PROTEIN INGREDIENTS MARKET ANALYSIS

Protein is a macronutrient organic compound that is important for the building of muscles and consists 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.

Global Protein Ingredients market was valued at US$  40.8 Billion in 2021 in terms of revenue, exhibiting a CAGR of  6.6% during the forecast period (2022 to 2030).

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 December 2021, India-based Pownut healthcare company launched 3 different varieties of protein powder specifically for men, women and children. It is a natural protein supplement product with added essential vitamins for fitness enthusiasts.

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 July 2022, Danone launched new dairy & plants blend baby formula for feeding options meeting infant specific nutritional requirements. Therefore, increasing launches of such nutritious products for infants for meeting the growing demand around the globe will favor the market growth of protein ingredients.

In terms of revenue, North America dominated the global protein ingredients market in 2021, reporting 37.2% market share in terms of revenue, followed by Europe and Asia-Pacific, respectively.

Figure 1. Global  Protein Ingredients Market Value Share (%), By Region, 2021

To learn more about this report, request a free sample copy

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 major factors limiting the market growth. Also, another major factor restraining the market growth is the prevalence of food allergies due to the consumption of certain food products such as tree nuts, peanuts, shell fish, cow milk, soybean, eggs, and others. These are reported to cause over 90% of food allergy incidents around the globe.

Furthermore, the 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 factor is expected to restrain the market growth of protein ingredient over the forecast period.

Market Trends

Global protein ingredients market has witnessed a substantial growth owing to increasing usage of protein ingredients in breakfast based cereals, which is a major trend that has been observed in market and this trend is expected to augment the market growth of protein ingredients over the forecast period. Moreover, increasing focus of manufacturers to introduce highly functional protein for high-protein based products is expected to accelerate the market ingredient over the forecast period.

Figure 2. Global  Protein Ingredients Market Value Share (%), By Form, 2021

To learn more about this report, request a free sample copy

On the basis of Form, in 2021, concentrate accounted the largest market share of 59.0% in terms of revenue, followed by isolate and others, respectively.

Recent Developments

• In March 2022, Kerry Group, a taste and nutrition company opened the US $137 million food manufacturing facility in Rome, Georgia. It is a newly upgraded facility which is aimed to provide integrated taste and nutrition solutions.
• In July 2022, Burcon NutraScience Corp partnered with its joint venture company, Merit Functional Foods Corporation, to launch Peazazz C pea protein, a new protein ingredient for foods and beverages
• In October 2021, Arla Food Ingredients launched pure BLG (beta-lactoglobulin) under the new protein category for medical nutrition and sports nutrition

Competitive Section

Major players operating in the global  protein ingredients market include DuPont Nutrition & Biosciences, Archer Daniels Midland Company, Cargill Inc., Glanbia plc, FrieslandCampina DMV B.V., Kerry Group plc, Arla Food Ingredients, Roquette Frères S.A., Davisco Foods International, and Burcon NutraScience.