The food protein ingredient market trends are expected to witness a considerable surge by 2024, with consumer focus steadily shifting towards the consumption of dietary supplements offering multiple health benefits and their strong application in the food & beverage industry.
Myriad health benefits of soy-protein including better metabolism, reduced diabetes risk, improved bone and digestive health and protection against diseases are contributing factors in stimulating the global food protein ingredient market outlook.
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The food protein ingredient market is expected to surpass $29 Billion by 2024, according to a report by Global Market Insights, Inc
The rice-based food protein ingredient market size is anticipating a CAGR of over 6% during the projected period. Another prominent source for plant-based protein, is rice. Owing to numerous functional properties including emulsification, foaming, viscosity, solubility and gelation, and high nutrition content with a strong amino-acid profile, rice-based food protein ingredients significantly impel the industry growth.
Rising intolerance to animal-based protein sources including meat, eggs or whey and a robust amino acid profile has led rice-based food protein ingredients to account for a majority share in this application segment. In fact, food protein ingredients application in sports nutrition is set to witness strong gains of more than 7% through 2024.
Germany food protein ingredient market size is projected to exceed $2 billion by the year 2024, bolstered by increasing demand for plant-sourced protein and upsurge in the vegan population. Government regulations and FDA standards regarding food labelling favoring plant-based food protein ingredients are also expected to stimulate the industry development.
Soy-based food protein ingredient industry size will be witnessing a growth rate of 7% over the forecast period. Soy-based ingredients contribute majorly toward plant-based food protein ingredient market, attributing to superior quality amino-acid profile and concentration. Increasing demand for soy-protein can be ascribed to its applications in functional food and meat & dairy replacement.
Rice-based food protein ingredients are widely used in the sport nutrition application, as supplements in fat-mass reducing post resistant workouts, improvement in lean body mass, skeletal muscle hypertrophy and strength.
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While sources can include both plant and animal bases, consumers show a higher propensity towards selecting plant-based products, owing to the widespread nutritional benefits as well as the growing landscape of the vegan lifestyle. The many health advantages of plant-sourced protein ingredients include effective blood pressure control, reduction of cancer and cardiac disease risks, thereby propelling food protein ingredient market growth.
Rising consumer awareness with regards to the health advantages of soy consumption will stimulate industry expansion. The improving landscape of R&D by industry contributors towards the introduction of soy-protein products into fortified food and beverages will also augment food protein ingredient market size.
Plant-based food protein ingredients can be extracted from a number of sources, key ones being pea, canola, wheat, soy, and rice. Extraction of plant-based proteins can be hindered by certain challenges pertaining to seasonal conditions, household consumption levels, supply/demand structures and transportation capability. Companies usually tackle these challenges by establishing manufacturing facilities within close proximity to the raw material source, resulting in reduced cost of production and uninterrupted supply.
Key industry contributors in the food protein ingredient market share include DuPont Solae, Cargill, Archer Daniel Midlands, CHS and Roquette. The focus is on R&D investments to improve products and application portfolios via strategic decisions like mergers & acquisitions, alliances and collaborations to boost production capacities and regional outlook.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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