Protein Ingredients Market size to exceed $62bn by 2026
Published Date: August 11, 2020 Authors: Kunal Ahuja, Kritika Mamtani
Protein Ingredients Market size is set to surpass USD 62 billion by 2026, according to a new research report by Global Market Insights, Inc.
Increasing adoption of whey protein in everyday diets and rising awareness on regular protein consumption is likely to boost product demand. Consumers are adopting whey protein powders in everyday diets in preparing healthy shakes, coffee, brownies, and snacks owing to its compatibility with other natural ingredients and low-fat content. Additionally, industry players are rapidly introducing new flavor variants in an attempt to boost brand equity and brand acceptance, which is likely to foster protein ingredients industry demand.
Protein ingredients from whey protein isolates is likely to achieve over 8% CAGR through 2026 owing to rapid product penetration in fitness industry. Fitness experts are rapidly shifting towards pure whey isolate powders in their daily fitness regimen owing to its quick absorption rate and high protein concentration per scope. Furthermore, industry players are capitalizing on emerging fitness trends in market by investing in marketing initiatives such as free sample distribution and discounts, thereby propelling protein ingredients market outlook.
Optimum Nutrition, an American firm is engaged in manufacturing various kinds or protein ingredients ranging from egg protein, casein, and whey protein hydrolysates and isolates. The firm invests highly in marketing & new product development and has introduced over 15 flavors for its protein supplements. Furthermore, the company offers regular discounts, free goodies such as shakers & hoodies, and store credit to attract new customers thereby increasing competitive scenario in regional market.
Stringent regulations in North America & Europe on use of high-quality protein ingredients is increasing competition in market sphere. Strict compliances on labeling, protein source, residual toxicity, and packaging is making industry players to opt for high quality ingredients and healthy manufacturing practices. Also, low entry barriers in protein ingredients market is further fueling competition as emerging market players offering innovative product varieties in competitive prices and different grades in order to stay competitive in post COVID economy.
Browse key industry insights spread across 350 pages with 415 market data tables and 35 figures & charts from the report, “Protein Ingredients Market Statistics By Product [Animal/Dairy Proteins (Milk Protein Concentrates/Isolates, Egg Protein, Whey Protein Concentrates, Whey Protein Isolates, Whey Protein Hydrolysates, Casein/Caseinates, Gelatin), Plant Proteins (Wheat, Soy Protein Isolates, Soy Protein Concentrates, Canola, Pea, Textured Soy Protein)], By Application [Infant Formulation, Personal Care & Cosmetics, Food & Beverages, Animal Feed (Pet Food, Aquaculture), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Shift towards plant-based proteins solutions in cosmetic industry to foster the market trends
Protein ingredients market from plant proteins is likely to surpass USD 16 billion by 2026, owing to rapid product penetration in cosmetic industry. Industry players are rapidly capitalizing on emerging trends towards protein rich cosmetics owing to increasing demand for high quality ingredients and rising awareness on dermatological aspects of skincare, thereby boosting market outlook.
Rapid shift towards organic ingredients and increasing awareness on harmful effects of artificial preservatives is likely to boost product demand. Protein ingredients are compatible with various other natural ingredients such as rose water, honey, aloe vera, and bee wax which makes them compatible with manufacturing high quality cosmetic preparations. Consumers are rapidly adopting cosmetics with natural ingredients owing to rising disposable income and behavioral shift towards plant-based solutions which is likely to trigger the market statistics.
“Plant-based protein ingredients market is likely to register 7% CAGR up to 2026, owing to rapid product penetration of protein ingredients in cosmetic industry and changing perceptions towards artificial additives”
Rising demand for protein rich ingredients in pet food is likely to boost market demand in Europe
European protein ingredients industry is likely to secure over 7% CAGR through 2026, owing to rising demand for high quality ingredients in pet food formulations. Protein rich ingredients in pet food formulations help in healthy growth, boosting metabolism rate, and improves eye health. Industry players are rapidly investing in developing high quality solutions and investing in branding & marketing initiatives which is likely to boost the regional market share.
Industry players in the regions are rapidly introducing protein rich formulations in an attempt to boost their brand image and remain competitive in post corona economy. Protein rich ingredients are also compatible with various pet food diets such as cat, dog, rabbits, and fishes. Furthermore, manufacturers are also investing in developing indigenous protein extraction technologies and introducing economical solutions, which is likely to boost protein ingredients market statistics.
“Europe protein ingredients revenue is likely to surpass USD 18 billion by 2026, owing to rapid adoption in pet food formulations and increasing awareness on animal health”
Industry players in protein ingredients are rapidly engaged in marketing initiatives and new product development to further strengthen their market position. Manufacturers are also expanding their product portfolio by offering clean, and ecofriendly solutions in an attempt to stay competitive in post corona economy. Key players in protein ingredients market include Roquette, ADM, Cargill, Scoular, CHS, and Fonterra.