Protein Ingredients Market Report Overview

The Protein Ingredients Market size is expected to be worth around USD 114.93 billion by 2032 from USD 39.4 billion in 2022, growing at a CAGR of 11.30% during the forecast period from 2023 to 2032.

Demand for protein ingredients market is on the rise, and there is high demand for food products such as margarine and cold cuts. The market growth is rising due to the changing consumption patterns of these products by both the elderly and health-conscious consumers. Clean eating and a healthy lifestyle are the key trends leading to a considerable increase in awareness of health and functional ingredients.

Moreover, this market is also expected to benefit from tremendous growth opportunities due to the increased innovation of proteins from different manufacturers. These proteins are a wide range of amino acids for serving specific functions such as weight loss, muscle repair, energy balance, and satiety.

Global Protein Ingredients Market Scope:

Product Type Analysis

On the basis of Product Type, the Animal-Based Proteins segment dominated this market, accounting for over 69.2% of global revenues in 2021. Animal protein ingredients offer many health benefits that have been confirmed by scientific evidence and are recognized by government food regulatory agencies. This is expected to continue to drive segment growth and future trends, owing to the high demand for animal by-products. Whey, for example, increases glutathione levels and improves nutrition and immunity in patients who are undergoing chemotherapy.

The cost of plant proteins is much lower than animal-derived versions, which is also expected to fuel segment growth. In North America and Europe, veganism is a key trend that encourages the use and consumption of plant-based ingredients. Soy and wheat products are being increasingly adopted because they are perceived as healthier than their animal-based counterparts. Although pea protein is less popular than soy protein and wheat protein, its revenue-based CAGR is projected to be 12.9% over the forecast period.

Because of their use in personal care and cosmetics, the demand for cereal-based ingredients is slated to continue to grow. Corn-based ingredients are used in hair and skin care products as a pacifying, skin conditioning, and hair conditioning agent. This is set to rise the demand for plant protein in the near future.

The growing acceptance of legumes as a protein source is driving the segment for legume-based proteins. This is leading to an expansion of plant protein as a nutritional supplement.

The protein ingredients market size is expected to be influenced by the growing consumption of legume-based snacks. Consumers are increasingly accepting healthy food due to increasing incidences of obesity, digestive problems, and diabetes. It is clear that legumes are able to prevent or reduce the onset and progression of several health disorders, such as cell damage and high blood pressure. This is proliferating the demand for nutritious food products.

The growth in animal feed applications has led to an increase in the demand for micro-based protein products. The growing use of microbe-based protein in aquaculture feed is one of the key factors driving this segment’s growth. This is due to the increase in fish farming worldwide, which accounts for half of the world’s fish supplies for food applications. This number will continue to increase over the next few decades, which will lead to a surge in microbe-based protein segments. It is a key ingredient that supplies aquaculture with nutritive value as well as high-quality amino acids.

Application Analysis

With respect to Application, this market’s largest segment, food & beverages, accounted for over 41.3% of global revenues in 2021. Whey protein ingredients are a cost-effective source of protein. They are widely used in bakery and confectionery applications. The quality of whey products has improved due to technological advances and process design. To make functional food and beverage products and give them a more nutritional profile, these advances have allowed for the increased use of protein ingredients.

Beverages that contain protein ingredients can be used to make liquid form. Ready-to-drink, protein-rich beverages are gaining popularity among fitness-conscious consumers. This is slated to increase the consumption of healthy food as well as expand the beverages segment in the future. These ingredients can also be used in beverages to enhance textural properties and increase their particulate levels. These are key driving factors to increase the value of other beverages and improve overall consistency.

As protein is an important component of infant diets, the application segment for Infant Formulations is expected to grow significantly in the coming years. Premixes can contain animal, plant, or egg protein. For infant nutrition, formulas that contain milk protein concentrates or isolates are popular. It is available in dry form, ready-to-eat, and liquid concentrate forms. There are many products made from cow milk, including partially hydrolyzed and concentrated whey protein, a combination of casein, and non-fat milk. This is giving rise to a wide variety of dairy applications across various business segments.

The biopharmaceutical sector has registered a spike in the number of products containing protein ingredients due to the increasing research and development endeavors in protein-based products. These form of protein ingredients are in high demand due to the increasing awareness of nutrition deficiencies and health consciousness and is responsible for the growth of protein ingredients market size.

Кеу Маrkеt Ѕеgmеntѕ

By Product Type

• Microbe-Based Proteins
• Animal/Diary Proteins
• Plant Proteins
• Insect Proteins

By Application

• Infant Formulations
• Clinical Nutrition
• Animal Feed
• Food & Beverages
• Other Applications

Market Dynamics

For years, animal-based products have been the primary source of protein in developed countries. In recent years, there has been an increase in demand for traditional protein in developing nations. However, the market for alternative proteins has seen a shift in consumer behavior. People have also reduced the consumption of animals due to animal welfare, cultural restrictions, and health concerns. This has limited the market share for animal-based protein. Whereas a new emerging market in the food industry for plant protein is set to grow.

Plant-based ingredients can be made from any of the following crops: soy, canola, and wheat. Soy protein is the most popular plant-based ingredient. It has grown at an impressive rate as it can also be consumed by people with lactose intolerance. Over the forecast period, the demand for these ingredients is expected to grow at a high compound annual growth rate. The Food and Drug Administration (FDA), has approved a health claim to reduce LDL cholesterol. Dietary guidelines suggest four servings per day of soy, which will help lower LDL cholesterol by 10%.

Market growth is anticipated to be driven by technological innovations and product innovations. Different applications are now possible for protein ingredients. For example, isolates are highly dispersible and have a very small particle size, making them popular as a dairy protein. Rising product demand for these ingredients has been a key market driver in recent years due to consumers’ belief in their health benefits. The trend is expected to continue over the forecast period. Hence the market players should take advantage of this opportunity.

Regional Analysis

North America held the largest share of the regional market, accounting for over 41.4% of global revenues in 2021. A growing number of people are now eating more protein-rich foods such as snacks, egg protein, and cold cereals. Companies in North America such as Mead Johnson, and Cargill Inc., for example, have introduced new products, including Enfamil Human Milk Fortifier Liquid High Protein, to meet consumer demand for low-sodium and cholesterol-free beverages.

Germany was Europe’s largest revenue earner in 2020. Medical and geriatric nutrition products that aid in maintaining bone and muscle health have been in high demand due to the surge in German geriatric populations. These ingredients have been in high demand in recent years. This market has also been positively affected by the inclusion of protein ingredients to treat Alzheimer’s disease.

The Asia Pacific will experience the fastest revenue growth over the forecast period, due to emerging markets in India and China. China is one of the major players in animal- and plant protein ingredient market products due to its easy access to raw materials. In Asia Pacific, China is a big consumer of soy protein. Soy was responsible for over 91% of the plant-based protein market. In the coming years, South Korea, Malaysia, and Indonesia will be reliant on packaged foods and beverages industry, which is expected to drive protein ingredients market growth in China, Indonesia, South Korea, and India.

Key Regions and Countries Covered іn This Rероrt

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Saudi Arabia
  • Rest of MEA

Market Share & Key Players Analysis

The market for protein ingredients is extremely competitive. Global market manufacturers are using innovative strategies to increase their product offerings and brand recognition. Innovative strategies like creating a plant-based product line, and expanding their product reach by acquisitions, etc are adopted.

The prominent players who have the largest market share dominate the industry. However, the main strategies of companies in the protein ingredients industry are geographic expansion, product innovation, mergers and acquisitions, and joint ventures.

Industry participants in the competitive landscape are likely to be successful over the next few decades by incorporating protein powders into different products. They are also expanding their range of protein derivatives in key countries. Bunge Limited, for example, expanded its clean-label ingredients portfolio by adding functional flour made from lentils. These new product launches high in protein and can be used as a replacement for modified starches.

Кеу Маrkеt Рlауеrѕ

• DuPont
• Rousselot
• Fonterra Co-operative Group Limited
• Archer Daniels Midland Company
• Burcon NutraScience
• Kerry Group plc
• Tessenderlo Group
• Glanbia PLC
• Kewpie Corporation
• Roquette Frères
• Arla Foods Ingredients
• Omega Protein Corporation
• CHS Inc.
• Axiom Foods
• AGT Foods
• Mead Johnson Nutrition Company
• Davisco Foods International, Inc.
• Cargill Incorporated
• Other Key Players