Market Size of Global Functional Proteins Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.65 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Functional Proteins Market Analysis
Global Functional Protein Market is projected to reach a CAGR of 7.31% during the forecast period, 2021-2026.
COVID-19's interaction with animal sources will result in a broad population opting for plant-based functional proteins over structural proteins due to numerous health and environmental issues. This encourages the development of plant-based functional proteins. Moreover, with the consumers preferring plant-based functional protein products, owing to the high protein content and enhanced nutritional benefits, such as added fibre, antioxidants, probiotics, and vitamins, manufacturers operating in this space have been compelled to cater to the increasing demand by introducing plant-based ingredients with functional benefits.
The market is driven by the shift in demand from processed food to healthy food products with improved functionalities and the development of various protein ingredients such as hydrolysates, isolates and concentrates for effective utilization in various applications such as dietary supplements and food & beverages.
On the other hand, the elderly requirement for protein is high, and thus the availability requires close attention. With age, due to the presence of anabolic resistance, protein synthesis requires higher levels of circulating amino acids, in particular essential amino acids. Furthermore, protein needs have also increased, and quality is of importance in athletes and people with intense physical activity. While considering the developing communities, vegetable protein sources are often mixed with cereals for complementary feeding to increase protein quantity in meals.
Functional Proteins Industry Segmentation
Functional Proteins are a complex mixture of biologically active proteins that help support and maintain normal immune function. The global functional protein market has been segmented by product type which includes protein hydrolysates, protein concentrates, protein isolates and casein and caseinates. Based on the source, the market is segmented into animal and plant. Based on the application, the market is segmented into food and beverages, dietary supplements and others. The food and beverage sector is further divided into bakery and confectionery, infant formula, beverage, and dairy. The report further analyses the global scenario of the market, which includes detailed analysis of North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. For each segment, the market sizing and forecasting have been done in value terms of USD million.
| By Product Type | |
| Protein Hydrolysates | |
| Protein Concentrates | |
| Protein Isolates | |
| Casein and Caseinates |
| By Source | |
| Animal-based Protein | |
| Plant-based Protein |
| By Application | ||||||
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| Dietary Supplements | ||||||
| Others |
| Geography | |||||||||
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Global Functional Proteins Market Size Summary
The functional protein market is experiencing significant growth, driven by a shift in consumer preferences towards plant-based proteins due to health and environmental concerns. This trend has led to an increased demand for plant-based functional proteins, which offer enhanced nutritional benefits such as added fiber, antioxidants, probiotics, and vitamins. Manufacturers are responding by developing a variety of protein ingredients, including hydrolysates, isolates, and concentrates, to meet the rising demand in applications like dietary supplements and food and beverages. The market is also influenced by the growing need for protein among the elderly and athletes, who require high-quality protein sources to support muscle mass, weight management, and bone density. The rise in health awareness and lifestyle diseases has further propelled the demand for dietary supplements containing functional proteins, such as whey protein concentrate, which offers benefits like fat loss and stress reduction.
In North America, the functional protein market is expanding rapidly due to lifestyle changes, inadequate balanced dietary intake, and advancements in research and development of plant-protein enriched products. The United States leads in plant protein consumption, followed by Canada and Mexico, driven by the demand for processed and low cholesterol foods. Globally, the market is supported by active players employing strategies like new product launches, expansions, joint ventures, partnerships, and acquisitions to enhance growth. Notable companies such as Kerry Inc, Glanbia plc, AMCO Proteins, Cargill Incorporated, and Ingredia SA are key contributors to the market's expansion. Recent acquisitions and joint ventures, such as Kerry's acquisition of Pevesa Biotech and Cargill's partnership with PURIS, highlight the industry's focus on developing sustainable and innovative plant-based food solutions.
Global Functional Proteins Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Protein Hydrolysates
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2.1.2 Protein Concentrates
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2.1.3 Protein Isolates
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2.1.4 Casein and Caseinates
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2.2 By Source
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2.2.1 Animal-based Protein
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2.2.2 Plant-based Protein
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2.3 By Application
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2.3.1 Food and Beverages
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2.3.1.1 Bakery and Confectionery
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2.3.1.2 Infant Formula
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2.3.1.3 Beverage
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2.3.1.4 Dairy
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2.3.2 Dietary Supplements
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Spain
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2.4.2.2 United Kingdom
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2.4.2.3 Germany
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2.4.2.4 France
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2.4.2.5 Italy
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2.4.2.6 Russia
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2.4.2.7 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East and Africa
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2.4.5.1 South Africa
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2.4.5.2 United Arab Emirates
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2.4.5.3 Rest of Middle East and Africa
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Global Functional Proteins Market Size FAQs
What is the current Global Functional Proteins Market size?
The Global Functional Proteins Market is projected to register a CAGR of 6.65% during the forecast period (2024-2029)
Who are the key players in Global Functional Proteins Market?
Kerry Inc, Glanbia plc, Fonterra Co-operative Group, AMCO Proteins and Milk Specialties are the major companies operating in the Global Functional Proteins Market.
