The research study covers the present scenario and growth prospects of the global protein ingredients market for 2016-2020. The report also lists animal protein and plant protein as the two main product segments, with the animal protein segment dominating the market with approximately 55% of the market share in 2015.
Technavio food and beverage analysts highlight the following four factors that are contributing to the growth of the global protein ingredients market:
- Increase in global health-conscious population
- Growing infant formula market
- Increase in demand for soy proteins
- Growing demand for sports nutrition products
Increase in global health-conscious population
In recent years, there has been a constant increase in the number of health-conscious people globally, due to the increased occurrence of health problems such as obesity, malnutrition, and weak immune systems. These consumers are looking for protein-rich food and beverages such as dietary supplements, sports nutrition products, and ready meals, which offer the right amount of health benefits and nutrition.
Hence, with the increased consumption of protein-rich products by health-conscious population, the demand for protein ingredients has increased. Therefore, vendors of protein ingredients have an opportunity to market their products using various health claims.
Growing infant formula market
Infant formula is usually a powder or liquid formula given to babies and infants between 6 months and 12 months old, as it provides the nutritional needs for the healthy development of babies. It is also used as a partial or total replacement for breast milk. The demand for infant formula is increasing globally, driven by certain factors such as the growing awareness among parents about its nutritional benefits, an increase in the birth rate in many countries, and the increasing number of working women. Hence, the demand for infant formula is leading to the increase in demand for protein ingredients used in it such as soy and whey. The market for infant formula is expected to grow at a CAGR of more than 7% during the forecast period, which illustrates the potential for growth in the demand for protein ingredients used in infant formula. Therefore, the increase in demand for infant formula is driving the sales of protein ingredients.
Increase in demand for soy proteins
According to Arushi Thakur, an industry expert for food research at Technavio, “Another major driver of the global protein ingredients market is the increasing demand for soy proteins. These proteins are highly preferred as an ingredient in various food products as they possess a number of health benefits and functional properties.” They possess adequate amounts of amino acids, fiber, fats, calcium, potassium, and vitamins, and they help in maintaining adequate cholesterol levels. They can be used as an emulsifier, a stabilizer, a gelling agent, a thickener, and a binder in food processing. In particular, they are widely used in meat processing and in formulations. In addition, they are considered to be eco-friendly as they consume less water. Additionally, they are cheaper than many animal protein ingredients.
The global soy protein market is expected to grow at a CAGR of more than 7% during the forecast period. Moreover, to tap the increasing demand for soy proteins, vendors are expanding their product portfolio and introducing new applications in the food and beverages industry. Thus, the increasing demand for soy proteins is driving the growth of the global protein ingredients market.
Growing demand for sports nutrition products
As a result of an increase in the health and fitness-conscious population, especially males, across the globe, the demand for sports nutrition products in the market is growing at a CAGR of over 8%. Moreover, an increase in consumer income is boosting the sales of these nutritional products as many consumers are able to afford them. Additionally, the trend of joining gyms and bodybuilding centers encourages consumers to consume sports nutrition products to increase their immunity and build muscles.
Therefore, this demand for sports nutrition products increases the demand for protein ingredients as they are the foremost important raw materials for sports and fitness nutrition products. Whey proteins and soy proteins are the most widely used ingredients in sports nutrition products. In addition, other dairy-based ingredients are gaining popularity in the manufacturing of sports nutrition products due to their nutritional value and variety of flavors. “Thus, the growing demand for sports nutrition products is positively influencing the demand for protein ingredients,” says Arushi.
Browse Related Reports:
- Global Pea Protein Market 2016-2020
- Global Soy and Milk Protein Ingredients Market 2015-2019
- Whey Protein Market in the US 2015-2019
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