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(Health-NewsWire.Net, October 25, 2021 ) The global protein ingredients market was estimated to be valued at USD 52.5 billion in 2020 and is projected to reach USD 70.7 billion by 2025, recording a CAGR of 6.1%, in terms of value.
The market is mainly driven by factors such as the increasing demand for protein functionalities, awareness about healthy diets and nutritional food, new technological development in the protein ingredients industry, growth in demand for superior personal care and healthcare products, and rising consumption of animal by-products. Europe will dominate the global market due to the high consumption of animal protein in the region. Further, the increasing emphasis of the European population on healthier lifestyles will lead to the growth of the market in the region.
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Drivers: Increasing demand for proteins as nutritional and functional ingredients
Protein ingredients sourced from animals and plants are well-known for their emulsification, gelation/viscosity, water-binding/hydration, foaming, aeration, and other functional properties. These functionalities, along with the nutritional aspects of proteins, are a major advantage to end-user industries, and are, thus, one of the major market drivers. In end-user industries such as cosmetic & personal care, protein ingredients are primarily used for their conditioning and moisturizing properties in the hair and skincare industries.
In major applications such as food & beverages, the use of protein ingredients continues to grow with the increasing demand for improved functionalities. The ability of protein ingredient manufacturers to design and develop specific isolates, concentrates, and other forms of protein ingredients for various applications is likely to drive the growth of the protein ingredients market during the forecast period.
COVID-19 is expected to boost the demand for protein ingredients at a higher rate in the global market as people across the globe are more health-conscious and finding ways to strengthen their immunity.
Restraints: Cultural restriction 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.
Opportunities: Growing potential of dairy and plant proteins
There is a huge growth potential for the protein ingredients market, especially dairy and plant proteins. Dairy protein possesses a wide range of functional properties, including thickening & emulsification, gelling, foaming, heat stabilization, and flavor/color development. Its high nutritional quality and versatile, functional properties enable its usage in dairy desserts, nutritional beverages, ice cream, yogurt, spreads, confectionery, and baked goods.
In the plant protein market, the demand for soy proteins is projected to grow in the coming years, owing to the proactive positioning of soy as a sustainable food/protein source, low level of consumer awareness of non-soy protein, and cost advantages. Furthermore, given the high-protein content in soy, as compared to any other plant source, the popularity of soy among the vegan population is likely to boost the consumer inclination toward soy proteins.
Challenges: Demand-based price fluctuations in cropping patterns
Even though the prices of soy proteins are comparatively low than most proteins, the supply can prove to be a significant factor in price escalation. The raw material for soy protein ingredients includes soy meal, which is also highly demanded by the feed industry. Unless there is no drop in the cultivation area under soybeans, the supply is expected to remain unfazed for both feed and protein manufacturers. Sometimes, crop growers, to avail better crop value, change their crop patterns, which can marginalize the flow of supply, and thereby lead to an increased demand for protein manufacturing and price escalation.
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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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