Protein Ingredients Market Size, Share & Trends Report

Protein Ingredients Market Size, Share & Trends Analysis Report By Product (Plant Protein, Animal/Dairy Protein), By Application (Food & Beverages, Personal Care & Cosmetics), And Segment Forecasts, 2020 - 2027

  • Published Date: Mar, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-451-2
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 150

Industry Insights

The global protein ingredients market size was USD 38.02 billion in 2019 and is anticipated to experience a CAGR of 9.1% from 2020 to 2027. Rising demand from food products such as milk sausages, spicy sauces, yogurt, spreads, bakery products, cold cuts, and margarines is anticipated to drive the growth.

Plant-based protein ingredients are produced from crops such as wheat, canola, pea, and soy. Soy protein market has been expanding at a significant pace owing to health benefits offered by the product. The product is chiefly extracted from soybean meal that has been defatted. Defatted soybeans are then processed to obtain different commercial products including soy flour, concentrates, and isolates.

U.S. protein ingredients market

The industry in U.S. has witnessed a considerable increase in consumption of animal proteins in the recent past. A further increase in anima; protein consumption is anticipated over the next few years. Significant demand for animal-based protein in domestic market is expected to propel the market in U.S. Initiatives taken to strengthen the supply chain are projected to positively impact the U.S. animal proteins market over the forecast period.

Plant and dairy protein ingredients are being used in a wide range of novel applications, including manufacturing of paper, printing inks, paper coatings, paints, fertilizers, insect sprays, and sizing for textiles. Studies related to the application of soybean protein extracts as a dry strength additive have been conducted over the past few years.

Dry strength additives are an important set of compounds that are essential for maximizing the mechanical integrity of papermaking products. Soybean protein is used for manufacturing dry strength additives, as it is inexpensive and effective compared to carboxymethyl cellulose, guar gum, chitosan, and polyacrylamides. Plant protein extracts are employed as substitute for linseed extracts in paint manufacturing.

Product Insights

Plant protein ingredients market is expected to grow significantly over the next few years on account of relatively inexpensive price than the animal-derived variants. Consumers are increasingly adopting plant protein ingredients as they are perceived to be healthier and more nutritious than their animal-based counterparts.

Soy protein was the largest plant-based product segment in 2019 and is anticipated to remain so over the forecast period. Soy concentrates are widely used as supplements for pregnant women, children, and elderly on account of easy digestibility. These concentrates are used extensively in baked food, cereals, and meat products.

New markets are expected to drive the demand for plant proteins over the forecast period. New Zealand is an emerging market for the product owing to abundant availability of favorable plant crops. Some of the high potential plant crops in this country considered as superior sources of protein include amaranth, kiwifruit seeds, potato, tree nuts, alfalfa, and wrinkled peas. Such factors are expected to encourage manufacturers of plant proteins to set up their facilities in New Zealand in near future.

Animal/dairy proteins emerged as the largest segment in 2019 with a market share of over 75%, in terms of revenue. The demand for animal protein ingredients is likely to witness significant growth over the next few years on account of strong scientific evidence regarding the health benefits offered by them. For instance, whey proteins enhance immunity and nutritional status as well as increase Glutathione (GSH) levels in cancer patients undergoing chemotherapy.

Various ingredients such as whey protein concentrates, hydrolysates, and isolates; milk protein concentrates/isolates; egg protein, gelatin, collagen peptides, and casein/caseinates form a major part of animal proteins. Growing consumer awareness regarding dietary supplements and functional food has been a critical factor contributing to the segment growth in recent times.

Application Insights

In the bakery industry, various animal protein ingredients, such as whey protein concentrate, are utilized for producing protein brownies, superfood bites, diet truffles, and grazers. The use of whey protein helps increase the dietary fiber, dough strength, finished product volume, moisture retention capacity, and the texture of the said bakery goods.

Growing consumer awareness regarding healthy and nutritious diet and increasing demand for energy drinks and processed foods are among the other factors expected to contribute to the demand for plant-based ingredients such as hemp and soy. The growing food industry, on account of the increasing population and changing lifestyle of consumers, is expected to drive the overall demand during the forecast period.

Global protein ingredients market

The rising popularity of RTD protein beverages has been fueling the demand around the world. In this regard, instant beverages are witnessing widespread consumption. These beverages have a high nutritional profile and contain a combination of concentrated protein ingredients. The use of these products in such beverages helps improve the textural properties of the beverages by increasing their particulate level.

Plant and animal protein ingredients are utilized in the form of powders or liquid in animal feed additives to provide essential nutrition to animals to help in their overall growth. Animal and plant protein ingredients when added to feed mixtures aid in increasing the rate of weight gaining in animals, improving feed digestion and conversion, and preventing diseases and vitamin deficiencies.

Increasing consumption of meat, primarily in Asia Pacific, Central and South America, and Eastern Europe, is the factor driving the use of plant and animal protein ingredients in animal feed application. In addition, the growing demand for protein-rich meat and rising awareness concerning the quality of meat product in countries such as China, India, Japan, Brazil, and Russia are the factors anticipated to further boost the demand over the projected period.

Regional Insights

North America is expected to expand at a significant CAGR over the forecast period on account of increasing consumption of energy bars, cold cereals, and snacks. New product introductions by companies including Cargill and Mead Johnson are focused on consumer needs for low saturated fat and cholesterol free beverages thus augmenting demand.

In terms of volume and revenue, animal protein was the second largest segment in Europe in 2019. Increasing use of protein-based ingredients in food and healthcare industry is predicted to fuel the demand for protein ingredients in this region over the next few years. In addition, aquafeed demand in Europe increased significantly over the past decade on account of the expansion of marine aquaculture particularly in Norway, Denmark, and Ireland.

Asia Pacific is expected to register the fastest growth, owing to growing exports and domestic demand for plant and animal protein ingredients. China is one of the largest producers of animal and plant protein due to easy availability of raw materials. In addition, growth in healthcare and food and beverage industries is likely to propel the demand in developing economies, such as China, India, Indonesia, Malaysia, and South Korea over the next few years.

Expanding personal care industry in Central and South America owing to increasing expenditure on beauty and cosmetic products is anticipated to push FMCG companies to increase their production capacity. Thus, increasing production of personal care products is anticipated to propel the regional market growth over the next few years.

Protein Ingredients Market Share Insights

The market has been experiencing vital developments pertaining to product innovation and portfolio expansion, among others. Public companies have been proactive in initiating tactics to gain a competitive advantage in the market. In near future, privately held market participants are expected to follow suit.

The market is consolidated and is described by numerous activities including mergers, acquisitions, and joint ventures. Key players include Cargill, Bunge, DuPont, ADM, and Mead Johnson. For instance, Archer Daniels Midland (ADM) completed the acquisition of Neovia in July 2018. Neovia had 72 production facilities of animal nutrition solutions across 25 countries in that year.

Report Scope

Attributes

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Volume in Kilotons; Revenue in USD Million; and CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Central and South America, Middle East & Africa

Country scope

U.S., Canada, Mexico, France, Germany, Italy, U.K., China, Japan, India, Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts volume and revenue growth at a global, regional, and country level, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global protein ingredients market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilotons, Revenue, USD Million, 2016 - 2027)

    • Plant Proteins

      • Wheat

      • Soy

      • Pea

      • Canola

      • Rice

      • Potato

      • Hemp

      • Oat

      • Almond

      • Corn

      • Others

    • Animal/Dairy Proteins

      • Egg Protein

      • Milk Protein Concentrates/Isolates

      • Whey Protein Concentrates

      • Whey Protein Hydrolysates

      • Whey Protein Isolates

      • Gelatin

      • Casein/Caseinates

      • Collagen Peptides

  • Application Outlook (Volume, Kilotons, Revenue, USD Million, 2016 - 2027)

    • Foods & Beverages

    • Infant Formulations

    • Personal Care & Cosmetics

    • Animal Feed

    • Others

  • Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • France

      • Germany

      • Italy

      • U.K.

    • Asia Pacific

      • China

      • Japan

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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