North America Protein Ingredients Market Forecast 2017-2024

North America Protein Ingredients Market Forecast 2017-2024

  • June 2017 •
  • Report ID: 4944914 •
  • Format: PDF
KEY FINDINGS
The North American protein ingredient market was calculated to be 1375.64-kilotons in 2016. It is anticipated to grow at a CAGR of 4.95% during the forecast period of 2017-2024 and reach a value of 2020.78 -kilo tons by 2024. It is a fast-growing market and is expected to give a tough fight to other regional markets during the forecast period. A shifting focus towards health benefits from dietary consumption of the protein ingredients along with a profitably strong application in the cosmetic and the food & beverages sector has led to a growing demand for the protein ingredients market.


MARKET INSIGHTS
Factors like various applications in different industries, potential demand in weight management and sports nutrition segment and a growing supply and distribution network in various regions are all proving conducive for the growth of the market. The market is segmented into three categories on the basis of feedstock, application and the form of the protein ingredient. With respect to the feedstock, soy and whey currently have the largest share in the market and with respect to the type of form, the powdered form is expected to continue its dominance over other forms such as tablets, ready to drink, and bars The protein ingredient market finds its application in various areas like confectionary, pharmaceuticals, functional foods, meat additives etc. Increasing investments by the companies involved in protein ingredients supply coupled with a rising awareness among the end-users is expected to continue the growth in demand for the protein ingredients. However, the market is facing restraints in terms of changing climates in different regions affecting the productivity, rising prices of the products and a lack of knowledge regarding the health benefits of these proteins ingredients.



COMPETITIVE INSIGHTS
The main focus of the companies in the protein ingredient market is to carve their niche in the entire value chain of the market. Hence, the protein ingredient manufacturers are also strategizing to join business with these companies in order to tap some new and unexplored markets and gain an advantage for product sales and distribution. The major players involved in this market are Crown Protein, Linyi Shansong Biological Products Co Ltd, Solae, Shandong Sinoglory Health Food Company Ltd, Nutripea, Solbar, Ltd, Harbin Hi-Tech Soybean Food Co., Ltd, and Archer Daniels Midland Company.