Increased health awareness among American consumers and a growing demand for nutraceuticals are driving market growth of protein ingredients.
The 1999 announcement by the Food and Drug Administration (FDA) that soy proteins may reduce the risk of coronary heart disease has created a rivalry between soy proteins and animal proteins.
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According to new strategic market research from Frost & Sullivan (www.frost.com), the U.S. Protein Ingredients Market generated nearly $2.0 billion in revenues in 1999. Frost & Sullivan projects revenues to reach $3.5 billion by 2006.
The FDA ruled that soy protein manufacturers can add statements to food labels claiming that soy proteins may reduce the risk of coronary heart disease. The connection between soy protein and reduced risk of coronary heart disease is well documented. More research, however, is needed to determine if soy proteins reduce the risk of other diseases such as prostate and breast cancer.
“The large body of medical research on soy protein health benefits is inconclusive,” says Frost & Sullivan industry analyst Dr. Bradley Watkins. “The soy industry is challenged with strengthening the validity of soy protein health benefits.”
The soy proteins industry has been proactive about promoting the potential health benefits of soy proteins, but the whey proteins market has been less publicized and is not as well known by the American public.
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By GlobalData“The whey proteins industry should increase market promotion efforts to educate more consumers about the possible health benefits of whey proteins,” says Dr. Watkins.
Whey protein manufacturers are seeking ways to better customize whey proteins for neutraceutical applications and emerge from behind the shadow of the more popular soy proteins.
Proteins are one of the primary ingredients used in most sports nutrition drinks, infant formulas, nutrition bars, and nutritional and dietary supplements. The growing popularity of these food applications is opening high potential growth areas for both soy and whey proteins.
Frost & Sullivan presents the 2000 Marketing Engineering Awards to companies that have worked hard to make a positive contribution to the U.S. protein ingredient industry. The Leadership Award is presented to Archer Daniels Midland (NYSE:ADM). Midwest Grain Products (NASDAQ:MWGP) receives the Product Differentiation Award. The Technology Leadership Award is given to Davisco Foods International.
Frost & Sullivan, which is headquartered in San Jose, Calif., is a global leader in international strategic market consulting and training. Frost & Sullivan’s industry experts monitor the chemicals industry for market trends, market measurements and strategies. This ongoing research is used to complement the Food & Food Ingredients & Additives Custom Subscription, which includes studies such as The U.S. Food Additives and Preservatives Market. Executive summaries and interviews are available to the press.
Along with publishing in-depth strategic market consulting research, Frost & Sullivan also provides custom consulting needs to a variety of national and international companies.
U.S. Protein Ingredients Market
Report: 7197-88 Date: September 2000 Price: $3,450
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