The rising consumption of protein as a part of a workout-based diet is expected to fuel its demand over the next couple of years, states Transparency Market Research (TMR) in a report. The report is titled, “Proteins Ingredients Market (Source - Animal Protein Ingredients (Gelatin, Egg Protein, and Dairy Protein) and Plant Protein Ingredients (Soy Protein, Wheat Protein, and Pea Protein); Applications - Health Supplements, Food and Beverages, Pharmaceuticals, and Cosmetic Products) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023.”
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According to the report, the burgeoning consumer awareness regarding the consumption of a healthy diet is the primary factor behind the growth of the global protein ingredients market. The nutritional value of protein ingredients is significantly high and thus it is used as the core ingredient in several functional and convenience foods. The consumption of protein ingredients has also increased owing to the initiatives taken up by the health and wellness industry in numerous countries. Furthermore, manufacturers of protein ingredients can gain from the rising application of protein ingredients in the pharmaceuticals and cosmetics industries.
The study states that the proliferating use of protein ingredients in the food and beverages industry is likely to augment the global protein ingredients market. Additionally, the mounting intake of calories among consumers is lifting the demand for nutraceuticals and other varieties of wellness products. The revenue generation capacity of the global protein ingredients market is gaining momentum due to the rising popularity of protein ingredients in wellness and food and beverages industries.
The global protein ingredients market is also likely to be driven by ongoing technological developments in the industry, the progress of the functional beverages market, and the mounting demand for improved healthcare and personal care products. Manufacturers can expect growth prospects from the rising applications of plant and dairy proteins. However, the implementation of stringent regulations against the use of animal proteins is likely to act as a hindrance in the growth of the global protein ingredients market. Negative consumer attitude towards safety and health issues is expected to further adversely impact the sales of protein ingredients globally.
The report presents an in-depth analysis of the growth trajectory of the global protein ingredients market. It highlights the factors that are likely to drive or restraint the growth of the market. The study also projects revenue and volume growth of the market. It also assesses the key strategies, shares, and products of the leading companies operating in the global protein ingredients market.
Geographically, North America dominated the market and is likely to retain a lead over the forthcoming years. The demand for protein ingredients is anticipated to rise owing to the awareness among consumers regarding the consumption of modern proteins. A few of the leading companies in the market are Maple Island Inc., BEECHNUT, Davisco Foods International Inc., STERLIN GELATIN, Hostess Brands Inc., Abbott Nutrition, Nellson Nutraceutical LLC, Dean Foods, Nestle S.A., PepsiCo Inc., and Unilever.
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