The global Bio-active Peptide market is poised for substantial growth, with projections indicating a rise from US$ 2,508.3 million in 2023 to a noteworthy US$ 4,191.8 million by 2033. This forecast is underpinned by a robust compound annual growth rate (CAGR) of 5.3% during the projection period.
Factors and Trends Shaping the Market
The markets upward trajectory is attributed to several factors and trends. The aging global population, coupled with an escalating incidence of chronic diseases, is driving the demand for bio-active proteins and peptides. Furthermore, a growing preference for these compounds in cosmetics and personal care products is expected to further boost the global market.
Rising disposable income and an increase in per capita food expenditure also play pivotal roles in propelling the markets growth over the next decade. However, manufacturers face challenges due to stringent regulations, leading to elevated operational costs and supply chain issues in the global bio-active protein and peptides market.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2033 - By Product Type, Application, End-user, and Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa): https://www.persistencemarketresearch.com/market-research/bio-active-protein-and-peptides-market.asp
Anticipated Trends in the Market
The market is poised to witness notable trends in the coming years. Plant-source ingredients are projected to gain traction, with manufacturers focusing on producing easily digestible proteins using advanced technologies.
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Segment Analysis
The global bio-active protein and peptides market is segmented by source and application:
By Source:
By Application:
The Plant Source segment is expected to hold a market value share of 45% by the end of 2016 and is projected to experience high year-on-year (Y-o-Y) growth throughout the forecast period. Plant source bio-active proteins and peptides, such as soy and pea, are gaining prominence due to the increasing consumer preference for meat-free diets. Additionally, plant source bio-active proteins and peptides are generally 20%-30% less costly than their animal-source counterparts, making them widely accepted by manufacturers for the ease of the extraction process.
Due to the increasing physiological benefits and consumer preference for vegetarian food, the plant source segment is expected to dominate the market in terms of revenue growth during the forecast period.
By application, the Functional Food segment is anticipated to be the most favored, although the Functional Beverages segment is expected to gain higher traction by the end of 2019. The Functional Beverages segment is projected to register high Y-o-Y growth, with a CAGR of 8.3% during the forecast period.
Regional Analysis
The global bio-active protein and peptides market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific Excluding Japan, Japan, and the Middle East & Africa. North America leads the global market and is expected to represent an incremental $ opportunity of US$ 16.8 billion between 2016 and 2026.
North Americas bio-active protein and peptides market is rapidly growing, driven by the increasing demand for sports and nutritional food. Consumers in North America are highly focused on health and wellness, leading to a surge in demand for ready-to-eat and ready-to-drink food and beverages. This trend provides ample scope for manufacturers to develop products catering to the functional food and beverages segment.
Key Market Players
Top companies operating in the global bio-active protein and peptides market include Archer Daniels Midland Company (ADM), Kerry Group, Cargill Inc., Omega Protein Corporation, Bunge Ltd., E.I. Du Pont De Nemours and Company, Fonterra Co-operative Group Ltd., Royal DSM, and CHS Inc.
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COMTEX_447426961/2840/2024-02-07T01:10:32