Global functional proteins market is expected to reach USD 7.98 Billion by 2026, at a CAGR of 6.93% from 2019 to 2026. Growing consumer awareness about the benefits of a healthy diet, increasing incidence of chronic diseases and technological upgradation in the functional proteins manufacturing process are driving the global functional proteins market.
Functional proteins are biochemical compounds comprising polypeptides that carry out some of the most essential biological activities. Hemoglobin, antibodies are some of the most common examples of the functional proteins. Functional proteins are beneficial in improving body health, mitigate the effect of pathogens and reduce recovery time after intestinal disorder. Thus, the growing utilization of functional protein concentrates and isolates in the food industry, and increasing demand from the emerging economies are expected to propel the market growth over the forecast period.
- The base year for the study has been considered 2018, the historic year 2016 and 2017 and, the forecast period considered is from 2019 to 2026. The global functional proteins market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) & exports (Kilotons), and price (USD/ton).
- The study delivers a comprehensive analysis of global functional proteins market by type, source, form, application and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global functional proteins market. This report incorporates the industry analysis which is focused on providing an extensive view of the functional proteins market.
- The study also includes attractiveness analysis of type, source, form, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the functional proteins market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising utilization of functional proteins in the food industry
- Technological upgradation in the functional proteins production process
- Growing consumers preference toward a healthy diet
- Growing regulations on the use of animal proteins
- Increasing instances of chronic diseases
- Growing demand from the emerging markets
- Increasing utilization in sports nutrition and infant and formula
Global Functional Proteins Market Key Findings:
All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
The global functional proteins market has been segmented on the basis of type, source, form, and application.
- The type segment is divided into hydrolysates, whey protein concentrates, whey protein isolates, casein & caseinates, soy protein, and others. The soy protein segment is anticipated to grow at an accelerated CAGR of 8.45% over the forecast period. Increasing production and processing of soybean, and easily digestible, superior fat retention capacity and higher nutritional level of soy protein are expected to drive this increased growth rate.
- The source segment includes animal source and plant source. The animal source segment led the global functional protein market with a 67.34% share of market revenue in 2018. The demand for animal protein is driven by its better nutritional and flavor profile compared to plant-derived proteins. Further, the increasing use of animal protein in end-use applications, such as sports nutrition and the limited availability of substitutes for egg and gelatin in various food products are the key market drivers.
- The form segment is categorized into dry and liquid. The liquid form segment is projected to grow at the highest CAGR of 8.95% over the forecast period. The growing use of liquid form functional proteins in the production of dietary protein-based juices and functional beverages are the primary propelling factor for this increased demand.
- The application segment is fragmented into functional foods, functional beverages, dietary supplements, and animal nutrition. The dietary supplements segment dominated the market with a 39.89% share of market revenue in 2018. Growing consumption of different types of functional dietary protein supplements among consumers of all ages is fuelling the growth of the dietary supplements segment.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region emerged as the largest market for the functional proteins with a 39.98% share of market revenue in 2018.
- Growing urban population, hectic lifestyle and rising disposable income and growing prevalence of chronic ailments are leading to an increased demand for the dietary supplements in the Asia Pacific region. Thus, the easy availability of raw materials and wide consumer base led the Asia Pacific region to dominate the global market in 2018.
- The North America region is expected to grow at a robust pace owing to its rising awareness pertaining functional foods and increasing demand for the products with reduced calorie level and high nutritional content.
Global Functional Proteins Market Competitive Analysis:
Key players in the global functional proteins market are Archer Daniels Midland Company, Koninklijke DSM N.V., Cargill, Incorporated, BASF SE, Ingredion Incorporated, Roquette Frères, SunOpta, Darling Ingredients Inc., Omega Protein Corporation, DowDuPont Inc., Kemin Industries, Inc., InVivo , John Pointon & Sons Ltd., Fonterra Co-Operative Group, Arla Foods, Kerry Group, Glanbia PLC, APC Inc., Saputo Ingredients, Friesland Campina, and among others. Sports nutrition products segment is generating an accelerated demand for the functional proteins. Major players are focusing on launching new and innovative products. For instance, in 2019, Arla Foods Ingredients released a 100 percent whey protein hydrolysate solution specifically developed for sparkling protein water formulations.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global functional proteins market on the basis of below-mentioned segments:
Global Functional Proteins Market by Type:
- Whey Protein Concentrates
- Whey Protein Isolates
- Casein & Caseinates
- Soy Protein
Global Functional Proteins Market by Source:
- Animal Source
- Plant Source
Global Functional Proteins Market by Form:
Global Functional Proteins Market by Application:
- Functional Foods
- Functional Beverages
- Dietary Supplements
- Animal Nutrition
Global Functional Proteins Market by Region:
- North America
- South America
- Middle East and Africa