According to a recent report by Future Market Insights, a market research and competitive intelligence provider, protein ingredients market is estimated to be valued at USD 27.5 Billion in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach a valuation of USD 47.4 Billion by 2032, rising at a CAGR of 5.6% for 2022 to 2032.
Market Dynamics:
The protein ingredients market is witnessing growth, driven by the utilization of plant- and dairy-based protein ingredients in various sectors such as insecticides, fertilizers, paper coatings, printing inks, and paper production. The food and beverage industry contributes significantly to the market’s revenue, with manufacturers developing new isolates and concentrates for use in dairy products, dietary supplements, bakery items, confectionery, infant formula, and more. The demand for plant-based protein alternatives, coupled with consumer interest in health-promoting foods, is creating new opportunities in the protein ingredients market.
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Regional Insights:
- The United States market is expected to grow steadily due to consistent consumer spending, with a focus on preventing food contamination through changes in food safety laws.
- The United Kingdom’s government initiatives promoting healthy eating contribute to the growth of the protein ingredient market.
- Spain’s expanding food and beverage industry is driving demand for high-quality protein supplements.
- In Japan, with its high-income status, the protein ingredients market has a significant share due to its low growth and attractive prices.
- The Australian protein market is projected to grow at a CAGR of 7.2% during the forecast period (2022-2032).
“As a result of the world’s rapid population growth and rising consumer awareness about nutrition and health, the global protein ingredients industry is rapidly expanding,” says a lead analyst at Future Market Insights.
Who is winning?
Players in the protein ingredients market have adopted business expansion and product launch as key development strategies in order to increase their market share, increase profitability, and remain competitive.
- In January 2019, Ingredion, Inc. announced a USD 185 million investment to expand their plant protein ingredient plant in Canada and Vanscoy, Saskatchewan in an effort to increase the company’s production capabilities, which are expected to capture the protein ingredients market during the forecast period.
Among the key players profiled in the report are Cargill, ADM, DuPont, Kerry Group, Omega Protein Corporation, Friesland, Mead Johnson Nutrition Company, Fonterra Co-operative Group, Kewpie Corporation, and Bunge Limited.
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Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the protein ingredients presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
Market Segments Covered in Protein Ingredients Industry Analysis
By Product Type:
- Animal Protein
- Whey Protein
- Casein and Caseinates
- Milk Protein
- Egg Protein
- Gelatin
- Plant Protein
- Soy Protein
- Wheat Protein
- Pea Protein
- Other Plant Proteins
By Application:
- Supplements and Nutritional Powder
- Beverages
- Protein and Nutritional Bars
- Bakery and confectionery
- Breakfast Cereals
- Meat and Meat Products
- Dairy Products
- Infant Nutrition
- Animal Feed
- Other Applications
By Form:
- Isolates
- Concentrates
- Other Forms
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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