The latest report by IMARC Group, titled “Protein Ingredients Market Report by Product Type (Animal Proteins, Plant Proteins), Application (Food and Beverages, Personal Care and Cosmetics, Pharmaceuticals, Animal Feed), and Region 2024-2032“, The global protein ingredients market size reached US$ 42.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 64.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032.
Factors Affecting the Growth of the Global Protein Ingredients Industry:
- Increasing Health Consciousness:
One of the primary drivers of the market is the growing awareness of health and wellness among consumers worldwide. With a surge in fitness and health-related activities, there’s a heightened demand for protein-rich diets. Protein ingredients, derived from various sources such as plants, animals, and microorganisms, offer essential amino acids crucial for muscle building, weight management, and overall health maintenance. This trend is particularly prominent among millennials and Generation Z, who are increasingly adopting healthier lifestyles. Furthermore, the rising prevalence of lifestyle diseases such as obesity and diabetes has prompted individuals to opt for protein-enriched foods and supplements, bolstering the market growth.
- Rising Plant-Based Protein Popularity:
The burgeoning popularity of plant-based diets is significantly influencing the protein ingredients market. The shift toward vegan and vegetarian lifestyles, driven by concerns over animal welfare, environmental sustainability, and personal health, has spurred the demand for plant-based protein sources like soy, pea, and rice proteins. These plant-based proteins are perceived as cleaner and more sustainable alternatives to animal-based proteins. Additionally, innovation in food technology has led to the development of high-quality plant-based proteins that offer comparable amino acid profiles to animal proteins. This trend is not limited to vegetarians or vegans; even meat-eaters are increasingly incorporating plant-based proteins into their diets, fueling market expansion.
- Increasing Adoption of Functional Food and Beverages:
The expanding functional food and beverage sector is a significant factor propelling the protein ingredients market. Protein is a vital component in many functional foods due to its numerous health benefits, including energy provision, muscle repair, and satiety. The integration of protein ingredients into everyday food items like snacks, beverages, and ready-to-eat meals caters to the busy lifestyles of modern consumers seeking convenient yet nutritious food options. The innovation in flavor and texture of protein-enriched products has also enhanced their appeal. Additionally, the aging population, which requires higher protein intake for muscle maintenance and overall health, contributes to the growing demand in this market segment.
Competitive Landscape with Key Player:
- Cargill Inc.
- Archer-Daniels-Midland Company
- Kerry Group
- Omega Protein Corporation
- Mead Johnson
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/protein-ingredients-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Animal Proteins
- Egg Protein
- Whey Protein
- Gelatin
- Casein
- Milk Protein Concentrates/Isolates
- Plant Proteins
- Wheat Protein
- Soy Protein
- Pea Protein
- Others
Animal-proteins represented the largest segment as they are widely available in various forms, which contributes to their dominance in the market.
- Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Animal Feed
Food and beverages represented the largest segment due to the escalating awareness of the importance of protein in the diet.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Europe leads the market due to the rising consciousness about health and wellness.
Global Protein Ingredients Market Trends:
There is a rising consumer preference for plant-based protein sources, driven by health and sustainability concerns. Plant-based proteins derived from sources like soy, pea, and rice are gaining popularity, and food manufacturers are incorporating them into a wide range of products. Besides, beyond traditional plant-based proteins, alternative protein sources such as algae, insects, and fungi are gaining attention for their nutritional value and sustainability. These alternative proteins are being explored for use in food products and supplements.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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