Business analysts forecast the global protein ingredients market to grow exponentially in the next few years.
Research covered the growth prospects of the global protein ingredients market for the period of 2016 to 2020. According to the report animal and plant protein are the two main products with the animal protein segment dominating the market with approximately 55% of the market share in 2015.
Analysts highlighted the following factors for the growth in the demand of protein products:
- Increase in global health-conscious population
- Growing infant formula market
- Increase in demand for soy proteins
- Growing demand for sport nutrition products
Consumers have become increasingly more health-conscious due to the increased occurrence of health problems such as obesity, malnutrition and weak immune systems. There is a constant increase in the demand for protein-rich food and beverages such as dietary supplements, sport nutrition products and ready meals. There is also a growing demand for infant formula, a powder or liquid formula given to babies between 6 and 12 months old, as parents become more aware of its nutritional benefits. The increase in the demand for infant formula is driving the sales of protein ingredients used in it such as soy and whey. Analysts also noted an increase in the demand for soy proteins because they are cheaper than many animal protein ingredients and highly preferred as an ingredient in various food products.Soy proteins, widely used in meat processing and in formulations, possess adequate amounts of amino acids, fiber, fats, calcium, potassium, and vitamins, and they assist in maintaining adequate cholesterol levels.
It is predicted that by 2020 the soy protein ingredients market is estimated to grow to $10.9 billion.
There is also a growing demand for sport nutrition products as a direct result of the increasing numbers of health and fitness-conscious people who want to boost their immunity and improve their physiques. More people are purchasing protein-based sport nutrition products like protein bars, supplements and powders to add nutritional value to their diets.