Global protein ingredient market to grow at CAGR of 6% during 2013-2018 period amid growing health-conscious population worldwide, according to Research and Markets report
January 28, 2014
– Research and Markets has announced the addition of the "Global Protein Ingredient Market 2014-2018" report to their offering.
The analysts forecast the Global Protein Ingredient market to grow at a CAGR of 6.03 percent over the period 2013-2018. One of the key factors contributing to this market growth is the growing global health-conscious population. The Global Protein Ingredient market has also been witnessing the growth in the Food and Beverage industry. However, the low awareness rate could pose a challenge to the growth of this market.
Key vendors dominating this space are Archer Daniels Midland Co., Cargill Inc., Kerry Group plc, and Solae LLC.
Other vendors mentioned in the report are ABF plc, Arla Foods Amba, Armor Protein S.A.S., Bioexx Specialty Proteins Ltd., Bunge Ltd., Burcon NutraScience Corp., Dean Foods Co., DMV International, Doves Farm Foods Ltd., Earth's Own Food Company Inc., Fonterra Ltd., Gelita AG, Glanbia plc, Kellogg Co., Manildra Group, MGP Ingredients Inc., Michael Foods Inc., Omega Protein Corp., Sonac BV, Tessenderlo Chemie NV, The Sandesara Group, and Wacker Chemical AG.
Commenting on the report, an analyst from the team said: The Food and Beverages industry includes a diverse set of products such as fresh, frozen, and processed foods and it is expected to grow at a CAGR of 3-5 percent during the forecast period. In particular, the growth is expected to be high in developing countries such as China, Brazil, and India. The main factors contributing to the growth of the industry are the increase in the global population, the increasing demand for healthy and nutrient-rich packaged food and beverages, and the increase in the purchasing power of the population in emerging countries. The rapid economic growth in countries such as India and Vietnam has resulted in a significant increase in the disposable income of the consumers in these countries.
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