Growth Strategies Adopted by Major Players in the Protein Ingredients Market

The global protein ingredients market size is projected to grow from USD 49.8 billion in 2019 to USD 70.7 billion by 2023, at a compound annual growth rate (CAGR) of 6.0% during the forecast period.

Northbrook, USA, 2020-Feb-13 — /EPR Network/ — The global protein ingredients market size is projected to grow from USD 49.8 billion in 2019 to USD 70.7 billion by 2025, at a CAGR of 6.0% during the forecast period. The protein ingredients market is driven by factors such as the increasing demand for protein functionalities, awareness about healthy diet & nutritional food, new technological development in the protein ingredients industry, growth in demand for superior personal care and healthcare products, and increase in consumption of animal by-products, which are in turn supported by the economic growth, technological advancements, and consumer preference for functional products. However, factors such as stringent government regulations on animal-sourced protein are expected to restrain the market growth of animal protein.

Protein Ingredients Market

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Increasing demand for proteins as nutritional and functional ingredients is driving the market

Protein ingredients sourced from both animals and plants are well-known for their emulsification, gelation/viscosity, water-binding/hydration, foaming, aeration properties; other attributes of protein ingredients include thickening ability, stabilizing ability, and solubility. These functionalities, along with nutritional aspects of proteins, are a major advantage to end-user industries, and are, thus, one of the major market drivers. Another advantage associated with protein sources used for specific functional properties is that they are often less price-sensitive than those that are used only for their nutritional properties. This often benefits the end-user industries with cost advantages. In major applications such as food & beverages, the use of protein ingredients continues to grow with the increasing demand for improved functionalities

Soy proteins with GM origin pose health risks and are a restraint for market growth.

Research studies have cited many health and environmental risks associated with the production and consumption of genetically modified (GM) commodities including soybeans. There are apprehensions that in the long term, GM soy alters the enzymatic activity and metabolic activity in the liver. Hence, they are opposed by the various industry stakeholders, including regulatory bodies of countries in Europe and Asian Pacific regions, who are demanding non-genetically modified (non-GMO) soybeans.

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Asia Pacific is projected to be the fastest-growing region during the forecast period.

Asia Pacific is projected to be the fastest-growing region during the forecast period. The market in the region is driven by increase in population growth especially in countries such as China and India. Further, rise in demand for healthy food products having high nutritional value such as soy, wheat, and vegetable protein is driving the market in this region.

The major protein ingredients players include Cargill (US), ADM (US), DowDuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), Friesland (Netherlands), Fonterra (New Zealand), Arla Foods (Denmark), AMCO (US), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGARNA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), and Burcon Nutrascience (Canada). Expansions formed the most dominant strategy adopted by major players, followed by acquisitions. This has helped them to increase their presence in different regions and increase their product portfolio.

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