Protein Ingredients Market Report by Product Type (Animal Proteins, Plant Proteins), Application (Food and Beverages, Personal Care and Cosmetics, Pharmaceuticals, Animal Feed), and Region 2024-2032

Protein Ingredients Market Report by Product Type (Animal Proteins, Plant Proteins), Application (Food and Beverages, Personal Care and Cosmetics, Pharmaceuticals, Animal Feed), and Region 2024-2032

The global protein ingredients market size reached US$ 42.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 64.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032. The increasing health awareness, rising trends of veganism and vegetarianism, rapid technological advancements, rising geriatric population, introduction of regulatory support, growing fitness trends, and the rising demand for alternative protein sources are some of the major factors propelling the market.

Protein ingredients refer to compounds containing essential amino acids that are derived from various sources. It includes animal-based and plant-based proteins, such as meat, poultry, fish, soy, lentils, and peas. Protein ingredients find extensive applications in food and beverage (F&B) products, nutritional supplements, pet food, infant formula, weight management products, dairy alternatives, meat substitutes, bakery products, cosmetic products, and pharmaceuticals. They aid in supporting muscle growth, enhancing immune function, assisting in weight loss, promoting heart health, improving skin health, boosting metabolism, increasing energy levels, regulating blood sugar levels, and enhancing bone strength.

The widespread product utilization to maintain muscle mass and bone health, owing to the rising geriatric population, is strengthening the market growth. Furthermore, the introduction of regulatory support emphasizing nutritional standards and encouraging the consumption of proteins is favoring the market growth. Additionally, the growing fitness trends across the globe are facilitating product demand to support muscle recovery and growth. Apart from this, the rising demand for alternative protein sources, owing to the increasing concerns towards environmental sustainability and animal welfare, is contributing to the market growth. Moreover, growing expenditure capacities, which enable individuals to spend more on quality food products that are rich in protein, are positively influencing the market growth. Other factors, including increasing demand for personalized nutrients, rising investments in the development of advanced production methods, and rapid improvement in logistics and supply chain capabilities, are anticipated to drive the market growth.

Protein Ingredients Market Trends/Drivers:
The increasing health awareness

The escalating prevalence of lifestyle-related diseases and conditions has resulted in a consumer shift toward health and wellness. Furthermore, people are increasingly recognizing the importance of a balanced diet filled with nutrients, including proteins. In line with this, the increasing demand for protein ingredients in food, beverages, and nutritional supplements is positively influencing the market growth. Additionally, the widespread education and information dissemination about the role of proteins in supporting muscle growth, immune function, weight management, and overall vitality is fueling the market growth. Moreover, the growing demand for products labeled as high-protein or enriched with protein among health-conscious consumers is contributing to the market growth. Apart from this, aggressive marketing and advertising campaigns by food and beverage (F&B) companies emphasizing protein benefits, coupled with endorsements by healthcare professionals, are strengthening the market growth.

The rising trends of veganism and vegetarianism

The shifting trend towards plant-based diets, including vegetarianism and veganism, across the globe is a significant driver for the protein ingredients market. Furthermore, the ethical concerns related to animal welfare, environmental sustainability, and personal health considerations are propelling consumers to seek plant-based alternatives. Besides this, the easy availability of protein sources, such as soy, lentils, peas, and other legumes, which has made the transition towards veganism easier, is supporting the market growth. Moreover, food manufacturers are capitalizing on the shifting trend of vegetarianism by offering a wide variety of plant-based protein products, ranging from meat substitutes to dairy-free options. Additionally, aggressive promotional campaigns through celebrity endorsements, media coverage, and social media influencers to promote plant-based diets are positively influencing the market growth.

The rapid technological advancements

The technology-driven evolution in the food industry is greatly impacting the protein ingredients market. In line with this, the innovations in extraction, processing, and formulation techniques, which have enabled the creation of protein ingredients with superior quality, taste, and functionality, are boosting the market growth. Along with this, the introduction of advanced technologies, such as microencapsulation, hydrolysis, and spray drying, which have expanded the applications of protein ingredients, allowing them to be incorporated into a broader range of products, is fueling the market growth. Apart from this, the development of new protein sources, including lab-grown meats and algae-based proteins, is catalyzing the market growth. Moreover, the recent technological advancements, which have facilitated the production of protein ingredients with specific characteristics tailored to particular consumer needs and preferences, are strengthening the market growth.

Protein Ingredients Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global protein ingredients market report, along with forecasts at the global and regional levels from 2024-2032. Our report has categorized the market based on product type and application.

Breakup by Product Type:

Animal Proteins
Egg Protein
Whey Protein
Gelatin
Casein
Milk Protein Concentrates/Isolates
Plant Proteins
Wheat Protein
Soy Protein
Pea Protein
Others

Animal proteins dominate the market

The report has provided a detailed breakup and analysis of the market based on the product type. This includes animal proteins (egg protein, whey protein, gelatin, casein, and milk protein concentrates/isolates) and plant proteins (wheat protein, soy protein, pea protein, and others). According to the report, animal proteins represented the largest segment.

Animal proteins are considered complete proteins, which makes them highly desirable for the human body’s nutritional demand. Additionally, animal proteins, such as poultry, beef, fish, and dairy are widely available in various forms, which contributes to their dominance in the market. Besides this, the increasing consumer preference for animal proteins over plant-based alternatives, owing to their taste and texture, is positively influencing the market growth. Furthermore, the easy accessibility of animal protein owing to its cost-effectiveness is favoring the market growth. Apart from this, the widespread product utilization across numerous industries, such as pharmaceuticals, food processing, and cosmetics, is contributing to the market growth. Moreover, the continuous research and development (R&D) in the field of animal proteins, which results in improved functionalities, taste, and nutritional benefits, is supporting the market growth.

Breakup by Application:

Food and Beverages
Personal Care and Cosmetics
Pharmaceuticals
Animal Feed

Food and beverages dominate the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes food and beverages, personal care and cosmetics, pharmaceuticals, and animal feed. According to the report, food and beverages represented the largest segment.

Food and beverages are dominating the market owing to the escalating awareness of the importance of protein in the diet. Furthermore, protein ingredients can be incorporated into a wide variety of food and beverages, including meat alternatives, dairy products, snacks, bakery goods, and beverages. Apart from this, the surge in plant-based diets, which is facilitating the demand for plant-based protein ingredients, is positively influencing the market growth. In addition, the rising focus on fitness and wellness, which is prompting consumers to incorporate protein supplements and protein-enriched food and beverages in their daily diets, is supporting the market growth. Moreover, the imposition of various regulations by governments and other organizations emphasizing the importance of protein in the diet is acting as another growth-inducing factor.

Breakup by Region:

Europe
North America
Asia Pacific
Latin America
Middle East and Africa

Europe exhibits a clear dominance in the market, accounting for the largest protein ingredients market share

The report has also provided a comprehensive analysis of all the major regional markets, which includes Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. According to the report, Europe represented the largest market segment.

Europe is witnessing significant demand for protein ingredients due to rising consciousness about health and wellness. Furthermore, the region has robust regulatory standards governing food quality, safety, and labeling. These regulations encourage transparency and quality control in the production of protein ingredients, thus building consumer trust. Apart from this, the growing trend towards vegetarianism and veganism in Europe, which has resulted in increased demand for plant-based protein ingredients, is contributing to the market growth. Besides this, Europe's investment in research and development (R&D) activities, coupled with technological innovation, which has led to the creation of advanced protein ingredients with diverse applications, is favoring the market growth. Moreover, the increasing push towards sustainable sourcing, production, and consumption of protein ingredients is fueling the market growth.

Competitive Landscape:
The leading protein ingredient companies are developing new extraction methods, improving functionality, and tailoring protein ingredients to specific applications. In addition, they are entering emerging markets through partnerships, acquisitions, or establishing local manufacturing facilities. Furthermore, top companies are implementing practices that minimize environmental impact, such as sourcing raw materials responsibly and reducing waste in production. Apart from this, they are responding to consumer demands for tailored nutrition by developing customized protein solutions catering to specific dietary needs, preferences, and health goals. Moreover, several key market players are collaborating with other industry stakeholders, academic institutions, or technology firms to leverage shared expertise and resources. Along with this, companies are investing in plant-based protein ingredients to diversify their portfolios and attract a broader customer base.

The report has provided a comprehensive analysis of the competitive landscape in the global protein ingredients market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Cargill, Inc.
Archer-Daniels-Midland Company
Kerry Group
Omega Protein Corporation
Mead Johnson

Recent Developments:
In April 2022, Cargill, Inc. announced its plan to expand RadiPure pea protein into the India and META market.
In April 2022, Archer-Daniels-Midland Company invested US$ 300 Million to boost its product capacity of alternative proteins at its plant in Decatur, Illinois.
In June 2020, Kerry Group launched 13 new plant-based proteins made from rice, pea, and sunflower.

Key Questions Answered in This Report

1. How big is the global protein ingredients market?
2. What is the expected growth rate of the global protein ingredients market during 2024-2032?
3. What are the key factors driving the global protein ingredients market?
4. What has been the impact of COVID-19 on the global protein ingredients market?
5. What is the breakup of the global protein ingredients market based on the product type?
6. What is the breakup of the global protein ingredients market based on the application?
7. What are the key regions in the global protein ingredients market?
8. Who are the key players/companies in the global protein ingredients market?