Report Ocean recently published a research study on the global protein ingredients market, titled “Protein Ingredients Market by Source (Animal and Plant), Form (Solid and Liquid), and Application (Food & Beverages, Animal Feed, Cosmetics & Personal Care, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027.”
The global protein ingredients market stood at US$53.78 bn in 2019. Expanding at a healthy CAGR of 6.40% during the period from 2020 to 2027, the market is likely to reach US$91.89 bn by end the forecast period. The wide-ranging application of protein ingredients in various industries, such as animal feed, nutrition, personal care, and infant nutrition, is propelling the growth of this market substantially. The changing lifestyle of consumers and increasing awareness among them regarding health benefits of protein in daily diet is another important factor that is boosting this market across the world.
Protein ingredients suppliers, especially those, who operate in the food and beverages industry, are actively investing in R&D to enhance taste, characteristics, or nutritional value of protein ingredients, which is likely to support this market over the next few years.
Impact of Covid 19 on Global Protein Ingredient Market
The lockdown imposed due to the spread of Coronavirus across a number of nations has affected the global protein ingredient market substantially. With supply chain mechanism disrupted, the supply of food and beverages has drastically declined and so is the supply of protein ingredients. However, as the governments are on their way to lift the lockdown and the food and beverage sector already reopened, the market is likely to get back to its normal self soon.
Increasing Veganism to Shift Consumers to Plant Protein
In this research study, the global protein ingredients market has been assessed on the basis of the source, form, application, and the region. Based on the source, the market has been categorized into animal and plant. Currently, the consumption volume of animal protein is higher. However, with the increasing trend of veganism, the demand for plant protein is likely to augment substantially in the years to come.
By the application, the market has been segmented into the food and beverages, animal feed, and cosmetics and personal care industries. Among these, the food and beverages industry has surfaced as the key application area for protein ingredients across the world. In terms of the form, the market has been classified into solid and liquid. Regionally, the report analyzes the market across North America, Europe, Asia Pacific, and LAMEA.
The key protein ingredient producers profiled in this research report are ADM, Cargill, Kerry Group, DuPont, Omega Protein Corp., Friesland, Fonterra Co-operative Group, Mead Johnson Nutrition Co., Kewpie Corp., and Bunge Limited.
- Currently, the consumption volume of animal protein is higher.
- With the increasing trend of veganism, the demand for plant protein is likely to augment substantially in the years to come.
- The food and beverages industry has surfaced as the key application area for protein ingredients across the world.
The global protein ingredients market is classified into:
- Whey Protein Ingredients
- Casein & Caseinates
- Milk Protein
- Egg Protein
- Soy Protein
- Wheat Protein
- Pea Protein
- Food & Beverages
- Animal Feed
- Cosmetics & Personal Care
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Companies Mentioned in the Report
- Kerry Group
- Omega Protein Corp.
- Mead Johnson Nutrition Co.
- Fonterra Co-operative Group
- Kewpie Corp.
- Bunge Ltd.
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