Food & Beverage News: F&B Specials - Global protein ingredients market to cross $18 billion by 2010

Increasing awareness among consumers regarding the adverse health effects of animal proteins is rapidly leading to a transition towards healthier plant and milk proteins. The transition is being particularly spurred by rising incidences of BSE disease in animals.

The global protein ingredients market is growing at a healthy pace, mainly due to an increasingly health conscious population coupled with rising income levels. The market is projected to cross US$18 billion by the year 2010.

San Jose, California (PRWEB) February 26, 2008 -- Consumption of plant proteins is increasingly gaining momentum in the protein ingredients market, primarily due to the scientific advances and to a large extent, changing perceptions of the growing health conscious population. In particular, soy proteins are finding applications in several food products. The phenomenal growth rates in the soy protein market are attributed to the US government ruling favoring the health claims made for soy protein and extensive market promotional activities for soy. Increase in aged population represents another major driver for improving soy protein sales. Aging population influences the commercial viability of soy products and depicts increased concern for major disorders such as heart diseases, primarily common between 35 and 54 years of age. Additionally, substitution of less expensive plant protein ingredients for animal proteins in myriad areas of food manufacturing is boosting the soy protein market. The growing demand for nutraceuticals and ready meals, and the emergence of markets such as sport nutrition and dietary supplements are also projected to propel the demand for cheap sources of proteins such as soy.

Europe is the largest protein ingredients market in the world and is projected to reach US$10 billion by the year 2010, as stated by Global Industry Analysts, Inc. United States is the fastest growing market for protein ingredients and is projected to expand at a CAGR of 7.6%. Most of the world's soybeans output is consumed for animal feed and producing vegetable oil. However, human consumption of soybeans for food is experiencing an increase with Asia being the largest consumer for soy flour, soy protein concentrates and isolated soy proteins. Apart from Asia, the western world has also increased soybeans consumption and is likely to establish new market value for soybeans in coming years. Animal protein ingredients market accounts for a whopping 69% share of the total protein ingredients market. Plant protein ingredients market is the faster growing segment in the global protein ingredients market, with a projected CAGR of about 8% over the next five years.

Protein Ingredients: A Global Strategic Business Report
Milk protein concentrates (MPCs) are rapidly replacing dairy products such as skim milk powder due to their low cost and usage flexibility. MPCs are also used to produce dairy foods containing low carbohydrates and high protein content. Increasing awareness among consumers regarding the adverse health effects of animal proteins is rapidly leading to a transition towards healthier plant and milk proteins. The transition is being particularly spurred by rising incidences of BSE disease in animals. This has forced several protein ingredients producers to revise their product offerings and formulate alternative proteins to meet changing consumer's preferences.

Gelatin is the most essential food ingredient, next only to starches. Majority of gelatin, about 70%, is consumed by the food industry, while the remaining 30% is used by the pharmaceutical, photographic and other industries. However, since the outbreak of bovine spongiform encephalopathy (BSE) in 1995, the search for other gelatin alternatives has intensified. Besides, the orthodox Jews, Muslims, and a growing vegetarian population have also propelled food manufacturers to seek other gelatin alternatives.

Key players dominating the global protein ingredients market include Archer Daniels Midland, Armor Proteins, Bunge Alimentos SA, Burcon NutraScience, Cargill Health & Food Technologies, Dean Foods Company, Gelita Group, Doves Farm Foods, DuPont Agriculture & Nutrition, George Weston Foods, Kellogg Company, Kerry Ingredients Inc., Kraft Foods, Manildra Group, MGP Ingredients, Omega Protein Corporation, So Good International, Sonac BV, Sterling Gelatin, Tessenderlo Group, and Wacker Chemical Corporation.

The report titled "Protein Ingredients: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, industry overview, pricing, product overview, end-use applications, regulatory environment, research & development, technological trends, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in value sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World by the following product segments - Animal Protein Ingredients (Fish, Meat, Milk, Egg, and Gelatin), and Plant Protein Ingredients (Soy and Gluten).
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