Food Protein Ingredients Market Is Driven by Increasing usage in dietary supplement application for nutraceutical industry
Selbyville, DE -- (SBWIRE) -- 04/30/2020 -- According to Global Market Insights, Food Protein Ingredients Market provides a comprehensive analysis of the market segments, including their dynamics, size, growth, regulatory requirements, technological trends, competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the Food Protein Ingredients industry.
2016 Market Size - USD 17.25 billion
2024 Forecast Value - USD 29 billion+
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Key market players include Agrana, Roquette, CropEnergies, Archer Daniels Midland, and Tereos Syral. Companies are into product portfolio expansion and new product development for novel applications. Other prominent industry players are Glico Nutrition, MGP Ingredients, Manildra Group, Agridient, and Kerry Inc.
Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:
- Archer Daniels Midland Company
- Mead Johnson Nutrition
- CHS Inc.
- Tessenderlo Group
- MGP Ingredients
- Burcon NutraScience Corporation
- Kewpie Corporation
- The Scouler Company
- CropEnergies AG
- Fonterra Co-operative Group
Shift in consumer focus towards consuming healthy dietary supplements along with strong application outlook in food & beverage industry should drive food protein ingredients market size. These products are sourced from raw materials which can be both plant and animal based. Consumer mostly prefer plant-based ingredients owing to its functional and nutritional benefits driving industry size. Plant based ingredients offer myriad of heath benefits including controlling blood pressure, reducing risk of cancer & heart disease.
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Animal based food protein ingredients market size should surpass USD 22 billion by 2024. This demand can be attributed to growing demand for meat & meat-based products as a source for protein. Commonly available sources for these are meat, fish, eggs and milk. Milk based food protein ingredients like whey concentrates, isolates, hydrolysates and casein account majority share of animal-based product market. This growth in demand can be ascribed to its high concentration and enhanced production process which reduces risk for allergy.
Stringent regulatory regimes in Europe and North America set forth by EFSA and FDA pertaining to approvals and labelling these products should bolster industry growth. Government and public health agencies also formulate strict laws & standard operating procedures (SOP) regarding safe production which should strengthen food protein ingredients market growth. Companies & manufacturers also form strategic alliances and collaborations to enhance its product and application portfolio along with launching new product in the market.
Key Highlights of this report:
Base Year: 2016
Growth Projections - 2017 to 2024
Historical data coverage: 2013 to 2016
Number of Pages - 465
Data Tables - 656
Pea, canola, soy, wheat and rice are major raw materials for plant-based production process. Seasonality, level of household consumption, structure of supply & demand and transportation influence the price trends for these products which may hamper industry growth. Companies usually set up their manufacturing facilities closer to its raw materials supply bases to reduce production cost and manage continuous supply.
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Sport nutrition application for food protein ingredients is expected to witness strong gains at over 7% by 2024. This growth of product demand in sports nutrition can be ascribed to need for supplements in post resistant workout for reducing fat-mass and increase lean body mass, strength and skeletal muscle hypertrophy. Rice food protein ingredients accounts majority share in this application segment owing to its amino acid profile and growing intolerance to various other sources including egg, meat, whey and soy.