Protein Ingredients Market Analysis 2021-2027, Size, Growth Analysis by Region, Industry Share, Latest Trends, Product Demand, Future Innovations and Challenges

The global protein ingredients market size was valued at $53.78 billion in 2019, and is anticipated to reach $91.89 billion by 2027, with a CAGR of 6.4% during the forecast period.

In 2019, the animal protein segment accounted for more than half of the total protein ingredients market share. Animal and plant-based proteins are potential and multipurpose ingredients used in the preparation of a range of food products. They exhibit many beneficial functionalities and bioactivities in the processing of food products. They work as thickening agents, gelling agents, texture modifiers, carriers, and foaming agents in food preparations. These are also used in multiple applications across industries, including nutrition, personal care, and animal feed.

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According to the protein ingredients market analysis, the market is segmented on the basis of source, form, application, and region. By source, it is categorized into animal and plant. Further, animal protein is segregated into whey protein, casein & caseinates, milk protein, egg protein, and others. Plant protein is classified into soy protein, wheat protein, pea protein, and others. By form, it is bifurcated into solid and liquid. By application, it is divided into food & beverages, animal feed, cosmetics & personal care, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, Indonesia, New Zealand, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the UAE, Nigeria, Turkey, South Africa, and rest of LAMEA).

On the basis of source, the animal protein segment accounted for the maximum share in the global protein ingredients market in 2019, and is expected to remain dominant during the forecast period. This can be attributed to increase in awareness of health and fitness. Moreover, meat protein is predominantly used in various applications, such as pet food and cosmetics, whereas egg and milk proteins are extensively used in bakery and confectionary products.

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On the basis of form, the solid protein ingredients segment accounted for the maximum share in the global protein ingredients market in 2019. The solid form is most preferred in a wide range of applications, such as nutrition, food & beverages, feed, and personal care, owing to longer shelf life and better handling properties. Moreover, solid form of protein ingredients consumption remains higher compared to liquid form. This factor has impacted the application of animal-based protein powder, especially in food & beverages.

On the basis of application, the food & beverages segment held the significant market share in 2019. This is attributed to surge in number of health-conscious consumers. Furthermore, proteins used in food & beverages are easily accessible and highly nutritious as they meet the needs of busy consumers who seek for appealing options, but are unwilling to compromise on health, thereby driving the growth of global protein ingredients market.

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On the basis of region, North America dominated the market in 2019, and accounted for the maximum share. The North America protein ingredients market is mature and homogenous with high penetration. It is dominated by leading key players such as Kerry Group, Cargill, ADM, and DuPont. Furthermore, the North America fitness industry is expected to grow at a faster rate during the protein ingredients market forecast period. This is attributed to rise in number of consumers in the U.S. who adopt a healthy lifestyle or indulge in activities that promote an active and healthy lifestyle. Presently, about 20% of adults in the U.S. have fitness club memberships and the number is expected to increase in future. In addition, increase in demand for protein-rich food, owing to rise in number of health-conscious customers is anticipated to propel the market growth.

Players in the protein ingredients market have adopted business expansion and product launch as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in the report include Cargill, ADM, DuPont, Kerry Group, Omega Protein Corporation, Friesland, Mead Johnson Nutrition Company, Fonterra Co-operative Group, Kewpie Corporation, and Bunge Limited.

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