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Food Protein Ingredients Market key players are ADM, Cargill, DuPont, Bunge, Mead Johnson Nutrition, Fonterra, Tessenderlo Group, Scoular, Rouseelot, Burcon NutraScience Corporation, KEWPIE Corporation, Roquette

08-14-2018 10:26 AM CET | Business, Economy, Finances, Banking & Insurance

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Food Protein Ingredients Market

Food Protein Ingredients Market

Food protein ingredients market has lately witnessed a profitable trajectory, pertaining to the changing relationship of consumers with food due to increasing urbanization and greater disposable incomes. Taking the rapidly increasing global populace into consideration, which incidentally according to the UN, will surpass 9.5 billion, it is rather obvious that consumption patterns will undergo an eventual change. With the changes that will follow in the dietary preferences, experts anticipate food protein ingredients industry to gain significant momentum over 2017-2024.

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Protein has come to be recognized as a healthy constituent in a balanced diet. Alongside, improving socio-economic factors have contributed toward a major transition in the dietary patterns of low and middle-income countries. Animal protein-based food protein ingredients industry in particular, has gained significant momentum in developing countries. In developed nations, the consumption of animal-based food protein ingredient had always been high due to economic affluence. However, due to increasing concerns about animal cruelty and the negative effects of human-induced terrestrial biodiversity loss that large-scale consumption of animal protein can cause, plant-based food protein ingredients industry has been brought to prominence in the advanced economies.

Growth Drivers:

1. Asia Pacific: Increasing usage in dietary supplement application for nutraceutical industry
2. North America: Rapid technology innovations and rising demand for plant-based food protein ingredients
3. Europe: Growing demand for infant foods

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Fruits and vegetables have witnessed a renewal of interest in consumption as various health regulatory bodies around the world have emphasized the importance of including these ingredients in daily diet. A study showed that 60% of American consumers between the ages of 15 and 70 are trying to cut back on their dependence on meat-based products while 17% are eating a predominantly plant-based diet. Experts observed that such behavior is not actually about rejecting meat consumption but about increasing the amount of fruit and vegetable consumption as suggested by health authorities.

As protein is viewed as one of the indispensable parts of a diet, consumers are looking to keep their protein intake unaffected by consuming more plant-based proteins. Detecting such a trend, food protein ingredients industry players are leaning towards bringing products to the market that source their protein content from plants but are as tasty as foods sourced from animal protein. Plant-based meat producers like Beyond Meat and Impossible Burger have already been producing palatable plant-based proteins. As per estimates, plant-based food protein ingredients industry share will increase at a rate of 6.5% over 2017-2024.

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