According to MarketsandMarkets, the “Protein Ingredients Market by Source (Animal and Plant), Form (Dry and Liquid), Application (Food & Beverages, Animal Feed, Pharmaceuticals, and Cosmetics & Personal Care), and Region (NA, EU, APAC, SA, RoW) – Global Forecast to 2025″, size was estimated to be valued at USD 52.5 billion in 2020. It is projected to reach USD 70.7 billion by 2025, recording a CAGR of 6.1%, in terms of value. The major factors driving the protein ingredients market include the increase in demand and consumption of functional food & beverages, growing consumer awareness about healthy diets among people, and increasing demand for protein as nutrition and functional ingredients.
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Restraints: Cultural restrictions on the consumption of gelatin
Gelatin has varied applications in the food and pharmaceutical industries. It is used as a functional ingredient to manufacture hard and soft capsules, and as a protein supplement. However, gelatin is an animal by-product formed from the collagen of slaughtered animals, including the bones, hides, and hooves of cattle, pigs, fish, and poultry. Individuals with religious or dietary restrictions that forbid the consumption of animal products are not willing to consume those products that use gelatin. For instance, in the Middle Eastern and Muslim communities, pork and pork-derived products are strictly forbidden. They prefer to consume halal-certified bovine-derived products. Therefore, in these regions, the market for gelatin manufactured by pork skin is estimated to be negligible.
By application, the food & beverage segment is projected to account for the largest market share in the market during the forecast period
The rising health consciousness and obesity have compelled consumers to increasingly focus on healthy diets with low-fat and highly nutritive value food, leading to a rise in the consumption of protein ingredients. As a result, the demand for functional and healthy food is on the rise.
The Asia Pacific is projected to be the fastest-growing region during the forecast period
Asia Pacific is the fastest-growing region in the global protein ingredients market. The market in the region is driven by an increase in population growth, especially in countries such as China and India. Further, a rise in demand for healthy food products, such as soy, wheat, and vegetable protein, having a high nutritional value is driving the market in this region.
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Key players in this market include Cargill (US), ADM (US), DuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), FrieslandCampina (Netherlands), Fonterra Co-operative Group Limited (New Zealand), Arla Foods (Denmark), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGRANA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), Burcon Nutrascience (Canada), Rousselot (Netherlands), Foodchem International Corporation (China), A&B Ingredients (US), and Reliance Private Label Supplements (US).
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