled with increased purchasing power in China, India, South Korea, and South East Asian countries is projected to positively impact the growth of protein ingredients market over the forecast period.

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Further key findings from the report suggest:

• The global demand for protein ingredients was around 4,500 kilo tons in 2015 and is expected to reach over 8,000kilo tons by 2025, growing at a CAGR of 6.2% from 2016 to 2025
• Plant proteins accounted for over 40% of global volumes in 2015, and is expected to grow over the next nine years on account of increasing consumer inclination towards vegetarian products
• Egg protein segment has dominated the animal proteins segment in 2015, accounting for over 43% of global animal proteins market volume owing to rising demand in bakery, snacks, and dietary supplements
• Whey protein concentrates and milk protein concentrates were the other key segments of the animal proteins market in 2015 on account of growing health awareness among consumers
• Food & beverage was the highest revenue generating segment of the protein ingredients market growing at a CAGR of over 5% from 2016 to 2025 due to rising population in developing countries
• Europe was the second largest market for protein ingredients in 2015, accounting for over 30% of the global consumption owing to growth of personal care & cosmetics sector in France, Germany and UK

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Grand View Research has segmented the global protein ingredients market on the basis of product type, application and region:
Protein Ingredients Type Outlook (Volume, Kilo tons; Revenue, USD Million; 2014-2025)

·         Plant proteins

·         Animal proteins

Plant Protein Ingredients Product Outlook (Volume, Kilo tons; Revenue, USD Million; 2014-2025)

·         Wheat

·         Soy protein concentrates

·         Soy protein isolates

·         Textured soy protein

·         Pea

·         Canola

·         Others

Animal Protein Ingredients Product Outlook (Volume, Kilo tons; Revenue, USD Million; 2014-2025)

·         Egg protein

·         Milk protein concentrates/isolates

·         Whey protein concentrates

·         Whey protein hydrolysates

·         Whey protein isolates

·         Gelatin

·         Casein/Caseinates

Protein Ingredients Application Outlook (Volume, Kilo tons; Revenue, USD Million; 2014-2025)

·         Foods & beverages

·         Infant formulations

·         Personal care & cosmetics

·         Animal Feed

Protein Ingredients Regional Outlook (Volume, Kilo Tons, Revenue, USD Million,2014-2025)

·         North America

o    U.S.

·         Europe

o    UK

o    Germany

·         Asia Pacific

o    China

o    India

·         Latin America

o    Brazil

·         MEA

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Protein Ingredients Market Will Grow Rapidly Owing To Growing Demand For Functional Food Application Till 2020

Global protein ingredients market is projected to reach USD 33.91 billion by 2020. Growing demand for the product due to increasing application scope in the end-use application including functional foods is expected to propel growth.
Rising consumer awareness regarding functional foods and dietary supplements and functional foods has played a critical role in market growth. In addition, rising health awareness among consumers coupled with widespread applications in cosmetic products and personal care is expected to drive market growth.
On-going research has proved protein to be the best source to keep the body fit. Protein ingredients also find use in infant formulation. Demand for such products which are high in protein content is increasing across the globe owing to their efficiency and high nutritional value.
Food & beverages application accounted for over 45% of protein ingredients market share by volume in 2013. Rising demand for nutritional supplements among consumers owing to various health benefits is projected to propel further the market growth. Furthermore, use of animal & plant protein in food products such as sour cream dips, sour cream, frozen desserts, concentrated beverage powders, and other cheese-like products is expected further augment the growth of the market.

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Further key findings from the study suggest:

·         Animal protein is expected to witness the highest growth on account of numerous health benefits supported by scientific research. Animal protein segment is projected to grow at a CAGR of 7.3% over the forecast period. Whey protein a sub category of animal proteins is beneficial for cancer patients and is expected to witness substantial growth over the forecast period.

·         Egg protein, a sub category of animal protein is the largest product segment in animal protein ingredients market. Egg protein accounted for over 40% of market volume. Egg proteins are extensively used in food & beverage products such as sports food, meat, bakery and ice creams. Egg protein is very useful in overcoming nutritional deficiencies which are expected to bolster growth over the next few years.

·         Asia Pacific is expected to gain a market share of over 20% by 2020. This growth is attributed to growing animal feed industry in countries such as China and India. Moreover, Asia Pacific is projected to witness significant gains for the ingredients in infant formulationson account of notable increase in birth rates as well rising disposable income in countries including China and India.

·         North American protein ingredients market is expected to witness substantial growth, growing at a CAGR of over 5.0% from 2014 to 2020. Rising demand for the product in the manufacturing of cold cereals, energy bars, and snacks is expected to drive demand in the region. Europe is likely to witness significant growth going forward till 2020 owing to increasing dairy production in Germany and Poland, which in turn is likely to cater to the regional demand over the forecast period.

·         The market is consolidated with key players including Mead Johnson, Solae, and Cargill accounting for 80% of the market share in 2013. Other prominent market participants include CHS Inc., Danisco, Archer Daniels Midland, Bunge, DuPont-Solae Scoular, and Cargill.

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Grand View Research has segmented the global protein ingredients market on the basis of product, application and region:
Global Protein Ingredients Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)

·         Plant protein ingredients

·         Wheat

·         Soy Protein Concentrates

·         Soy Protein Isolates

·         Textured Soy protein

·         Pea

·         Canola

·         Other

·         Animal/dairy protein ingredients

·         Egg Protein

·         Milk Protein Concentrates/Isolates

·         Whey Protein Concentrates (includes WPC 80 and WPC)

·         Whey Protein Hydrolysates

·         Whey Protein Isolates

·         Gelatin

·         Casein/Caseinates

Global Protein Ingredients Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)

·         Foods & Beverages

·         Infant formulations

·         Personal care & cosmetics

·         Animal Feed

·         Aquaculture

·         Pet food

·         Others

Global Protein Ingredients Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)

·         North America

·         Europe

·         Asia Pacific

·         RoW 

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Protein Ingredients Market To 2020 – Industry Share, Regional Outlook, Application Analysis: Grand View Research, Inc.

Global Protein Ingredients Market is expected to reach USD 33.91 billion by 2020, according to a new study by Grand View Research, Inc. Global protein ingredients market is expected to witness significant growth on account of increasing demand as functional foods in the food & beverage industry. Protein fortification is a key imperative to meet global nutritional deficiency challenges. Moreover, protein ingredients are used extensively in infant formulations and personal care & cosmetics products. Demand for these products is increasing globally owing to their efficiency and high nutritional value.
Food & beverages constituted the largest application, accounting for over 45% of protein ingredients market share in 2013. Growing nutritional supplements demand among consumers owing to various health benefits is anticipated to have a positive impact on the market. Furthermore, technological advancements have allowed the use of plant & animal/dairy proteins in other food products including concentrated beverage powders, frozen desserts, sour cream, sour cream dips and other cheese-like products.

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 Global protein ingredients market volume by application, 2012-2020 (Kilo Tons)

Further key findings from the study suggest:

• Animal proteins was the largest product segment accounting for over 70% of protein ingredients revenue share in 2013 and is expected to witness the fastest growth on account of strong scientific evidence supporting health benefits. The market was valued at USD 15.23 billion and is expected to grow at a CAGR of 7.3% from 2014 to 2020. Whey proteins are beneficial for cancer patients and are expected to positively impact market growth over the forecast period.
• Egg protein was the largest product segment in the animal protein ingredients market accounting for over 40% of global volume. Egg protein is fortified into food & beverage products including bakery, ice creams, sports foods and meats as it aids in overcoming nutritional deficiencies.
• Food & beverage application of the protein ingredients market accounted for 49.9% of the global market owing to increasing use in the manufacturing of protein supplements and low-fat beverages. The global plant & animal/dairy protein ingredients demand in food & beverage applications was 2,048.1 kilo tons in 2013 and is expected to grow at a CAGR of 5.7% from 2014 to 2020.
• Asia Pacific is expected to gain significant share and exceed 20.0% by 2020 on account of growing animal feed industry in India and China. North America was the largest regional consumer accounting for over 35% of global market in 2013. North America protein ingredients market exceeded 1,500 kilo tons in 2013 and is likely to grow at a CAGR of 5.4% from 2014 to 2020 in light of increasing consumption of energy bars, cold cereals and snacks.
• Key market participants include DuPont Solae, CHS Inc, Danisco, Scoular, Archer Daniels Midland, Bunge and Cargill. Global protein ingredients market is consolidated in nature with major participants including Mead Johnson, Solae and Cargill accounting for 80% of the market share in 2013. Product innovation and strategic alliances are expected to be critical success factors for the market. Continuous supply of soy, pea, wheat and canola by raw material suppliers is ensured from agriculture based economies including Brazil, India, China and the U.S.

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