Functional Proteins Market Share, Size, Trends, Industry Analysis Report, By Form (Liquid, Dry); By Source; By Type; By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 117
- Format: PDF
- Report ID: PM2105
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global functional proteins market was valued at USD 5.39 billion in 2023 and is expected to grow at a CAGR of 5.7% during the forecast period.
Functional proteins are groups of biomolecules that play important roles in the structure, regulation, and functioning of living organisms. These proteins are involved in a wide range of biological processes, serving as molecular machines that carry out essential functions within cells and tissues. Enzymes, for example, are a type of functional protein that catalyze chemical reactions, facilitating the conversion of substrates into products.
The functional proteins market is experiencing notable growth driven by the increasing demand for these bioactive compounds in various industries. The growing awareness and emphasis on health and wellness have led to a rise in demand for functional foods and dietary supplements. Consumers are increasingly looking for products that offer additional health benefits along with basic nutrition, and functional proteins, with their ability to support muscle development, weight management, and overall well-being are gaining popularity. Also, the rising frequency of lifestyle-related diseases and the aging population have increased the focus on preventive healthcare rather than curative which is boosting the market for functional proteins.
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On the other hand, several factors pose threats and act as restraints in the market, such as regulatory hurdles and the need for compliance with strict quality standards. In addition, there is a need for continuous research and development to identify new sources of functional proteins and enhance their efficacy, which requires significant investments. Though there is a growing awareness and emphasis on health and wellness, still a large percentage of consumers are not aware of the benefits associated with functional protein which is negatively affecting the market growth.
Growth Drivers
- Increasing consumption of functional proteins in the form of dietary supplements drives market growth.
The functional proteins market is experiencing a significant rise in growth. As awareness of health and wellness continues to rise globally, consumers are actively seeking products that not only provide basic nutritional benefits but also offer additional functional advantages. Functional proteins, which include whey protein, casein, soy protein, and pea protein, among others, have gained immense popularity as key components in dietary supplements due to their diverse health-promoting properties.
Dietary supplements have become an important part of modern lifestyles, addressing nutritional disparities and catering to specific health and fitness goals. Functional proteins, known for their role in muscle development, weight management, and overall well-being, are important to the formulation of these supplements. Athletes, fitness enthusiasts, and sports players are increasingly incorporating protein supplements into their daily routines to support muscle recovery, enhance exercise performance, and meet their protein intake goals. The convenience of functional protein supplements contributes significantly to their growing consumption.
Report Segmentation
The market is primarily segmented based on form, source, type, application, and region.
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By Form |
By Source |
By Type |
By Application |
By Region |
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By Form Analysis
- The dry form of functional protein dominated the market in 2023.
Dry functional protein products, such as protein powders and concentrates, have gained popularity due to their convenience, adaptability, and ease of storage. Dry forms are popular due to their adaptability in various applications, such as dietary supplements, sports nutrition products, and food and beverage formulations. Dry protein powders can be easily incorporated into a diverse range of products, including protein shakes, bars, and baked goods, providing consumers with flexibility in how they meet their protein needs. The dry form also allows for optimum and precise dosing, enabling manufacturers to create products with specific protein content and nutritional profiles.
By Source Analysis
- The plant-based sources are expected to grow with a significant growth rate over the forecasted period.
The anticipated significant growth of plant-based sources in the functional protein market is due to increased demand for cruelty-free products. Plant-based functional proteins derived from sources such as peas, soy, and rice have gained immense popularity as alternatives to traditional animal-based proteins. Consumers are becoming more conscious of the impact of their dietary choices on personal health and the environment. Plant-based proteins are often perceived as healthier options, with lower levels of saturated fats and cholesterol compared to some animal-based proteins. Also, plant-based functional proteins are rich in essential nutrients, fiber, and antioxidants.
As more and more people shifted toward the trend of veganism, they started looking for plant-based sources of protein which aligns perfectly with principles of veganism. Owing to all these factors, the demand and sales of plant-based functional proteins are expected to rise at a significant growth rate.
By Application Analysis
- The functional food and beverages segment accounted for the largest revenue share in 2023.
The functional food and beverages segment has emerged as the leading contributor to the highest revenue share in the functional protein market because, as people become more proactive in managing their well-being, there is a growing inclination towards food and beverages that offer additional health benefits beyond basic nutrition. Consumers are increasingly seeking products that provide specific health advantages, such as muscle support, weight management, and overall vitality. Functional proteins, including variants like whey protein, casein, and plant-based proteins, are key ingredients in the formulation of various functional foods and beverages, ranging from protein-enriched snacks and drinks to meal replacements and sports nutrition products.
Regional Insights
- North America region is estimated to hold the largest market share in 2023.
North America region is estimated to hold the highest market share because the region's dominance in the industry is governed by a strong record of a health-conscious consumer base that is increasingly focusing on functional proteins as an essential component of their dietary supplements. The raised awareness of the relationship between nutrition and overall well-being has resulted in a demand for functional proteins, which offer a range of health benefits such as muscle development, weight management, and immune system support. North America is home to a flourishing food and beverage industry that has integrated functional proteins into a range of products, including snacks, beverages, and supplements. The region's advanced research and development capabilities have resulted in the creation of diverse and high-quality functional protein products.
The Asia Pacific region is expected to have significant growth in the functional protein market over the forecast period because the region's rising population, along with rising disposable incomes, has fueled a notable shift in dietary preferences towards healthier options. The region is witnessing a rise in investments and innovations within the food and beverage industry. Manufacturers are introducing a range of functional protein products, including fortified snacks, beverages, and dietary supplements.
Key Market Players & Competitive Insights
Manufacturers are expanding their operations and presence across various regions and entering new potential markets in developing regions to expand their customer base and strengthen their presence in the industry. The companies are also introducing new innovative products in the market to cater to the growing consumer demands.
Some of the major players operating in the global market include:
- Amai Proteins
- AMCO Proteins
- APC Inc.
- Archer Daniels Midland Company
- Arla Foods AMBA
- Aroma NZ Ltd
- BASF SE
- BENEO GmbH
- Cargill, Inc.
- DSM N.V.
- Essentia Protein Solutions
- Glanbia PL
- Ingredia SA
- Ingredion Inc.
- Kerry Group
- MGP Ingredients, Inc.
- Roquette Frères
- FrieslandCampina
Recent Developments
- In May 2023, VUUM, a health and wellness brand, launched a functional protein beverage product that is made from plant protein, green tea extract, guarana seed, amino acids, zinc, and magnesium.
- In December 2022, DSM, a human and animal health and nutrition company, launched high-quality functional proteins named Vertis CanolaPRO, which are formulated from canola seeds.
Functional Proteins Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 5.69 billion |
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Revenue Forecast in 2032 |
USD 8.88 billion |
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CAGR |
5.7% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Form, By Source, By Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements concerning countries, regions, and segmentation. |
FAQ's
Functional Proteins Market report covering key segments are form, source, type, application, and region.
Functional Proteins Market Size Worth USD 8.88 Billion By 2032
The global functional proteins market is expected to grow at a CAGR of 5.7% during the forecast period.
North America is leading the global market
The key driving factors in Functional Proteins Market growing awareness and emphasis on health and wellness have led to a rise in demand for functional proteins
