Protein Ingredient Market size worth $43.3bn by 2024: Global Market Insights Inc. Protein Ingredient Market size was more than USD 22 billion in 2015, gains at over 7% CAGR are forecast up to 2024; according to a new research report by Global Market Insights, Inc. Rising consumer preference for healthy foods accompanied by increase in purchasing power has driven global protein ingredient market size growth in food & beverage industry. FDA and EU approval for these ingredients across a host of applications and strong buyer acceptance should drive industry demand. U.S. protein ingredient market has seen dynamic evolution in recent times, backed by strong innovation and product launch trends. The regional food & beverage application was already valued at over USD 4 billion in 2015.
Soy protein ingredients market remains the largest plant-based industry avenue, with over 56% demand share in 2015. Issues with soybean supply owing to its multiple application scope will impact protein ingredients market price trend. Diabetes, cardiovascular health, obesity, and muscle building are the key potential benefits offered by these products. Egg proteins may face issues with respect to market penetration due to high consumer sensitivity to wheat glucans which is likely to affect product demand. Animal and dairy sources include meat, fish, gelatin, milk, and egg, Plant sources are majorly extracted from pea, rice, soy, wheat, and canola. Technology innovation has led to the ability to extract isolates, concentrates and hydrolysates. Increasing consumer awareness pertaining to functional foods and dietary supplements should stimulate market growth. Pea protein ingredient market may observe highest gains, growing at over 14.5% CAGR up to 2024. The product comprises an array of essential amino acids and are rich in lysine and arginine which should drive demand in infant formulations. U.S., Canada, Russia, China, and India were the major dry pea producers; in terms of wheat production, China, India, the U.S., Russia and France led the industry. Wheat being a staple cereal across the food industry may face supply issues for protein extraction applications. Animal feed applications include aquaculture and pet 1|Page