Pea and egg white proteins are growing traction among the consumers with each having an individual growth rate of about 3.04% and 3.44% during the period 2017-2022. These ingredients are fast emerging as major protein sources in the industry. Egg whites are growing mainly due to their amino acid profile and protein absorbability and pea protein due to its protein profile and sustainability. Soybean and whey is projected to dominate the protein ingredient sources with more than 40% by 2022. Increase in food safety issues related to animal protein, consumers are likely to shift more towards plant proteins like soybean, pea and canola.
Powder and bars together is estimated to dominate the protein ingredients market by more than 60% in the year 2017. However, fastest growth is witnessed under ready to drink form followed by bars. Advancements in technology in processing and overall product development has resulted in launch of various product protein ingredient forms.
The protein ingredients market is projected to reach 5,547 KT by 2022, at a CAGR of 3.87% from 2017, in terms of market volume. Europe and North America are the major consumers of protein ingredients with Asia Pacific emerging as growing consumers. Increase in demand in overall health and wellness products with protein rich foods and beverages is driving higher demand for protein ingredients market. Globally, plant proteins have witnessing less demand which is driving higher private investments by companies involved in the Protein Ingredients market to gain consumer attention and encourage buying. Companies who manufactures plant based protein from North America and Europe are spending more on marketing activities to promote plant protein as animal protein are very popular among the consumer groups in those particular areas.
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The leading market players in the global protein ingredients market primarily are Archer-Daniels-Midland Co. (U.S.), Solae (U.S.), Shandong Yuwang Industrial Co., Ltd (China), Shandong Sinoglory Health Food Co., Ltd (China), Gushen Biological Technology Group Co., Ltd (China), Solbar (Israel) and Nutripea (Canada)
Global protein ingredients market is segmented by feedstock, form, application and region.
Feedstock segment includes soy, wheat, pea, canola, whey, milk, casein, egg, beef, pork and others.
Form segment includes powder, bars, ready to drink, capsules & tablets and others.
Application segment includes functional food, sport nutrition, meat additives, confectionery & others foods, pharmaceutical and others.
Europe protein ingredients hold a major market share of about 39.4% of the overall volume in 2017. Increase in demand for high protein products is driving higher demand for protein ingredients in Europe. Growth in specific protein nutritional requirements for muscle growth, weight managements is also supporting the market growth. Canola among plant proteins and whey among animal proteins are projected to grow fastest among the various protein ingredients in Europe with estimated market share of more than 50% in the year 2017.
Soybean among plant proteins and whey among animal proteins are projected to grow fastest among the various protein ingredients in Asia Pacific with estimated market share of more than 60% in the year 2017. China being one the largest consumer of soybean in the world, supports soy protein ingredient market.
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