The latest market forecast report published by TMR on the beef protein powder market includes global industry analysis and opportunity assessment of the beef protein powder market for the period of 2019-2029. Revenue generated from the global beef protein powder market is estimated to be ~US$ 700 Mn in 2019. The beef protein powder market is projected to increase at a CAGR of ~6%, to reach ~US$ 1.3 Bn by 2029.
Rising Demand for Proteinaceous Diet Boosting Beef Protein Powder Market Growth
Today’s population is adopting a preventive diet that emphasizes more on the consumption of health products. Proteins are made up of long chains of amino acids, which are linked by peptide bonds. The hydrolysis of dietary protein helps in the production of amino acids, dipeptides, and tripeptides in intestinal lumen. Deficiency of protein leads to certain ailments such as physical weakness, anemia, vascular dysfunction, edema, and immunity-related diseases. The popularity of beef protein powder is increasing due to its protein and antioxidant content, which helps prevent obesity and other weight-related health issues.
Increased Demand for Fat-free and GMO-free Food Products
With technological developments, consumers can access smart labels, due to which, they can easily check the food ingredients as well as every detail within the supply chain. Nowadays, costumers are asking food product manufacturers to increase the transparency of their products, going beyond ingredients, free-from status, and nutritional value. This is evident by the continuously increasing demands by buyers to comprehend product-related information such as from where and how the ingredients were obtained. Concerns regarding products that are fat-free, non-GMO, organic, etc., have risen among consumers, thus boosting the beef protein powder market.
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Health Conscious Consumers Demand Nutritious Beef Protein Powder-based Products
Beef protein powder-based beverages are enriched sources of nutrients without any additional preservatives or additives. These help in weight management issues, blood pressure, cholesterol, and support the prevention of ailments such as obesity and cardiovascular diseases. This is expected to boost the beef protein powder during the period of forecast.
Organic Trend Increasing Demand for Beef Protein Powder-based Products
Due to increasing awareness about food and health, the market demand for organic beef protein powder is increasing. Nowadays, new trends for food are increasing in developed as well as developing countries, with growing focus on wellness. Organic foods have a different standard of quality as compared to conventional foods. Organic products are grown using natural manures and pesticides. These are free from genetically-modified organisms (GMOs), and have a very high content of important vitamins and minerals. All these factors are driving the market demand for beef protein powder in the food and beverage industry.
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Surging Lactose Intolerance Population to Trigger Demand for Milk Protein Alternatives
Lactose intolerance is a disorder of the digestive system, in which, a person cannot digest lactose or other milk derivatives. Lactose intolerance occurs due to the absence of the lactase enzyme in the body. It causes various signs and symptoms such as diarrhea, abdominal cramps, and bloating in the stomach. Lactose intolerance and other food allergies have boosted the growth of the market for beef protein powder, as beef protein powder is an excellent alternative to milk proteins.
- According to a report published by NCBI (National Center for Biotechnology Information) in 2012, around 65% of the global population was lactose intolerant, and this percentage is projected to reach 74% by 2020.