Key Developments to Remain Key Expansion Strategies of the Leading Players in the Protein Ingredient Market from 2018-2024
Rising inclination of consumers for fortified foods to drive the growth in Protein Ingredients market in the next 6 years
Factors such as growing consumer consciousness and growing market acceptance, mainly for functional foods and dietary supplements is boosting the growth of protein ingredient market. Further, rising inclination of consumers for fortified foods and for foods enhanced with protein ingredients and increasing application of protein ingredients in food and beverage products is also fostering growth of this market in the near future. In addition to this, a rush in health-related issues among consumers has directed them to choose for functional foods that contain the right amount of proteins and other energetic nutrients and this is a major factor driving the growth of this market.
Increasing trend among the fitness-oriented consumers and role of protein-rich foods for building muscle and weight management are further motivating the growth of this market. Besides, growing demand for protein ingredients in different divisions such as cosmetics and pharmaceuticals are inspiring the consumers and demographic changes such as increasing income levels, growth in aged population, and growing urbanization have augmented the demand for protein ingredients worldwide. On the flip side, the growing concerns over the harmful effects of gelatin and the relatively lower consumption of plant proteins may limit the growth of this market over upcoming years.
North America to dominate the global protein ingredients market through 2018-2024
North America is the largest growing region for the protein ingredient market followed by Asia Pacific, while Europe region is the fastest growing region in this market. The growth in North America region for protein ingredient market is due to growing consumption of snacks; energy bars; and cold cereals as this product have high amount protein ingredients, and growing consumers demand for low saturated fat and cholesterol free beverages are boosting the growth of this market. Further, growing health awareness regarding the positive effect of protein consumption on health is expected to drive this regional market. Additionally, in Asia Pacific region, factors responsible for the growth of this market is due to growing aged population and continually changing climate conditions in countries like India, China, and Australia have upraised concerns for skin problems and these are anticipated to fuel personal care products demand that has resulted in enhancing the overall industrial growth over upcoming years. Upsurge in healthcare and cosmetics industries in India, Japan, and China combined with the low manufacturing cost as compared to the U.S. and European countries, is likely to drive the growth of protein ingredient market in this region.