The global protein ingredients market was estimated at US$ 75 billion in 2022 and it is expected to hit US$ 127.50 billion by 2032 poised to grow at a CAGR of 5.50% from 2023 to 2032.
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The U.S. protein ingredients market was valued at US$ 17.62 billion in 2022 and it is predicted to touch US$ 30.53 billion by 2032, growing at a CAGR of 5.70% from 2023 to 2032.
North America region led the market in 2022 with revenue share of around 41%. The North American protein ingredients market size was valued 12,650 million in 2020. The growing trend of consuming healthy and nutritious food products is driving the growth of North America protein ingredients market. The other factors driving the growth of protein ingredients market in North America region are shift in consumer patterns and growing demand for vegan food products. The evidence by the United States Department of Agriculture that soy protein lowers the risk of heart disorders has propelled the protein ingredients market in the U.S. and surged the demand for other vegan proteins.
Asia-Pacific is expected to develop at the fastest rate during the forecast period. India and China dominate the protein ingredients market in Asia-Pacific region. The growth of Asia-Pacific protein ingredients market is being driven by the surge in demand for animal and plant protein ingredients. The other factors contributing towards the growth of protein ingredients market in Asia-Pacific region are economic development and expansion of food and beverage and healthcare sectors.
One of the significant factors driving the growth of global protein ingredients market is rising consumer awareness regarding healthy and nutritious food products. In addition, the growing demand for plant-based proteins is also contributing towards the growth and development of global protein ingredients market. Moreover, dieticians and doctors are recommending people to consume proteins on a large scale. This is attributed to the growing prevalence of chronic disorders and infections. Furthermore, the surge in the number of geriatric people is also boosting the expansion of global protein ingredients market.
Due to the rapid rise of the global population and growing consumer awareness of health and nutritional meals, the global protein ingredients market is expanding dramatically. The consumer knowledge of the advantages of a protein rich diet has boosted the demand for protein components in the infant formulation, nutritional supplement, and food and beverage industries all over the world. In addition, the surge in demand for soy protein is also propelling the growth of protein ingredients market. The Food and Drug Administration approved a health benefit for lowering LDL cholesterol through nutritional recommendations that recommend four meals of soy per day to help lower LDL cholesterol levels by 10% in the body.
The government all around the world is taking constant efforts for the development of global protein ingredients market. The government is investing for the expansion of food and beverage industry. This is directly impacting the growth and expansion of global protein ingredients market. Moreover, the government of emerging nations is collaborating with market players for increasing market reach in the market. The government is also conducting awareness programs for the promotion of protein ingredients among people. Thus, all of these aforementioned factors are driving the growth of global market.
|Market Size by 2032||USD 127.50 Billion|
|Growth Rate from 2023 to 2032||
CAGR of 5.50%
|North America Market Share in 2022||41%|
|Food and Beverages Segment Market Share in 2022||40%|
|Forecast Period||2023 to 2032|
|Segments Covered||Product, Application, Form, Geography|
|Companies Mentioned||Archer Daniels Midland Company, DuPont, Rousselot, Fonterra, BurconNutraScience, Kewpie Corporation, Tessenderlo Group, Roquette Freres, The Scoular Company, CHS Inc.|
The global protein ingredients market, like other large sectors or industries, had to bear the weight of the pandemic. With decreased sales and constraints, the expected growth rates dropped. The industries that made the product couldn’t function correctly. The global protein ingredients market growth has also been hampered by supply chain disruptions. While offline wholesalers and merchants suffered significant losses, the sales through online sales channel or e-commerce platforms saw a surge in demand for protein ingredients in the worldwide market. As a result, the impact of COVID-19 pandemic on the growth of global protein ingredients market was moderate in nature.
The key market participants are employing a variety of tactics in order to meet rising product demand while also lowering total costs by lowering raw material and labor prices. Due to the existence of organized and unorganized market structures in emerging and established nations, there is a great potential for public, small, and internationally famous firms in the global protein ingredients market. To grab growing markets and combat with domestic firms, major market players are pursuing acquisitions and mergers. The strategy has also aided corporations in expanding distribution networks in order to improve product supply across regions.
The animal proteins segment accounted revenue share of around 71% in 2022. The growth of the segment is attributed to a rise in health and fitness consciousness. Furthermore, animal protein is widely employed in a variety of applications, including pet food and cosmetics, whereas egg and milk proteins are often used in confectionary and baking items.
The plant proteins segment is fastest growing segment of the protein ingredients market in 2021. The expansion of the segment can be attributed to the low cost of plant proteins as compared to animal proteins. The consumers are gradually adopting plant protein sources since they are perceived to be healthier and more nutritious than their animal-based alternatives.
The food and beverages segment dominated the market in 2022 with revenue share of 40%. The customers are increasingly focusing on healthy diets with low fat and high nutritive value foods, leading to an increase in the consumption of protein components. As a result, there is a growing need for functional and nutritional food.
The infant formulations segment is expected to hit strong growth from 2023 to 2032. The premixes for infants can contain either plant or animal proteins. The milk protein isolates and concentrates are commonly utilized in newborn formulae. The liquid ready to eat and powder or liquid versions of the products are available on large scale. The non-fat milk, partially hydrolyzed whey protein, and casein concentrates are all products made from cow milk.
Segments Covered in the Report
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