Global Protein Ingredients Market: Snapshot
The global market for protein ingredients has been witnessing an exponential proliferation over the last few years, thanks to the rising popularity of soy and pea proteins among consumers. The rising demand for eggs and dairy products is also supporting the growth of this market considerably. Over the coming years, the increasing consumer demand for ‘purer’ products with low processing is influencing the development of new products such as micellar casein and native whey, which is likely to drive this market substantially.
Apart from this, the rising uptake of protein ingredients in food and beverage products and the growing preference of consumers for fortified foods and foods enriched with protein ingredients is also projected to add to the progress of this market in the near future. However, the relatively lower consumption of plant proteins and the increasing concerns over the harmful effects of gelatin may limit the progress of this market over the next few years.
The opportunity in the global market for protein ingredients is projected to expand significantly at the CAGR of 6.50% between 2017 and 2027, rising from a value of US$31.8 bn in 2016 to US$64.35 bn by the end of 2027.
Animal Protein to Continue Reporting High Demand
On the basis of the type of product, the global protein ingredients market is classified into plant and animal proteins. Holding 80% of the overall market animal protein led the global market in 2016 and is anticipated to maintain this over the forthcoming years, thanks to the rising consumption of eggs and dairy products across the world. The high prices of eggs and dairy products are also supporting this segment in registering high growth.
Soy, wheat, and pea are the key plant proteins available across the world while whey protein, casein and caseinates, egg protein, and gelatin are major animal proteins. Among these, the demand for soy protein is likely to increase at an exceptional rate in the years to come, owing the augmenting usage of soy isolate, concentrates, and texturized vegetable proteins.
Based on the form, the market is categorized into isolate and concentrate. Protein concentrates account for a higher share than isolates and are expected to continue likely this over the next few years, thanks to their wide base of consumer application.
North America to Retain Lead in Global Protein Ingredients Market
Regionally, the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific are considered as the main segments of the worldwide market for protein ingredients. North America led the overall market in 2016 with a revenue contribution of US$11.96 bn. Analysts expect the scenario to remain so in the near future. The increasing health consciousness and awareness about the positive effect of protein consumption on health is anticipated to boost this regional market over the next few years.
Europe is another thriving regional market for protein ingredients. However, owing to maturation, it is likely to lose some shares to Asia Pacific and Latin America in the years to come. Asia Pacific, on the other hand, is expected to be proved highly lucrative for market players in the near future due to the increasing industrial growth, rising disposable income, and the growing population.
Solae LLC, Archer Daniels Midland Co., 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. are some of the leading vendors of protein ingredients across the world.
Global Protein Ingredients Market: Overview
Transparency Market Research (TMR) offer a 10-year forecast for the protein ingredients market between 2017 and 2027. In terms of value, the market is expected to register a CAGR of 6.5% during the projected period. The primary objective of the report is to offer insights on the advancements in the protein ingredients market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the global protein ingredients market over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global Protein Ingredients market.
Growing popularity of plant protein ingredients is expected to push certain key products, such as soy and pea proteins to grow at high rates over the forecast period. But this growth is offset by relatively lower overall consumption of plant proteins. Despite the decreasing popularity of gelatin, egg and dairy products are expected to witness considerable demand in the future. Increasing consumer demand for ‘purer’ products with low processing is enabling development of new products such as micellar casein and native whey. The other factors driving the market are increasing adoption of protein ingredients in food and beverage products, and growing consumer preference for fortified foods or foods enriched with protein ingredients.
A section of report discusses the overall competitive landscape of the protein ingredients market. Every protein type has many market leaders, with most of them belonging to Europe or North America. The market is slightly fragmented in Asia Pacific and Latin America. Various barriers to entry in the industry are analyzed and rated on the basis of their impact on the competition level in the market.
Global Protein Ingredients Market: Segmentation
The report analyses the market share of the protein ingredients on the basis of product type, application, product form and region. On the basis of product type, the market is segmented into plant and animal proteins. Plant protein segment is further sub-segmented into soy, wheat, pea and others while the animal protein segment is further sub-segmented into whey protein, casein and caseinates, egg protein and gelatin. Animal protein segment is estimated to account for around 80% revenue share in the global market over the forecast period. Along with high consumption, the high prices of eggs and dairy proteins is the major factor impacting the animal protein segment. Soy proteins sub-segment accounts for significant value and volume share owing to a historically high usage of soy isolate, concentrates and texturized vegetable proteins.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities. Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global Protein Ingredients market.
A section of the report highlights protein ingredients demand, region-wise. It provides a market outlook for 2017–2027 and sets the forecast within the context of the protein ingredients ecosystem, including the new technological developments as well as product offerings in the global protein ingredients market. This study discusses key region trends contributing to growth of the protein ingredients market globally, as well as analyses the degree to which drivers are influencing the market in each region. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
Global Protein Ingredients Market: Competitive Outlook
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Key categories of providers covered in the report are protein ingredients suppliers and customers. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the Protein Ingredients space.
Key players in the global protein ingredients market include Protein Ingredients suppliers and customers. Protein Ingredients manufacturers include Solae LLC, Archer Daniels Midland Company, Cargill Inc., Glanbia plc, DMV International B.V, Kerry Group plc, ROQUETTE FRERES S.A, Davisco Foods International, Inc., Arla Food Ingredients, and Sterling Biotech Ltd.
The global protein ingredients market is segmented into:
By Product Type
- Animal Protein
- Whey Protein
- Casein and Caseinates
- Milk Protein
- Egg Protein
- Plant Protein
- Soy Protein
- Wheat Protein
- Pea Protein
- Supplements and Nutritional Powders
- Protein and Nutritional Bars
- Bakery and Confectionery
- Breakfast cereals
- Meat and Meat Products
- Dairy Products
- Infant Nutrition
- Animal Feed
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East & Africa
- North Africa
- South Africa
- Rest of MEA