Protein Ingredients Market: Soaring Demand Assures Motivated Revenue Share During 2032

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Protein Ingredients Market: Soaring Demand Assures Motivated Revenue Share During 2032
Protein Ingredients Market: Soaring Demand Assures Motivated Revenue Share During 2032

Protein Ingredients Market

According to a recent report by Future Market Insights, a market research and competitive intelligence provider, protein ingredients market is estimated to be valued at USD 27.5 Billion in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach a valuation of USD 47.4 Billion by 2032, rising at a CAGR of 5.6% for 2022 to 2032.

Among many of the growth drivers, the use of plant- and dairy-based protein ingredients in the production of insecticides, fertilizers, paper coatings, printing inks, and paper is expected to boost protein ingredient sales during the forecast period.

Aside from that, the food and beverage industry accounts for a sizable portion of the protein ingredients market’s revenue. Protein manufacturers are developing new isolates and concentrate, increasing the use of protein ingredients in dairy products, dietary supplements, bakery products, confectionery, infant formula, and other products.

The growing demand for plant-based protein alternatives, combined with consumer interest in foods that promote health and well-being, is expected to open up new opportunities in the Protein Ingredients Market. Protein components are suitable for nutraceutical applications because they contain essential amino acids that have therapeutic properties.

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Key Takeaways from Market Study

  • Because of the consistency of consumer spending in the United States, the protein ingredient market will continue to grow steadily, and changes in America’s food safety laws will focus more on preventing food contamination, driving protein ingredient growth.
  • The government of the United Kingdom promotes healthy eating and lifestyle among its citizens and this drives the protein ingredient market.
  • The Food and Beverage industry in Spain is steadily expanding, increasing the demand for high-quality protein supplements.
  • Because of its low growth and attractive prices, Japan, a high-income country, has a significant share of the protein ingredients market.
  • The Australian protein market will grow at a CAGR of 7.2 percent during the forecast period (2022-2032).

“As a result of the world’s rapid population growth and rising consumer awareness about nutrition and health, the global protein ingredients industry is rapidly expanding,” says a lead analyst at Future Market Insights.

Who is winning?

Players in the protein ingredients market have adopted business expansion and product launch as key development strategies in order to increase their market share, increase profitability, and remain competitive.

  • In January 2019, Ingredion, Inc. announced a USD 185 million investment to expand their plant protein ingredient plant in Canada and Vanscoy, Saskatchewan in an effort to increase the company’s production capabilities, which are expected to capture the protein ingredients market during the forecast period.

Among the key players profiled in the report are Cargill, ADM, DuPont, Kerry Group, Omega Protein Corporation, Friesland, Mead Johnson Nutrition Company, Fonterra Co-operative Group, Kewpie Corporation, and Bunge Limited.

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