Protein Ingredients Market - Forecast(2021 - 2026)
Protein Ingredients Market Overview
Protein Ingredients Market size was valued at $ 35.69 Billion by 2020, and is anticipated to grow at a CAGR of 7.8% during the forecast period 2021-2026. The Protein Ingredients Market growth rate is attributed to the growing consumer demand for plant-based protein alternatives with growing consumer interest in foods that promote health and well-being are anticipated to bring new opportunities. Owing to the essential amino acid that has therapeutic effects, protein components are suitable for nutraceutical applications. In addition, in an effort to increase sustainable, reliable production of high-quality protein that should fuel product demand, industry players are rapidly investing in research & development which is likely to increase the demand over the forecast period (2021-2026).
Protein Ingredients Market Report Coverage
The report: “Protein Ingredients Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Protein Ingredients Market:
By Source: Plants and Animals.
By Product Type: Plant Proteins and Animal/Dairy Proteins.
By Form: Dry and Liquid.
By Application: Food & Beverage, Animal Feed, Cosmetics & Personal Care, and Others.
By Geography: North America, Europe, Asia-Pacific and Rest of World.
Key Takeaways
- North America dominated the Protein Ingredients Market with a share of 42.16% in the year 2020.
- The factors such as rising demand from food products such as milk sausages, spicy sauces, yogurt, spreads, bakery products, cold cuts, and margarine are amongst the major factor projected to impel growth of Protein Ingredients Market.
- Increased demand for protein features, recognition of balanced diets and nutritious foods, new technical advances in the protein ingredients industry, increased demand for superior personal care and healthcare products and increased consumption of animal by-products are the key factors owing the growth in the segment during forecast period 2021-2026.
Protein Ingredients Market Segment Analysis - By Product Type
On the basis of product type, plant protein segment held the highest segmental revenue share in 2020. This can be attributed to the fact that relatively inexpensive price than the animal-derived variants. As they are considered to be healthier and more nutritious than their animal-based counterparts, customers are gradually embracing plant protein ingredients. Moreover, new markets are anticipated to drive the demand for plant proteins over the forecast period 2021-2026. On the contrary, animal/dairy proteins segment is anticipated to witness significant growth along the forecast period 2021-2026 as the demand for animal protein ingredients is poised to witness significant growth owing to clear empirical evidence about the health benefits provided by them over the next few years.
Protein Ingredients Market Segment Analysis - By Application
On the basis of application, food and beverages segment accounted for the largest segmental revenue of the Protein Ingredients market in 2020 owing to the fact that various animal protein ingredients are used for the production of protein brownies, super food bites, diet truffles and grazers, such as whey protein concentrate. The use of whey protein helps improve the dietary fibre, the consistency of the dough, the volume of the finished product, the ability to maintain moisture, and the texture of the said bakery products. However, the animal feed is poised to hold the highest growth rate with a CAGR of 7.89% over the forecast period 2021-2026. This is owing to the fact that rising meat consumption, mainly in Asia-Pacific, Central and South America and Eastern Europe, is the driving force in the application of plant and animal protein ingredients to animal feed.
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