Increasing popularity of functional food and dietary supplements among athletes and working population is likely to surge the global functional proteins market owing to high consumption of protein rich diet. Additionally, mounting growth in functional foods such as infant food, food supplements for expecting women and animal feed is projected to have a substantial influence on the market growth.
Functional proteins are food or feed ingredients that have additional health support when consumed in form of food or feed. For example, soybean is rich in trypsin content which is beneficial in improving gut health and also aids in improving digestion. Additionally, high consumption of soy-protein foods aided with additional health benefits is supporting the market growth at global level. Furthermore, growing awareness towards animal health among the livestock holders is considered to be key driving factor for high consumption of functional proteins which has a direct impact on the growth of functional proteins market. Additionally, ongoing R&D activities in functional proteins are adding fuel in the growth of functional protein market.
Furthermore, high acceptance of natural ingredients and green label products in nutraceutical and functional food is supporting the growth of functional protein market. Additionally, regulatory approval from government agencies such as European Commission (EU) for the use of functional ingredients in food fortification in functional food is anticipated to grow the global functional protein market.
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Latest Industry Updates
Nov-2017 New Zealand dairy giant Fonterra acquired American whey protein concentrate and lactose manufacturer. This acquisition will help in strengthening company’s base and also bring up with new protein based animal feed products.
Jan 2017 DURHAM, N.C. a personal care brand Burt’s Bees has announced its new functional food category with the introduction of plant-based protein shakes.
Sep 2017 Kellogg invests in mushroom protein company. Kellogg is a leading player in the breakfast meal products. This will help in increasing the company revenue and will allow also to come up with high quality functional supplements.
Nov 2017 Arla Foods Ingredients’ new complementary Feeding range has harnessed the goodness of whey protein in a range of food product concepts that deliver benefits for gut health, allergy management, healthy growth and bone development.
Major Key Players:
The major key players are highly focused on R&D activities to launch new products. Also, companies are more inclined towards soy-protein ingredient in functional and nutraceutical food owing to supplemented benefits associated with the consumption of functional protein. With the entry of industry players in the functional protein segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. Major key players in this market are looking towards acquisitions and mergers this will allow the companies to come up with specialized products. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvements and financial flexibility to invest in the optimal strategies.
The key players profiled in functional protein are as Glanbia Plc. (Ireland), Archer Daniels Midland Company (U.S.), GNC Holdings Inc (U.S.), Herbalife ltd (U.S.), NBTY, Inc. (U.S.), Shandong sinoglory health food co., ltd (China) and MaxiNutrition (U.K.)
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The Global Functional Protein Market has been divided into source, function, delivery format, form and region.
· On the Basis of Source: Animal Protein, Plant Protein and Others
· On the Basis of Function: Sport Nutrition, Weight Management Nutrition, Digestive Nutrition and Others
· On the Basis of Delivery Format: Powder, Bars, Liquid and Others
· On the Basis of Distribution Channel: Supermarket, Nutrition Specialty Stores, Convenience Store, Pharmaceutical Store, E-Commerce and Others
· On the Basis of Region: North America, Europe, Asia Pacific and ROW.
The global Functional Protein Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global functional protein market is highly dominated by North America and Europe owing to high consumption of nutritive and functional dietary supplement in regular meals. Additionally, growing health awareness among the consumers regarding nutritive diet is considered to be key driving factor in this region. APAC is fastest growing region due to high adoption rate in nutraceutical and functional foods. Also, functional food in infant formula is adding fuel in the growth of functional protein market in this region. The consumption of functional protein in developing counties like India, and China is anticipated to grow in forecast period.
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