Market Size of Global Functional Proteins Industry
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 |
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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.