NEW YORK, Jan. 25, 2022 /PRNewswire/ -- The global protein ingredients market size is expected to reach USD 97.58 Billion in 2028 and register a revenue CAGR of 7.8% during the forecast period, according to latest report by Reports and Data. Rising consumer awareness about benefits of soy protein and increasing adoption of protein nutrition in the sports industry are key factors expected to drive market revenue growth during the forecast period. In addition, inclining demand for food and beverages with high protein content such as protein shakes, protein-enriched yogurts, and spreads is expected to boost revenue growth of the global market between 2021 and 2028.
Growing adoption of protein nutrition in the sports industry is increasing demand for protein ingredients and is expected to boost revenue growth of the global market in near future. Protein intake is necessary for athletes to repair muscle breakdown caused by intense training and workouts. Protein products also help athletes to reduce their appetite and calorie intake. All such benefits of protein ingredients is a factor expected to increase product demand from the sports industry over the forecast period.
Challenges in cultivation of plant-based protein ingredients can be a major factor that can restraint global market revenue growth. Climate change due to global warming can have a huge impact on crop cultivation, which could hamper revenue growth of the global market. Concerns regarding presence of harmful toxins such as lead, mercury, arsenic, and cadmium in protein supplements, which can lead to cancer and other diseases, is another factor that can hamper market revenue growth to some extent over the forecast period. Additionally, the Covid-19 outbreak caused major disruption in the supply chain of protein products, which has hampered revenue growth of the market.
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Some Key Highlights in the Report
- Liquid type segment is expected to register a significantly high revenue growth rate over the forecast period due to rising demand for flavored protein shakes and juices among consumers.
- Personal care and cosmetics segment is expected to register a significantly high revenue growth rate over the forecast period. Increasing demand for hair and skin protein supplements, such as collagen and biotin protein ingredients, is expected to drive growth of the segment.
- Plant protein segment is expected to register a significantly high revenue growth rate over the forecast period due to increasing adoption of vegan protein, pea protein, and soy protein due to the antioxidant properties and fiber content, other nutritional benefits.
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- The market in North America is expected to register considerably high revenue CAGR over the forecast period. Growth of the market in this region is expected to be driven by rapid urbanization, changing lifestyles of consumers, and rising consumer awareness about nutritional benefits of consuming products with high protein content.
- Companies profiled in the global market report include Cargill, Inc., Gelita AG, International Flavors & Fragrances, Inc., Omega Protein Corporation, Kewpie Corporation, AMCO Proteins, Burcon NutraScience Corporation, Fonterra Co-operative Group Limited, Foodchem International Corporation, and FrieslandCampina N.V.
- In November 2021, FrieslandCampina N.V. announced a collaboration with Royal Agrifirm Group to create a physically separated supply stream for guaranteed deforestation-free soy for livestock feed. The companies are determined to speed up the development program. This initiative is expected to help the companies in prioritizing the sustainability program, named 'Nourishing a better planet'.
- In September 2021, FrieslandCampina N.V. announced a solar panel project initiative focusing on smaller solar roofs for dairy farmers with Zelfstroom B.V., a solar energy equipment supplier. FrieslandCampina N.V. announced this program to support their dairy farmers who are unable to establish large solar roofs due to limited capacity on the electric network. This program will support farmers in transition towards sustainability and green energy.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/protein-ingredients-market
For this report, Reports and Data has segmented the global protein ingredients market on the basis of ingredient type, application, sources, and region:
- Ingredient Type Outlook (Revenue, USD Billion; 2018-2028)
- Dry Type
- Liquid Type
- Application Outlook (Revenue, USD Billion; 2018-2028)
- Animal Feed
- Food & Beverages
- Personal Care & Cosmetics
- Source Outlook (Revenue, USD Billion; 2018-2028)
- Animal Protein
- Egg Protein
- Dairy Protein
- Plant Protein
- Wheat Protein
- Vegan Protein
- Soy Protein
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- Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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