The report "Protein Ingredients Market by Source (animal [dairy, egg, gelatin] and plant [soy, wheat, vegetable]), Form (dry and liquid), Application (food & beverages, feed, pharmaceuticals, and cosmetics & personal care products), Region – Global forecast to 2025" The protein ingredients market is projected to grow from USD 49.8 billion in 2019 to USD 70.7 billion by 2025, at a compound annual growth rate (CAGR) of 6.0% during the forecast period. The major factors driving the protein ingredients market include the increase in demand and consumption of functional food & beverages, growing consumer awareness about healthy diets among people, and increasing demand for protein as a nutrition and functional ingredients.

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The food & beverage segment is projected to account for the largest market share during the forecast period

The food & beverage segment dominated the application of protein ingredients market in 2018. Growing health consciousness and obesity has compelled consumers to increasingly focus on healthy diets with low-fat and highly nutritive value food, leading to a rise in consumption of protein ingredients. As a result, the demand for functional and health food is on the rise. Besides their nutritional properties, proteins are widely used for their functional properties, which include texturing, emulsifying, solubility, stabilizing, and binding. These functional properties enable manufacturers to lower their raw material costs, as they act as substitutes to some food additives and are used to impart specific properties.

By source, the animal segment is projected to hold the largest market share during the forecast period

The animal protein segment is projected to dominate the market, owing to its better nutritional profile than plant protein, its dominant usage in a larger number of end-use applications such as functional beverages, and difficulty in substituting egg and gelatin in bakery and confectionery applications.

The dry form of protein ingredient is projected to be the fastest growing form in the protein ingredients market

The dry form of protein ingredients is largely preferred by manufacturers of food & beverage, feed, and pharmaceutical products as they have better stability and ease of handling & storage, as compared to the liquid form. Furthermore, they have a longer shelf life compared to the liquid form. Dry forms of animal- and plant-based protein ingredients are widely used.

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Europe is projected to account for the largest market share in the protein ingredients market during the forecast period

The European market accounted for the largest share in the protein ingredients market. This dominance is attributed to high consumption in this region. The consumption in Europe is more than twice the global average consumption. The high-protein trend in food & beverages and personal care & cosmetics is gaining a foothold in Germany, as protein claims on food and drink launches continue their growth path. The increasing prevalence of health-related problems along with high importance being laid on the quality, taste, and freshness of foods is modifying food demand, owing to which, the market for protein ingredients is projected to witness growth.

Key Market Players:

The major vendors in the global protein ingredients market include Cargill (US), ADM (US), DowDuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), Friesland (Netherlands), Fonterra (New Zealand), Arla Foods (Denmark), AMCO (US), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGARNA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), and Burcon Nutrascience (Canada). These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past.