Consumer interest in all things protein isn’t showing signs of slowing down. In fact, the global protein ingredients market is expected to reach $48.8 billion by 2025, according to a 2019 report from San Francisco-based Grand View Research. The market is expected to expand at a compound annual growth rate (CAGR) of 7.5% between 2019 and 2025, with rising demand for nutrient-rich food expected to propel the demand.
Growing health awareness among consumers is likely to boost both the plant and dairy protein ingredients markets, the company said. It also noted that:
- Animal proteins lead the global protein ingredients market, accounting for more than a 73% market share in terms of revenue in 2018.
- The soy protein concentrate market is predicted to be the largest product segment by 2025. It is also expected to be the highest revenue-generating segment, constituting a 34.9% market share in 2018.
- North America is the largest regional segment, accounting for 34.2% of the total market share in terms of revenue, and is expected to expand at a CAGR of 7.1% between 2019 and 2025.
For more information, visit https://www.grandviewresearch.com/industry-analysis/protein-ingredients-market.