USD 43.17 billion
Global Protein Ingredients Market Size, Share, Growth Analysis, By Source(Animal Source and Plant Source), By Application(Animal Feed, Food & Beverage) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2379 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
77
Global Protein Ingredients Market Insights
Global Protein Ingredients Market size was valued at USD 43.17 billion in 2022 and is poised to grow from USD 81.54 billion in 2023 to USD 370.43 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The market is gaining important traction, determined by a surging demand for food items like cold cuts, spreads, yogurt, milk sausages, bakery products and margarine that are made using protein ingredients.
The discriminating consumption of these products, predominantly among health-conscious and aging consumers, is a key factor driving the industry's development. Moreover, the market is undergoing growth due to increased origination by various manufacturers in the realm of protein development, offering a varied array of amino acids that cater to specific functions such as satiety, muscle repair, weight loss, and energy balance. This tendency is anticipated to make substantial growth chances within the market.
There has been a distinguished surge in the consumption of animal-based products within the industry in current times, and this movement is expected to continue its rising sequence in the coming years in the U.S. The significant demand for products resulting from animal sources in the domestic market is predictable to additional boost product demand. The market is also anticipated to accept impetus from supply chain creativities initiated by ingredient manufacturing companies, leading to fortify the distribution of products during the forecast period.
Plant-based constituents, derived from crops such as pea, soy, canola, wheat, are prominent. Soy protein, in certain, has exhibited substantial development and holds the largest segment in the plant-based category.
It is composed to observe a robust CAGR in the forecast period. Furthermore, the Food and Drug Administration has granted approval for a health claim, approving the reduction of LDL cholesterol through dietary guidelines that mention four servings of soy per day to achieve a 10% reduction in LDL cholesterol levels in the body.
The market's growth is predicted to be propelled by product innovations and technological advancements. Protein ingredients find application across diverse sectors, with isolates, known for their high dispersibility and fine particle size, being lengthily used in dairy applications.
Consumer belief in the associated health benefits of these products has been an essential driver of growth in recent years, and this trend is expected to persevere throughout the forecast period.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Animal Source
Fastest Growth
Animal Source
Growth Rate
5.8% CAGR
Global Protein Ingredients Market ($ Bn)
Country Share for North America Region (%)
Global Protein Ingredients Market By Source ($ Bn)
Global Protein Ingredients Market By Source (%)
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Global Protein Ingredients Market Segmental Analysis
Global protein ingredients market is segmented on the basis of source, application and region. By source, the market is segmented into animal source and plant source. By application, the market is segmented into animal feed, food & beverage, infant formulations and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Source
In 2022, the animal/dairy protein segment is predicted to constitute a substantial revenue share, accounting for 78.94%. The pouring force behind the growth of the animal protein segment within the market stems from the rising demand for high-quality protein across various sectors, counting food and beverage, animal feed, and personal care industries. Predictable as a complete protein source due to its possession of all essential amino acids vital for human body function, animal protein is favored by consumers seeking to support a healthy lifestyle.
Plant proteins are composed to realize a noteworthy CAGR of 9.1% in terms of revenue during the forecast period, driven by the growing consumer preference for plant-based diets. The relative affordability of plant proteins related to their animal-derived counterparts is predicted to propel the growth of the plant segment in the predictable future. Furthermore, the rising trend of veganism is contributive to the surge in the consumption of plant-based elements, chiefly in North America and Europe. The perception that plant-based products offer a healthier alternative to animal-based counterparts has led to a growing adoption of products derived from sources.
Analysis By Application
The market was largely directed by the food and beverage segment, with a significant revenue share of 39.21% in 2022, and this dominance is expected to persevere throughout the forecast period. Whey protein ingredients, well-known for their cost-effectiveness, play an essential role in the bakery and confectionery industry. Ongoing progressions in process design and technology have particularly improved the quality of whey products, with a focus on highly refined variations such as demineralized whey, whey protein isolates and whey protein concentrates. These technological treads have donated to the increased integration of protein ingredients in various functional food products, inspiring them with vital nutrients.
Protein ingredients find important application in animal feed, representing another remarkable sector in the market. This sector is anticipated to exhibit the fastest CAGR of 6.3% during the forecast period. Inside the animal feed industry, there is a determined effort by companies to advocate for reduced environmental emissions, fostering a heightened demand for alternative proteins in animal feed products. The growing authority to optimize animal feed premixes, chiefly with non-GMO proteins, underscores the growing recognition of the importance of sustainable and efficient protein sources in the realm of animal diet.
Global Protein Ingredients Market By Source, 2023 (%)
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Global Protein Ingredients Market Regional Insights
In 2022, North America proclaimed its dominance in the market, impressing over 33.56% of the revenue share. The rising demand for protein ingredients in the region is driven by the increasing feeding of snacks, energy bars and cold cereals. Particularly, companies like Mead Johnson and Cargill, Inc. have donated to this trend by introducing innovative products such as Enfamil Human Milk Fortifier Liquid High Protein, designed to meet consumer preferences for cholesterol-free and low-saturated-fat beverages. This introduction of novel products is predictable to additionally stimulate the demand for protein ingredients in the North American market.
Asia Pacific is predicted to witness the uppermost growth rate, reaching 6.3% during the forecast period, attributed to the development of robust consumer markets in countries similar to China and India. China, in particular, stands out as one of the foremost producers of both plant and animal-based products, promoting the appropriate convenience of raw materials.
Global Protein Ingredients Market By Region, 2024-2031
- Largest
- Fastest
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Global Protein Ingredients Market Dynamics
Drivers
Increasing Demand for Health and Wellness Products
- The Protein Ingredients Market is observing robust development, pushed meaningfully by the swelling demand for health and wellness products. A key driver in this course is the growing global consciousness among consumers about the energetic role of protein in preserving a healthy lifestyle. As people become more health-conscious, there is a sensitive preference for food and beverage products that are not only nourishing but also rich in protein content. This trend is ambitious by the credit of protein's essential role in muscle development, weight management, and overall well-being. As a result, the market experiences a surge in the incorporation of protein ingredients into an extensive array of products, ranging from functional foods to supplements, cuisine to the expanding consumer base looking for health-centric choices in their nutritional preferences.
Rising Popularity of Plant-Based Diets
- A fundamental change in consumer dietary favorites towards plant-based eating has been practical, driven by concerns related to health, environmental sustainability, and ethical considerations. As more individuals adopt vegetarian, vegan, or flexitarian lifestyles, there is a significant surge in demand for protein ingredients sourced from plants. These plant-based proteins not only provide a sustainable alternative to traditional animal-derived sources but also align with the wider consumer tendency of looking for ethical and environmentally friendly food options. Manufacturers are responding to this shift by revolutionizing and introducing a diverse range of plant-based protein formulations, further fueling the market's expansion. The rising importance of plant-based diets reflects a consumer-driven pattern shift in dietary choices, aligning plant-derived protein ingredients as key players in the developing landscape of the Protein Ingredients Market.
Restraints
Taste and Texture Challenges
- One of the hurdles in the extensive adoption of protein ingredients fabrications in overcoming the potential changes these ingredients can introduce to the taste and texture of end products. Including certain protein sources, particularly those derived from plants, can occasionally lead to unwanted flavors or textures in the final food or beverage product. Attaining a balance between enhancing the nutritional profile with protein content and maintaining the sensory qualities that consumers expect poses a substantial challenge for manufacturers. Overwhelming taste and texture challenges is imperative for safeguarding consumer acceptance, as the perceived palatability of the end product plays a crucial role in its market success. Directing these challenges requires ongoing research and innovation to develop protein ingredients that flawlessly integrate into various applications without conciliatory the overall taste and texture that consumers associate with enjoyable and familiar food experiences.
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Global Protein Ingredients Market Competitive Landscape
The protein ingredients market is considered by intense competition, driven by a dynamic landscape shaped by factors such as innovation, product diversification, and partnerships. Key industry players are aggressively engaged in research and development activities to introduce novel protein formulations, catering to developing consumer preferences. The competitive landscape is further shaped by strategic collaborations and acquisitions. Companies are forming partnerships to enhance their capabilities in terms of processing, distribution and sourcing
Top Player’s Company Profiles
- Archer Daniels Midland Company
- Cargill, Incorporated
- Kerry Group plc
- DuPont de Nemours, Inc. (now part of IFF)
- Ingredion Incorporated
- AGRANA Beteiligungs-AG
- Fonterra Co-operative Group Limited
- Roquette Frères
- The Scoular Company
- Omega Protein Corporation
- Hilmar Ingredients
- Tate & Lyle PLC
- Glanbia plc
- Mead Johnson Nutrition (Acquired by Reckitt Benckiser)
- Amco Proteins
- Gelita AG
- Rousselot (Darling Ingredients Inc.)
- Burcon NutraScience Corporation
- Sonac BV (Darling Ingredients Inc.)
- A&B Ingredients
- Farbest Brands
- Armor Proteines
Recent Developments
-
Roquette opened the new food innovation center in Lestrem, France, in June 2023. This center will have collaborative labs for testing different plant-based components on a trial scale, a display kitchen, and a sensory analysis lab.
-
Supro Tex, a soy-based plant protein component, was introduced in November 2022 by International Flavors & Fragrances Inc., which had combined with DuPont's Nutrition & Biosciences business sector. With an 80% protein concentration, the component has a protein profile similar to that of animal meat. It is the most recent contribution to the Reimagine-Protein Program at IFF, which was started in 2017. The introduction will assist DuPont in growing the range of products it offers in the market for plant-based protein components.
- In June 2023, Roquette initiated a new food innovation center in Lestrem, France, intended at advancing research and development in the plant-based ingredients sector. The facility involves a sensory analysis laboratory, a demonstration kitchen, and collaborative labs enthusiastic to pilot-scale testing of various plant-based ingredients.
Global Protein Ingredients Key Market Trends
Sustainable Sourcing and Production
- Significant to the environmental impact of traditional food production, stakeholders in the industry are increasingly arranging sustainable sourcing of protein ingredients. This includes responsible obtaining of raw materials, includes plant-based proteins or to minimize ecological footprints and morally produced animal-derived proteins. Moreover, there is a rising focus on sustainable production processes, incorporating eco-friendly methods and technologies to decrease energy feeding and waste generation.
Global Protein Ingredients Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the protein ingredients market is experiencing a robust expansion driven by multi-layered factors. The increasing global emphasis on health and wellness, joined with a rising awareness of the importance of protein in a balanced diet, is pushing the market's growth. Plant-based proteins, in specific, are gaining prominence due to the escalating acceptance of vegetarian and vegan lifestyles, aligning with broader sustainability trends. Concurrently, advancements in food processing technologies and innovations in protein preparations are developing diverse product offerings. Though, challenges persist, such as taste and texture anxieties in certain protein ingredients. Also, the market is witnessing premeditated initiatives, acquisitions, and expansions by key players, underscoring the active nature of the industry. As the demand for sustainable, functional, and nutritious food products continues to intensify, the Protein Ingredients Market is composed for sustained growth and diversification, catering to developing consumer preferences and driving invention in the wider food industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 43.17 billion |
| Market size value in 2031 | USD 370.43 billion |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Protein Ingredients Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Protein Ingredients Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Protein Ingredients Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Protein Ingredients Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Protein Ingredients Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Protein Ingredients Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Protein Ingredients Market Report Snapshots
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