As per the report published by Fior Markets, the global functional proteins market is expected to grow from USD 4.67 Billion in 2018 to USD 7.98 Billion by 2026, at a CAGR of 6.93% during the forecast period 2019-2026. The Asia Pacific region dominated the global market with a 39.98% share of market revenue in 2018. However, the North America region is projected to grow at a robust pace over the forecast period.
“Functional Proteins Market by Type (Hydrolysates, Casein/Caseinates, Soy Protein, Others), Source, Form, Application, Regions”,and Global Forecast 2019-2026.
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Major players in the global functional proteins market are Archer Daniels Midland Company, Koninklijke DSM N.V., Cargill, Incorporated, BASF SE, Ingredion Incorporated, Roquette Frères, SunOpta, Darling Ingredients Inc., Omega Protein Corporation, DowDuPont Inc., Kemin Industries, Inc., InVivo , John Pointon& Sons Ltd., Fonterra Co-Operative Group, Arla Foods, Kerry Group, Glanbia PLC, APC Inc., Saputo Ingredients, and Friesland Campina among others. Consumers of a high protein diet commonly experience difficulty digesting large amounts of protein, presenting gastrointestinal symptoms including constipation, bloating and excess flatulence. In order to overcome this issue,Glanbia PLC in 2018 announced the launch of IGNITOR® and WheyXR™. These products contain protein-digesting enzymes that helpto overcome this problem by assisting the breakdown of proteins to release amino acids.
The type segment is divided into hydrolysates, whey protein concentrates, whey protein isolates, casein &caseinates, soy protein, and others. Increasing production and processing of soybean, it’s easily digestible property, superior fat retention capacity and higher nutritional level are generating a huge demand for the soy protein. As a result, the soy protein segment is expected to grow at the highest CAGR of 8.45% over the forecast period.Soy protein is also known as concentrated protein and has around 60–70% of soybean protein content. In addition, soy protein is used in limiting the effects of the obesity-related conditions as they contain natural ingredientbased proteins that are easy to digest. The source segment includes animal source and plantsource. The animal sourced protein is extensively utilized in the end-use applications, such as sports nutrition, health supplements etc. Therefore the animal source segment emerged as a leader in the global functional protein market with a 67.34% share of market revenue in 2018. The form segment is categorized into dry and liquid. Rising use of liquid form functional proteins in the production of dietary protein-based juices and functional beverages is anticipated to fuel the liquid form segment to grow at an accelerated CAGR of 8.95% over the forecast period.The increasing use of proteins in the manufacturing animal feeds and demand for the dairy protein, egg protein, and gelatin products is supplementing the animal source segment growth.The application segment is fragmented into functional foods, functional beverages, dietary supplements, and animal nutrition. Due to the growing consumption of different types of functional dietary protein supplements among consumers of all ages, the dietary supplements segment emerged as the leader in the global functional protein market with a 39.89% share of market revenue in 2018.The increasing use of proteins in the manufacturing animal feeds and demand for the dairy protein, egg protein, and gelatin products is supplementing the animal source segment growth.
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Even though the factors such as rising utilization of functional proteins in the food industry, technological upgradation in thefunctional proteinsproduction process as well as growing consumers preference toward a healthy diet are driving the global functional proteins market. The growing regulations on the use of animal proteins and lack of awareness are expected to restrain the market growth over the forecast period.
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