“The functional proteins market is projected to grow at a significant rate”
The functional proteins market is projected to grow at a CAGR of 6.6% from 2017, to reach USD 5.73 billion by 2022. The demand for functional proteins is expected to be on the rise, owing to factors such as an increase in the demand for animal-derived proteins in applications such as sports & fitness nutrition and infant nutrition. Development of various forms of protein ingredients such as concentrates and isolates by the manufacturers for food products such as dairy, beverages, dietary supplements, infant formula, bakery, confectionery, and other food products is expected to drive the growth of the functional proteins market. Also, the shifting trend of consumers toward health and wellness is another significant driver for the global functional proteins market. However, stringent regulations pertaining to animal proteins and high R&D costs are some of the major restraints for the growth of the functional proteins market.
“Dietary supplements application is projected to be the fastest-growing in the functional proteins market”
The dietary supplements segment is projected to grow at the highest rate between 2017 and 2022, in terms of both volume and value, among all other applications. Whey proteins, as a diet supplement, have been increasingly preferred by consumers of all ages. One of the upcoming trends is the intake of protein powders, which promotes health benefits such as muscle gain and fat loss.
“Asia-Pacific is estimated to be the fastest-growing region in the market”
The Asia-Pacific region is estimated to be the fastest-growing, in terms of both value and volume, in the global functional proteins market, in 2017. It comprises developing economies such as China, Japan, Australia, and New Zealand, which are the fast-growing markets for functional proteins in the region. Major players such as Kerry Group plc (Ireland) and Arla Foods amba (Denmark) are expanding their presence in the region by making investments for building production facilities to cater to the increasing demand for protein-based products, thereby broadening the base for the functional protein business in the region. Rest of Asia will be the largest market for functional proteins during the forecast period.
Break-up of primaries:
- By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C level – 25%, Directors – 30%, and Manager level – 45%
- By Region: North America - 20%, Europe – 25%, Asia-Pacific – 40%, and RoW – 15%
The functional proteins market has been segmented on the basis of type, source, application, form, and region. In terms of insights, this research report has focused on various levels of analyses?industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global functional proteins market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To buy this report:
- To get an overview of the global functional proteins market
- To get an overview of the key players of the functional proteins industry and product portfolios and key strategies adopted by key players to attain market presence
- To gain insights of the major regions in which the functional proteins market is growing
- To gain knowledge about the development of various functional proteins