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Protein Ingredients Market - Forecasts from 2022 to 2027

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  • 148 Pages
  • July 2022
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5649180
The protein ingredients market is evaluated at US$51.428 billion for the year 2020, growing at a CAGR of 4.51% reaching a market size of US$70.035 billion by the year 2027.

The market for protein ingredients is projected to grow at a significant rate, which is primarily attributed to the fact that the growing awareness among the millennials about a healthy and nutritious diet has led to increased consumption of functional foods and beverages. Also, increased consumption of dietary supplements due to health benefits associated with it is projected to positively drive the demand for protein ingredients over the next five years. Moreover, the wide applications of protein ingredients and the manufacturing of superior personal care and cosmetic products coupled with the promising growth of the cosmetics industry are the additional factors for the positive growth of the protein ingredients market over the next five years.

The growing participation by food companies in the R&D investments for the launch of new and enhanced foods with high protein content further expands the business growth opportunities for the market players over the next five years. The market is also expected to witness significant growth on account of the growing consumption of plant-based protein products. Hence, growth in the vegan population globally will further supplement the demand for plant-based protein ingredients until the end of the forecast period. The protein ingredients market has been segmented based on source, application, and geography.

The outbreak of the novel coronavirus disease is expected to amplify the market growth at a significant rate, especially during the short run of eight to ten months. This is attributed to the fact that there has been an increased awareness among consumers across both developed and developing economies to boost their immunity to mitigate the risk of infection. This is further expected to increase the consumption of dietary supplements and nutritional food products. Thus, boosting the market growth in the short run.

The plant-based protein ingredients market is showing promising growth.

By source, the protein ingredients market has been classified into plant and animal. The plant-based segment is anticipated to grow at a noteworthy CAGR until the end of the forecast period. The growing vegan population, coupled with changing perceptions regarding the safety of animals, are some of the key factors supplementing the growth of this segment. Moreover, the ability of plant-based proteins to offer similar nutritious values to animal-based ingredients is also a key factor supporting the growth of this segment during the coming five years. However, the animal protein ingredients market is anticipated to hold a healthy share in the market throughout the forecast period owing to wide applications and high consumption due to higher protein content than plant-based alternatives.

Food and beverages will hold a significant market share.

By application, the classification of the market has been done as food and beverages, dietary supplements, infant formulations, and others. The food and beverages segment is projected to hold a significant share of the market until the end of the forecast period. The growing awareness among consumers coupled with the growing prevalence of chronic diseases such as obesity, diabetes, and others has further led to an inclination of consumers’ propensity to spend on nutritious and healthy food products. The booming consumption of functional foods and beverages will further play a significant role in shaping upmarket growth in the near future. The growth of this segment is also bolstered by the growing market for RTD protein beverages. The growing millennial population in both developed and developing economies, coupled with the increased focus on a healthy diet, has further led to increased consumption of dietary supplements. This further positively impacts the market growth of protein ingredients for their applications in these supplements.

The Asia-Pacific region is witnessing lucrative growth opportunities. Geographically, the distribution of the global market has been done in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The North American region is expected to hold a significant share in the market which is on account of the presence of a greater proportion of the health-savvy population in countries like the United States and Canada. Moreover, the presence of key players in the market in the region further supplements the share during the next five years. However, on the other hand, the protein ingredients market in the Asia Pacific region is expected to grow at a notable compound annual growth rate during the coming five years. The key factors bolstering the growth in the region include the growing focus of the people on healthy diets, coupled with the growing middle-class population and the increasing purchasing power of the people.

Participation by market players

The market players are actively participating in the form of increased investments in R&D for the launch of new products to expand their market share and meet the growing end-use requirements.
  • In September 2020, ADM announced the launch of textured pea- and wheat-protein ingredients for meat alternatives. The new products included Prolite MeatTEX (textured wheat protein), Arcon T (textured pea proteins), and Prolite (MeatXT non-textured wheat protein). These three products are highly functional proteins developed to enhance the density and texture of meat substitutes.
  • In July 2020, DuPont announced the launch of a new plant-based ingredients portfolio for the co-creation of dairy and meat alternatives.
  • In November 2021, Royal DSM announced its acquisition of Vestkorn Milling, Europe's leading bean and pea-derived ingredients producer for plant-based protein products. The €65 million worth acquisition was another step in DSM's strategy to develop an alternative protein solution. Furthermore, this will complement DSM's innovative CanolaPROTM rapeseed protein isolate, which will be commercially launched next year, according to the company.
  • In November 2021, a global supplier of functional ingredients, FrieslandCampina Ingredients & solutions, forayed into the plant-based protein market with its two powder solutions. These new solutions were developed in partnership with AGT Foods, a global staples, pulses, and other ingredients provider and supplier. The new Plantaris line of light, cream-colored proteins - Plantaris Faba Isolate 90 A and Plantaris Pea Isolate 85A - was particularly developed to have appealing flavors while avoiding the off-notes that otherwise make consumers find unappealing in pea proteins.

COVID-19 Impact:

Covid-19 had a significant impact on the protein ingredients market. The global pandemic increased health awareness, facilitating the change in the dietary habits of many citizens across the world. The consumption of healthy food and immune boosters increased drastically. Similarly, the demand for protein ingredients and supplements increased. However, the lack of staffing due to the rise in infected cases and lockdown coupled with travel restrictions created a gap in demand and supply chain.

Competitive Insights

Prominent/major key market players in the protein ingredients market include Cargill, ADM, and Kerry Group, among others. The players in the protein ingredients market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies. The report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the protein ingredients market.

Market Segmentation

By Source

  • Plant
  • Animal

By Application

  • Food and Beverages
  • Dietary Supplements
  • Infant Formulations
  • Personal Care and Cosmetics

By Form

  • Isolates
  • Concentrates
  • Hydrolyzed

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Europe
  • Germany
  • France
  • Italy
  • UK
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia

Table of Contents

1. Introduction
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Protein Ingredients Market Analysis, by Source
5.1. Introduction
5.2. Plant
5.3. Animal
6. Protein Ingredients Market Analysis, by Application
6.1. Introduction
6.2. Food and Beverages
6.3. Dietary Supplements
6.4. Infant Formulations
6.5. Personal Care and Cosmetics
6.6. Others
7. Protein Ingredients Market Analysis, by Form
7.1. Introduction
7.2. Isolates
7.3. Concentrates
7.4. Hydrolyzed
8. Protein Ingredients Market Analysis, by Geography
8.1. Introduction
8.2. North America
8.2.1. North America Protein Ingredients Market, By Source, 2020 to 2027
8.2.2. North America Protein Ingredients Market, By Application, 2020 to 2027
8.2.3. By Country USA Canada Mexico
8.3. South America
8.3.1. South America Protein Ingredients Market, By Source, 2020 to 2027
8.3.2. North America Protein Ingredients Market, By Application, 2020 to 2027
8.3.3. By Country Brazil Argentina Others
8.4. Europe
8.4.1. Europe Protein Ingredients Market, By Source, 2020 to 2027
8.4.2. Europe Protein Ingredients Market, By Application, 2020 to 2027
8.4.3. By Country Germany France UK Italy Others
8.5. Middle East and Africa
8.5.1. Middle East and Africa Protein Ingredients Market, By Source, 2020 to 2027
8.5.2. Middle East and Africa Protein Ingredients Market, By Application, 2020 to 2027
8.5.3. By Country Saudi Arabia UAE Others
8.6. Asia Pacific
8.6.1. Asia Pacific Protein Ingredients Market, By Source, 2020 to 2027
8.6.2. Asia Pacific Protein Ingredients Market, By Application, 2020 to 2027
8.6.3. By Country China India Japan South Korea Australia Indonesia Others
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Cargill, Incorporated
10.2. DuPont de Nemours, Inc.
10.3. ADM
10.4. Bunge Limited
10.5. Kerry Group plc
10.6. Roquette Frères
10.7. The Scoular Company
10.8. Burcon
10.9. FrieslandCampina Ingredients
10.10. Kewpie Corporation

Companies Mentioned

  • Cargill, Incorporated
  • DuPont de Nemours, Inc.
  • ADM
  • Bunge Limited
  • Kerry Group plc
  • Roquette Frères
  • The Scoular Company
  • Burcon
  • FrieslandCampina Ingredients
  • Kewpie Corporation



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