Global Protein Market - 2024-2031

Global Protein Market - 2024-2031

Global Protein Market reached US$ 12.4 billion in 2023 and is expected to reach US$ 20.1 billion by 2031, growing with a CAGR of 6.22% during the forecast period 2024-2031.

The global protein market is experiencing rapid growth, driven by increasing consumer demand for healthier and functional nutrition options. As more people prioritize clean and effective ways to meet their nutritional needs, products offering high-quality, convenient and enjoyable consumption experiences are gaining traction. Health-conscious consumers are particularly drawn to protein-enriched snacks, beverages and non-traditional formats, such as ready-to-drink protein shakes.

The evolving trend toward protein consumption has led to the diversification of the market, with innovations emerging to meet shifting dietary preferences and sustainability concerns. Key players are responding to this by introducing a variety of products designed to align with consumer demands. For example, in October 2023, Optimum Nutrition launched Clear Protein, a plant-based shake offering 20 grams of protein, zero sugar and refreshing flavors like lime sorbet and juicy peach.

Asia-Pacific is becoming a dominant force in the global protein market, driven by its vast production of key protein sources. In 2022, China produced 95.5 million tonnes of potatoes, while India led global dairy production with 221.1 million tonnes of milk in 2021-22. With increasing milk consumption in India and high potato production, the region is fueling innovation in protein-rich products, strengthening its position in the global market.

Dynamics

Rising Protein Deficiency Worldwide

Protein is an important part of a healthy diet, but an estimated one billion people worldwide suffer from protein deficiency. The problem is most severe in Central Africa and South Asia, where about 30 percent of children consume too little protein, according to FAO. Statistics reveal that 93% of the Indian population is unaware of the ideal protein requirement per day, with 97% of pregnant women, 96% of lactating mothers and 95% of adolescents unaware of their daily protein needs.

Protein deficiency leads to malnutrition, stunted growth and weakened immunity. Kwashiorkor, a severe form of protein malnutrition, is the most effective region including Southeast Asia, Central America, Congo, Puerto Rico, Jamaica, South Africa and Uganda. The World Health Organization also highlights that 25% of children globally suffer from protein-energy malnutrition, underscoring the urgent need for accessible protein sources.

The growing protein deficiency is driving the increasing demand for protein-rich foods and supplements, contributing to the expansion of the global protein market. As awareness of the importance of protein intake spreads, both plant-based and animal-derived proteins are seeing rising consumption across diverse regions. This shift is fueling market growth as more consumers and governments prioritize protein in addressing malnutrition and health concerns.

Shift Towards Launch of Clean And Sustainable Protein Solutions

The shift towards clean and sustainable protein solutions is a key driver behind recent product innovations in the food and beverage industry, which is even driving the protein market. Companies like Arla Foods Ingredients are responding to consumer demand for high-protein, clean-label dairy products by launching campaigns to encourage the development of innovative, high-protein dairy solutions. The new product launches reflect a broader market trend toward healthier, functional protein solutions.

The priority is given to sustainability, clean labels and plant-based ingredients, meeting the needs of increasingly health-conscious and environmentally aware consumers leading to such product launches. For instance, in July 2024, Alpino Health Foods introduced India’s first 100% peanut-based protein powder, offering a natural, lactose-free and highly digestible alternative with added BCAAs, catering to the growing fitness and plant-based market.

In the plant-based sector, in July 2024, Beyond Meat introduced its Sun Sausage made from whole ingredients like spinach and red lentils, marking a shift away from highly processed, meat-replicating products to simpler, cleaner plant-based options. This move aligns with consumer demand for more sustainable and natural protein sources. The new product introduction is expanding the product alignment to the customer needs and expanding the market reach.

Health Concerns of Some Protein Products

Health concerns are major obstacles to the global protein market, affecting both plant-based and animal-based products. Many consumers are wary of highly processed plant-based protein products, concerned about additives, preservatives and potential nutritional gaps. While plant-based proteins are often seen as a healthier, environmentally-friendly alternative, doubts persist about whether they provide all essential amino acids and nutrients found in animal proteins.

The uncertainty is fueled by information from organizations, contributes to hesitancy and slows the growth of both plant-based and animal-based protein markets. Harvard nutrition expert Kathy McManus warns against the indiscriminate use of protein powders, citing risks like digestive issues, added sugars and contaminants. She also points out the lack of strict FDA regulation, leaving consumers uncertain about the safety and accuracy of protein supplement labels.

Segment Analysis

The global protein market is segmented based on type, form, distribution channel, application, end-user and region.

Increasing Vegan Population

The global protein market is segmented based on type into plant-based, animal-based, insect-based and microbial. The plant-based protein segment is currently dominating the global protein market, driven by growing consumer demand for healthier and more sustainable alternatives to animal-based proteins. While animal products are considered the highest-quality sources of protein, research has increasingly linked the consumption of red meat to elevated risks of heart disease, stroke and premature death.

To avoid the health concerns related to animal-based products, people are highly preferring vegan options over animal-based products. With around 88 million vegans worldwide in 2022 as per Animal Health Foundation statistics, the shift towards plant-based diets is gaining significant momentum as individuals seek healthier, more environmentally friendly protein sources.

Various plant-based protein options such as soy protein, potato protein and pea protein have impressive protein content that can meet the protein needs. For instance, soy protein isolate typically has protein around 88.3 grams per 100 grams. Even everyday vegetables, such as potatoes, offer much lower protein content just 3 grams in a medium-sized, skin-on potato further highlighting the appeal of plant-based protein.

Geographical Penetration

Increasing Health Awareness in Asia-Pacific

Asia-Pacific is rapidly dominating the global protein market, driven by a combination of health awareness and shifting dietary habits. In India, almost 80% of the population fails to meet their daily protein requirements, giving the country significant reliance on different protein sources to meet the need. This deficit is compounded by the fact that 90% of Indians are unaware of their daily protein needs, creating a massive opportunity for the protein industry to grow through education and product innovation.

Additionally, with 1 in 4 Indians being obese, as highlighted by the National Family Health Survey (NFHS-5), there is a clear demand for healthier, protein-rich alternatives to combat lifestyle diseases. Meanwhile, China showcases a contrast with an average protein intake of 124.61 grams per person, signaling a more advanced awareness of nutrition and protein's role in health.

As urban populations in both India and China continue to adopt more sedentary lifestyles, the need for protein-rich diets is increasing, especially as consumers seek solutions for weight management, muscle development and overall wellness. This rise in fitness culture across the region, combined with the growing awareness of the importance of protein, positions Asia-Pacific as a key player in the global protein market.

Competitive Landscape

The major global players in the market include Archer Daniels Midland Company, Wilmar International Limited, Sonic Biochem Extractions Pvt. Ltd., Bunge Limited, Kerry Group PLC, Glanbia plc, International Flavors & Fragrances Inc., FrieslandCampina Ingredients, Fonterra Co-Operative Group Limited and Ingredion Incorporated.

Russia-Ukraine War Impact

The Russia-Ukraine war has severely disrupted the global protein market, particularly some raw materials as both countries are major suppliers of key agricultural commodities. With Ukraine producing over 21 million metric tonnes of potatoes and Russia contributing 18 million, the conflict has caused supply shortages, soaring prices and logistical challenges. Other protein sources such as Ukraine's dairy exports reached US$ 250.8 million in 2022 despite delivery costs skyrocketing fivefold.

Supply chain disturbances have driven up protein prices worldwide, impacting both consumers and industries. As a result, consumers are turning to more affordable alternatives and countries are focusing on local sourcing to ensure food security. While the war has created significant challenges, it has also sparked innovation in sourcing strategies, offering potential opportunities for more sustainable and resilient global protein markets in the future.

By Type
• Animal-based Proteins
Meat Proteins
Dairy Proteins
Egg Proteins
• Plant-based Proteins
Soy Protein
Pea Protein
Rice Protein
Other
• Insect-based Proteins
• Microbial Proteins

By Form
• Concentrates
• Isolates
• Hydrolysates
• Blends

By Distribution Channel
• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Pharmacies
• Online Retail

By Application
• Food & Beverages
Meat Alternatives
Protein-enriched Foods
Dairy Alternatives
• Beverages
• Animal Feed
• Dietary Supplements
• Cosmetics and Personal Care
• Pharmaceuticals

By End-User
• Athletes & Fitness Enthusiasts
• General Consumers
• Medical and Therapeutic

By Region
• North America
US
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In November 2023, Valio, a top Finnish dairy company, introduced Valio Eila MPC 65, a new lactose-free milk protein concentrate. Designed to enhance flavor and texture, this product helps manufacturers create tastier, healthier high-protein foods like puddings, shakes and ice creams.
• In June 2022, Roquette launched two rice proteins as part of its NUTRALYS plant protein range, catering to the growing demand for healthier food options.
• In February 2022, Amfora launched its first-generation ultra-high plant protein products, including ultra-high protein soy flour, texturized vegetable protein and crisps.

Why Purchase the Report?
• To visualize the global protein market segmentation based on type, form, distribution channel, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the protein market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global protein market report would provide approximately 78 tables, 79 figures and 208 pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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