Rising consumer demand is driving growth in health-minded food and beverages, ingredients.
That’s the value the global protein ingredients market is forecast to reach by 2025, headed upward at a compound annual growth rate (CAGR) of 7.4%. Animal-type proteins boast a significantly larger share than plant proteins, accounting for 72.3% of the market in 2016. One of the key drivers for the growth of animal proteins, including whey proteins, is strong scientific evidence supporting the health benefits of such products.
Source: “Protein Ingredients Market Size, Share & Trends Analysis Report by Product, by Application, and Segment Forecast, 2014-2025,” February 2018, Grand View Research, San Francisco.
Kids drive healthful purchases
Parents are “significantly more likely than average” to seek out food and beverages that have specific inherent health qualities such as being all natural, non-GMO or organic.
Source: “Kids Food and Beverage Market in the U.S., 9th edition,” January 2018, Packaged Facts division of MarketResearch.com, Rockville, Md.
More than three-quarters (76%) of surveyed U.S. and European consumers said they are conscious of their health, while 69% said they prefer to eat healthful foods over cheap foods for their morning meal. But convenience rules: One in four surveyed consumers spends less than five minutes per day preparing and eating breakfast as a result of “increasingly busy schedules.”
Source: “DSM Breakfast Report Part One: What we’re eating to start the day,” February 2018, DSM Food Specialties, The Netherlands.
That’s the value the global nutraceutical ingredients market is projected to reach by 2023, growing at a CAGR of 7.5%. Growth drivers include growing health consciousness and increased life expectancy among consumers and an increase in chronic diseases, as well as expanding applications for nutraceutical ingredients and emerging technologies in food processing that upgrade food products’ nutritional benefits.
Source: “Nutraceutical Ingredients Market — Global Forecast to 2023,” February 2018, MarketsandMarkets Inc., Pune, India.