The global protein ingredients market is expected to reach USD 48.77 billion by 2025, according to a new report by Grand View Research, Inc. The industry is driven by the growing use of these products in novel applications and technological advancements. In addition, increasing market acceptance, especially in dietary supplements and functional foods, is expected to drive product demand over the next nine years.
Rapid growth in the food & beverage industry, primarily in Asia Pacific countries including India, China, Malaysia and Indonesia, is anticipated to boost demand for plant & animal proteins over the projected period. Growing domestic demand for foods & beverages in emerging countries of BRICS is anticipated to have a positive impact on the global food & beverage industry, thereby driving the product demand.
In terms of revenue, animal type was the largest segment, accounting for 72.3% of the global industry share in 2016. One of the key drivers for the growth of the animal protein ingredient sector is the strong scientific evidence supporting health benefits of these products. Ongoing research conducted by scientists has proved that protein ingredients are the best source to maintain fitness of the body. Whey proteins are reportedly seen to be beneficial for cancer patients as well.
Consumers’ belief in the health benefits associated with these products has been the key driver for this industry over the past few years and the trend is anticipated to continue over the forecast period. Furthermore, food manufacturers are responding to this demand with a wide range of reformulated and new products. Major companies, including Archer Daniel Midland and Cargill, continually invest in R&D with an aim of introducing new products in this market.
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https://www.grandviewresearch.com/industry-analysis/protein-ingredients-market
Further key findings from the report suggest:
- The global demand for protein ingredients was around 4,500 kilo tons in 2015 and is expected to reach over 8,000kilo tons by 2025, growing at a CAGR of 6.2% from 2016 to 2025
- Plant proteins accounted for over 40% of global volumes in 2015, and is expected to grow over the next nine years on account of increasing consumer inclination towards vegetarian products
- Egg protein segment has dominated the animal proteins segment in 2015, accounting for over 43% of global animal proteins market volume owing to rising demand in bakery, snacks, and dietary supplements
- Whey protein concentrates and milk protein concentrates were the other key segments of the animal proteins market in 2015 on account of growing health awareness among consumers
- Food & beverage was the highest revenue generating segment of the protein ingredients market growing at a CAGR of over 5% from 2016 to 2025 due to rising population in developing countries
- Europe was the second largest market for protein ingredients in 2015, accounting for over 30% of the global consumption owing to growth of personal care & cosmetics sector in France, Germany and UK
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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