June 16, 2024
Functional Protein Market

Functional Protein Market is Estimated to Witness High Growth Owing to Rising Popularity of Sports Nutrition and Wellness Products

The functional protein market comprises food ingredients rich in protein that provide additional health and performance benefits. Functional proteins are commonly used in sports nutrition, clinical nutrition, weight management, and general wellness products as they help build muscle mass, improve recovery, boost satiety, and support weight loss goals. Protein ingredients derived from soy, wheat, potatoes, and other plant and animal sources are modified through various processes such as fractionation, isolation, concentration, and texturization to improve their functional properties. They find widespread use in protein powders, bars, snacks, meal replacements and ready-to-drink beverages. The growing health consciousness and shift towards preventive healthcare have resulted in increased demand for functional foods and beverages fortified with proteins.

The Global functional protein market is estimated to be valued at US$ 5.1 Bn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the functional protein market are ADM, Cargill, Ingredion, Arla Foods, Roquette, BASF, Glanbia, Fonterra, DSM, FrieslandCampina, Essentia Protein Solutions, Amai Proteins, Mycorena, Merit Functional Foods, Plantible Foods, BENEO, ProtiFarm, Omega Protein. ADM and Cargill are the market leaders owing to their diversified product portfolio and global production footprint.

The functional protein market is expected to witness numerous growth opportunities due to the rising demand for specialized sports nutrition programs, vegan and plant-based dietary options, and customized clinical diets. Plant-based proteins featuring specific amino acid profiles are gaining prominence.

Technological advancements in protein fractionation and modifications are helping manufacturers develop proteins concentrated with specific essential and branched-chain amino acids. Global Functional Protein Market Size Enzyme-based texturization methods are enabling customized textures for various applications. Rising investments in alternative protein research from startups will further drive innovations.

Market Drivers: The increasing health-consciousness and focus on wellness lifestyles among consumers is a key growth driver for functional proteins. Rapid expansion of the sports nutrition and supplements industry catering to recreational athletes and gym goers creates strong demand. Moreover, growing elderly population and prevalence of lifestyle diseases have boosted the clinical nutrition space supporting the market growth.

Current challenges in the Functional Protein Market
The functional protein market is facing various challenges currently including high initial investments required for R&D in product development, lack of awareness among consumers about the benefits of functional proteins, and price sensitivity of consumers in developing regions. Additionally, maintaining quality standards and ensuring safety and efficacy of new functional protein ingredients is also a challenge for players in this market.

SWOT Analysis
Strength: Wide range of health and nutritional benefits of functional proteins leading to increasing demand. Weakness: High R&D costs and investments required for product innovation. Opportunity: Growth in vegan population driving demand for plant-based functional proteins. Threats: Intense competition among existing players and threat of substitute products.

Geographical Regions
North America currently accounts for the largest share of the global functional protein market, both in terms of value and volume. This is attributed to factors such as growing health consciousness, technological advancements, and presence of major players in the region.

Fastest Growing Region
Asia Pacific region is expected to witness the fastest growth in the functional protein market during the forecast period. This can be attributed to rising incomes, growing middle class population, and their focus on health and fitness in countries such as China, India and other Asian countries.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it