Protein Ingredients Market Size, Share, Growth Analysis, By Source(Animal Source and Plant Source), By Application(Animal Feed, Food & Beverage, Infant Formulations and Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30I2379 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 61 | Figures: 77

Protein Ingredients Market Regional Insights

In 2022, North America proclaimed its dominance in the market, impressing over 33.56% of the revenue share. The rising demand for protein ingredients in the region is driven by the increasing feeding of snacks, energy bars and cold cereals. Particularly, companies like Mead Johnson and Cargill, Inc. have donated to this trend by introducing innovative products such as Enfamil Human Milk Fortifier Liquid High Protein, designed to meet consumer preferences for cholesterol-free and low-saturated-fat beverages. This introduction of novel products is predictable to additionally stimulate the demand for protein ingredients in the North American market.

Asia Pacific is predicted to witness the uppermost growth rate, reaching 6.3% during the forecast period, attributed to the development of robust consumer markets in countries similar to China and India. China, in particular, stands out as one of the foremost producers of both plant and animal-based products, promoting the appropriate convenience of raw materials.

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Global Protein Ingredients Market size was valued at USD 43.17 billion in 2022 and is poised to grow from USD 81.54 billion in 2023 to USD 370.43 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The protein ingredients market is considered by intense competition, driven by a dynamic landscape shaped by factors such as innovation, product diversification, and partnerships. Key industry players are aggressively engaged in research and development activities to introduce novel protein formulations, catering to developing consumer preferences. The competitive landscape is further shaped by strategic collaborations and acquisitions. Companies are forming partnerships to enhance their capabilities in terms of processing, distribution and sourcing 'Archer Daniels Midland Company', 'Cargill, Incorporated', 'Kerry Group plc', 'DuPont de Nemours, Inc. (now part of IFF)', 'Ingredion Incorporated', 'AGRANA Beteiligungs-AG', 'Fonterra Co-operative Group Limited', 'Roquette Frères', 'The Scoular Company', 'Omega Protein Corporation', 'Hilmar Ingredients', 'Tate & Lyle PLC', 'Glanbia plc', 'Mead Johnson Nutrition (Acquired by Reckitt Benckiser)', 'Amco Proteins', 'Gelita AG', 'Rousselot (Darling Ingredients Inc.)', 'Burcon NutraScience Corporation', 'Sonac BV (Darling Ingredients Inc.)', 'A&B Ingredients', 'Farbest Brands', 'Armor Proteines'

The Protein Ingredients Market is observing robust development, pushed meaningfully by the swelling demand for health and wellness products. A key driver in this course is the growing global consciousness among consumers about the energetic role of protein in preserving a healthy lifestyle. As people become more health-conscious, there is a sensitive preference for food and beverage products that are not only nourishing but also rich in protein content. This trend is ambitious by the credit of protein's essential role in muscle development, weight management, and overall well-being. As a result, the market experiences a surge in the incorporation of protein ingredients into an extensive array of products, ranging from functional foods to supplements, cuisine to the expanding consumer base looking for health-centric choices in their nutritional preferences.

Significant to the environmental impact of traditional food production, stakeholders in the industry are increasingly arranging sustainable sourcing of protein ingredients. This includes responsible obtaining of raw materials, includes plant-based proteins or to minimize ecological footprints and morally produced animal-derived proteins. Moreover, there is a rising focus on sustainable production processes, incorporating eco-friendly methods and technologies to decrease energy feeding and waste generation.

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Protein Ingredients Market Size, Share, Growth Analysis, By Source(Animal Source and Plant Source), By Application(Animal Feed, Food & Beverage, Infant Formulations and Others), By Region - Industry Forecast 2024-2031

Protein Ingredients Market Regional Insights

Protein Ingredients Market Report Snapshots

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