Fior Markets launched a study titled “Functional Proteins Market by Type (Hydrolysates, Casein/Caseinates, Soy Protein, Others), Source, Form, Application, Regions”,and Global Forecast 2019-2026.
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. Growing utilization of functional protein concentrates and isolates in the food industry and increasing demand from the emerging economies are expected to propel the market growth over the forecast period.
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The soy protein segment is anticipated to grow at a CAGR of 8.45% in 2019-2026
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, 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 are also known as concentrated protein and has around 60–70% of soybean protein content. In addition, soy protein are used in limiting the effects of the obesity-related conditions as they contain natural ingredientbased proteins that are easy to digest.
The animal source segment had a market value of USD 3.14 billion in 2018
The source segment includes animal source and plantsource. The animal sourced protein is in the 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 USD 3.14 billion 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.
The dietary supplements segment had a market value of USD 1.86 billion in 2018
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 USD 1.86 billion revenue in 2018.Dietary supplements are primarilyto improve the consumption of vital nutritional components in the human body. The demand for supplements in countries like India, China, and Japan has increased in last few years. Furthermore, aging population globally has also increased the consumption of the dietary supplements and this has increased the dietary supplements segment growth.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa.Rising urban population, hectic lifestyle, rising disposable income and growing prevalence of chronic ailments are leading to an increased demand for the dietary supplements which led the Asia Pacific region to dominate the global market with USD 1.87 billion revenue in 2018. However, the North America region is projected to grow at a robust pace over the forecast period.
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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, Friesland Campina,and among others. The companies are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global functional proteins market.
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