Protein Ingredients Market touched USD 64 billion in 2020 and will grow at 6.4% CAGR in 2021-2028 | Size, Share & Forecast

Protein Ingredients Market

The Protein Ingredients Market was estimated around USD 64 billion in 2020 and is estimated to grow at a CAGR of 6.4% over the forecast period (2021-2028).

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/protein-ingredients-market-analysis-industry-research/

The factors driving the growth of Protein Ingredients Market includes rising consumers inclination towards adopting healthy lifestyles, growing demand for food products such as margarine, yogurt, bakery products and yogurt and increasing consumers preference for protein-rich meals. According to the report published by Statista, the Yogurt Market in India is estimated to reach USD 26.93 billion by the end of 2022, growing at a CAGR of 9.54% over the forecast period (2022-2027), which will accelerate the Protein Ingredients Market share in the approaching years. Moreover, rise in the launch of innovative food products, increasing application of plant-based ingredients such as soy, canola and wheat in the food and beverage industry and growing prevalence of deficiencies such as Kwashiorkor and Marasmus, are some of the additionally factors supplementing the Protein Ingredients Market size. In addition, increasing investments by leading players on research and development, strategic mergers and acquisitions between key players, rapid urbanization, and rising population growth rates, are further contributing towards the market growth.

However, growth of the Protein Ingredients Market is hindered attributed to demand-based variations in the cropping patterns.

The major players operating in the market are Roquette Frères, ARLA Foods, GELITA AG, Cargill Incorporated, ADM, DuPont, Kewpie Corporation, Kerry Group, Omega Protein Corporation, and AGARNA, among others.

Based on Source, the Animal Source segment is predicted to grow at a significant CAGR during the forecast period

Animal based protein ingredients provides more nutritional value as compared to plant base protein ingredients along with its increasing application in functional beverages, are some of the factors responsible for the segment's growth. 

Based on Form, the Dry segment is projected to lead the market over the forecast period

Increasing application of dry protein ingredient in food and beverages and pharmaceutical industries owing to its long shelf-life properties, is propelling growth of the segment.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

As per the Protein Ingredients Market Research Report, rise in the launch of innovative flavors by manufacturers, growing demand for energy bars, and cold cereals, increasing prevalence of health diseases and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Developments

In 2019, Cargill Incorporated planned to invest USD 225 million at a facility in Sydney, Ohio, to better serve area famers and cater the rising demand for protein and refined oils.
In 2017, ADM extended its ingredient portfolio by launching Nutriance, a range of wheat protein concentrate, having application in sports and geriatric nutrition.

Market Segmentation

Segmentation by Source

Animal Source
Plant Source

Segmentation by Form

Dry
Liquid

Segmentation by Application

Food & Beverages
Cosmetics & Personal Care Products
Feed
Pharmaceuticals

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain

Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.