|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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|
|Casein and Caseinates|
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.
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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.
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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. There are numerous prominent players in the market such as Kerry Inc, Glanbia plc, AMCO Proteins, Cargill Incorporated, and Ingredia SA, among others.
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 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
220.127.116.11 Bakery and Confectionery
18.104.22.168 Infant Formula
5.3.2 Dietary Supplements
5.4.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.4.3 Asia Pacific
220.127.116.11 Rest of Asia-Pacific
5.4.4 South America
18.104.22.168 Rest of South America
5.4.5 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 United Arab Emirates
188.8.131.52 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
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
6.4.8 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
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Global Functional Proteins Market market is studied from 2016 - 2026.
What is the growth rate of Global Functional Proteins Market?
The Global Functional Proteins Market is growing at a CAGR of 6.65% over the next 5 years.
Which region has highest growth rate in Global Functional Proteins Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Functional Proteins Market?
North America holds highest share in 2021.
Who are the key players in Global Functional Proteins Market?
Kerry Inc, Glanbia plc, Fonterra Co-operative Group, AMCO Proteins, Milk Specialties are the major companies operating in Global Functional Proteins Market.