Protein Hydrolysate Ingredients Market Expected to Account for US$ 1,500 Mn by the forecasts period 2016-2024
On the account of rising occurrences of sports-related physical injuries in the world, the need for rapid recovery will continue to be prioritised in the years to come. Presence of protein hydrolysate ingredients in sports medicine, nutritional supplements as well as baby food products will continue to gain traction in order to avert health risks caused to children and adults due to muscle strain-related injuries. A recent study developed by Future Market Insights has estimated that in 2016, over 100,000 MT of protein hydrolysate ingredients were sold through sales of such products. By the end of 2024, the global protein hydrolysate ingredients consumption is projected to reach 135,609 MT in volumes.
With respect to their forecast report, Future Market Insights predicts that the global market for protein hydrolysate ingredients, which is presently valued at an estimated US$ 3.1 billion, will expand at a robust CAGR of 6.2% to reach US$ 5.1 billion revenues by 2024-end.
Outright Preference to Milk Protein Hydrolysates
In 2016, nearly 85% of the global protein hydrolysate ingredients revenues were accounted by milk ingredients, attesting the fact that more consumers in the world prefer consuming protein hydrolysates in the form of casein, whey or other milk ingredients. The demand for meat-based protein hydrolysate ingredients will remain lower owing to a comparatively sluggish assimilation of proteins after consuming products derived from such ingredients. Meanwhile, global revenues raked in from sales of whey protein hydrolysate ingredients will be expanding at the highest CAGR of 6.7%, reaching nearly US$ 3 billion market value by the end of 2024. Over the forecast period, approximately 36,000 MT of casein protein hydrolysate ingredients will be consumed globally.
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Higher Demand for Powdered Protein Hydrolysates
Over two-third of the global protein hydrolysate ingredients market value, estimated in 2016, was accounted by sales of powder products. The demand for powder products will remain high throughout the forecast period on the grounds of soaring consumption of nutrient powders, powdered baby food products and powdered fitness supplement products across the globe. However, liquid products containing protein hydrolysate ingredients will witness an impressive growth in revenues, registering a 6.3% CAGR by 2024. And, global consumption of protein hydrolysate ingredients in the form of nutrient bars will account for sales of nearly 17,000 MT during the projected period.
Infant Formula – Lucrative Application for Protein Hydrolysate Ingredients
Over the next decade, the application of protein hydrolysates is likely to foray into the intricate biotechnology industry as several studies of hydrolysates are rendering them as a supplement for cell culture and tissue cultivation. But, production of infant formulas will remain the key application of protein hydrolysate ingredients through 2024. Reaching an estimated US$ 3.5 billion market value by 2024-end, infant formulas will outpace the sports & slimming food segment at a substantial rate. In fact, the use of protein hydrolysate ingredients in production of clinical nutrition products will amass revenues that will be much higher than those harvested through sports and slimming food applications, during the forecast period.
According to the report, titled “Protein Hydrolysate Ingredients Market: Global Industry Analysis & Opportunity Assessment, 2016-2024,” Future Market Insights estimates that North America and Europe will collectively dominate the global protein hydrolysate ingredients market by procuring more than 60% revenue share by 2024. Leading European dairy product manufacturers such as Armor Proteines (France), Glanbia Ingredients (Ireland), Carbery Group Limited (Ireland), and Arla Foods Ingredients Group (Denmark) are observed as some of the key players in the global protein hydrolysate ingredients market.
North America’s protein hydrolysate ingredients market is expected to attain robust growth on the account of presence of prominent protein hydrolysate manufacturers such as Abbot Laboratories, PGP International, Groupe Danone, Davisco Foods International, Inc., Kerry Group, and the Hilmar Cheese Company. The protein hydrolysate ingredients market in Asia-Pacific (APAC) region, on the other hand, will incur fastest growth in terms of revenues and exhibit expansion at 7.7% CAGR over the forecast period.
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