Global Protein Ingredients Market: Snapshot

Presence of numerous players owing to low entry barriers makes the global protein ingredients market highly fragmented. It is competitive too. In order to thrive in such a cutthroat overcrowded space, nimble players are seen banking upon product development. This is definitely having a positive impact on the global protein market.

Apart from that, increasing popularity of pea and soy proteins is also proving beneficial for the market. Growing demand for dairy products and eggs is benefitting the global protein ingredients market too. A noticeable trend in the market is the demand for “purer” products with reduced processing. This has led to development of newer products, namely native whey and micellar casein. This is further positively impacting the global protein ingredients market.

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Rise of convenience foods with added nutrients and the growing preference for fortified foods is another factor helping demand in the global protein ingredients market. One drawback, which the market has to contend with, is the comparatively reduced consumption of plant proteins and the harmful effects of gelatin.

As per a report on the global protein ingredients market by Transparency Market Research, it would rise at a steady 6.5% CAGR between 2017 and 2027. At this pace, the market which was worth US$31.8 bn in 2016 will likely become worth US$64.35 bn by 2027.

Animal Proteins Lead the Global Protein Ingredients Market

The two main types of products in the global protein ingredients market are animal protein and plant protein. Plant proteins ingredients are mainly derived from wheat, soy, and pea. Meanwhile, animal protein ingredients are derived from eggs, caseinates, and animals. Between the two, the segment of animal protein currently leads the market with an outsize share in revenue generation. In 2016, as per the TMR report, it accounted for almost 80.0% share in the protein ingredients market. This is because of the rising consumption of dairy products and eggs.

In the upcoming years, demand for soy protein is predicted to rise at a speedy pace because of the increasing usage of concentrates, soy isolates, and texturized vegetable proteins.

Depending upon the form again, the global protein ingredients market is segmented into concentrates and isolates. Between the two, the protein concentrates enjoy a greater share in the market.

Highly Developed Food and Beverage Industry Makes North America Leading Revenue Generator

From a geographical standpoint, the global protein ingredients market is spread across North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific. Among them, North America accounts for a leading position owing to the highly developed food and beverage industry and the increased spending capacity of people in the region. In 2016, North America led the market with a revenue contribution of US$11.96 bn. Going forward, the North America protein ingredients market is set to rise further to maintain its leading position because of the solid awareness among people about the health benefits of protein.

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Europe also holds a prominent position in the global protein ingredients market. However, both Europe and North America market have become saturated. This has egged savvy players in the regions to go for product innovation to grow sales. Meanwhile, this has also led most to turn their gaze upon Asia Pacific and Latin America which are developing protein ingredients market.

Some of the prominent participants in the global protein ingredients market are Cargill Plc., Glanbia Plc., Archer Daniels Midland Co., Solae LLC, and Kerry Group Plc.