The global functional proteins market size is expected to reach US$ 10.9 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 6.3% CAGR between 2019 and 2029. According to the report, the global functional protein market is driven by increased consumer awareness of the benefits of a balanced diet, increased incidence of chronic diseases and technological advancements in the functional protein manufacturing process. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the functional proteins market. Some of these are:
- The estimated value of the market was at US$ 10.9 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- The Asia Pacific region emerged as the largest market for the functional proteins.
- The North America region is expected to grow at a robust pace owing to its rising awareness pertaining to functional foods and increasing demand for the products with reduced calorie level and high nutritional content.
- Gaining popularity of sports nutrition functional foods and dietary supplements among working professionals is expected to increase the consumption of protein-enriched foods.
- Investments and expansions in the region have driven the growth of the Asia Pacific functional proteins market.
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“Growing demand for nutraceuticals due to increased understanding of maintaining a balanced diet and improving human body nutritional value is expected to remain a key driving force in the near future,” said a lead analyst at FMI.
Demand for Functional Proteins in Dietary Supplements to Rise Amidst Coronavirus Outbreak
As a result of the spread of coronavirus, consumers are likely to become more careful about their health and wellness. The spread of various lifestyle disease and improving public perception of wellness will aid the expansion of functional proteins market.
Dietary supplements such as whey protein concentrate provide added benefits such as fat loss, stress reduction, and reduced cravings, thereby boosting the functional protein market development. It is anticipated that the production by manufacturers of various types of protein ingredients such as concentrates and isolates for food products such as meat, beverages, dietary supplements, infant formula, bakery, confectionery and other food products will drive the growth of the functional protein market. Also, the shifting trend of consumers toward health and wellness is another significant driver for the global functional proteins market.
Who is Winning?
Some of the leading players operating in the functional proteins market are Kerry Group PLC, Glanbia PLC, Arla Foods, Fonterra Co-Operative Group, Koninkijke DSM N.V., Archer Daniel Midland Company, Frieslandcampina, Saputo Ingredients, APC Inc., AMCO Proteins, Abbott Nutrition, Real Dairy Australia Pty Ltd, Cargill, Inc., Hilmar Ingredients, Gelita AG, Axiom Foods, Inc., Beneo GmbH, Sachsenmilch Leppersdorf GmbH, Devansoy Inc., World Food Processing, Milk Specialties Global, Havero Hoogwegt, Barentz, Armor Proteines, Carbery Group among others.
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The global market for functional proteins is driven by various active players. The major players have used several strategies such as new product launches, expansions, joint ventures, partnerships, acquisitions, and others to increase the market growth.
Get Valuable Insights into Functional Proteins Market
Future Market Insights, in its new report, presents an unbiased analysis of the global functional proteins market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. The global functional protein market has been segmented by product type which includes protein hydrolysates, protein concentrates, protein isolates and casein and caseinates. Based on the source, the market is segmented into animal and plant. Based on the application, the market is segmented into food and beverages, dietary supplements and others. The food and beverage sector is further divided into bakery and confectionery, infant formula, beverage, and dairy. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA
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.