November 28, 2020

PROTEIN INGREDIENTS MARKET ANALYSIS (2019-2027)

Protein Ingredients Market 2017 – 2027

A protein is a macronutrient organic compound that is important for the building of muscles and consist of a chain of amino acids which are organic compounds composed of hydrogen, nitrogen, carbon, and sulfur. Protein can be extracted from plant and animal sources by using methods such as filtration and precipitation. Some of the common sources of protein ingredients are vegetables (soy, pea), eggs, wheat, milk, and animal tissue.

The global protein ingredients market is projected to reach US$ 68.2 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2019 to 2027).

Drivers

Growing consumption of protein powder as it is essential for muscle growth along with the growing demand for plant-based protein is expected to fuel the market growth of protein ingredients. For instance, in March 2017, MusclePharm Corporation, a provider of supplements based out of the U.S., introduced MusclePharm Natural Series, which is a line of plant-based premium protein products targeting consumers seeking organic alternatives to traditional dairy-based supplements.

Growing demand for infant nutrition products due to rising awareness regarding the health benefits of infant’s nutrition is expected to propel the market growth of protein ingredients. For instance, in August 2016, Nestle India has expanded the infant nutrition category with the launch of new brand Ceregrow, the new brand will be addressed to the cereal-based foods category among children aged above two years. Therefore, increasing launch of such nutritious product for infants for meeting the growing demand around the globe will favor the market growth of protein ingredients.

Regionally, North America dominated the global protein ingredients market in 2018, reporting 37.2% market share in terms of revenue, followed by Europe and Asia-Pacific, respectively.

Figure 1. Global Protein Ingredients Market, Revenue Share (%), By Region, 2018

Market Restraints

Issues associated with high protein consumption such as gastric and digestive problems are projected to limit the market growth of protein ingredient. Excessive consumption of protein may result in gas formation, stomach cramps, and bloating. These factors are a major factor limiting the market growth. Also, another major factor such as food allergies due to the consumption of tree nuts, Peanuts, shell fish, cow milk, soybean, eggs, and wheat are reported to cause over 90% of food allergy incidents around the globe.

Lack of awareness regarding non-soy plant proteins is anticipated to impact the market growth negatively. According to the Coherent Market Insights, soy protein accounts for the highest share of the overall market in terms of value and volume owing to very high consumption and relatively high prices. However, other plant proteins such as pea are relatively less known in various parts of the world and account for moderate market share. This is a factor is expected to restrain the market growth of protein ingredient over the forecast period.

Market Opportunities

The growing popularity of dairy and plant protein blend products is expected to offer potential opportunities over the forecast period. Blends of dairy and plant proteins enhance the protein levels and also reduces formulation costs, as prices of plant-based protein are less volatile compared to other protein. According to the study conducted in 2015 by DuPont Nutrition & Health, ready-to-drink beverages formulated with blends were more preferred as compared to single protein beverages in terms of both flavor and cost.

Growing popularity of proteins from Non-bovine milk such as goat milk among consumers is expected to propel the market growth over the forecast period. Goat milk offers many beneficial functional properties such as healthy digestion. Moreover, whey protein is highly concentrated in goat milk, which enables easy processing and higher yield. According to the European Food Safety Authority, goat milk-derived dairy proteins are best for infant nutrition or formulas, main whey proteins, that include beta-lactoglobulin, alpha-lactalbumin, and serum albumin – are highly concentrated in goat milk as compared to cow milk.

Figure 2. Global Protein Ingredients Market – Opportunity Analysis

Market Trends

Increasing usage of protein ingredients in breakfast based cereals is a major trend that has been observed in the market and this trend is expected to augment the market growth protein ingredient over the forecast period. For instance, in January 2019, Kellogg’s has expanded its Special K breakfast cereal range in the US with the launch of new protein honey almond ancient grains variant, containing 15g of protein per serving. The flavor features flakes made from a mix of whole grains such as sorghum and black rice alongside wheat and rice.

The growing focus of manufacturers to launch protein-based ready-to-drink is gaining traction in the market and this is expected to propel the market growth of protein ingredient over the forecast period. For instance, in December 2019, Nestle’s has announced its first plant-based oat milk drink under its Nesquik brand. The product is a new dairy alternative health drink closely matches the nutritional value of milk with 6 g of protein per serving along with 2g of dietary fiber.

Figure 3. Global Protein Ingredients Market, Revenue Share (%), By Form, in 2018

On the basis of form, in 2018, concentrated form accounted the largest market share of 59.0% in terms of revenue, followed by isolate and others, respectively.

Competitive Section

Key compnies involved in the global protein ingredient market Solae LLC, Archer Daniels Midland Company, Cargill Inc., Glanbia plc, FrieslandCampina DMV B.V., Kerry Group plc, Arla Food Ingredients, ROQUETTE FRERES S.A, Davisco Foods International, Inc., and Sterling Biotech Ltd.

Few Recent Developments

Solae LLC

  • In January 2017, the company in collaboration with ice cream manufacturer, Aabybro Dairy, developed a protein-rich sorbet for hospital patients, who are at risk of undernourishment
  • In August 2015, Dupont acquired Taxon Biosciences Inc., a global leader in agriculture, nutrition & health and industrial biosciences, in order to expand its food ingredients business

Archer Daniels Midland Company (ADM)

  • In October 2015, ADM launched SUPERB, which is a functional ingredient containing protein and fiber, with functional benefits and aids in improving the texture of meat products and meat substitutes. This launch aided in expanding the company’s specialty proteins portfolio.

Cargill Inc.

  • In January 2017, the company started construction of a new US$ 60 million protein business headquarters in Wichita, U.S. in order to increase its protein production

Get free sample report here: https://www.coherentmarketinsights.com/insight/request-sample/3393

Download PDF brochure: https://www.coherentmarketinsights.com/insight/request-pdf/3393

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions.

What we provide:

• Customized Market Research Services

• Industry Analysis Services

• Business Consulting Services

• Market Intelligence Services

• Long term Engagement Model

• Country Specific Analysis

Contact Us:

Mr. Shah

Coherent Market Insights Pvt. Ltd.

Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S.

Phone: +1-206-701-6702

Email: sales@coherentmarketinsights.com

Source: https://www.coherentmarketinsights.com/market-insight/protein-ingredients-market-3393