Protein Ingredients Market - Industry Outlook

Albany, NY -- (SBWire) -- 04/19/2019 --Protein is a fundamental unit of each cell of the body that plays a key role in several metabolic interactions. It is essential to maintain optimal protein level in the human body for a healthy living. It can be derived from several plant and animal sources and is extensively used in personal care and pharmaceutical products. Owing to these factors, the global protein ingredients market is expected to grow exponentially during the forecast period.

As per a report on the global protein ingredients market by Transparency Market Research, it would rise at a steady 6.5% CAGR between 2017 and 2027. At this pace, the market which was worth US$31.8 bn in 2016 will likely become worth US$64.35 bn by 2027.

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Increasing Demand for Functional Food to Steer Market's Growth

Owing to an unhealthy lifestyle there has been a rise in health issues such as deficiency of nutrients. This has led to a rise in demand for functional foods as they offer high nutritional value. Moreover, with increasing awareness and availability of gluten-free products has highly expanded the consumer base of the global protein ingredients market.

Additionally, there is a paradigm shift in the consumer demand for pure products with minimal processing. This has led the companies to manufacture new protein based products such as micellar casein and whey. This has highly fortified the growth of global protein ingredients market. Moreover, people are no longer interested in conventional methods of preparing protein-rich foods owing to the availability of convenience foods. This has impacted the market favorably, thereby surging its growth.

Furthermore, extensive use of protein supplements in fitness and muscle building products have led to an expansion in the global protein ingredients market. In addition, the rising adoption of soy proteins in meat products for enhancing their texture and quality has driven the industry's growth.

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On the geographical front, North America is perceived to be the major revenue generator for the global protein ingredients market. This is owing to a food and beverages industry and high disposable income. Europe is also expected to witness steady growth during the forecast period. This is owing to the presence of key market players and rising product innovations.