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United States Protein Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026

United States Protein Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026

  • September 2022
  • ID: 6321720
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The United States Protein Market stood at 5.48 billion usd in 2021 and is projected to register a CAGR of 3.06% to reach 6.38 billion usd in 2026.

Key Highlights
Largest Segment by Source - Plant : Huge availability, functionality, low price of soy, wheat, and pea, and being a vegan protein source have contributed to the leading position of plant proteins in the US.
Largest Segment by End User - Food and Beverages : The F&B segment leads the market, driven by the meat and meat alternative, beverage, and bakery sectors. The rise in functional F&B boosts the demand for protein ingredients.
Fastest Growing Segment by Source - Microbial : The demand for microbial proteins, mainly algae protein, is noted from the supplements segment. Constant innovation and new entrants are anticipated to drive this segment.
Fastest Growing Segment by End User - Personal Care and Cosmetics : Protein-enriched skin, body, and hair care products’ demand is rising. Players offering products with protein ingredients in distinct concentrations are boosting the segment.

Key Market Trends

Largest Segment By End User : Food and Beverages

On the basis of end-user, the food and beverage sector holds a major share owing to the increasing demand for egg protein, milk protein, collagen in food and beverages products. The dairy alternative and meat alternative segment remained the most dominant, as it heavily integrates plant protein sourced from soy. In 2020, the two sub-segments together held a share of 33% by volume in overall protein consumed in the country.
The inclusion of sustainable alternative protein sources, such as insect protein, further increases the market scope in animal feed. Companies such as Enterra Corporation and Darling Ingredients are boosting their production capabilities to offer a cost-effective and efficient source of feed-grade protein. As a result, with a volume CAGR of 1.82%, the ingredient remained one of the fastest-growing protein types in animal feed.

Competitive Landscape

The United States Protein Market is fragmented, with the top five companies occupying 34.18%. The major players in this market are Archer Daniels Midland Company, Bunge Limited, CHS Inc., DuPont de Nemours Inc. and Südzucker Group (sorted alphabetically).

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