Protein Ingredients Market 2024| In-depth Research Report
Growing consumer health concerns due to various diseases such as cardiovascular and diabetes should drive product demand. Regulatory approval by EU and FDA across various applications along with wide product acceptance should fuel industry growth. Protein Ingredient Market size is forecast to surpass USD 40 billion by 2024; according to a new research report by Global Market Insights, Inc.
U.S. protein ingredients market size from food & beverage application expects gains at over 5.5% during the foreseeable future. Rising consumer awareness towards dietary supplements importance accompanied with strong application scope in food & beverage industry should drive regional product demand. This region is expected to grow owing to new product launch and strong innovation trends.
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Plant sources include rice, pea, canola, wheat, and soy. Whereas, dairy or animal sources are extracted from fish, gelatin, milk, egg, and meat. Advancement in technology has provided hydrolysates, concentrates, and isolates extraction in animal and plant application base.
Soy protein isolates should witness strong gains and surpass USD 2.8 billion by 2024.Tight soybean supply due to demand from alternative applications and channels can affect protein ingredient market price trend.
Cardiovascular health, muscle binding, obesity, and diabetes are key binding benefits offered by these products. Increasing spending on research by companies to enhance product portfolio should create growth avenues for various industry players.
Europe protein ingredient market size from infant formulations should witness steady gains and surpass USD 2.5 billion at the end of forecast period. Favorable government guidelines will strengthen provision for infant formula and thereby drive regional industry growth.
Asia Pacific, led by Japan and China egg protein ingredient market size, should witness gains at over 7.5%. These products are majorly used in food & beverages applications which include meats, sports foods and baked goods.
Soy concentrates across Asia Pacific protein ingredient market size will witness significant gains. Rising awareness accompanied with growing application scope towards pet foods for pigs and calves to replace milk will drive demand.
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Pea protein ingredient market size should witness over 10% gains. They are majorly used sports & nutraceutical applications owing to the growing health conscious consumer base owing to the increasing concerns towards week immunity and obesity issues.
Dry pea production, Canada, U.S., China, India, and Russia led the industry, while France, China, India, U.S., and Russia are major wheat producers. Wheat is used as a staple cereal in food industry may face supply dynamics for protein extraction applications.
Global protein ingredient market share is consolidated with companies operating in this industry includes Cargill, Bunge, DuPont, Mead Johnson, ADM, Scoular, Roquette, Burcon, Fonterra, Rouseelot, Kewpie Egg Corporation, NutraScience, Crop Energies Bio Wanze, and Tessenderlo.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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