The Global Market for Protein Ingredients is Projected to Reach US$50 Billion by 2024

Global Craving for High Protein Diets Spearhead Demand for Protein Ingredients, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Protein Ingredients market. The global market for Protein Ingredients is projected to reach US$50 billion by 2024, driven by the growing demand for protein sources for meeting varying protein needs of the expanding global population, and rising popularity of high protein diets and the resulting demand for protein ingredients with high nutritional value and functional benefits.

Protein is a vital nutrient required by the body and mainly consists of amino acids. Minimum daily intake of protein for an average individual is recommended at 0.8 g per kg of body weight and higher for nursing, pregnant women, older adults, and people building muscles. Protein continues to make a notable splash in the macronutrient space owing to its tremendous popularity across all consumer segments. Protein allows athletes to gain competitive edge, busy parents to get a healthy meal-replacement and aging seniors to maintain muscle mass and stay active. Rising consumer focus on living a healthy and active life is enabling the protein market to move into new directions with consumers increasingly seeking foods that are natural, fresh, and minimally processed, and also those which include ingredients that aid in combating diseases and encourage good health. As increasing number of consumers with different lifestyles, health goals and values are relying more on protein-rich diets, manufacturers are formulating innovative functional nutritional options and dietary supplements to address the surging demand. While sustained demand from food & beverage industry is expected to continue fueling growth in the coming years, the market will also be bolstered by increased demand from pharmaceuticals, cosmetics, and personal care markets.

Strong growth is projected for the market in the coming years driven by the global craving for high protein diets due to growing prominence of health and sustainability. Increasing incidence of chronic diseases such as CVD, diabetes, various cancers, and osteoporosis, and the urgent need for adequate intake of proteins in combating these diseases represent another important growth driver. Other factors poised to benefit market prospects in the near term include emergence of whey protein as the most sought after ingredient in functional foods and sports nutrition products; wide ranging applications of soy proteins owing to their widespread availability and favorable clinical research supporting its health and nutritional advantages; and surging popularity of pea protein ingredients with their health benefits and high nutritional value in terms of high in fiber, starch, vitamins, proteins, and minerals. Emergence of newer sources of proteins such as fava beans, solar food, insect proteins, chickpeas, cricket proteins, algae protein, hemp seeds, spirulina, duckweed, Sacha Inchi, chia seeds, flax seeds, and quinoa, among others, and the myriad health benefits offered by them in terms of maintaining general health and well-being, weight loss and weight management, as well as muscle building and muscle maintenance is also expected to provide additional impetus to market growth. Rising popularity of specialty diets such as ketogenic, Whole30 and paleo that pay more attention to protein and fat over sugar and carbohydrates are prompting more consumers to spend on protein ingredients and explore new sources.

As stated by the new market research report on Protein Ingredients, the United States represents the largest market worldwide, followed by Europe. Asia-Pacific is poised to grow at the fastest CAGR of 9.0% over the analysis period. Despite sustainability issues, animal protein continues to dominate consumption supported by several advantages offered in terms of convenience, better product stability and functionality, ease of formulation, and consistency in performance. Plant protein ingredients, on the other hand, are forecast to record faster growth supported by growing acceptance of plant proteins as healthy and nutritious replacements to animal proteins, while also being cost effective.

Key players in the market include A&B Ingredients Inc., Agropur MSI, LLC, AMCO Proteins Company, Amway Corporation, Archer Daniels Midland Company, Arla Foods Ingredients Group P/S, Bunge Limited, Cargill Incorporated, Darling Ingredients Inc., Rousselot B.V., DuPont Nutrition & Health, Fonterra Co-Operative Group Limited, Gelita AG, Glanbia Plc, Hilmar Ingredients, Kerry Group plc, Kewpie Corporation, Lactalis Ingredients, Mead Johnson Nutrition Company, Roquette Frères SA, Sterling Biotech Limited, Tessenderlo Group NV, The Scoular Company, and Weishardt Holding SA, among others.

The research report titled “Protein Ingredients: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America and Rest of World. Product Group/Segment analyzed by the report include Animal Protein (Dairy, Egg, Gelatin, and Collagen) and Plant Protein (Soy, Gluten, and Others).

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