Functional Protein Market Status:
The functional protein market can secure a 3.78% growth rate from 2020 to 2027 (appraisal period), expects Market Research Future (MRFR).
Market Drivers and Deterrents
The world is grappling with the aftereffects of the SARS-CoV-2 pandemic, and the worldwide lockdown measures have slowed down the supply chains of almost every sector. In the meantime, people are focusing on their health by trying to improve their immunity. The lockdown has led to people being confined to their homes, who are now extremely focused on maintaining a healthy lifestyle along with a proper diet, which includes the consumption of functional protein. As a result, despite the surge in novel coronavirus cases, the demand for functional proteins should remain strong throughout the review period.
Functional protein, whether derived from animals or plants, are known for their viscosity/ gelation, emulsification, aeration, foaming, and water-binding/hydration properties. Some other attributes include stabilizing ability, high solubility and thickening ability. In addition to these functionalities, significant nutritional contents of proteins are also fostering their demand across several end-user industries. End-user industries like personal care and cosmetic use a variety of functional protein, given their skin and hair moisturizing and conditioning properties.
The protein ingredients market growth is also induced by the fact that various manufacturers are increasingly designing and developing specific concentrates, isolates, and forms of functional protein with applications in beverages, infant formula, dairy products, confectionery, dietary supplements, bakery products, and multiple food products. There are frequent developments taking place globally, in terms of product innovations and range expansions, which are viewed as noteworthy protein ingredients market trends. To cite a reference, in January 2022, NuCicer launched high-protein chickpeas, which are claimed by the company as the “ideal plant protein”. This latest line of varieties has been made using wild genetic diversity, and will facilitate more affordable, sustainable, plant proteins as well as high-protein, gluten-free whole bean and flours products.
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Plant-based function proteins are emerging as a highly lucrative segment in the market. Soy proteins are particularly witnessing robust demand as these are a sustainable protein source and are cost-effective. Considering soy’s rich protein content compared to other plant sources, its popularity among vegans has been escalating significantly in recent years. The Islamic countries are also presenting incredible opportunities with respect to a plant-based functional protein since animal proteins derived from pork are forbidden.
Segmental Analysis
Major types of function protein are soy protein, Hydrolysates, Whey protein isolates, Whey protein concentrates, Casein, and more.
The top sources of functional protein are animals and plants.
The forms in which function protein is generally available in the market include dry as well as liquid.
Primary applications of functional protein are Animal nutrition, Functional food, Dietary supplements, Sports nutrition, Functional beverages, and more.
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Regional Outlook
Europe accounts for maximum share of around 35% in the market, standing as the global leader. Functional protein supply and demand in the region is quite huge, in line with the surging nutritional needs for weight management and muscle improvement among fitness conscious consumers. Animal-based functional protein notes massive demand in the region, in conjunction with the thriving food & beverages industry.
Asia Pacific will advance at the fastest rate of 5.48% in the worldwide market. Soy proteins enjoy massive demand in Asia Pacific, with China as a prominent consumer in the region. Surging burden of health-related diseases, combined with the rising focus on taste, freshness, and quality of foods among consumers has led to higher demand for functional protein in the region.
Top Industry Contenders
Major developers of functional protein are GNC Holdings Inc (U.S.), Shandong sinology health food co., ltd (China), Glanbia Plc. (Ireland), NBTY Inc. (U.S.), Herbalife Ltd (U.S.), Archer Daniels Midland Company (U.S.), MaxiNutrition (U.K.), and many more.
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