NEW YORK, Oct. 27, 2015 /PRNewswire/ -- Food & beverage, animal feed, cosmetics & personal care product, and the pharmaceutical have witnessed tremendous growth over the years owing to growing level of demand from end users for nutritional and health benefiting products. This has substantially benefited the protein ingredients industry, as an upsurge in the demand was witnessed. New technologies have initiated the emergence of innovative usages of protein ingredients. The developing countries present a viable market for the manufacturers as these regions are emerging as potential markets with the availability of raw materials. The rise in disposable income of the growing middle-class population in developing countries is also creating demand for a broad range of products from different industries.
To maintain a competitive edge in the protein ingredients market and to expand their geographical reach, the key players were observed to prefer expansion as a strategy to penetrate new and untapped markets. Acquisition of local players and building a new customer base for long-term client relationships was another major strategy adopted by the industry players. This has not only enabled the key players to expand their geographical reach, but has also reinforced their market position by gaining a larger share in terms of revenues and product portfolios. Small-scale players have also adopted this strategy to expand their businesses globally, by investing in the establishment of manufacturing facilities and technical service centers in various regions. This inorganic growth strategy is an important proposition for the smaller companies, enabling them to increase their technical expertise through intensive R&D infrastructure offered by the bigger players.
Leading players such as Archer Daniels Midland Company (U.S.), Kerry Group plc (Ireland), Cargill, Incorporated (U.S.), and E. I. du Pont de Nemours and Company (U.S.) have been profiled in the report. Other prominent companies in the market are Omega Protein Corporation (U.S.), Arla Foods (Denmark), Amco Proteins (U.S.), Fonterra Co-Operative Group LTD (New Zealand)), Gelita AG (Germany), Hilmar Ingredients (U.S.), and Kewpie Corporation (Japan). These key players were also observed to prefer new product launches to gain a larger share in the market.
The report provides a complete analysis of the key companies and a chronology of developments with respect to new products and their applications; it also analyzes the market dynamics. The report also highlights key market drivers and restraints for the key regions of the world.
North America led the market for protein ingredients in 2014, closely followed by Europe. This is attributed to the high level of consumption of protein ingredients in various end-use industries including food & beverage, animal feed, cosmetics & personal care, and pharmaceutical. The Asia-Pacific and RoW regions are estimated to grow at a higher rate as compared to the matured markets of developed economies.
SCOPE OF THE REPORT
This study categorizes the protein ingredients market on the basis of source of ingredients and their applications. The regional analysis is further extended with projections of the market size of their key contributing countries.
On the basis of key source, the market was segmented as follows:
- Animal source
o Dairy protein
? Milk protein concentrates
? Whey protein
o Egg protein
- Plant source
o Soy protein
? Soy protein isolates
? Soy protein concentrates
? Texture soy protein
o Wheat protein
o Vegetable protein
? Pea protein
? Other vegetable proteins
On the basis of key applications, the market was segmented as follows:
- Food & beverage
- Animal feed
- Cosmetics & personal care
On the basis of key regions, the market was segmented as follows:
- North America
- Rest of the World
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