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Functional Proteins Market 2022 Segment by Types, Applications, Leading Players Update, SWOT Analysis and Forecast 2030

Global Functional Proteins Market Size- Industry Trends & Forecast Report 2027

The global functional proteins market is estimated to have reached USD 5.1 billion in 2020. The market is further projected to garner USD 7.2 billion by 2027, at a CAGR of 6.1% during 2021-2027 (forecast period).Increased demand for nutraceuticals are expected to remain a key driving force in the near future due to the rising consumer awareness towards maintaining a balanced diet and improving the nutritional value of the human body.

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Functional Proteins Overview

Functional proteins are a biologically active protein that promotes and helps maintains a healthy immune system besides regulating the function of body tissues and organs. Functional proteins are a diverse combination of proteins that are biologically involved to help and sustain normal immune function. Functional proteins carry out a function in the body, unlike structural proteins which produce structures (bones and muscles). However, the evidence indicates that proteins have important biological effects in the animal. In other words, functional proteins perform some biological function in the body. Proteins that have biological activity can be referred to as functional proteins.

Global Functional Proteins Market Forecast and Trends

Growth Drivers

Increasing Usage of Functional Proteins by Various End-User Industries

Due to the growing demand for food items with enhanced functionalities, functional proteins are used in various applications, such as dietary supplements, food, and beverages. During the forecast period, the ability of manufacturers of functional proteins to produce distinct protein isolates, protein concentrates, and other types of protein ingredients for various food items, such as dairy products, beverages, dietary supplements, infant formulas, bakery, and confectionery products is expected to drive the growth of the market for functional proteins in the forecast period.

Upgradation in the Functional Proteins Market

Protein ingredients in the food industry are commonly used for their health benefits and versatility in food formulations. Due to the mounting demand for plant-based products by customers, plant protein ingredients are currently widely used in the food industry. For instance, to replace meat, egg, milk, and other dairy products, vegetable proteins such as meat analogs, mung bean protein isolates, soy milk, almond milk, and vegan cheese are being used increasingly. This is one of the major driving for the functional proteins market.


Regulations for animal Protein

The US-FDA (US Food & Drug Administration) has strict regulations for the protein that comes from mammalian tissues. For example, because of the risk of spreading Bovine Spongiform Encephalopathy (BSE), also known as mad cow disease, the Ministry of Agriculture and Forestry (MAF) of New Zealand had imposed stringent restrictions on the consumption of ruminant protein in any type, composition, or mixture. This limitation restricts the trade and availability of some animal proteins intended for human consumption. Thus, it has negatively impacted the worldwide supply of protein ingredients derived from animals.

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Impact of COVID-19 in the industry

The global functional proteins market has shown a sudden rise in market demand due to COVID-19. The pandemic has severely affected several industry players with regard to business and functional parameters. As soon as the World Health Organization (WHO) declared the novel coronavirus (COVID-19) as a pandemic, countries across the globe were compelled to enforce nationwide lockdown to prevent the spread of the virus.

Among working professionals, there is an increase in the popularity of functional foods, and dietary supplements in sports nutrition are expected to increase the intake of protein-enriched foods. In addition to this, as customers become more aware of their health and wellbeing as a result of the recent COVID-19 outbreak, the demand is expected to multiply. This change would be apparent in the developing countries as well as the developing countries in the coming years are expected to exhibit a growing demand for medical nutrition. Any of the countries that have been most severely affected by COVID-19 are likely to experience a high demand for functional proteins.

Global Functional Proteins Market: By Type

Based on the segment, the market is segmented into hydrolysates, whey protein concentrates, whey protein isolates, casein&caseinates, and soy protein. In 2020, the whey protein concentrate segment dominated the market. Whey protein is one of the main ingredients used for making various milk-based products. It is also used as a protein source for product innovation by food and beverage manufacturers. Due to their easy availability or ease of processing and lower costs compared to hydrolysates and isolates, they are widely used as a source of protein in functional food and beverages, which is driving the demand for whey protein in this particular segment.

Global Functional Proteins Market: By Application

Based on the application, the market is segmented into functional foods, functional beverages, dietary supplements, and animal nutrition. The dietary supplement segment currently dominates the market. To compensate for the deficiencies of nutrients in the diet, dietary supplements are consumed in the form of capsules, liquids, powders, or tablets. In dietary supplements, the use of nutritional supplements such as protein powder is one of the upcoming trends. Nowadays, health-conscious consumers of all ages across the world prefer consuming functional dietary protein supplements to stay healthy and fit. Nutritional supplements encourage muscle growth, fat loss, and also offer countless nutritional benefits.

Global Functional Proteins Market: Regional Insights

The global functional proteins market is segmented into five regions including North America, Europe, Asia Pacific, Latin America, and the The Middle East & Africa, wherein the Asia Pacific is expected to be the fastest-growing market during the forecast period for functional proteins. Due to the growing consumption of functional foods and dietary supplements, the consumption of plant-based proteins such as soy protein and pea protein in the Asia Pacific region has been experiencing robust growth. The higher economic power among the region’s consumers has led to the rise in soy protein consumption, which is cheap and abundant in countries in the Asia Pacific. Additionally, countries such as Japan, Australia, and New Zealand are also focusing on offering premium ingredients for functional proteins, taking into account its derived health benefits.

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Competitive Landscape

Key Players for Functional Proteins MarketInclude– Archer Daniels Midland Company, Koninklijke DSM N.V., Cargill, BASF SE, Ingredion Incorporated, Roquette Freres, SunOpta, Darling Ingredients Inc, Omega Protein Corporation, DowDuPontInc, Kemin Industries, InVivo, and John Pointon& Sons Ltd.

SunOpta, for instance, reported an extra investment in the plant-based foods and beverages division. The investment will increase the potential of its plant in Allentown, Pennsylvania further. Additionally, the company announced its exit from its frozen fruit processing plant in Santa Maria, California, effective February 1, 2021. To sustain growth plans, these programs are part of the company’s multi-year supply chain optimization strategy.

Recent Developments

· On 14 December 2020, DSM announced a collaboration agreement with VALIO to develop sustainable dairy products. Purpose-led by global science-based companies active in nutrition, health, and sustainable living, has signed a collaboration agreement to significantly reduce the carbon footprint of dairy production in Finland.

· On 19 November 2020,ADM and InnovaFeed, announced plans to collaborate on the construction and operation of the world’s largest insect protein production site, in Decatur, Illinois. The facility will be owned and operated by InnovaFeed and will co-locate with ADM’s Decatur corn processing complex, with ADM supplying feedstocks.

Scope of the Report

By Type

Ø Hydrolysates

Ø Whey Protein Concentrates

Ø Whey Protein Isolates

Ø Casein&Caseinates

Ø Soy Protein

Ø Others

By Application

Ø Functional Foods

Ø Functional Beverages

Ø Dietary Supplements

Ø Animal Nutrition

By Source

Ø Plant

Ø Animal

By Form

Ø Dry

Ø Liquid

By Region

Ø North America

Ø Europe

Ø The Asia Pacific

Ø Latin America

Ø  The Middle East and Africa

What are the key findings of the report?

•This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
•The report offers the current state of the market and future prospects for various geographical regions.
•This report provides both qualitative and quantitative information about the competitive landscape of the market.

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