Selbyville, Delaware, July 11, 2022 (GLOBE NEWSWIRE) — As per the report published by Global Market Insights Inc., the Antimicrobial Protein Hydrolysates Market for Food & Pet Food Applications was estimated at USD 194.5 million in 2021 and is estimated to reach a valuation of over $363.5 million by 2028, progressing at a CAGR of 9% from 2022 to 2028. The report provides a detailed analysis of wavering market trends, market size & estimates, top winning strategies, major investment pockets, drivers & opportunities, and competitive scenario.
Enzymatic protein hydrolysates are widely used as functional or nutraceutical foods. Protein hydrolysates made from micro-organisms deliver various advantages, such as lower water consumption, higher growth rate, and carbon-neutral compounds. Notably, plant-based proteins are known to provide emulsification, solubility, and foam & gel formation ability while animal-based proteins offer higher ACE-inhibitory activity & radical scavenging capacity, and antimicrobial & antioxidant properties. These factors are increasing the utilization of enzymatic protein hydrolysates across varied applications, which is likely to bolster the antimicrobial protein hydrolysates market share for food & pet food applications over the forecast period.
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Enzymatic protein hydrolysates paste facilitates easy digestibility and rapid absorption of proteins in the body, and thus, finds extensive usage in food supplements. Soaring demand for affordable, nutrient-dense & sustainable pet food would increase product demand in the coming years. Because of these factors, the paste form segment is anticipated to observe sizable growth to exceed $40 million in revenue by 2028.
Meanwhile, the pet food application segment registered around $123.5 million valuation in 2021 and is poised to grow at a CAGR of over 8.5% over the assessment period. Rise in occurrences of allergies and digestive disorders in pets is projected to raise product demand in pet food applications in the upcoming period.
Key reasons for antimicrobial protein hydrolysates market growth:
- Increasing product adoption in pet food applications.
- Rising uptake of algae as an alternative protein source.
- Growing product usage in paste form in food supplements.
2028 forecasts show the ‘algae’ segment retaining its dominance:
From the source perspective, the antimicrobial protein hydrolysates market for food & pet food applications from the algae micro-organisms segment reached a valuation of more than $4 million in 2021 and is contemplated to progress at a CAGR of roughly 10% through the review period. An upsurge in the commercial production of microalgae and mounting consumer preference for microalgae as an alternative protein source to fulfill dietary requirements to cater to the expanding population are speculated to accelerate segmental growth.
Asia Pacific to continue its top status in terms of revenue:
In the regional landscape, in 2021, the Asia Pacific antimicrobial (enzymatic) protein hydrolysates market for food & pet food applications was valued at nearly $31.5 million and is foreseen to progress at approximately 10% CAGR over the analysis timespan. This growth is attributed to emerging consumer demand for functional foods and healthy beverages, increasing significance of health & fitness among consumers, and escalating consumption of protein-rich diets.
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Impact of COVID-19 pandemic on antimicrobial (enzymatic) protein hydrolysates market for food & pet food applications:
The initial phases of COVID-19 adversely impact the industry. Due to stringent lockdowns and restrictions on movement, manufacturers experienced delays in business operations, which impeded revenue growth. However, mounting consumer interest in protein-rich foods, booming pet ownership, rise in disposable income, and rigorous research & development activities in the field of protein hydrolysates have helped the market regain its pre-pandemic growth in recent years.
Leading market players:
Major companies in the antimicrobial (enzymatic) protein hydrolysates industry for food & pet food applications are Symrise, Kerry Group, BRF Ingredients, Kemin Industries Inc., Cargill, and others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, US, is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.