According to the latest report by IMARC Group, titled, “Protein Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global protein ingredients market size reached US$ 37.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.3 Billion by 2027, exhibiting a CAGR of 5.57% during 2022-2027.
Protein ingredients are obtained from various sources and help in building and repairing muscles and bones. They also assist in reducing muscle loss, building lean muscles, maintaining a healthy weight, and curbing hunger pangs. Apart from this, they help in improving the texture of hair and reducing breakage and split ends. As protein ingredients also aid in reducing the risk of chronic disease, regulating weight, and improving physical strength, they are increasing being included in different food products and beverages.
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Protein Ingredients Market Trends and Drivers:
At present, the growing global population and the rising prevalence of protein deficiency diseases, such as kwashiorkor and marasmus, represent one of the key factors positively influencing the market worldwide. In addition, the growing consciousness of people about overall wellbeing and health and fitness is catalyzing the demand for protein-rich food products, such as lentils, cheese, peanuts, almonds, milk, yogurt, and tofu. Moreover, the emerging adoption of veganism is offering lucrative opportunities to leading market players to introduce vegan protein supplements. This, in confluence with the easy availability of food items across various e-commerce websites, is creating a favorable market outlook. Furthermore, the expansion of fitness centers is impelling the growth of the market across the globe.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Cargill, Inc.
- Archer-Daniels-Midland Company
- Kerry Group
- Omega Protein Corporation
- Mead Johnson.
Protein Ingredients Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented the market based on product type and application.
Breakup by Product Type:
- Animal Proteins
- Egg Protein
- Whey Protein
- Gelatin
- Casein
- Milk Protein Concentrates/Isolates
- Plant Proteins
- Wheat Protein
- Soy Protein
- Pea Protein
- Others
Animal proteins currently hold the majority of the market share due to the increasing consumption of meat, chicken, seafood, and various animal by-products around the world.
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Animal Feed
Food and beverages represent the largest market segment due to the escalating demand for foods and beverages prepared with protein ingredients on account of the increasing global population.
Regional Insights:
- Europe
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Europe exhibits a clear dominance in the market due to the rising awareness among the masses about leading a healthy lifestyle and the benefits of protein in maintaining overall health and development.
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