Functional Proteins Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.65 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Functional Proteins Market Analysis
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.
Functional Proteins Market Trends
This section covers the major market trends shaping the Functional Proteins Market according to our research experts:
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.
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 Proteins Industry Overview
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.
Functional Proteins Market Leaders
Kerry Inc
Glanbia plc
Fonterra Co-operative Group
AMCO Proteins
Milk Specialties
*Disclaimer: Major Players sorted in no particular order
Functional Proteins Market News
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.
Functional Proteins Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Protein Hydrolysates
5.1.2 Protein Concentrates
5.1.3 Protein Isolates
5.1.4 Casein and Caseinates
5.2 By Source
5.2.1 Animal-based Protein
5.2.2 Plant-based Protein
5.3 By Application
5.3.1 Food and Beverages
5.3.1.1 Bakery and Confectionery
5.3.1.2 Infant Formula
5.3.1.3 Beverage
5.3.1.4 Dairy
5.3.2 Dietary Supplements
5.3.3 Others
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Germany
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 South Africa
5.4.5.2 United Arab Emirates
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Kerry Inc.
6.4.2 Glanbia plc
6.4.3 Fonterra Co-operative Group
6.4.4 AMCO Proteins
6.4.5 Milk Specialties
6.4.6 Ingredia SA
6.4.7 FrieslandCampina
6.4.8 Archer Daniels Midland Company
6.4.9 MGP Ingredients Inc.
6.4.10 DuPont de Nemours, Inc
6.4.11 Cargill Incorporated
6.4.12 Omega Protein Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Functional Proteins Industry Segmentation
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 | ||||||
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| Dietary Supplements | ||||||
| Others |
| Geography | |||||||||
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Functional Proteins Market Research FAQs
What is the current Global Functional Proteins Market size?
The Global Functional Proteins Market is projected to register a CAGR of 6.65% during the forecast period (2024-2029)
Who are the key players in Global Functional Proteins Market?
Kerry Inc, Glanbia plc, Fonterra Co-operative Group, AMCO Proteins and Milk Specialties are the major companies operating in the Global Functional Proteins Market.
Which is the fastest growing region in Global Functional Proteins Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Functional Proteins Market?
In 2024, the North America accounts for the largest market share in Global Functional Proteins Market.
What years does this Global Functional Proteins Market cover?
The report covers the Global Functional Proteins Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Functional Proteins Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Functional Proteins Industry Report
Statistics for the 2024 Functional Proteins market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Functional Proteins analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
