Global Protein Ingredients Market: Overview
The rising ranks of health conscious people worldwide has led to a flourishing protein ingredients market. Protein ingredients can be derived either from animals or from plants. While animal proteins are obtained from meat, fish, egg, milk, and gelatin, plant proteins are procured from canola, rice, soy, pea, and wheat.
Milk and soy are said to be most rich in proteins and hence they are preferred by all age groups. On account of the continued progress in extraction techniques, the various types of ingredients procured from milk and soy are named as concentrates, isolates, and hydrolysates. Among them, isolates have about 90% of the protein content.
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Global Protein Ingredients Market: Key Trends
The foremost driver in the global protein ingredients market is the rising awareness of the fact that they help to keep one’s body fit like no other. As a result consumers are increasingly opting for dietary supplements and functional foods. The human body cannot manufacture vital amino acids for repairing cells and hence they need to be provided through diet.
Negatively impacting the global protein market is the unstable prices of the ingredients. On account of the imbalance in the supply-demand of grains, for example, the cost of soybean changes all the time. This eventually reflects in the prices of protein ingredients, thus having a negative impact on the industry.
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Protein Ingredients Market: Market Potential
Among the two major types of protein ingredients, the one derived from animals holds a dominating share in the market by dint of having higher nutritional quotient. It has overtaken those derived from plants to find widespread application in end use sectors such as functional beverages. Difficulty in finding substitutes for egg and gelatin in confectionery applications has also led to its sustained demand. The global market for animal feeds is predicted to expand at a good clip in the near future as well.
The food and beverage section holds maximum potential in the global market for protein ingredients on account of the rising health consciousness among consumers who desire healthy diets and nutritious food. Further, proteins are also used for their functional properties such as texturing, solubility, emulsifying, stabilizing, and binding. These functional properties allow manufacturers to reduce their raw material costs for they function as substitutes to certain food additives and help impart specific properties. Because of this, protein ingredients are seeing substantial consumption and demand from segments such as dietary supplements, bakery, beverages, dairy, infant formula, and other food products.
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Global Protein Ingredients Market: Regional Outlook
Geographically, the key segments of the market are Asia Pacific, Europe, North America, and the Middle East and Africa. Asia-Pacific, among them, is predicted to gain maximum share in the market in the near future because of its massive population and its increasing ability to splurge of healthy food items. The market in Asia Pacific is primarily powered by India, China, and Japan.
Currently, North America dominates the global protein market owing to the rising consumer awareness pertaining to health and hence the increasing applications in the food and beverage and cosmetics industry. The U.S. leads the market in North America because of the spiking consumption of energy bars, cold cereals, and snacks.
Global Protein Ingredients Market: Competitive Analysis
To assess the competition in the global market for protein ingredients, the report profiles players such as Cargill, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company (U.S.), Kerry Group plc., and Omega Protein Corporation.