Protein Ingredients Market Growth Rate, Market Drivers and Opportunities Evaluation

Animal and plant-based proteins are versatile ingredients that can be used to make a variety of food products. In the processing of food products, they exhibit a variety of beneficial functionalities and bioactivities. In food preparations, they act as thickening agents, gelling agents, texture modifiers, carriers, and foaming agents. These are also used in a variety of industries, such as nutrition, personal care, and animal feed.

The global protein ingredients market is projected to reach US$ 68.2 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2019 to 2027).

Increased health-care awareness has prompted consumers to shift their focus toward nutritional and healthy diets, as well as increase their protein consumption in order to obtain additional nutrients from protein supplements prepared with protein ingredients, thereby fueling the growth of the protein ingredients market. Whey and egg proteins are popular animal protein supplements, which are expected to drive the protein ingredients market.

Consumer perception of high nutritional content of infant formula due to health consciousness of their children increases demand for protein-based infant formula. Organizations such as the Innovation Center for US Dairy and dairy ingredient manufacturers invest in R&D activities to improve protein ingredient properties such as flavour, aroma, and performance. As a result, this is expected to provide lucrative opportunities for manufacturers to offer a more diverse range of protein ingredients in the market in order to gain a larger market share.

Moreover, the outbreak of the novel coronavirus has positively affected the growth of the protein ingredients market. This increase in growth of the protein ingredients market can be attributed to the awareness of consumers about building strong immunity.

Key compnies involved in the global protein ingredient market Solae LLC, Archer Daniels Midland Company, Cargill Inc., Glanbia plc, FrieslandCampina DMV B.V., Kerry Group plc, Arla Food Ingredients, ROQUETTE FRERES S.A, Davisco Foods International, Inc., and Sterling Biotech Ltd.