Table of Contents
This market insight focuses on the global demand for different types of protein ingredients. The segmentation in this research service is done by ingredient source, region, and end applications. Prices of various types of protein ingredients and the list of key industry participants are provided. This market insight also focuses on macro trends that affect the market space. The base year is 2012 and forecasts are provided up to 2017.
• The revenue of the global protein ingredients market stood at $ million in 2012. It is expected to reach $ million in 2017, at a compound annual growth rate (CAGR) of %.
• Dairy proteins led the global protein ingredients market and contributed % in terms of revenue and % in terms of volume, in 2012.
• Although plant proteins exhibit properties that can be compared to dairy proteins, dairy proteins offer better functionality, organoleptic properties, and mouth feel.
• However, the cost factor has enabled plant proteins to surpass dairy proteins in terms of revenue share, in certain applications and regions.
• The protein ingredient market in the Asia-Pacific region has been witnessing strong revenue growth. This trend is expected to continue and the demand for plant proteins is projected to be higher in Asia-Pacific than in other regions.
• The global market has a relatively high degree of concentration. The top three participants held % of market revenue in 2012.
Market Definition and Segmentation
• This research service focuses on the global protein ingredients market.
• Market size is calculated based on the total consumption of protein.
• The segments are dairy proteins and plant proteins.
• The dairy proteins include:
o Whey—whey protein concentratesX(WPC 34), whey protein concentrates 80(WPC 80), whey protein isolates(WPI), and whey protein hydrolysates(WPH)
o Milk protein concentrates (MPC)—MPC 42, MPC 50, MPC 70, and MPC 80 and above.
• Plant proteins include soy protein concentrates, soy protein isolates, textured soy proteins, wheat, pea, canola, and wheat proteins.
• The applications include sports and fitness nutrition, meat, dairy, beverage, bakery, and medical nutrition.
• The regions included in this study are:
o North America—Canada and the United States
o Europe—The European Union, Scandinavia, and Eastern Europe
o Asia-Pacific (APAC)—Thailand, Malaysia, Japan, Singapore, Vietnam, South Korea, Indonesia, Australia, and New Zealand
o Rest of World (ROW)—Middle East and Latin America
• Units are defined in kilograms (kg) and thousand metric tons.
• All prices and revenue are represented in US dollars.
Key Industry Challenges
• Raw material volatility
• Price pressure forces manufacturers to reduce profit margins
Key Success Factors
• Organoleptic properties
• Regulatory approvals
• Marketing strategies
• Long-term access to raw materials
Three Big Predictions
1. Blending of dairy and plant proteins is expected to continue throughout the forecast period, to mitigate costs.
2. The application of proteins—especially high-concentrate proteins, such as WPH and WPI—in medical nutrition is projected to increase.
3. The health and wellness Mega Trend and the growing functional food and beverage market are expected to boost sales of both plant and dairy proteins.
Blending of Plant and Dairy Proteins Set to Drive Overall Growth of the Market
• Access to raw materials has become a challenge for manufacturers, owing to the scarcity of non-GM soy and high volatility in dairy markets.
• Therefore, the prices of plant and dairy protein ingredients have gone up in the recent past.
• Manufacturers are under severe pressure, as they are unable to pass on the inflation in prices to consumers in the prevalent economic situation.
• Hence, blending of proteins has been and is expected to be a lucrative option for manufacturers, to mitigate the increasing cost of production and simultaneously offer the same functionality of proteins.
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