Functional Protein Market

Functional Protein Market size reached USD 5.5 billion in 2021 and is estimated to reach USD 8.8 billion in 2029 and the market is estimated to grow at a CAGR of 6.1% from 2022-2029.

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Market Dynamic

Key Drivers and Emerging Trends

Individuals around the world are becoming more health-conscious and are increasingly opting for healthy food products. As per the IDF, around 463 million people are suffering from diabetes around the world, out of which 55 million individuals in the MEAN region are having diabetes. This amount is anticipated to surge and touch 108 million by the end of 2045. Thus, diseases such as cholesterol, diabetes, obesity, and other diseases are surging the demand for overall functional proteins. The millennial population is moving towards functional food products as these items are suiting their hectic lifestyle.

Functional protein includes those ingredients that induce biological effect when consumed by a human being or animal. For instance, the raw soybean includes an ingredient, trypsin inhibitor, which enhances the ability of animals and the human body to digest protein easily. Moreover, the expansion of the animal feed industry in the developing countries, including India, China, and Brazil, due to the increasing demand for dairy derivatives on a domestic level is further responsible for the growth of the market during the forecast period.

Restraint in the Functional Proteins Market

The high cost of functional proteins is hampering the market growth over the coming years. Moreover, animal-based proteins are witnessing a fall in demand due to the emerging trend of the vegan population and the health benefits of vegetarianism.

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Product – Segment Analysis

Based on the product, the hydrolysates is expected to grow at a higher CAGR during the forecast period. This type of product is prebiotic, hypertensive protein products, and anti-micro biotic, which is usually used in the manufacturing of products for infant and clinical nutrition. On the other hand, the casein & caseinates is projected to dominate the market during the forecast period. Casein provides various functional properties such as structure formation, water binding, foaming, heat stability, and emulsification. The growing awareness related to the several benefits of this product is surging the demand of the segment.

Foam – Segment Analysis

Based on the form, the liquid form is predicted to grow at a higher CAGR during the forecast period. This is attributed to the rising sales of dietary protein-based juices and functional beverages in North America and Europe. On the other hand, the dry form is expected to lead the market during the forecast period. The increasing application of this form as texturing agents for ground meat products such as nuggets, meatballs, fish products, sausages, and patties, is a key driver that is boosting the growth.

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Regional – Segment Analysis:

Based on the region, North America is expected to witness a faster CAGR over the coming years. The rising urban population, the hectic lifestyle and growing disposable income, are contributing to the regional market growth. In addition to this, the growing usage of products with decreased calorie levels and high nutritional value is further surging the demand for functional proteins.

Top Market Players

Some of the leading players operating in the market include ADM, DSM, BASF SE, Ingredion, Fonterra Co-operative Group Limited, Cargill, Incorporated, SunOpta, DuPont, Roquette Frères, and Glanbia PLC, among others. 

Key Developments:

• • In 2020, Cargill, Incorporated announced to expand its European ingredient portfolio by adding pea protein. Through this expansion, the company planned to get access to the pea protein market.
  • In 2020, ADM expanded their protein portfolio offering with the textured wheat and pea proteins. The high-functionality proteins enhanced the meat-like texture of alternative meats.

Segments covered in the Report:

The global Functional Proteins market has been segmented on the basis of Type, Source, Application, Form and regions. Based on Type, the market is segmented into Hydrolysates, Whey Protein Concentrates, Whey Protein Isolates, Casein/Caseinates, Soy Protein, and Others. Based on Source, the market is segmented into Animal Source and Plant Source. Based on Application, the market is segmented into Functional Food, Functional Beverages, Dietary Supplements, Sports Nutrition, and Animal Nutrition. Based on Form the market is segmented into Dry and Liquid.

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Key questions answered in this research report:

• • At what pace is global Functional Proteins market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Functional Proteins market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Functional Proteins market?
  • Which Type generated maximum revenues in 2021 and identify the most promising Type during the forecast period?
  • What are the various Source areas of global Functional Proteins market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Functional Proteins Market by Type

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

Global Functional Proteins Market by Source

• • Animal Source
  • Plant Source

Global Functional Proteins Market by Application

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

Global Functional Proteins Market by Form

• • Dry
  • Liquid

Global Functional Proteins Market by Region

• • North America Functional Proteins Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Source
    • By Application
    • By Form
    • US Market All-Up
    • Canada Market All-Up
  • Europe Functional Proteins Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Source
    • By Application
    • By Form
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Functional Proteins Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Source
    • By Application
    • By Form
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Functional Proteins Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Source
    • By Application
    • By Form
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Functional Proteins (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ADM
  • DSM
  • BASF SE
  • Ingredion
  • Fonterra Co-operative Group Limited
  • Cargill, Incorporated
  • SunOpta
  • DuPont
  • Roquette Frères
  • Glanbia PLC