Protein is a vital constituent of the cells in the human body that help in repairing and healing the human body. However the human body is incapable in producing such vital 9 amino acids required for healing of cells in the human body. Hence it is of utmost importance that proteins must be consumed through diet. Proteins may be acquired through animal source or plant source – the so called Dairy Proteins and Soy Proteins. Animal Proteins are usually derived from fish, milk, meat, egg and gelatin. On the other hand, Plant Protein is obtained from rice, pea, soy, canola and wheat. Milk and soy have a substantial element of proteins, hence they are preferred by all age groups. Owing to the advancement in extraction techniques, the different types of protein ingredients obtained from milk and soy are named as concentrates, isolates and hydrolysates, amongst which isolates has about 90% of the protein content.
One of the key drivers for the growth of the market is the strong scientific evidence supporting health benefits. Ongoing research conducted by scientists has proved that protein ingredients are the best source to keep the body fit. Whey proteins are beneficial for cancer patients as well. Increasing consumer awareness, especially for functional foods and dietary supplements, has been a critical factor for market development in recent times. With egg proteins finding market penetration tough on account of unattractive prices and increasing sensitivity to wheat glucans, especially in the U.S., plant and dairy proteins are expected to witness enhanced demand over the next six years. However, the volatile price of protein ingredients is expected to have a negative impact on the development of the market. Owing to the imbalance in the supply-demand of grains, the prices of soybean continuously fluctuates. This ultimately increases the cost of production of protein ingredients resulting in manufacturers refraining from producing protein ingredients. The global protein ingredients market was 3,186.7 kilo tons in 2013 and is expected to reach 4,583.1 kilo tons by 2020, growing at a CAGR of 5.4% from 2014 to 2020.
Soy protein concentrates was the highest consumed form of Soy Protein accounting for over 33% of global demand in 2013. The key reason for the high share is the fact that being edible, soy has negligible amount of cholesterol and saturated fats. Soybeans are vegetable foods which comprise of all the eight amino acids essential for the growth of the human body. Soy protein isolates were the second largest segment accounting for over 31% of the global Soy Protein ingredient demand in 2013. Soy protein isolates is a refined form of soy protein comprising of 90% protein content. It is utilized in meat products for improvising the eating quality and texture. It is rarely found in stores and majorly used in the food industries. Soy protein isolate has less usage owing to allergenic potential in human body. Whey protein concentrates were the largest consumed Dairy Protein ingredients accounting for 28% of global Dairy Protein demand. Milk protein and Casein were the other largely consumed Dairy Protein ingredients and are expected to show moderate growth over the forecast period.
Food and beverage was the largest consumer of protein ingredients accounting for over 50% of global demand in 2013. The increasing demand for functional foods in developed countries is expected to have a positive impact on the market over the next six years. Infant formulation was the second largest application segment accounting for 20% of global protein ingredient consumption in 2013. The other key application segments include personal care, cosmetics and animal feed.
Europe was the largest regional market for protein ingredients accounting for over 45% of global demand in 2013. The high share can be attributed to growing consumer awareness regarding health benefits of protein coupled with growth in applications such as food and beverage and cosmetics. Asia Pacific is expected to register fastest growth, at an estimated CAGR of 6.4% from 2014 to 2020 owing to growing exports and domestic demand.
The global protein ingredients market is moderately concentrated with the top 5 players accounting for nearly 80% of the market in 2013. The key players in the market DuPont, Bunge, Cargill, ADM and Mead Johnson among others
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