Protein Ingredients Market: Billion Dollar Global Business with Unlimited Potential- TMR

Albany, NY -- (SBWire) -- 11/02/2018 --The global protein ingredients market had gained revenue valued at US$31.8 bn in 2016, which is further expected to grow up to US$64.35 bn by 2027. Such a growth is anticipated to occur alongside a healthy CAGR at 6.50% during a forecast period ranging from 2017 to 2027.

Rise in Awareness about Health and Fitness Stokes Growth

A rising awareness among potential customers regarding fitness and health has consequently led towards a substantial growth witnessed by the global protein ingredients market. This is mainly due to an extensive use of proteins in the form of supplements and foods, owing to their muscle and tissue building properties. Increasing popularity of soy and pea proteins coupled with a higher rate of consumption of dairy products and eggs has also caused the protein ingredients market to gain widespread growth.

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The protein ingredients market is picking up notable pace owing an overall shift in attitude among the masses regarding several protein-rich foods and diets. The growing popularity of several sports all over has consequently led towards a surge in the number of sportspersons and athletes. Due to this, a rapid rise in the intake of protein-rich foods by such sportspersons is consequently driving the global protein ingredients market.

Growing popularity of plant protein ingredients is expected to push certain key products, such as soy and pea proteins to grow at high rates over the forecast period. But this growth is offset by relatively lower overall consumption of plant proteins. Despite the decreasing popularity of gelatin, egg and dairy products are expected to witness considerable demand in the future. Increasing consumer demand for 'purer' products with low processing is enabling development of new products such as micellar casein and native whey. The other factors driving the market are increasing adoption of protein ingredients in food and beverage products, and growing consumer preference for fortified foods or foods enriched with protein ingredients.

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The global protein ingredients market mainly depicts the presence of a highly fragmented and competitive vendor landscape. This is majorly due to innumerable players operating in the market. Of all the players present in the global protein ingredients market, Kerry Group Plc., Cargill Plc., and Glanbia Plc., are three businesses which held a total share worth 38% in the market in 2015, thus exerting dominion over other players in terms of revenue gained.