Ocean View, Delaware , June 29, 2017 (GLOBE NEWSWIRE) --
Protein Ingredient Market is anticipated to cross USD 40 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing consumer health concerns due to various diseases such as cardiovascular and diabetes should drive product demand. Regulatory approval by EU and FDA across various applications along with wide product acceptance should fuel industry growth.
U.S. protein ingredients market size from food & beverage application expects gains at over 5.5% during the foreseeable future. Rising consumer awareness towards dietary supplements importance accompanied with strong application scope in food & beverage industry should drive regional product demand. This region is expected to grow owing to new product launch and strong innovation trends.
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Plant sources include rice, pea, canola, wheat, and soy. Whereas, dairy or animal sources are extracted from fish, gelatin, milk, egg, and meat. Advancement in technology has provided hydrolysates, concentrates, and isolates extraction in animal and plant application base.
Soy protein isolates should witness strong gains and surpass USD 2.8 billion by 2024.Tight soybean supply due to demand from alternative applications and channels can affect protein ingredient market price trend.
Cardiovascular health, muscle binding, obesity, and diabetes are key binding benefits offered by these products. Increasing spending on research by companies to enhance product portfolio should create growth avenues for various industry players.
Browse key industry insights spread across 175 pages with 372 market data tables & 34 figures & charts from the report “Protein Ingredient Market” in detail along with the table of contents:
Europe protein ingredient market size from infant formulations should witness steady gains and surpass USD 2.5 billion at the end of forecast period. Favorable government guidelines will strengthen provision for infant formula and thereby drive regional industry growth.
Asia Pacific, led by Japan and China egg protein ingredient market size, should witness gains at over 7.5%. These products are majorly used in food & beverages applications which include meats, sports foods and baked goods.
Soy concentrates across Asia Pacific protein ingredient market size will witness significant gains. Rising awareness accompanied with growing application scope towards pet foods for pigs and calves to replace milk will drive demand.
Pea protein ingredient market size should witness over 10% gains. They are majorly used sports & nutraceutical applications owing to the growing health conscious consumer base owing to the increasing concerns towards week immunity and obesity issues.
Dry pea production, Canada, U.S., China, India, and Russia led the industry, while France, China, India, U.S., and Russia are major wheat producers. Wheat is used as a staple cereal in food industry may face supply dynamics for protein extraction applications.
Global protein ingredient market share is consolidated with companies operating in this industry includes Cargill, Bunge, DuPont, Mead Johnson, ADM, Scoular, Roquette, Burcon, Fonterra, Rouseelot, Kewpie Egg Corporation, NutraScience, Crop Energies Bio Wanze, and Tessenderlo.
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Pea Protein Market size was over USD 61.5 million in 2015 with 15% CAGR estimation from 2015 to 2023. Rising demand for health management and processed foods along with increasing vegan population will boost pea protein market demand. Government support for farming coupled with organic foods capturing the shelf space has led to increase in industry growth.
Organic Rice Protein Market size was valued at over USD 35 million in 2015 and is forecast to surpass USD 105 million by 2024, at more than 18.2% CAGR. Increase in protein functionalities demand in food & beverage industry is expected to fuel global product demand.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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