Functional Protein Market is projected to touch USD 8.8 billion in 2029, registering 6.1% CAGR during 2022-2029 | Size, Share & Forecast

Functional Protein Market size was evaluated to be USD 5.5 billion in 2021 and is estimated to reach USD 8.8 billion in 2029, rising at a CAGR of 6.1% from 2022-2029.

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/functional-proteins-market-analysis-industry-research/

The factors driving the growth of Functional Protein Market includes increasing prevalence of diabetes, obesity, and other chronic diseases, growing demand for plant-based protein products, rise in consumers spending on healthy supplements and improvements in the living standards. Moreover, rapid growth in the animal feed industry, growing demand for dairy derivatives, rise in the launch of innovative products and increasing popularity of whey-based protein sports beverages across the globe, are some of the additional factors supplementing the Functional Protein Market share. In addition, the increasing investments by major companies on research and development, strategic mergers, and partnerships between key industry leaders, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Functional Protein Market is hindered due to high cost of functional protein drinks.

The major players operating in the Functional Protein Market are Cargill, Incorporated, SunOpta, DuPont, ADM, DSM, BASF SE, Roquette Frères, Ingredion, Fonterra Co-operative Group Limited, and Glanbia PLC, among others.

Based on Type, the Hydrolysates segment is predicted to grow at a significant CAGR during the forecast period

Increasing application of hydrolysates in production of manufacturing infant and nutrition products, is major factor propelling growth of the segment.

Based on Form, the Liquid segment is projected to expand at a robust CAGR over the forecast period

Growing demand for dietary protein-based juices and functional beverages across the globe, is pushing segment's growth.

Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period

Rising prevalence of diabetes across United States and Canada, increasing demand for plant based products, rapid industrialization, growing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Developments

In 2020, Cargill, Incorporated expanded its European ingredient portfolio by adding pea protein. Through this expansion, the company planned to get access to the pea protein market.
In 2020, ADM extended their protein portfolio offering with the textured wheat and pea proteins. The high-functionality proteins enhanced the meat-like texture of alternative meats.

Market Segmentation

Segmentation by Type

Hydrolysates
Whey Protein Concentrates
Whey Protein Isolates
Casein/Caseinates
Soy Protein
Others

Segmentation by Source

Animal Source
Plant Source

Segmentation by Application

Functional Food
Functional Beverages
Dietary Supplements
Sports Nutrition
Animal Nutrition

Segmentation by Form

Dry
Liquid

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.