Dublin, July 19, 2023 (GLOBE NEWSWIRE) -- The "Global Protein Ingredients Market by Source (Animal, Plant, Insect, and Microbial), Form (Dry and Liquid), Application (Food & Beverages, Feed, Cosmetics & Personal Care Products, and Pharmaceuticals), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global protein ingredients market is expected to reach a valuation of USD 85.6 billion by 2028, growing at a CAGR of 7.0% during the forecast period. The market, estimated at USD 61.0 billion in 2023, is driven by the increasing demand for protein-rich sources in various industry applications.
Protein plays a vital role in essential body functions, and its demand is on the rise due to growing consumer awareness and preference for health products and diets.
Asia-Pacific region to witness significant growth with rising population and preference for vegetarian and vegan foods
The Asia-Pacific region is projected to witness significant growth in the protein ingredients market, with a CAGR of 8.1% during the forecast period. The region consists of a rising population, some of the world's fastest-growing economies, and a growing preference for vegetarian and vegan foods. This trend is expected to thrive in the protein ingredients market, particularly in the plant sources category. Major players in the market are expanding their sales presence and manufacturing plants in the region, further strengthening the protein ingredients market ecosystem.
Pharmaceuticals segment exhibits the fastest growth rate in the protein ingredients market
The pharmaceuticals segment shows the fastest growth rate among applications in the protein ingredients market. With the global aging population, there is an increased need for improved metabolism, health, and reduced susceptibility to diseases. Proteins are essential amino acids that enhance immunity and help build and repair tissues. They are the building blocks for bones, muscles, cartilage, skin, and blood. As a result, proteins form a critical component in the pharmaceutical and healthcare industries. The rising urbanization and fast-paced lifestyles are expected to drive the popularity of protein supplements and substitutes, leading to further growth in the industry.
Microbial sources offer sustainable and efficient production processes
The process of producing protein ingredients from animal and plant sources is resource-intensive and time-consuming, requiring significant amounts of land, energy, and water. However, microbial sources of protein offer various benefits to manufacturers, including savings in land and water use, with potential water savings of up to 98%. This sustainable production process also contributes to a reduction in carbon footprint. Although microbial sources of proteins may currently be considered a niche market, they are expected to grow rapidly in the coming years and emerge as one of the most significant alternative sources of protein.
Premium Insights:
- Rising Consumer Health Awareness and Demand for Meat and Meat Alternatives to Drive Market
- Animal Source Segment to Account for Largest Market Share in Europe Among Protein Ingredients Sources
- Animal Source Segment to Dominate Market During Forecast Period
- Food & Beverages Segment to Dominate Market During Forecast Period
- Dry Form Segment to Dominate Market During Forecast Period
Market Dynamics:
Drivers:
- Increasing Demand for Proteins as Nutritional and Functional Ingredients Post COVID-19
- Rising Demand for Livestock Products
- Growing Demand for Personal and Healthcare Products
Restraints:
- Ban on Plant Proteins of GM Origin
- Cultural Restriction on Gelatin Consumption
- Allergies Associated with Plant-Based Protein Sources
Opportunities:
- Growing Potential of Dairy and Plant Proteins
- Demand for Plant-Based Protein from Growing Vegan Population
Challenges:
- Concerns Over Quality of Food & Beverages due to Adulteration of GM Ingredients
- Economic Constraints Related to the Processing Capacity of Pea Protein
Case Studies:
- Gelita Ag: Collagen for Lean Muscle
- Adm: Spiced Apple Drinkable Yogurt
Companies Mentioned:
- A&B Ingredients
- Adm
- AGT Food and Ingredients
- Amco Proteins
- Aminola Bv
- Arla Foods Amba
- Bioflytech
- Bremil Group
- Brf Global
- Burcon
- Cargill, Incorporated
- Chaitanya Group of Industries
- CJ Selecta
- Cosucra
- Dupont
- Etchem
- Green Labs LLC.
- Hipromine S.A.
- JR Unique Foods
- Kerry Group plc
- Nordic Soya Oy
- Now Foods
- Process Agrochem Industries Pvt Ltd.
- Puris
- Roquette Freres
- Shandong Sinoglory Health Food Co., Ltd
- Sotexpro
- Tebrio
- The Scoular Company
For more information about this report visit https://www.researchandmarkets.com/r/819ceo
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