The Protein Ingredients Market 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.
The liquid segment accounted for the second-largest share in the protein ingredients market
Based on form, the liquid segment occupied the second-largest market share in the protein ingredients market. The liquid form of protein ingredients is majorly used in food & beverages such as sports drinks and other nutritional drinks and cosmetic products. In terms of consistent concentration in the solution, liquid proteins are easier to mix and provide a uniform texture to the consumable product.
The pharmaceutical segment is projected to be the fastest-growing segment during the forecast period
By application, the pharmaceutical segment is expected to grow at the highest CAGR. This is attributed to the increase in the aging population and their need for improved metabolism and health products as proteins are essential amino acids that help the human body boost its immunity and help build and repair tissues. They are the building blocks for bones, muscles, cartilage, skin, and blood. Thus, protein forms an important component in the pharmaceutical and healthcare industries.
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.
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).