The globalfunctional proteins marketis expected to reach at a CAGR of 5.6% during forecast period, the global market will reach a value of 6.1 BN by 2025. The base value is considered USD 4.6 Bn in 2020. Hectic lifestyles, busy schedules, and the rise of chronic diseases such as diabetes and obesity are shifting consumer preferences toward adopting healthier diets and nutritional supplements to prevent the onset of chronic ailments. Hence, the inclusion of functional proteins in consumers diets is on the rise. Furthermore, the steadfast economic development of countries and the rising per capita income of the millennial population is fueling the demand for functional proteins, as consumers can now afford to purchase higher-priced functional food products on account of their increased disposable income.
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Drivers : Rise in prevalence of chronic lifestyle diseases to drive the market growth
There is a significant rise in the number of people suffering from chronic ailments, such as obesity, diabetes, blood pressure, and cardiovascular diseases. Hence, consumers across regions have become more health-conscious and are focusing on adopting a healthier balanced diet. This shift in consumer preferences has risen on account of the high degree of chronic diseases prevailing in the population. Diseases like diabetes, cholesterol anomalies, and obesity are key factors that are projected to drive the overall functional proteins market.
The growing health and wellness trends among consumers due to chronic diseases will further drive the demand for functional proteins in the daily dietary intake of consumers. Consumers are also seeking options that provide the right combination of nutrition and taste, which leads to a rise in demand for functional proteins, which is further projected to contribute to the growth of the market.
Opportunities: Technological advancements in the functional proteins market
The recent advancements in technologies, such as microarray technology, protein hydrolysis, and protein powder manufacturing, to promote health benefits are highly likely to present growth opportunities for the key players in the functional proteins market. Numerous innovations have been observed in high throughput protein production.
New technological developments, such as the heat-stable form of whey protein, are expected to impact the global functional proteins market positively. Novel varieties of soy proteins that do not change the texture of baked goods have also been developed. Furthermore, recent advancements in the development of colostrum milk on account of exhibiting significant functional properties aimed at improving hormone growth are expected to drive the increase in consumption of functional proteins, creating growth opportunities for the market.
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North America is projected to account for the largest market during the forecast period
North America is projected to dominate the market during the forecast period owing to the high prevalence of chronic diseases in countries such as the US. Whey protein concentrates are gaining traction as consumers are shifting to dairy proteins to fulfill their nutritional requirements. On the other hand, there has been an increase in the number of vegan consumers, majorly in the North American and European regions. Emerging markets in economies such as the Asia Pacific countries are going to be potential markets for functional protein manufacturers.
Worlds Largest Functional Protein Brands:
Key players in this market include ADM (US), DuPont (US), Cargill (US), Ingredion (US), Arla Foods (UK), Roquette (France), BASF (Germany), Glanbia (Ireland), Fonterra (New Zealand), DSM (Netherlands), FrieslandCampina (Netherlands), Essentia Protein Solutions (UK), Amai Proteins (Israel), Mycorena (Sweden), Merit Functional Foods (Canada), Plantible Foods (US), BENEO (Germany), ProtiFarm (Gelderland), Omega Protein (US)
