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Protein Ingredient Market Trends, Regional Demand, Growth Promoters and Forecast by 2024

Author : Rahul Sankrityayan | Published Date : 2019-10-01 

Global Market Insights, Inc. provides a detailed overview of Protein Ingredient Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Strong scientific evidence supporting the healthy benefits of proteins is providing a significant impetus to the global protein ingredient industry. The ongoing research has proved that, proper intake of protein products helps in regulating body functions and in stimulating body muscles. Rising consumer consciousness regarding the protein intake and a considerable rise in spending parity of consumers have helped protein ingredient market to witness notable growth wave.

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Protein consumption varies widely across the world and is one of the hottest functional food ingredient trends in the United States. U.S. alone is projected to consume over 2.2 million tons by 2024. The trend of healthier snacking and the need for effective food intake to combat obesity has driven the regional protein ingredient market to witness a lucrative roadmap over the coming time frame.

Protein ingredient market by application

  • Food & beverages
  • Infant formulations
  • Cosmetic & personal care
  • Animal feed

To tackle lack of awareness toward proper nutritional intake, companies are focusing on new marketing tactics and advanced product portfolio. Thanks to a greater emphasis on publicizing protein’s health benefits beyond muscle health. Marketers are rapidly targeting a wide spectrum of population groups including millennials, females, and the elderly to increase the awareness levels regarding protein benefits globally.

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Approvals by European Union and Food & Drug Administration to utilize protein ingredients in customer products coupled with its wider adoption in countries like Canada, Australia and Japan are projected to promote global protein ingredient industry expansion.

Global Protein Ingredient Market size was higher than $22.1 billion for 2015 and forecast to record CAGR of more than 7.1% by end of forecast timeframe. Rising customer consciousness about health advantages from nutrient intake coupled with growing importance of its use in cosmetics segment as well as in food & beverages segment is predicted to industry expansion.

However, low adoption of other ingredients owing to lack of consciousness can inhibit industry growth. Limited supply of soybean as well as rising demand from alternate applications and channels are key factors projected to affect global protein ingredient market price.

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Food & beverage segment ked the application segment and was evaluated at higher than $11.6 billion for 2015. Factors like enhanced nutritional production, decrease in mixture timings and rising food fiber contents contributed for the segment growth.

U.S. protein ingredient market share led the regional industry demand contributing more than $6.6 billion in revenue terms for 2015. Customer choice for healthy items along with government acceptance to utilize these ingredients in infant formulas, food and cosmetics has fueled the regional industry expansion.

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About Global Market Insights:

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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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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