According to Arizton’s latest research report, the protein ingredients market will grow at a CAGR of 6.49% from 2022 to 2028.
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The global protein ingredients market is set to continue evolving to meet the needs of an ever-growing and increasingly diverse population. Manufacturers must stay ahead of the curve to remain competitive and relevant. This means investing in R&D to create innovative, high-quality products that provide unique nutritional benefits without sacrificing taste. Similarly, suppliers must devise strategies to source sustainable and ethical proteins to meet changing consumer preferences.
Growing Number of Vegan Population Creating Buzz in the Protein Ingredients Market
A rise in preference for vegan and plant-based diets among consumers owing to increased concerns regarding animal and environmental protection drives the market for plant-based products. Millennials are the main drivers for the global shift away from animal-based product consumption. Renowned celebrities, world-class athletes, and large companies promote the consumption of more plant-based products. Countries such as China also support the vegan movement. Moreover, professional athletes adopt plant-based diets, breaking the myth about animal proteins. Some popular athletes include Kendrick Farris, a weightlifter from the Rio Olympics; a popular tennis player, Venus Williams; Patrik Baboumian, an Armenian-German strongman; and Heather Mills, a former skier and an amputee. Several celebrities also give up animal diets and embrace plant-based food and beverages. As a part of a broader initiative, Google also shifted toward implementing more plant-based food for its employees. Google recognizes meat consumption as an essential part of its carbon footprint. The company has been working with Better Buying Lab to develop strategies to help consumers purchase and consume more sustainable foods. In addition, many schools and teachers in the US and Europe implement more vegan meal options in school lunches.
Recent Developments in the Protein Ingredients Market
- In 2022, International Flavors & Fragrances (IFF) launched its next-generation plant-based protein – SUPRO® TEX – to enhance growth in the meat alternative segment beyond ground meat burgers.
- In 2023, FrieslandCampina, a prominent player in the global proteins and prebiotics industry, announced its plan to increase its production of whey protein isolate and milk fat globule membrane (MFGM) twofold.
Key Highlights
- APAC is one of the fastest-growing markets and is expected to grow at a CAGR of 7.52% during the forecast period. Enhancements in digital infrastructure in emerging countries, such as India and China, offer significant opportunities for online platforms to promote the sales of products in the region.
- Based on application, the global protein ingredients market is dominated by food & beverages, with a share of 42.11% and expected to grow with a CAGR of 6.83%.
- The rise and fall in the price of raw materials, such as soy, pea, almond, coconut, rice, and other ingredients required to produce plant-based protein supplements directly impact the cost of production.
- The demand for plant-based meat is rising due to the increased adoption of a flexitarian lifestyle.
About the Report
The global protein ingredients market is provided for the forecast years 2023 to 2028 and the base year 2022. The market is segmented by source, application, form, and geography. The report provides a holistic approach to the global protein ingredients market to enable customers to analyze the market thoroughly.
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Key Company Profiles
- ADM
- Cargill
- FrieslandCampina
- International Flavors & Fragrances (IFF)
- Fonterra Co-operative Group
- Kerry
- Arla Foods
- Bunge
- Corbion
- Fuji Oil
- GELITA
- Glanbia
- AMCO Proteins
- The Scoular Company
- Wilmar International
- Roquette Frères
- Sudzucker AG
- Hilmar Cheese Company
- Ingredion
- Burcon
- COSUCRA
- A&B Ingredients
- TATE & LYLE
Market Segmentation
Source
- Animal
- Plant
- Insect
- Microbial
Animal
- Meat
- Dairy
- Whey Protein
- Milk Protein
- Casein & Caseinates
- Eggs
- Aquaculture & Fisheries
Plant
- Soy
- Wheat
- Pea
- Others
Insect
Microbial
Form
- Dry
- Liquid
Application
- Food & Beverages
- Meat & Meat Alternatives
- Dairy & Dairy Alternatives
- Bakery Products
- Performance Nutrition
- Convenience Foods
- Others
- Animal Feed
- Personal Care & Cosmetics
- Pharmaceuticals
Geography
- North America
- The US
- Canada
- Europe
- Germany
- The UK
- France
- Italy
- Spain
- Poland
- Netherlands
- APAC
- China
- Japan
- India
- Indonesia
- South Korea
- Australia
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- The UAE
Key Questions Answered in the Report:
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