Protein Ingredients Market Set to Expand At a Staggering 6.4% CAGR, Reaching $91.89 billion by 2027

The global protein ingredients market size was valued at $53.78 billion in 2019, and is anticipated to reach $91.89 billion by 2027, growing at a CAGR of 6.4% from 2021 to 2027. The market is expected to exhibit incremental revenue opportunity of $38.11 billion from 2019 to 2027.

Rise in per capita income of the middle class, consumer awareness about healthy diet, and increase in demand for proteins as nutritional and functional ingredients are projected to drive the growth of the protein ingredients market in the future.

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Protein ingredients, such as animal and plant-based protein, are widely consumed across industries such as food & beverages, nutrition, feed, personal care, and cosmetics. Their multipurpose nature and functionalities, such as thickening, binding, gelling, and texturizing, have led to their wide adoption in these application industries.

The protein ingredients market growth is propelled by the rise in demand for nutritional food in the market. Rise in awareness about health and nutritional food products has led people to shift to healthy diets and increase their protein intake by using protein supplements, thereby fueling the market growth for protein ingredients. Busy lifestyle and increase in women participation in the labor force have encouraged consumers to focus on nutritional supplements through infant formula for their babies. Animal protein is one of the major components of infant formula, which is expected to drive the demand for protein ingredients in the future. Protein supplements and protein-based food products are still in nascent stages in various regions of Africa, such as Zimbabwe, Liberia, Eritrea, and Burundi, along with other developing regions. These are still untapped, which present lucrative protein ingredients market opportunities for manufacturers of animal and plant protein.

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On the basis of region, the protein ingredients market 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). North America dominated the global protein ingredients market in 2019. This is attributed to high per capita consumption of protein supplements in the U.S. and high demand for protein-based food products and animal protein in various food & beverages due to their multifunctionalities.

Furthermore, the market in LAMEA is expected to witness the highest CAGR. Moreover, rise in awareness about functional characteristics of protein, increase in demand for nutritional supplements in developing countries, expansion of the retail industry, and growth in disposable income of consumers are the current protein ingredients market trends in the region.

The key players profiled in protein ingredients industry 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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