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

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 market is gaining important traction, determined by a surging demand for food items like cold cuts, spreads, yogurt, milk sausages, bakery products and margarine that are made using protein ingredients.

The discriminating consumption of these products, predominantly among health-conscious and aging consumers, is a key factor driving the industry's development. Moreover, the market is undergoing growth due to increased origination by various manufacturers in the realm of protein development, offering a varied array of amino acids that cater to specific functions such as satiety, muscle repair, weight loss, and energy balance. This tendency is anticipated to make substantial growth chances within the market.

There has been a distinguished surge in the consumption of animal-based products within the industry in current times, and this movement is expected to continue its rising sequence in the coming years in the U.S. The significant demand for products resulting from animal sources in the domestic market is predictable to additional boost product demand. The market is also anticipated to accept impetus from supply chain creativities initiated by ingredient manufacturing companies, leading to fortify the distribution of products during the forecast period.

Plant-based constituents, derived from crops such as pea, soy, canola, wheat, are prominent. Soy protein, in certain, has exhibited substantial development and holds the largest segment in the plant-based category.

It is composed to observe a robust CAGR in the forecast period. Furthermore, the Food and Drug Administration has granted approval for a health claim, approving the reduction of LDL cholesterol through dietary guidelines that mention four servings of soy per day to achieve a 10% reduction in LDL cholesterol levels in the body.

The market's growth is predicted to be propelled by product innovations and technological advancements. Protein ingredients find application across diverse sectors, with isolates, known for their high dispersibility and fine particle size, being lengthily used in dairy applications.

Consumer belief in the associated health benefits of these products has been an essential driver of growth in recent years, and this trend is expected to persevere throughout the forecast period.