Over Half of Hexane-free Protein Sales Concentrates in Sports and Nutrition Sector: Study

Apr 29,2021 | Food and Beverage

Vegetarianism has become increasingly common in recent years around the world. This development is likely to have an effect on demand for plant-based products including plant-based proteins, such as hexane-free protein, finds Future Market Insights (FMI) in a new study.

Hexane Free Proteins Market

A recent market study published by Future Market Insights on the Hexane-free Protein marke...

Hexane Free Proteins Market

Due to the growing vegan movement, plant protein has become a substitute for other proteins such as animal proteins, egg protein, and others. As people consciously follow more humane and sustainable lifestyles, the number of vegans around the world has risen significantly. The demand for natural and vegan products has increased as a result of this trend. This also had a positive impact on the hexane free protein market, enabling it to reach a valuation of US$ 102.9 Mn by 2021.

Driven by increasing focus on health and wellness, the demand in the energy and sports nutrition industry is expected to rise. It is in fact predicted to remain the dominant end user, accounting for over half of the sales in the global market.

North America Continues Favoring Expansion

Domestic botanical food producers in the U.S. and Canada face less stringent regulatory requirements. Although the FDA has described the term "botanicals," and it does not control their production in the United States. Manufacturers have also opened domestic outlets for the selling of botanicals and botanical foods in Canada. These developments are considered crucial for growth of hexane-free protein market in North America.

Key Takeaways from the Hexane-free Protein Market Study:

  • Rising focus on health and wellness will drive growth in the global hexane-free protein market at 9.6% CAGR
  • The consumers in the U.S. are exhibiting high focus on health and wellness. This has sealed America’s dominance. The U.S. is expected to account for over 80% of sales in North America
  • The expansion of the food and beverages sector will enable the U.K. market register a little below 10% y-o-y growth in 2021
  • While Germany is forecast to dominate hexane-free protein sales in Europe, the Spain market will register a higher rate of growth
  • China will account for over half of sales registered in East Asia, as consumers increasingly look for plant-based protein alternatives

 “Manufacturers are interested in creating awareness, clinical trials, and affecting change in the global food supply by introducing cutting-edge technology. They are achieving it by demonstrating that animals are no longer needed to develop muscle, hexane-free protein manufacturers add compassion to the food industry. Rice and peas are becoming the new beef, and the business is at the forefront of this trend.” Said a lead analyst at FMI

Plant-based Products Gaining Popularity

People nowadays are more likely to consume vegan goods. According to the SPINS survey, plant-based food retail sales in the United States increased by 11.4 percent to $5 billion last year. People are avoiding using animal products as a result of growing concerns about personal health and animal welfare. Companies must mark their products according to strict criteria and organic standards.

Organic food products, for example, must be labeled if they are 100 % approved or contain only organic ingredients. Consumers seeking goods with various health and nutritional benefits will be satisfied by the availability of this information. Furthermore, the growing number of private label brands and high marketing and advertising expenditures for organic goods invoke a sense of legitimacy to purchase the product, as customers are increasingly willing to pay more for premium or natural products with high nutritional content.

Who is winning?

Some of the leading companies offering Hexane-free Protein are Axiom Foods, Inc., Nutiva Inc., Now Health Group Inc., ABF Ingredients, Ingredion Inc., Cargill Inc., New Protein Global Inc., Milk Specialties Global, Merit Functional Foods, and others

To meet a large customer base, hexane-free protein manufacturers are focusing on selling goods through various online retailers. Food and beverage goods must meet the quality expectations of consumers and comply with regulations since they are often perishable.

Get Valuable Insights into Hexane-free Protein Market

Future Market Insights, in its new offering, provides an unbiased analysis of the Hexane-free Protein market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the hexane-free protein market based on product type (Isolate, Concentrate, and Flour), by form ( Powder, and Liquid), and by end use (Beverages, Cosmetics & Personal Care, Breakfast Cereals & Cereal Bars, Energy & Sports Nutrition, Bakery Products, Dairy Products and others) across seven major regions.

Summary

In the last five years, vegetarian food products have made a strong breakthrough in the European market, and vegetarian products, as well as improvements in consumer preferences, have fueled demand for hexane-free protein in Europe. Consumers are becoming more aware of the health benefits of consuming hexane-free protein products. In comparison to other regions, North America and Europe have a high concentration of hexane-free protein players, including international, regional, and local players. Furthermore, players are diversifying their product portfolios by extending their global operations to new regions and bolstering their distribution networks.

About Food Market Division at FMI

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.