According to MarketsandMarkets, the global functional proteins market size is estimated to be valued at USD 4.6 billion in 2020 and projected to reach USD 6.1 billion by 2025, recording a CAGR of 5.6% during the forecast period. The growing prevalence of chronic diseases and rising awareness regarding health-beneficiary on-the-go supplements are expected to contribute to the growth of the functional proteins market.
“By type, whey protein concentrates segment is projected to dominate the market during the forecast period.”
Whey protein concentrates are most popular functional proteins. This is attributed to the wholesome nutritional benefits of dairy proteins as they contain all nine essential amino acids which provides overall dietary balance. With the outbreak of a pandemic, manufacturers are increasingly investing in production of functional proteins owing to its nutritional benefits and immunity-boosting qualities which is projected to drive the growth of the market.
“By application, functional food segment is projected to dominate the market during the forecast period.”
The functional food segment is projected to capture the largest market during the forecast period. This growth can be attributed to the increasingly hectic lifestyles of consumers which has risen the demand for on-the-go functional food and beverage products which save preparation and consumption time. The rising health-consciousness among consumers as chronic diseases prevail in large amounts is also one of the key reasons driving the growth of the functional food segment.
“The Asia Pacific region is projected to record the highest growth rate during the forecast period.”
The Asia Pacific region is projected to record a higher growth rate during the forecast period. This is attributed to the rise in chronic lifestyle diseases such as diabetes, obesity and cholesterol level anomalies among Asian consumers. In addition, developing countries like China, India and Japan are witnessing significant economic development which has led to a rise in the demand for functional proteins as consumable on-the-go products. Consumers can now afford to purchase high-priced functional food products on account of the rising disposable income at their end. Surging internet penetration regarding the ongoing health and wellness trend among the millennial population is also a driving factor for the functional proteins market.
The functional proteins market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America and Rest of the World including Africa and the Middle East.
Break-up of Primaries
- By Value Chain: Supply-side – 59% and Demand-side - 41%
- By Designation: CXO – 31%, Managers - 24%, and Executives - 45%
- By Region: Europe - 19%, North America - 24%, APAC- 32%, South America- 15%, RoW- 10%
This report segments the functional proteins market based on type, source, form, application and region. In terms of insights, this research report focuses on various levels of analyses?competitive landscape, pricing insights, end-use analysis, and company profiles which together comprise and discuss the basic views on the emerging & high-growth segments of the functional proteins market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
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