Functional Proteins Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Functional Proteins Market is segmented by Product Type (Protein Hydrolysates, Protein Concentrates, Protein Isolates, and Casein and Caseinates), by Source (Animal and Plant), By Application (Food and Beverage, Dietary Supplements and Others) and by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts in value terms in USD million for all above segments.

Market Snapshot

Functional Proteins Market Summary
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.65 %
Functional Proteins Market Major Players

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Market Overview

Global Functional Protein Market is projected to reach a CAGR of 7.31% during the forecast period, 2021-2026.

COVID-19's interaction with animal sources will result in a broad population opting for plant-based functional proteins over structural proteins due to numerous health and environmental issues. This encourages the development of plant-based functional proteins. Moreover, with the consumers preferring plant-based functional protein products, owing to the high protein content and enhanced nutritional benefits, such as added fibre, antioxidants, probiotics, and vitamins, manufacturers operating in this space have been compelled to cater to the increasing demand by introducing plant-based ingredients with functional benefits.

The market is driven by the shift in demand from processed food to healthy food products with improved functionalities and the development of various protein ingredients such as hydrolysates, isolates and concentrates for effective utilization in various applications such as dietary supplements and food & beverages.

On the other hand, the elderly requirement for protein is high, and thus the availability requires close attention. With age, due to the presence of anabolic resistance, protein synthesis requires higher levels of circulating amino acids, in particular essential amino acids. Furthermore, protein needs have also increased, and quality is of importance in athletes and people with intense physical activity. While considering the developing communities, vegetable protein sources are often mixed with cereals for complementary feeding to increase protein quantity in meals.

Scope of the Report

Functional Proteins are a complex mixture of biologically active proteins that help support and maintain normal immune function. 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. The report further analyses the global scenario of the market, which includes detailed analysis of North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. For each segment, the market sizing and forecasting have been done in value terms of USD million.

By Product Type
Protein Hydrolysates
Protein Concentrates
Protein Isolates
Casein and Caseinates
By Source
Animal-based Protein
Plant-based Protein
By Application
Food and Beverages
Bakery and Confectionery
Infant Formula
Beverage
Dairy
Dietary Supplements
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Key Market Trends

Increased Usage of Functional Proteins in Dietary Supplements

Consumers are now joining fitness centres and gyms owing to the increased cases of lifestyle diseases and growing health awareness among consumers. Dietary supplements especially protein supplements containing functional proteins are often recommended in these centres as it aids to build muscle mass, managing weight and bone density and fulfilling the protein requirement of the body. Dietary supplements such as whey protein concentrate also provide added advantages such as fat loss, stress reduction and decreased cravings and thus increasing the market growth of functional proteins. One such example is DSM acquired AVA, a United States-based company that works on personalized nutrition platform that provides nutrition and coaching recommendations across a wide range of health and wellness segments. This acquisition has helped DSM to strengthen its position in personalized nutrition including dietary supplements.

Global Dietary Supplements Market : Year-on-Year Growth Rate (%), 2016-2020

North America holds the Largest Share

North American functional proteins is growing at a fast rate, owing to changes in lifestyles, lack of balanced dietary intake, and improved R&D to develop new kinds of functional plant-protein enriched products. The United States continues to capture the largest market share for plant protein, followed by Canada and Mexico. The demand for processed and low cholesterol foods has paved the way for the plant-based protein market in the region. Nowadays, consumers around the world are switching to other alternative products, such as green label food products, coupled with rising awareness of healthy and plant-based products, which is driving the market forward.

Functional Protein Market: Market Size (%), Global, 2020

Competitive Landscape

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. There are numerous prominent players in the market such as Kerry Inc, Glanbia plc, AMCO Proteins, Cargill Incorporated, and Ingredia SA, among others.

Recent Developments

In 2020 - Kerry acquired Pevesa Biotech, a Spanish company specializing in non-allergenic and organic plant protein ingredients for infant, general, and clinical nutrition.

In 2018 - Kerry acquired Ojah BV, a Dutch plant protein manufacturing company, in order to commercialize the latter’s High Moisture Extrusion (HME) technology of texturizing vegetable proteins as meat and fish alternatives.

In 2018 - Cargill signed a joint venture agreement with PURIS, the largest North American producer of pea protein to accelerate a new wave of great tasting, sustainable, and label-friendly plant-based foods.​

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Protein Hydrolysates

      2. 5.1.2 Protein Concentrates

      3. 5.1.3 Protein Isolates

      4. 5.1.4 Casein and Caseinates

    2. 5.2 By Source

      1. 5.2.1 Animal-based Protein

      2. 5.2.2 Plant-based Protein

    3. 5.3 By Application

      1. 5.3.1 Food and Beverages

        1. 5.3.1.1 Bakery and Confectionery

        2. 5.3.1.2 Infant Formula

        3. 5.3.1.3 Beverage

        4. 5.3.1.4 Dairy

      2. 5.3.2 Dietary Supplements

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Spain

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 Germany

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Russia

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 United Arab Emirates

        3. 5.4.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Kerry Inc.

      2. 6.4.2 Glanbia plc

      3. 6.4.3 Fonterra Co-operative Group

      4. 6.4.4 AMCO Proteins

      5. 6.4.5 Milk Specialties

      6. 6.4.6 Ingredia SA

      7. 6.4.7 FrieslandCampina

      8. 6.4.8 Archer Daniels Midland Company

      9. 6.4.9 MGP Ingredients Inc.

      10. 6.4.10 DuPont de Nemours, Inc

      11. 6.4.11 Cargill Incorporated

      12. 6.4.12 Omega Protein Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Global Functional Proteins Market market is studied from 2016 - 2026.

The Global Functional Proteins Market is growing at a CAGR of 6.65% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Kerry Inc, Glanbia plc, Fonterra Co-operative Group, AMCO Proteins, Milk Specialties are the major companies operating in Global Functional Proteins Market.

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