The protein market continues to present strong growth opportunities for the food industry. Projections suggest that the worldwide market for protein ingredients is set to grow to over 114 billion U.S. dollars by 2030, increasing massively from the 2021 figure of about 72 billion U.S. dollars. In 2020, Tyson food, Inc. was among the leading protein food companies worldwide. Sales of protein food products of Tyson Foods amounted to about 42.61 billion U.S. dollars that year.
Protein product varieties
The different protein sources available are as equally diverse as the variety of people demanding these protein products. Of course, different protein products provide different benefits, and the growth of each protein source provides some indication of the primary market drivers. Whey protein, for example, is a key source of protein for body-building and gym-exercise targeted protein products. It is one of the most popular proteins as it can more easily be absorbed by the human body. This market is responsible for a large part of the projected plant-based protein market growth with the whey protein market set to grow to 18.12 billion U.S. dollars in value by 2029.
The dominance of exercise-focused consumers over vegetarians in the industry is clearly outlined by the sales value of whey protein products. Additionally, over 60 percent of consumers in the United States said they generally try to consume protein, but generational differences remain. More than two-thirds of Baby Boomers (70 percent) reported willingness to consume proteins, compared to 55 percent Millennials and 58 percent of respondents in Generation X. Protein consumption in the United States, like many other things in 2020, was impacted by the COVID-19 pandemic. Almost a quarter of consumers reported that they were eating less meat than usual, while another quarter claimed that they were eating more plant-based protein than normal. Though no matter their intake method of choice, many consumers believe that protein products are the least likely to cause weight gain. In the future, protein products will remain an important part of the diets of American consumers, whether they are more focused on their dietary intake or fitness.
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In the following 4 chapters, you will quickly find the 20 most important statistics relating to "Protein market".