US Protein Ingredients Market

us protein ingredients market Overview

Soybean and whey collectively command a substantial market volume share of approximately 47%, as estimated in the year 2017. The positive growth in soybean can be attributed to an increase in acreage dedicated to soybean cultivation and a growing adoption of plant proteins. The plant proteins sector is witnessing higher growth in soybean, followed closely by canola, while whey continues to exhibit strong performance in the animal proteins category. The prevailing market volume share for powder and ready-to-drink forms of protein ingredients is approximately 52%, as estimated in 2017. This dominance is fueled by a surge in demand for convenient products that cater to consumers' on-the-go lifestyles. Projections for the forecasted period from 2017 to 2022 indicate that the ready-to-drink form of protein ingredients is poised for the fastest growth rate, closely followed by powder. However, in terms of market concentration by volume, the powder form is expected to retain a more significant share. In the U.S., functional foods emerge as the primary consumer of protein ingredients, utilizing the majority of the supply. This trend is propelled by the prevalence of major functional food companies, their operational presence, and the country's largest supply and demand base for functional foods. Consequently, the U.S. stands out as a key driver of the heightened demand for protein ingredients in the functional foods sector. Looking ahead, sports nutrition is forecasted to witness the highest growth, followed by functional foods in the U.S. during the period from 2017 to 2022. This growth is fueled by an increased recognition of the importance of protein for athletes' performance and the specific requirements of functional foods, including aspects like weight management and bone health. These factors collectively contribute to the escalating demand for protein ingredients in both the sports nutrition and functional foods segments.

Report Attribute/Metric	Details
Market Size 2022	USD 38.2 billion
Market Size 2023	USD 42.02 billion
Market Size 2032	USD 90.173 billion
Compound Annual Growth Rate (CAGR)	10.00% (2023-2032)
Base Year	2022
Market Forecast Period	2023-2032
Historical Data	2018- 2022
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Application, and Region
Geographies Covered	Asia Pacific, North America, Europe, and the Rest of the World
Countries Covered	The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	Archer-Daniels-Midland Company, Kerry Group, Bunge Limited, Cargill, DuPont, Fonterra Co-operative Group, Friesland, Kewpie Corporation, Mead Johnson Nutrition Company, Omega Protein Corporation, Arla Foods Ingredients,
Key Market Opportunities	Increase in demand for sports nutrition, growing weight management practices, and improved distribution channels.
Key Market Dynamics	The high expenditure by the company in marketing protein ingredients and increasing consumer preferences.