Global Protein Ingredients Market size was valued at USD 77.69 billion in 2022 and is expected to grow at a revenue-based compound annual growth rate (CAGR) of 5.8% from 2023 to 2030.
The protein ingredients market is a rapidly growing segment within the food and beverage industry. Protein ingredients are derived from various sources such as dairy, soy, wheat, and others, and are used for their nutritional value, functional properties, and flavor enhancement.
The market is being driven by several factors such as the increasing demand for high-protein diets, the rise in health awareness among consumers, and the growing trend of clean-label and plant-based products. In addition, the increasing demand for animal feed and the growing use of protein ingredients in the personal care and cosmetics industry are also contributing to the growth of the market.
The global protein ingredients market is expected to witness significant growth over the next few years, driven by the increasing demand from developing countries, particularly in the Asia-Pacific region. The growing population, increasing disposable incomes, and changing dietary habits in these regions are expected to boost the demand for protein ingredients.
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Covid-19 Impact:
The COVID-19 pandemic has had a mixed impact on the protein ingredients market. While there has been a surge in demand for packaged and shelf-stable foods, there has been a decrease in demand for foodservice and other food products due to the closure of restaurants and other food establishments.
In the initial months of the pandemic, there was a temporary disruption in the supply chain of protein ingredients due to restrictions on transportation and international trade. However, the market quickly adapted to the new reality, and the supply chain has since recovered.
The pandemic has also led to a greater focus on health and wellness, which has increased the demand for protein ingredients. Consumers are increasingly seeking out products with high nutritional value, and protein ingredients have become an essential component of many health and wellness products. This trend is expected to continue post-pandemic, driving further growth in the protein ingredients market.
Market Segmentation:
By type, the protein ingredients market can be segmented into:
- Plant-based proteins: This segment includes protein ingredients derived from sources such as soy, wheat, pea, rice, and others.
- Animal-based proteins: This segment includes protein ingredients derived from sources such as whey, casein, egg, and others.
By application, the protein ingredients market can be segmented into:
- Food and beverages: This segment include protein ingredients used in products such as sports nutrition, functional foods, dairy products, bakery products, and others.
- Animal feed: This segment includes protein ingredients used in animal feed to improve the nutritional content of the feed.
- Personal care and cosmetics: This segment include protein ingredients used in personal care and cosmetic products for their nutritional and functional properties.
- Pharmaceuticals: This segment includes protein ingredients used in pharmaceutical products for their therapeutic properties.
By source, the protein ingredients market can be segmented into:
- Plant-based: This segment includes protein ingredients derived from sources such as soy, wheat, pea, rice, and others.
- Animal-based: This segment includes protein ingredients derived from sources such as whey, casein, egg, and others.
- Others: This segment includes protein ingredients derived from sources such as algae and insects, which are emerging as alternative sources of protein.
Key Player:
- Archer Daniels Midland Company
- Cargill, Inc.
- DuPont de Nemours, Inc.
- Kerry Group plc
- Ingredion Incorporated
- Roquette Frères S.A.
- Fonterra Co-operative Group Limited
- Royal DSM N.V.
- Axiom Foods, Inc.
- Tate & Lyle plc
Regional Analysis:
North America is the largest market for protein ingredients, due to the high demand for protein-rich foods and beverages. The region is also home to several key players in the protein ingredients market, which contributes to the market’s growth. Additionally, the growing trend of plant-based diets and the increasing demand for organic and non-GMO food products is driving the growth of the protein ingredients market in North America.
Europe is another significant market for protein ingredients, due to the high demand for functional and nutritional food products. The region has a well-established food and beverage industry, which drives the demand for protein ingredients. Furthermore, the growing trend of clean-label and natural food products is contributing to the growth of the protein ingredients market in Europe.
Asia-Pacific is the fastest-growing market for protein ingredients, due to the increasing population, rising disposable incomes, and changing dietary habits in the region. The growing demand for processed foods and beverages is driving the demand for protein ingredients in the Asia-Pacific region. Additionally, the trend towards plant-based diets and the increasing demand for health and wellness products is driving the growth of the protein ingredients market in the region.
The Rest of the World, which includes Latin America, the Middle East, and Africa, is also witnessing significant growth in the protein ingredients market. The increasing demand for healthy and nutritional food products, coupled with the growing food and beverage industry in the region, is driving the demand for protein ingredients. Additionally, the increasing adoption of western dietary habits and the growing trend of plant-based diets is driving the growth of the protein ingredients market in this region.
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Key Points
- The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
- Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
- Porter’s Five Force Model and SWOT analysis are used to study the global protein ingredients market and would help stakeholders make strategic decisions.
- The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
- In-depth analysis of the types of protein ingredients would help in identifying future applications in this market.
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