A research study titled, “Protein Ingredients Market by Source and Application – Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the protein ingredients market is projected to be around $59 billion by 2025.
Proteins are one of the most vital types of molecules in the human body. They are complex combinations of chemical compounds called amino acids. Some of the amino acids are produced in the human body whereas some have to be obtained from our diet. Proteins are utilized for various purposes in the human body. Many of the hormones in human body such as progesterone and insulin are proteins. Hemoglobin, a blood protein carries out oxygen transport to the cells. Muscle proteins such as myoglobin are responsible for our ability to move. Proteins such as RNA and DNA present in the nuclei of the cells are responsible for the genetic code.
Animal proteins segment occupied a significant share of the global market in 2016, due to the rising consumption of dairy products and eggs worldwide and superior nutritional profile as compared to plant protein. Egg protein segment in animal proteins market will show the fastest growth during the forecast period with major use in baked items, sports food, and ice cream. Canola proteins market will experience a favorable growth during the forecast period with Canada, France, Germany, and India being the major canola producing countries.
Food and beverage segment accounted for the largest share of the protein ingredients market.This is attributed to factors such as increase in demand for functional foods and rising health consciousness among consumers leading to preference for nutritious diets. The personal care and cosmetics market will witness highest growth over the forecast period due to the large scale applications of proteins in sunscreens, shampoos, and different types of skin creams.
U.S. held the major share of the North American protein ingredients market in 2016, due to rising preference of consumers towards healthy product consumption along with government approvals for use in infant formulas and cosmetics. China will witness favorable growth for protein ingredients market during the forecast period owing to a rise in consumer spending on healthcare and increase in purchasing power.
The key strategy followed by the companies operating in protein ingredients market is mergers and acquisitions. For instance, in September 2014, Omega Protein Corporation acquired Bioriginal Food & Science Corp. to expand its portfolio in terms of specialty oils, essential fatty acids, and nutraceuticals. In June 2016, Cargill acquired Five Star Custom foods Inc. of Fort Worth to enhance its cooked protein capabilities. Some of the major companies in protein ingredients market are Omega Protein Corporation, Archer Daniels Midland Company (ADM), E. I. duPont de Nemours and Company, Cargill, Kerry Group PLC. Other companies are Fonterra Co-operative Group Ltd., Arla Foods, Kewpie Corporation, AMCO Proteins, GELITA AG, and Hilmar Ingredients.
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