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Global Functional Proteins Market Size, Share, Growth Report 2030

Global Functional Proteins Market Size, Share, Growth Report 2030

Functional Proteins Market

The global functional proteins market accounted for USD 4483.9 Million in 2020 and is expected to reach USD 6982.3 Million by 2028, growing at a CAGR of 5.7% from 2021 to 2028.

Functional proteins are a complex mixture of active proteins that aid in the maintenance and support of normal immunological function. They constitute of polypeptides that perform a a range of biological functions. Some proteins also aid in fighting against germs, while others help in the maintenance of structural support. Functional proteins help grow, maintain and develop every part of the human body including skin, digestive enzymes, hair and immune system.

The market is primarily driven by changing consumer preferences towards healthier alternatives clubbed with and rising health awareness. Rising shift among consumers towards veganism, animal compassion and environment sustainability are causing an increased demand for plant based functional proteins. Functional proteins are also becoming an active part of dietary supplements, especially protein supplements such as whey protein concentrates that are being increasingly used by consumers to weight management, muscle development and others.

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COVID-19 Impact Analysis

The lockdowns and restrictions imposed to curb the spread of the corona virus led to the temporary shutdown of several factories and plants that affected the global supply chains, thereby causing a disruption in manufacturing, delivery schedules, and functional protein-based products sales globally.

Growth Factors

Growing health consciousness among the consumers is one of the major factors driving this market. Consumers all over the world have become increasingly health-conscious, emphasizing on the importance of a well-balanced diet. This is also due to the significant prevalence of chronic diseases in the population, such as diabetes, lipid abnormalities, and obesity. The global market is thus witnessing significant growth due to an increase in demand for nutraceuticals in order to maintain a balanced diet while also increasing nutritional value.

Additionally, a considerable increase in demand for medical nutrition to maintain a high level of nutrition in newborns and pregnant women, particularly in developed nations, is also expected to boost the global functional proteins market.

Application Segment Analysis Preview

Functional food segment held a share of around 32% in 2020. This is attributable to the growing popularity of nutritional fortification in the food processing industry. With hectic lifestyles and work schedules, consumers are actively looking for convenient food products that are healthy to consume and offer functional proteins

Form Segment Analysis Preview

Liquid segment will grow at a CAGR of over 5.1% from 2021 to 2028. This is attributable to rise in sales of functional beverages and dietary protein-based juices in developed economies as a result of extensive advertising via social media and electronic media. Rising health consciousness among the millennials are driving them from carbonated and fruity drinks to functional beverages. Furthermore, these consumers are also willing to pay higher prices for the beverages in order to gain the health benefits associated with consuming them.

Regional Analysis Preview

The Asia Pacific region held a share of 37.2% in 2020. This can be attributed to growing hectic lifestyles and urban populations clubbed with rise in disposable income and interest in the health benefits offered by functional proteins in this region. Moreover, increased prevalence of cardiovascular disorders and high blood pressure among people in the region may also bolster the growth of the market.

The North America region is projected to grow at a CAGR of around 5.2% over the forecast period. This growth is mainly due to increased use of functional proteins to manage health issues. Whey protein concentrates are gaining popularity as more people turn to dairy proteins to meet their nutritional needs.

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Key Market Players & Competitive Landscape

Some of key players in automated sortation system market are:

  • Fonterra Co-Operative Group
  • Arla Foods AMBA
  • Kerry Group
  • ADM
  • Glanbia PLC
  • APC Inc.
  • DowDuPont
  • Omega Protein Corporation
  • Darling Ingredients.
  • SunOpta
  • Roquette Frères
  • Ingredion
  • BASF
  • Cargill among others. 

Market leaders are focusing on technological innovations and strategies such as product development and mergers and acquisitions in order to expand their footprint globally and meet market demand. For instance, ADM acquired Neovia, a pet nutrition company in January 2019 for EUR 1.544 billion. This acquisition can enable the company increase their geographic reach and expand their portfolio of animal nutrition business.

The global functional proteins market is segmented as follows:

By Product

  • Hydrolysates
  • Whey Protein Concentrates
  • Whey Protein Isolates
  • Casein & Caseinates
  • Soy Protein
  • Others

By Form

  • Dry
  • Liquid

By Application

  • Functional Food
  • Functional Beverages
  • Dietary Supplements
  • Animal Nutrition
  • Sports Nutrition

By Source

  • Animal
  • Plant

By Region

  • North America
  • The U.S.
  • Canada
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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