[Research Report] The functional proteins market was valued at US$ 10,297.91 million in 2019 and is projected to reach US$ 17,767.48 million by 2027; it is expected to grow at a CAGR of 7.2% from 2020 to 2027.
Consumers are more inclined toward wellness, health, and nutrition content. Food industry is continuously introducing new products considering the adoption of healthy lifestyle among consumers. Among functional food ingredients, protein is one of the significant ingredients that are naturally found in the range of animal and plant sources. Proteins are crucial for the smooth body functioning, and are required for the structure, function, and regulation of the body’s tissues and organs. The awareness among consumers regarding the benefits offered by functional proteins is contributing significantly to the growth of the functional proteins market. In addition, increasing disposable income of consumers in emerging economies in Asia Pacific, Middle East, and Africa, and South America contributes to the market growth.
In 2019, Asia-Pacific held the largest share of the global functional proteins market. Emerging countries in Asia Pacific region are witnessing an upsurge in the middle-class population and urbanization growth, which offers lucrative opportunities for the key market players in the market. The region contributes a substantial share in functional protein consumption due to rising population base coupled with increasing disposable income. The growth of the functional protein market in Asia Pacific is majorly fueled by the growing healthcare awareness and rising consumer interest toward nutritional and healthy diets. Moreover, the sales of infant formula with high amount of functional proteins is rising in Asia Pacific region. Working women population is increasing in Asia Pacific countries and many working mothers are preferring for healthy and convenient food options for their infants, which is also bolstering the market growth.
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~108,579,352 confirmed cases and 2,396,408 total deaths globally. The outbreak has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food and beverage industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns, etc. The lockdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East, and Africa restricts the global supply chains and hinders the manufacturing activities, delivery schedules, and various goods sales. Transportation is also a major concern as many borders are closed due to the global travel bans imposed by countries in Europe, Asia, and North America. This also disrupts business collaborations and partnerships opportunities. All these factors have restrained the growth of the functional protein market.
Global Functional Proteins Market Breakdown—by Region, 2019
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Instance of Chronic Diseases Coupled with Rising Consumers Awareness
Functional proteins are a complex mixture of biologically active proteins that supports and maintains normal immune function. Nowadays, the populace worldwide is inclined toward a healthy lifestyle and is spending considerably on nutritional products. Functional proteins help in lowering the blood pressure that is a major cause of heart attracts, strokes, and chronic kidney diseases. According to the estimates of Centers for Disease Control and Prevention, nearly half of adults in the US are affected by hypertension and are taking medication for hypertension. Furthermore, the rate of patients suffering from obesity is escalating across the globe. Obesity leads to various health issues such as heart disease, type 2 diabetes, stroke, and certain types of cancer. For instance, according to the Centers for Disease Control and Prevention, the prevalence of obesity in the US was 42.4% in 2017–2018. To overcome such issues, the populace is exploring new methods to stay fit and opt for healthy lifestyles. Such instances are estimated to increase the demand for foods enriched with functional proteins, aiding in the market expansion.
Type Insights
Based on type, the global functional proteins market is segmented into hydrolysates, concentrates, and isolates. The isolates segment led the market in 2019. Functional protein isolates are highly concentrated protein fractions and protein concentrates obtained from plant and animal sources that can be produced by wet processing. The protein separation is mainly based on solubilization of protein followed by the isoelectric process or an ultrafiltration process for the subsequent recovery. A whey protein isolate is a dietary supplement and a food ingredient formed by separating components from whey. Whey is a milk by-product of the cheese-making process. Protein isolates and specifically the pea protein isolate are well absorbed and possess a myriad of functional benefits such as improved satiety, facilitating fat loss, and muscle gain.
Source Insights
By source, the global functional proteins market is bifurcated into plant and animal. The animal segment dominated the market in 2019. Animal proteins such as meat, eggs, and dairy protein are complete proteins as they offer all of the essential amino acids that the body needs. Animal products always provide the highest-quality protein sources. Hydrolysates, concentrates, and isolates are the three major types of functional animal protein which are found in the market. Among food & beverage and animal feed industries, animal functional protein plays a crucial role. Protein supplement powder of animal-based protein is gaining popularity among health-conscious consumers across the world.
Functional Proteins Market, by Source– 2019 & 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Form Insights
By form, the global functional proteins market is bifurcated into dry and liquid. The dry segment dominated the market in 2019. Dry protein concentrate is highly employed in nutritional supplements. Protein is an essential macronutrient that helps build muscle, repair tissue, and make enzymes & hormones. Protein powder can also aid weight loss and help consumers tone their muscles. Whey protein concentrates are basically used as ingredients in many food applications such as confectionery, snack foods, bakery products, yogurts, dips, desserts, meat products, ice cream, soups, pasta products, sauces, beverages, and processed cheese products.
Application Insights
By application, the global functional proteins market is segmented into functional foods, functional beverages, dietary supplements, animal nutrition, and others. The dietary supplements segment dominated the market in 2019. Dietary supplements are substances utilized to add nutrients to the diet or to lower the risk of health problems such as osteoporosis or arthritis. Protein supplements are products intended to offer additional nutritional value to the diet. The increasing awareness regarding diseases caused by protein deficiencies and rising need for on-the-go meal replacers are convincing consumers to include protein supplements in their busy lifestyles.
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Functional Proteins Market: Strategic Insights
Market Size Value in US$ 10,297.91 Million in 2019 Market Size Value by US$ 17,767.48 Million by 2027 Growth rate CAGR of 7.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Functional Proteins Market: Strategic Insights
| Market Size Value in | US$ 10,297.91 Million in 2019 |
| Market Size Value by | US$ 17,767.48 Million by 2027 |
| Growth rate | CAGR of 7.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
The players present in the functional proteins market are implementing the mergers and acquisition and research & development strategies to enlarge their customer base and gain significant market share across the world, which also permits the players to maintain their brand name globally.
Report Spotlights
- Progressive industry trends in the global functional proteins market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the global functional proteins market from 2017 to 2027
- Estimation of functional proteins demand across various industries worldwide
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
- Recent developments to understand the competitive market scenario and global functional proteins demand
- Market trends and outlook coupled with factors driving and restraining the growth of the global functional proteins market
- Decision-making process by understanding strategies that underpin commercial interest with regard to global functional proteins market growth
- Global functional proteins market size at various nodes of market
- Detailed overview and segmentation of the global functional proteins market, as well as its dynamics in the industry
- Global functional proteins market size in various regions with promising growth opportunities
Functional Proteins Market – by Type
- Hydrolysates
- Concentrates
- Isolates
Functional Proteins Market – by Source
- Plant
- Animal
Functional Proteins Market – by Form
- Dry
- Liquid
Functional Proteins Market – by Application
- Functional Foods
- Functional Beverages
- Dietary Supplements
- Animal Nutrition
- Others
Company Profiles
- AMCO Proteins
- APC INC
- FrieslandCampina
- Abbott Nutrition
- Archer Daniels Midland Company
- Arla Foods Ingredients Group
- Cargill, Incorporated
- Glanbia plc
- DSM
- Real Dairy Australia Pty Ltd.
- Fonterra Co-operative Group Limited
- Kerry
- Saputo Ingredients
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Source , Form , and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Animal proteins, including meat, eggs, and dairy protein, are complete proteins, meaning they offer all of the essential amino acids that the body needs. Animal products always provide the highest-quality protein sources. In the case of functional animal protein three major types are found in the market such as hydrolysates, concentrates, and isolates. Among food & beverage and animal feed industries, animal functional protein plays a crucial role. Protein supplement powder from animal source is further gaining popularity among health-conscious consumers globally.
The major players operating in the global functional proteins market are AMCO Proteins, APC INC, FrieslandCampina, Abbott Nutrition, Archer Daniels Midland Company, Arla Foods Ingredients Group, Cargill, Incorporated, Glanbia plc, DSM, Real Dairy Australia Pty Ltd., Fonterra Co-operative Group Limited, Kerry, and Saputo Ingredients among others.
In 2019. Asia pacific held the largest share of the global functional protein market. These emerging countries are witnessing an upsurge in the middle-class population and urbanization growth, which offers ample opportunities for the key market players in the functional proteins market. The region contributes a substantial share in functional protein consumption due to a rise in population base coupled with increased disposable income. In recent years, the functional protein market in Asia Pacific is majorly fueled by the growing health care awareness and rising consumer interest toward nutritional and healthy diets. Moreover, the sales of infant formula with high amount of functional proteins is rising in Asia Pacific region. Working women population is increasing in Asia Pacific countries, hence many working mothers preferring for healthy and convenient food options for their infants.
The List of Companies - Global Functional Proteins Market
- AMCO Proteins, APC INC
- FrieslandCampina
- Abbott Nutrition
- Archer Daniels Midland Company
- Arla Foods Ingredients Group
- Cargill, Incorporated
- Glanbia plc
- DSM
- Real Dairy Australia Pty Ltd.
- Fonterra Co-operative Group Limited
- Kerry
- Saputo Ingredients
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
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- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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