Protein Ingredients Market Forecast 2019-2029 – Market Size, Drivers, Trends, And Competitors

Wilmington, United States, 2024-Mar-01 — /EPR Network/ — The global protein ingredients market is poised for remarkable growth, with a projected development rate of 7% during the forecast period from 2019 to 2029, according to the latest market research report by Transparency Market Research. With an initial valuation of US$ 42.6 billion in 2019, the market is expected to surge to US$ 84 billion by 2029. This article explores the driving forces behind this growth, highlighting key market segments and regional dynamics.

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Key Players and Market Developments
Glanbia PLC, Solae LLC, Cargill PLC, Archer Daniels Midland Co., and Kerry Group PLC, among others.

Driving Forces and Market Trends:
Rising popularity of soy protein products, increasing demand for convenience foods with added nutrients, and a growing preference for fortified food products are among the major drivers fueling advancements in the global protein ingredients market. Manufacturers are catering to diverse consumer preferences by offering a wide range of products, including plant proteins (such as wheat, pea, and soy proteins) and animal proteins (such as casein, whey, egg, and milk proteins), among others.

Dominance of Animal Protein Segment:
The animal protein segment currently holds over 80% of the total market share in the global protein ingredients market, driven primarily by the increased consumption of dairy products and eggs. However, the rising demand for soy protein is expected to create lucrative opportunities for players in the plant-based protein domain. Texturized vegetable proteins, soy isolates, and soy concentrates are witnessing heightened usage, indicating a shift towards plant-based alternatives.

Applications Across Various Industries:
Protein ingredients find applications across a wide spectrum of industries, including beverages, bakery and confectionery, meat products, infant nutrition, supplements, protein bars, breakfast cereals, dairy products, and animal feed. This versatility underscores the significance of protein ingredients in meeting diverse consumer needs and preferences.

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The market is segmented based on product form into concentrates and isolates, with protein concentrate products expected to witness higher demand compared to isolates in the near future. Geographically, North America emerged as the leading regional market, attributed to its highly developed food and beverages industry and rising consumer awareness regarding the health benefits of protein consumption. The region is anticipated to maintain its dominance, driven by increasing spending capacity and health consciousness among the population.

About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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