Protein Ingredients Market

Archer Daniels Midland Company (ADM) and Cargill (US) are the Major Players in the Protein Ingredients Market

The global protein ingredients market size is projected to grow from USD 49.8 billion in 2019 to USD 70.7 billion by 2023, at a compound annual growth rate (CAGR) of 6.0% during the forecast period.

Growing consumer awareness about healthy diets options, rise in demand for superior personal & healthcare products, growth of functional food & beverages, and rising demand for plant based proteins are the major drivers for the growth of protein ingredients.

The major protein ingredients players include Cargill (US), ADM (US), DowDuPont (US), Kerry Group (Ireland), Omega Protein Corporation (US), Friesland (Netherlands), Fonterra (New Zealand), Arla Foods (Denmark), AMCO (US), Roquette (France), Gelita AG (Germany), Kewpie Corporation (Japan), AGARNA (Austria), AMCO Proteins (US), Hilmar Ingredients (US), Axiom Foods (US), and Burcon Nutrascience (Canada). Expansions formed the most dominant strategy adopted by major players, followed by acquisitions. This has helped them to increase their presence in different regions and increase their product portfolio.

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Cargill is engaged in manufacturing and marketing of food, agricultural, 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. The company is pursuing expansion as a strategy to cater to the increasing demand for wheat protein products. For instance, in 2016, the company opened Cargill ONE, an innovation center in China. It focuses on taste and flavors, food ingredients, and menus that appeal to the changing consumer demand.

Archer Daniels Midland Company (ADM) produces food & beverage ingredients, feed & feed ingredients, industrial ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company operates through five segments—agricultural services, oilseeds processing, corn processing, wild flavors and specialty ingredients, and others. It offers animal protein products through its subsidiary ADM Animal Nutrition, Inc. (US), and plant protein products through its specialty ingredients segment. The company diversified product offerings, complemented with its extensive geographical reach and strong business strategies, make ADM one of the leaders in the protein market. The company has focused on acquisition as one of its key strategies to expand its presence in the protein ingredients market. For instance, in 2015, the company acquired Blue Ocean Agencia Maritima Ltda (Brazil). This acquisition enhanced the logistic network of ADMs agri-commodities business

Related Reports:

Protein Ingredients Market by Source (Animal (Dairy, Egg, Gelatin) and Plant (Soy, Wheat, Vegetable)), Form (Dry and Liquid), Application (Food & Beverages, Feed, Pharmaceuticals, and Cosmetics & Personal Care Products), Region - Global Forecast to 2025

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Report Code
FB 3470
Published ON
Apr, 2019
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