Protein ingredients act asa positive contribution in the sectors of food and beverages and feed. They offer healthy substitutes to other sectors, such as personal care and cosmetics and pharmaceuticals. The protein ingredients market is directly affected by rising demand for nourishingfood. Augmented demand for nourishing food boosting the utilization of cattle products and amplified demand for medical and personal products are also predicted to steer the sales of the market.
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However, harsh governmental policies with regard to certain unprocessed materials and outlook of clients towards safety and health issues are likely to slow down the progress of the protein ingredients market. The worldwide market is anticipated to experience considerable expansion in the future. This is due to increased health consciousness among clients and intensified use of protein ingredients in cosmetic and personal care products. One of the significant propellers of the market includes robust scientific indication favoring health advantages.
Volatile costs of protein ingredients are estimated to negatively affect the protein ingredients market. Low consciousness of non-soy products among clients and varying costs of soybean are predicted to be the vital difficulties faced by the market. Quick expansion in the sector of food and beverages, mainly in Asia Pacific is also projected to drive the demand for the protein ingredients market. Rising domestic need for food and beverages in the developing regions of BRICS is also likely to further the market.
Moreover, growing population, increased disposable incomes and augmented industrialization in the Middle East are predicted to endorse the sector of food and beverages during the forecast period. This is likely to drive the sales of the market. The worldwide protein ingredients market is fragmented in view of three categories. These are applications, products and geographies.
Food and beverages captured the biggest share in 2013. This sector is estimated to lead the protein ingredients market during the forecast period. It is on account of augmented inhabitants, altering living standards and growing restaurants and cafes in China and India. Applications in infant formula made up for around 20 percent of the protein ingredients market. They are projected to drop shares by the end of 2020.
The protein ingredients market is segmented on the basis of products into animals/dairy and plants. Plants occupied in excess of 40 percent of the market in 2013. Rising demand for plants owes to worldwide acceptabilityof plant proteins instead of animal ones and low cost features.
North America was the biggest protein ingredients market. The region made up for nearly 40 percent of the worldwide market. It is estimated to augment further at a pace below average. This is as a consequence of growth in the sector of food and beverages. The European market was the second biggest on account of growing approval of feed and food complements in the region. The Asian Pacific protein ingredients market is likely to gain imperative shares by 2020. This is due to the expanding industry of animal feed as a subsequence of rising aquaculture in China and India.
Information Source: Grand View Research