Global Protein Ingredients Market is projected to grow at a CAGR over 10% by 2028

May 9, 2023 Pune, India, / Market Research Future published a cooked research report on global protein ingredients market

Protein ingredients market Overview

The protein ingredients market is predicted to register a CAGR of 10% during the 2021 to 2028 forecast period. A market research report predicts a USD 85,200 Million valuation of the market by 2028. The growth is anticipated to be supported by the growing application areas. Based on the report, favorable government policies will drive growth in the market in the coming years till 2028. However, the availability of substitutes will negatively affect the protein ingredients market’s growth. The growing preference of consumers towards alternative solutions is anticipated to be another factor which could turn out to be a threat to companies during 2021 to 2028.

The market report based on primary and secondary data reveals that feedstock, form, and applications segments will witness a healthy growth till 2028. While the surging usage across different industries will support the market during the forecast period and the increasing demand from various industry verticals will also help the market globally, the growth could be affected by the weak supply chain which could hinder business activities. The lack of developed infrastructure is also expected to be responsible for stalled market growth till 2028.

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Market Segmentation

The protein ingredients market is categorized into smaller segments such as feedstock, form, and applications in order to analyze the market. The feedstock, form, and applications segments are then categorized further. The feedstock segment is categorized into beef, canola, casein, egg, milk, pea, pork, soy, wheat, whey, and others. Analysts have studied these sub segments. Based on form, the global market is further segmented into bars, capsules & tablets, powder, ready to drink, and others. Based on the study of these segments, analysts have shared market forecasts. On the basis of applications, the market is segmented into smaller segments including confectionery & other food products, functional foods, meat additives, pharmaceutical, sports nutrition, and others.

The increasing preference of consumers will drive growth in the market during the forecast period 2021 to 2028. Across all the segments including feedstock, form, and applications, the global market for protein ingredients will witness a healthy growth. However, factors such as the fluctuating prices of raw materials could become a threat to the market’s growth. Economic activities surrounding the protein ingredients sector will also get benefitted from the increasing awareness among consumers. Businesses across protein ingredients have been thoroughly studied and analysed by protein ingredients industry’s expert researchers. Findings have been published in the protein ingredients market research report with forecasts till 2028.

Regional Overview

The protein ingredients market, apart from the product and service related segments is spread across the world. The regional markets of protein ingredients covered in the report are North America, Europe, Asia-Pacific, the Middle East and Africa as well as the rest of the world. The increasing disposable income is set to be a key growth factor for businesses active in the protein ingredients space. The market across North America is segmented into the United States, Mexico, Canada, and others. Regional markets in the protein ingredients sector across the European market are segmented into Germany, Italy, the United Kingdom, and France. The market in the APAC region is segmented into India, China, Japan, and others. protein ingredients based businesses across the world will be supported by shifting trends in the consumer market during the forecast period 2021 to 2028. However, the growth could be hindered by unstable raw material prices. The market is also segmented into the Middle East and Africa regions among others.

Competitive Landscape

Protein ingredients based companies have been studied and profiled in the market research report. The protein ingredients market along with its segments and key players has been studied. Protein ingredients business analysis is done to identify competitors and their strategies. The global protein ingredients market research report covers core values, strengths and other key factors about protein ingredients related companies. competitors to help comprehend their mission, vision, core values, niche market, strengths, and weaknesses. The surging usage across different industries is set to help the market during the forecast period 2021 to 2028. The market is anticipated to reach a higher valuation of USD 85,200 Million with a CAGR of 10%. However, unstable raw material prices will prove to be affecting the protein ingredients market growth.

Industry News

Kerry has been increasing its position in the market for plant-based protein ingredients, and the purchase of Pevesa is part of the approach. The Spanish firm not only has proprietary technologies in the non-allergenic plant protein market, but it also has experience with organic and traditional biofertilizers for citrus, olive, and specialty garden growers. This would be a good way to fill out Kerry's portfolio. Kerry introduced the Radicle range of plant-based proteins as well as dairy substitutes last year. The step, according to the brand, is intended to improve the nutritional value of plant-based foods while also resulting in more natural flavors and healthier labelling.