Global protein ingredients market expected to reach USD 44.6 billion in 2024, growing at a CAGR of slightly above 7.0% between 2018 and 2024. Soy protein isolate (SPI) and Soy protein concentrate (SPC) are highly digestible plant-based protein sources. Its high level of amino acid makes it suitable to be used as a food ingredient for people in need of high protein.
The report covers forecast and analysis for the protein ingredients market on a global and regional level. The study provides historic data of 2015-2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study includes drivers and restraints for the protein ingredients market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the protein ingredients market on a global level.
This report offers a comprehensive analysis of the global protein ingredients market along with, market trends, drivers, and restraints of the protein ingredients market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary, and the primary research team of industry experts.
The study provides a decisive view of the protein ingredients market by segmenting the market based on source, application, and region. All the segments have been analyzed based on present and the future trends and the market is estimated from 2018 to 2024. Based on the source, the segmentation of protein ingredients market is animal based and plant-based. Based on application, the segmentation of protein ingredients market is pharmaceuticals, cosmetics, animal feed, infant formulation and food & beverages. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into countries such as the U.S., Canada, Mexico, Russia, Germany, the UK, France, China, Japan, India, Brazil, Argentina, and Saudi Arabia.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global protein ingredients market such as Mead Johnson, Bunge, DuPont, Cargill, Bio Wanze, Crop Energies, Roquette, Kewpie Egg Corp, Nutra Science, Burcon, Rousselot, Scoular, Tessenderlo, and Fonterra.
The report segments global protein ingredients market as follows:
Protein Ingredients Market: Source Segment Analysis
Protein Ingredients Market: Application Segment Analysis
Protein Ingredients Market: Regional Segment Analysis
Soy protein isolate (SPI) and soy protein concentrate (SPC) are processed food ingredients made from defatted soy meal from water extraction process. The resulting isolate and concentrate contains 65 to 90% protein and is used to enrich food products. Soybeans consumed to manufacture SPC and SPI are produced in the United States. SPI and SPC are packed in 20/25 kgs, polyethylene-lined paper bags. These are heat treated during processing in order to kill pathogenic microorganisms and inactive enzymes to have a better shelf life of up to 2 years. Adverse conditions such as storage temperature and high humidity do not impact its shelf life. However, 60% relative humidity and storage under 75°F enhances the shelf life of SPI and SPC.
Growing fish meal production due to bulging adoption of fish farming and to ensure consistent fish supply will fuel the animal feed industry. Availability of a variety of wellness products along with consumer’s shift towards health management will fuel food protein ingredients consumption thus boosting the protein ingredients market. Global wellness supplements sales were nearly USD 185 billion in 2016 and will surpass USD 245 billion by 2024, by registering gains of over 6.5%. Proteins are building blocks of a human body, synthesized from amino acids and are found majorly in tissues, bone, skin, and hair. Growing usage of dietary supplements in pre- and post-workout replenishment as muscle building product will positively influence the protein ingredients consumption.
Based on the source, the global protein ingredients market is segmented into animal based and plant-based. Plant-based protein products would witness considerable gains over the forecast timeframe. Soy concentrates are the vital component of this segment due to its fat retention capacity and easily digestible characteristics. These are mostly consumed by the geriatric population, pregnant women, and babies. Various applications pertaining to protein ingredients are food & beverages, animal feed, infant formulation, cosmetics, and pharmaceuticals. Infant formulation is anticipated to register substantial growth during the forecast timeframe. Majority of the infants are consuming milk protein-based infant formulas. These are available in the form of liquid ready to feed, liquid concentrate, and powder.
Regional segmentation of the global protein ingredients market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe protein ingredients market is dominated by Germany, Italy, the UK, and France; it will register significant gains during the forecast period. Favorable norms by EFSA to improve daily nutritional intake will entice regional industry growth. Additionally, development in industrial livestock to maintain protein supply and food security throughout the region will enhance product consumption in the region.
Global protein ingredients market is consolidated in nature with high competition among the existing players. Prominent manufacturers in the industry include Mead Johnson, Bunge, DuPont, Cargill, and ADM. Other noticeable producers are Bio Wanze, Crop Energies, Roquette, Kewpie Egg Corp, Nutra Science, Burcon, Rousselot, Scoular, Tessenderlo, and Fonterra.
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