Published on : Sep 09, 2016
ALBANY, New York, September 09, 2016: ResearchMoz.us recently added a new research report to its exhaustive repository. The research report, titled “Global Protein Ingredients market 2016-2020,” discusses the various factors driving and restraining the global protein ingredients market. The report has been compiled using primary and secondary research methodologies. The document includes an in-depth analysis of the segmentation at micro levels to provide its readers a thorough understanding of the market dynamics. Analysts have listed market volumes, trends, revenues, market size, and the competitive landscape governing the overall market.
The report states that the global protein ingredients market is expected to grow at a CAGR of 6% by 2020. It states that the market will be driven by the growing number of consumers opting for healthy food options. This is also expected to result in an increased uptake of functional food items that are rich in proteins. Growing focus towards exercising, maintaining healthy lifestyles, and an active participation in sporting activities is also likely to result in a remarkable consumption of protein ingredients in the near future.
The global protein ingredients market is segmented on the basis of product into animal protein and plant protein. Analysts predict that the plant protein segment will dominate the global market as the segment is anticipated to exhibit a CAGR of 7% by 2020. The affordability of plant protein in comparison to animal protein is expected to play a critical role in defining the future of this segment. The demand for plant-based protein ingredients will also be augmented due to the rising number of vegetarians and growing fad of veganism across the world. The changing mindsets about the environment are also projected to generate a considerable demand for plant-based protein as these are far more eco-friendlier than animal-based proteins.
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Geographically, the global protein ingredients market is segmented into Europe, Asia Pacific, North America, and Rest of the World. As of 2015, Europe held a dominant share in the global market, accounting for nearly 36% of it. The growth of Europe protein ingredients market is attributable to the increasing demand for functional foods and sports nutrition as consumers are focusing on living an active lifestyle. Growing disposable incomes and a surge in the number of people opting for protein enriched food items is also anticipated to drive the demand products available in the overall market.
The global protein ingredients market has several large as well as emerging players. Product innovation and price differentiation are the two key strategies being adopted by manufacturers in this market to remain competitive. Several vendors are also looking at building operations in developing nations of South America and Asia Pacific as a both offer a huge population base with rising disposable incomes. Diversification of product portfolios and indelible marketing and branding strategies will also prove to be beneficial to the manufacturers in the overall market.
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