Dublin, Dec. 08, 2021 (GLOBE NEWSWIRE) — The “Protein Ingredients Market by Type (Animal Protein, Plant Protein, Insect Protein, Microbial Protein), Form (Dry, Liquid), Application (Food and Beverages, Animal Feed, Nutritional Supplements, Pharmaceuticals, Cosmetics) – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
This report provides an in-depth analysis of the protein ingredients market across five major geographies and emphasizes on the current market trends, market size, market shares, recent developments, and forecasts till 2028. The Protein Ingredients Market is expected to reach $79.7 billion by 2028, at a CAGR of 8.0% during the forecast period 2021-2028.
The growth of this market is mainly attributed to the growth of the functional foods and beverages market, advancements in ingredient technologies such as microencapsulation, rising demand for livestock products, increasing awareness about the benefits of protein consumption, and growing consumer inclination towards protein-rich diets. However, fluctuating raw material prices and the high cost of protein ingredients such as insect protein and algal protein are expected to restrict the market’s growth.
The study offers a comprehensive analysis of the protein ingredients market based on type, form, application, and geography. The protein ingredients market is mainly segmented by type (animal protein [dairy protein {milk protein and whey protein}], casein & caseinates, egg protein, gelatin, and others), plant protein (soy protein, wheat protein, pea protein, rice protein, potato protein, canola protein, corn protein, and others), insect protein, and microbial protein (algae, fungi, and others)), form (dry and liquid), application (food & beverage, animal feed, nutrition and health supplements, pharmaceuticals, personal care and cosmetics, and others), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the country level.
Geographically, Europe is estimated to account for the largest share of the protein ingredients market in 2021. Europe’s largest share is primarily attributed to the changing food consumption patterns in favor of functional foods, a well-established food & beverage industry, rising concerns over animal-based products and proteins, increasing vegan population, growing preference for functional and nutritious ingredients, increasing demand for healthy & nutritious products, and growing health & wellness trends. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.
The key players operating in the protein ingredients market are Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), E.I. Dupont De Nemours and Company (U.S.), Kerry Group (Ireland), Roquette Freres (France),…