Protein ingredients: Key market research findings
- Demand for sports nutrition products drives market growth
- Europe dominates the market geographically
- Key vendors – Archers Daniel Midland, Cargill, and Kerry
Technavio’s market research analysts predict the global protein ingredients market to grow at a CAGR of over 6%, in terms of revenue, between 2016 and 2020. The demand for protein ingredients is augmented by the growing market for sports nutrition products. As a result of an increase in the health and fitness-conscious population across the globe, the demand for sports nutrition products in the market is on an upsurge. Furthermore, the trend of joining gyms and engaging in bodybuilding is prompting people to consume sports nutrition products to increase their immunity and build muscles. At present, Europe dominates the global protein ingredients market by accounting for almost 37% of the overall market revenue. Factors such as the growing demand for high nutritional products, increasing disposable income, rising number of health-conscious population and new product developments in the market are expected to propel growth in the protein ingredients market in Europe during the forecast period.
The new market research report from Technavio presents a detailed analysis of protein ingredients segments based on the product.
“The market is currently witnessing a shift towards plant protein ingredients. Plant-based protein is derived mainly from pea, rice, canola, potato, soybeans, and wheat. The major reason for this demand is an increase in vegetarianism among consumers. Moreover, plant protein ingredients are eco-friendly as they consume less energy, land, and water and reduce emissions of toxic gases,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
By 2020, the animal protein segment is likely to dominate the global protein ingredients market by accounting for more than 53% of the total market share. Animal protein ingredients are derived from products provided by animals such as eggs and milk and are used in a variety of food applications such as in desserts, sports nutrition products, dietary supplements, and bakery products. Product innovation in the coming years is expected to fuel growth in the global animal protein market.
The key vendors in the global protein ingredients market include Archers Daniel Midland, Cargill, and Kerry. The market is highly fragmented with the presence of a large number of providers, including both international and local players. Vendors in the global protein ingredients market include manufacturers of protein ingredients, distributors of protein ingredients, and protein ingredient-based food product manufacturers. Intense competition prevails in the market in terms of product differentiation, portfolio, and pricing. The vendors are also focusing on the emerging markets such as APAC and South America to tap the increasing demand for protein ingredients in these regions.
A more detailed analysis is available in the Technavio report, Global Protein Ingredients Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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