Global protein ingredients market to reach $91.89 billion by 2027: Allied Market Research
Increase in per capita income, demand for proteins as nutritional and functional ingredients, and surge in consumption through natural sports drinks drive the growth of the global protein ingredients market. North America contributed to the highest market share in 2019, and is expected to continue its dominance by 2027. Manufacturing activities of protein ingredients suffered hindrances due to disrupted supply chain, lockdown measures, and lack of procurement of raw materials.
Portland, OR, May 13, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global *protein ingredients market* generated $53.78 billion in 2019, and is expected to reach $91.89 billion by 2027, witnessing a CAGR of 6.4% from 2021 to 2027. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, value chain, competitive landscape, and regional scenario.
Increase in per capita income, consumer awareness about healthy diet, demand for proteins as nutritional and functional ingredients, and surge in consumption through natural sports drinks drive the growth of the global protein ingredients market. However, undefined regulatory guidelines and high cost of clean label protein ingredient products hinder the market growth. On the other hand, introduction of protein supplements in untapped markets and product innovations create new opportunities in the coming years.
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*Covid-19 Scenario:*
· Manufacturing activities of protein ingredients suffered hindrances due to disrupted supply chain, lockdown measures, and lack of proper procurement of raw materials.
· The demand from various application industries such as food & beverages and cosmetics & personal care reduced due to disruptions in daily operations. However, the demand is expected to increase during the post-lockdown as daily activities resume in full capacity.
The report offers a detailed segmentation of the global protein ingredients market based on source, form, application, and region.
Based on form, the solid segment accounted for the largest market share in 2019, contributing to nearly 87.7% of the total market share in 2019, and is estimated to maintain its lead position during the forecast period. However, the liquid segment is projected to portray the *highest CAGR* of 8.4% from 2021 to 2027.
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Based on application, the food & beverages segment held the highest market share in 2019, accounting for nearly half of the global protein ingredients market, and is expected to maintain its leadership status during the forecast period. However, the animal feed segment is projected to witness the largest CAGR of 7.3% from 2021 to 2027.
Based on region, North America contributed to the highest market share in 2019, accounting for more than one-third of the total share, and is expected to continue its dominance in terms of revenue by 2027. However, LAMEA is expected to grow at the highest CAGR of 8.9% during the forecast period.
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Leading players of the global protein ingredients market discussed in the research include Cargill, DuPont, ADM, Omega Protein Corporation, Kerry Group, Mead Johnson Nutrition Company, Friesland, Kewpie Corporation, Fonterra Co-operative Group, and Bunge Limited.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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