The protein ingredients market is estimated to be valued at USD 27.5 Bn in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach a valuation of USD 47.4 Bn by 2032, rising at a CAGR of 5.6% for 2022-32.
This growth is primarily attributed to the significant demand generated for these ingredients from the functional food market which has gained popularity in recent years due to rising awareness among consumers regarding healthy food habits.
Moreover, heightened demand for livestock food items, improvements in ingredient technologies like microencapsulation and a growing preference for protein-rich meals is anticipated to further propel the expansion of the market.
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In addition to this, rapid expansion of whey protein ingredients market and surging consumption of solid protein ingredients due to rising prevalence of protein deficiency diseases like kwashiorkor etc. across the world and increasing consumption of supplements by body builders and other professional athletes, will continue to generate growth prospects for the key market players in future.
The protein ingredients market accounted for 10.3% of the overall dietary supplements market which was valued at USD 252.1 Bn in the year 2021.
FMI provides a comparative analysis and review of the market’s growth rates and future development every six months. The market is anticipated to experience tremendous growth prospects as more proteins are developed by different manufacturers that contain a variety of amino acids and serve certain purposes, such as weight loss, muscle repair, satiety, and energy balancing.
Protein components are increasingly used in a variety of applications; for instance, isolates are frequently used during dairy applications because of their great dispersibility and extremely tiny particle size. The main factor driving this business has been consumer trust in the health advantages linked to these goods.
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There have been a number of recent changes in this market-
- In October 2021, Lacprodan BLG-100, a pure BLG component with a distinctive nutritional profile, was introduced by Arla Foods Ingredients. It is made utilising a patented novel separation technique and includes 45 per cent more leucine than available commercially whey protein isolates, the primary amino acid for muscle growth.
- In November 2021, FrieslandCampina Solutions and AGT Foods announced their collaboration to introduce pea and fava bean isolates onto the market for plant-based proteins.
The global market for Protein Ingredients Market has witnessed H1 2021 growth at the magnitude of 5.5%. However, this growth is not evenly spread across all regions, with the developing markets recording higher growth rates of 6.2%. Thus, leaving the gap of -61.6 BPS points between expected and projected growth during H1 2022.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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