Updated Jan 8, 2023 19:07

Market for Protein Concentrate and Flavoured or Coloured Sugar Syrup in the United States

Market Overview
The U.S. market for protein concentrates and flavoured or coloured sugar syrups stood at $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated buoyant growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. Over the period under review, the market attained the peak level in and is expected to retain growth in the immediate term.

In value terms, production of protein concentrates and flavoured or coloured sugar syrups declined slightly to $ in . In general, the total production indicated a strong expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by +% against indices. The pace of growth was the most pronounced in 2013 with an increase of % against the previous year. Production of peaked at $ in 2018; however, from 2019 to , production remained at a lower figure.


Consumption
In , consumption of protein concentrates and flavoured or coloured sugar syrups increased by % to tons, rising for the second year in a row after two years of decline. The total consumption volume increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at tons in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.

The revenue of the market for protein concentrates and flavoured or coloured sugar syrups in the United States rose notably to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a prominent increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. Over the period under review, the market reached the peak level in and is likely to continue growth in years to come.


Market Forecast
Driven by increasing demand for protein concentrate and flavoured or coloured sugar syrup in the United States, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Driven by a growing demand, the share of imports in total supply in the United States increased significantly over the last fifteen years (from % to %). Total import supply of protein concentrate and flavoured or coloured sugar syrup is expected to rise, though it will be moderately impacted by price increases. Over the period under review, the share of imports in terms of total protein concentrate and flavoured or coloured sugar syrup consumption in the United States was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the the United States protein concentrate and flavoured or coloured sugar syrup market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
The United States remains a net exporter of protein concentrate and flavoured or coloured sugar syrup; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.