Protein Ingredients Market Worth $39 Billion by 2020
The protein ingredients market is mainly driven by the rising demand for nutritional food and growing health consciousness among consumers
The report "Protein Ingredients Market by Source (Animal (Dairy, Egg, Gelatin) & Plant (Soy, Wheat, Vegetable)), Application (Food & Beverage, Animal Feed, Cosmetics & Personal Care, Pharmaceuticals), by Region - Global Trend & Forecast to 2020" published by MarketsandMarkets, the market for Protein Ingredients is projected to grow at a CAGR of 5.6% to reach $39.08 Billion from 2015 to 2020.
The protein ingredients market is mainly driven by the rising demand for nutritional food and growing health consciousness among consumers. Furthermore, increasing consumption of livestock products across the globe and rising demand for superior personal and health care products have led to the growing demand for protein ingredients in industries such as animal feed, cosmetics & personal care, and pharmaceutical. Expansions formed the most preferred strategy among the key players, to expand their geographical reach, retain existing client base, and attract new customers, globally. Industry players have focused on expanding their business and establishing new business units in the emerging markets in order to enhance their global reach and sustain the competition prevailing in the market. Acquisition also helped key players in strengthening their product portfolio.
The market report defines and segments the Protein Ingredients Market with analyses and projections of the market size in terms of value. It also identifies the driving and restraining factors of the market with analyses of the trends, opportunities, restraints, and challenges. The size of the market in key regions North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been estimated and projected.
The report includes development strategies and product portfolio of the leading companies such as Archer Daniels Midland Company (U.S.), Kerry Group plc (Ireland), Cargill, Incorporated (U.S.), E.I. du Pont de Nemours and Company (U.S.). Other players include Omega Protein Corporation (U.S.), Arla Foods (Denmark), Amco Proteins (U.S.), Fonterra Co-Operative Group LTD (New Zealand)), Gelita AG (Germany), Hilmar Ingredients (U.S.), and Kewpie Corporation (Japan).
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