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Protein Ingredients Market Worldwide Growth Industry Application Analysis, Size, Share, Forecast
Protein Ingredients Market Introduction
The Protein Ingredients Market is projected to reach 5,547.12 KT by 2022, at a CAGR of 3.87% from 2017, in terms of market volume. Europe and North America are the major consumers of protein ingredients with Asia Pacific emerging as growing consumers. Increase in demand in overall health and wellness products with protein rich foods and beverages is driving higher demand for protein ingredients market.
Whey and soy are currently the largest protein ingredients with more than 35% of the market. Protein sources like soybean, whey and casein are fast emerging as alternatives in protein ingredients market. Soybean and whey is projected to dominate the protein ingredient sources with more than 40% by 2022. Increase in food safety issues related to animal protein, consumers are likely to shift more towards plant proteins like soybean, pea and canola.
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Pea and egg white proteins are growing traction among the consumers with each having an individual growth rate of about 3.04% and 3.44% during the period 2017-2022. These ingredients are fast emerging as major protein sources in the industry. Egg whites are growing mainly due to their amino acid profile and protein absorbability and pea protein due to its protein profile and sustainability. Soybean and whey is projected to dominate the protein ingredient sources with more than 40% by 2022. Increase in food safety issues related to animal protein, consumers are likely to shift more towards plant proteins like soybean, pea and canola.
The leading market players in the global Protein Ingredients Market primarily are Archer-Daniels-Midland Co. (U.S.), Solae (U.S.), Shandong Yuwang Industrial Co., Ltd (China), Shandong Sinoglory Health Food Co., Ltd (China), Gushen Biological Technology Group Co., Ltd (China), Solbar (Israel) and Nutripea (Canada)
Europe protein ingredients hold a major market share of about 39.4% of the overall volume in 2017. Increase in demand for high protein products is driving higher demand for protein ingredients in Europe. Growth in specific protein nutritional requirements for muscle growth, weight managements is also supporting the market growth. Canola among plant proteins and whey among animal proteins are projected to grow fastest among the various protein ingredients in Europe with estimated market share of more than 50% in the year 2017.
Soybean among plant proteins and whey among animal proteins are projected to grow fastest among the various protein ingredients in Asia Pacific with estimated market share of more than 60% in the year 2017. China being one the largest consumer of soybean in the world, supports soy protein ingredient market.
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Global protein ingredients market is segmented by feedstock, form, application and region.
Feedstock segment includes soy, wheat, pea, canola, whey, milk, casein, egg, beef, pork and others.
Form segment includes powder, bars, ready to drink, capsules & tablets and others.
Application segment includes functional food, sport nutrition, meat additives, other foods, pharmaceutical and others.
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