Protein Hydrolysate Ingredients Market is expected to reach USD 1.0 Billion by 2031, growing at a CAGR of 7.30% during 2021- 2031: Future Market Insights
FMI has identified Arla Food Ingredients, Kerry Group Plc, Glanbia PLC, Friesl and Campina N.V., and Hilmar Ingredients as key players in the protein hydrolysate ingredients market. They collectively account for more than 25% market share in 2021.
The growing popularity of sports nutrition as consumers are switching towards a healthy lifestyle is fueling the demand for the sports nutrition segment, especially whey protein hydrolysate ingredients.
Increasing awareness among consumers about the health benefits of high protein content diets and supplements will create growth opportunities for the market. It also is expected to gain from the growing emphasis on deriving protein hydrolysate ingredients from the best protein source.
Increasing demand for versatile clinical nutrition with great taste will drive the market during the forecast period. Application in infant formula also will increase, especially in emerging economies, and is predicted to boost the consumption of protein hydrolysate ingredients in coming years.
Protein hydrolysate ingredients infused infant formula products are increasingly occupying shelves spaces in convenient stores and supermarkets across the globe. With the launch of a large number of new infant and toddler formula products, rising awareness regarding the early nutritional value in infants, and increasing consumer spending on baby’s health care products, the market is expected to grow at an accelerated pace in the coming years.
Key Takeaways from FMI’s Protein Hydrolysate Ingredients Market Study
· North American protein hydrolysate ingredients market is forecast to grow at 7.90% CAGR during the assessment period. Sales uptick can be attributed to high consumption of whey proteins and other protein ingredients and expansion of specialty food ingredient processing industries in the U.S.
· With increasing production of whey powder and growing demand for plant-based protein alternatives in the U.K and Germany, the Europe protein hydrolysate ingredients market is predicted to expand at more than 6.90% CAGR through 2031.
· Asia Pacific is expected to offer lucrative opportunities for market growth, backed by rising penetration of a large number of infant and toddler formula products in China and Vietnam.
· Japan and South Korea account for 5.3% and 5.1% of the global market share respectively in 2021. Growing consumer inclination towards a healthy lifestyle and a rise in the number of health centers and gymnasiums are the key growth drivers in these countries.
Prominent players in the international protein hydrolysate ingredients market are Arla Food Ingredients, Kerry Group Plc, Glanbia PLC, FrieslandCampina N.V., and Hilmar Ingredients. These accounted for a cumulative share of approximately ~25-30%.
Leading market players are focusing on expanding their product portfolio to consolidate their market position. For instance, Arla Foods announced its first organic ingredient MicelPure in August 2020, to cater to the ever-growing demand for natural protein ingredients. MicelPure is 87% native protein suitable for functional ingredient-based health foods. It is heat stable, contains minimum fat and lactose content.
Prominent players operating in the protein hydrolysate ingredients market are:
· Arla Food Ingredients
· Glanbia PLC
· FrieslandCampina N.V.
· Kerry Group Plc
· Hilmar Ingredients
· Armor Proteines
· Davisco Foods International, Inc. (Agropur Inc.)
· Fonterra Co-operative Group Limited
· Carbery Group Limited
· Costantino & C. spa
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