The Global Protein Market to Worth $624.82 Billion By 2028, Watch Out Huge Investment Opportunities Across APAC - Arizton
Arizton is pleased to announce its latest report, protein market - global outlook & forecast 2023-2028, shedding light on the dynamic and rapidly evolving industry. The comprehensive report unveils valuable market trends, growth opportunities, and a competitive business landscape. With in-depth analysis and meticulous research, this report serves as a strategic guide for industry players, investors, and decision-makers, offering a comprehensive understanding of the current protein market dynamics and future prospects.
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The global protein market will reach USD 624.82 billion by 2028, growing at a CAGR of 5.62% from 2022-2028. Browse 157 market data tables, and 113 figures spread through 268 pages and in-depth TOC on protein market Report by Source (Plant-based (Soy, Wheat, Pea, and Others), Meat, Eggs & Dairy, Aquaculture & Fisheries, and Non-traditional), Application (Food & Beverages, Animal Feed, Personal Care & Cosmetics, Supplements, and Pharmaceuticals) and Geography (North America, Europe, APAC, Latin America, and Middle East & Africa).
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The global protein market has seen impressive growth in recent years and is projected to grow rapidly in the coming years. An increase in consumer demand for high-quality, nutrient-dense foods drives this growth. The key players in the global protein market are ADM, Cargill, FrieslandCampina, International Flavors & Fragrances, and Fonterra Co-operative Group. In addition to industry strategies, government regulations play a pivotal role in determining the market’s competitive dynamics. Government regulations also significantly impact the animal protein industry, one of the most heavily regulated sectors in the food industry.
APAC, the Middle East & Africa, and Europe are well-developed regions of the global protein market. The protein market is expanding because of rising economic development and consumer awareness. On the other hand, North America and Latin America are promising marketplaces that aid producers in diversifying their product lines and boosting sales. The global industry will likely continue to change to suit the requirements of a population that is constantly expanding and becoming more varied. The protein production industry is driven by rising technological advancements and a growing number of health-conscious consumers. Protein sources can also be simpler to digest, giving athletes and fitness enthusiasts extra strength and endurance.
APAC Dominates Protein Market with Largest Share and Rapid Growth Rate
The APAC protein market accounts for 54.78% of the global market share. Increasing consumer interest in a healthy lifestyle and rising disposable income are the key factors driving the demand for protein products in the region. Also, there is a growing demand for products containing natural and organic certified ingredients and high demand for certain food ingredients having health benefits such as nuts, vitamins, and minerals. Furthermore, the protein market in the region is witnessing growth in 2022 due to increasing consumer health awareness.
APAC is one of the key emerging markets for protein globally. The economic development in emerging economies and the surge in population growth have resulted in rising demand for protein in the region. Consumers in the region are becoming more inclined towards plant-based protein due to its ease of digestibility, sustainable source, high nutritional value, and non-allergic application in supplements to meet the growing demand for protein.
Non- Traditional Market is Expected to Boom Across APAC Region
Non-tradition market to grow at a CAGR of 6.1% during 2022-2028. The non-traditional segment includes insects, micro-algae, and lab-grown meat. Insect proteins are quality feedstock taken from insects that can be used as an ingredient for feed for pets, animals, and fish. Not only in APAC, but the market for the non-traditional segment is also capturing huge opportunities across the globe, the sale is expected to reach 4.52 million tonnes in 2028.
The market for suitable new protein sources is expanding quickly because of the growing world population and developing environmental sustainability concerns. Conventional farming practices won't be sufficient during the coming decades to supply the predicted demand for food in terms of protein. Insects provide an alternative source of nutrition. Different insects are advised for inclusion in diets depending on which species are fed with the insect proteins produced from edible insects. Extracting protein and amino acids from farmed insects is more effective and environmentally friendly. Technology for processing insect proteins sparked the shift to new protein sources. Therefore, the demand for the non-traditional segment is expanding rapidly across APAC and other regions.
Key Company Profiles: ADM, Cargill, FrieslandCampina, International Flavors & Fragrances, Fonterra Co-operative Group, Kerry, Arla Foods, Bunge, Corbion, Fuji Oil, GELITA, Glanbia, AMCO Proteins, The Scoular Company, Wilmar International, Roquette Frères, Sudzucker AG, Hilmar Cheese Company, Ingredion, Burcon, COSUCRA, A&B Ingredients
Read the Report Details: https://www.arizton.com/market-reports/protein-market
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