The Protein Ingredients Marketsize was estimated to be valued at USD 52.5 billion in 2020. It is projected to reach USD 70.7 billion by 2025, recording a CAGR of 6.1%, in terms of value. The major factors driving the protein ingredients market include the increase in demand and consumption of functional food & beverages, growing consumer awareness about healthy diets among people, and increasing demand for protein as nutrition and functional ingredients.
By source, the animal segment is projected to account for a larger share in the protein ingredients market during the forecast period
The global market, by source, has been segmented into plant and animal. The animal segment is projected to dominate the market during the forecast period owing to its better nutritional profile than plant protein, its dominant usage in a larger number of end-use applications such as functional beverages, and difficulty in substituting egg and gelatin in bakery and confectionery applications.
By form, the dry segment is projected to grow at a higher rate in the protein ingredients market during the forecast period
The global market, by form, has been segmented into dry and liquid. The dry form is projected to grow at a higher CAGR during the forecast period. This form of protein ingredients is largely preferred by manufacturers of food & beverage, feed, and pharmaceutical products as they have better stability and ease of handling & storage compared to the liquid form. Furthermore, they have a longer shelf life compared to the liquid form.
By application, the food & beverage segment is projected to account for the largest market share in the protein ingredients market during the forecast period
The rising health consciousness and obesity have compelled consumers to increasingly focus on healthy diets with low-fat and highly nutritive value food, leading to a rise in the consumption of protein ingredients. As a result, the demand for functional and healthy food is on the rise.
The European market accounted for the largest share in the protein ingredients market. This dominance is attributed to the high consumption in this region. The consumption in Europe is more than twice the global average consumption. The high-protein trend in food & beverages and personal care & cosmetics is gaining a foothold in Germany, as protein claims on food and drink launches continue on their growth path.
Key players in this market include Cargill (US), ADM (US), DuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), FrieslandCampina (Netherlands), Fonterra Co-operative Group Limited (New Zealand), Arla Foods (Denmark), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGRANA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), Burcon Nutrascience (Canada), Rousselot (Netherlands), Foodchem International Corporation (China), A&B Ingredients (US), and Reliance Private Label Supplements (US).
