The global protein ingredients market size was estimated to be valued at USD 52.5 billion in 2020 and projected to reach USD 70.7 billion by 2025, at a CAGR of 6.1%. The growing consumer awareness about healthy diet options, rise in demand for superior personal & healthcare products, growth of functional food & beverages, and the rising demand for plant-based proteins are the major drivers for the growing demand for protein ingredients.
The key players in the protein ingredients market include Cargill (US), ADM (US), DuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), FrieslandCampina (Netherlands), Fonterra Co-operative Group Limited (New Zealand), Arla Foods (Denmark), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGRANA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), Burcon Nutrascience (Canada), Rousselot (Netherlands), Foodchem International Corporation (China), A&B Ingredients (US), and Reliance Private Label Supplements (US) are the players that hold a significant share in the protein ingredients market.
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The key players are focused on improving their market shares, while their newer start-ups are being established rapidly in the market. The protein ingredients market can be classified as a competitive one as it has the presence of a large number of organized players, accounting for a major part of the market share, present at the global level, as well as unorganized players present at the local level in several countries.
Cargill, Incorporated is engaged in the manufacturing and marketing of food, agricultural, and financial and industrial products and services. The company operates through five business segments—agriculture services, food ingredients & applications, origination & processing, risk management & financial, and industrial. Under its food ingredients & applications segment, the firm supplies protein ingredients, such as soy flour, to its end users worldwide. Cargill is a leader in both full-fat and defatted soy protein products. Some of its other offerings include wheat gluten, hydrolyzed wheat proteins, and soy proteins that have various applications in the beverage, bakery, dairy, and meat industries. The company operates across 70 countries with R&D centers in Europe, North America, and Latin America that provide services in Africa, Europe, Asia, Latin America, North America, and the Middle East to improve its global presence significantly.
Archer Daniels Midland Company (ADM) is primarily engaged in the production of food ingredients, feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company operates through four business segments: agriculture services and oilseeds, carbohydrate solutions, nutrition, and others. It offers animal protein products through its subsidiary, ADM Animal Nutrition, Inc. (US), and plant protein products through its specialty ingredients segment. It operates in more than 170 countries and has 44 innovation centers, around 500 crop procurement facilities, and 270 food & feed ingredient manufacturing facilities. It is present in Europe, Asia Pacific, Africa, South America, and North America. In August 2018, ADM opened a new technical innovation center in Shanghai for flavor and ingredient creation.
Protein Ingredients Market by Source (Animal and Plant), Form (Dry and Liquid), Application (Food & Beverages, Animal Feed, Pharmaceuticals, and Cosmetics & Personal Care), and Region (NA, EU, APAC, SA, RoW) - Global Forecast to 2025
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