Protein Hydrolysate Ingredients MarketSize and Trends
Global protein hydrolysate ingredients market was valued at US$ 4275.2 Million in 2021, in terms of revenue, exhibiting a CAGR of 7.09% during the forecast period (2022 to 2030).
Figure 1. Global Protein Hydrolysate Ingredients Market Value Share (%), By Region, 2021
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Market Trends - Product innovation by the manufacturer is a major trend in the market and this trend is expected to augment the market growth of the protein hydrolysate. For instance, in May 2020, Marfrig, producer of hamburgers and one of the largest bovine protein companies and ADM, a global leader in human and animal nutrition announced Plantplus foods, a joint venture that will provide clients in North and South America with plant-based goods.
- An increasing number of online shopping stores has increased the product visibility and ultimately sales of the product, this is expected to accelerate the market growth of the protein hydrolysates. According to the U.S. Department of Commerce quarterly ecommerce figures, consumers spent $601.75 billion online with U.S. merchants in 2019, up 14.9% from $523.64 billion the prior year. Thus growing online retail industry is expected to foster the market growth of the protein hydrolysate.