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The rising demand for high protein, nutritious products across the globe has expanded the application area of functional proteins. Functional proteins are biologically active proteins that help in maintaining normal functions of a human body. They are readily used in dietary supplements as a base to increase its nutritional value. Functional proteins are extensively used in infant nutrition products as they are easily absorbed by the body. The rising demand for functional foods and beverages especially in developed markets is fuelling the growth of the functional proteins market.
The demand for plant-based functional proteins is increasing owing due to the rising popularity of vegan diets and plant-based products. Plant-based ingredients have been known to disrupt the organoleptic value of certain class of products. The prominent companies are investing in research and development of solutions to improve the quality of plant-based functional ingredients. For instance, in October 2019, Merit Functional Foods introduced pea and canola protein ingredients that exceed industry standards for purity, solubility, taste and other key attributes.
Key Market Driver -
Robust Demand for Protein-based Supplements
Key Market Restraint -
High Cost of Production of Functional-Proteins
Functional proteins have a strong demand among fitness enthusiasts for muscle development. Animal proteins such as whey and casein are branded with claims such as “enhancing muscle growth and development”. The increasing promotions by fitness centers to increase the sales of protein-based supplements are expected to boost the growth of the market. The key manufacturing companies are focused on the development and launch of various products to meet the growing demand among fitness enthusiasts. For instance, in November 2019, Arla Foods Ingredients launched a 100% whey protein isolate ingredient designed for ready-to-drink protein beverages.
The expensive technologies used for the manufacturing of functional proteins is expected to act as a primary restraint for the growth of the global functional proteins market. The high cost of types of equipment used in membrane filtration technology used for whey protein derivatives and solvent extraction technology used for plant-based protein derivatives is expected to hamper the growth of the market.
Amway, Arla Foods Ingredients Group, Kerry Group, General Foods Corporation, Glanbia Plc, Fonterra Co-Operative Group, The Archer Daniels Midland Company, Cargill, Inc., Ingredion Inc., and Nature’s Bounty Company, are the prominent players operating in the global functional proteins market
The global functional proteins market is segmented by its type, form, application, and geography. Whey protein is expected to witness robust growth due to its wide range of application in the food and beverage sector. Whey Protein is readily used as a base in various dietary supplements. The abundant availability of milk for the production of whey protein is also responsible for the strong growth of the market.
The demand for protein concentrates is high owing to its easy availability and low manufacturing cost as compared to other protein derivatives. The leading companies are focused on developing innovative products to meet the rising demand for protein concentrates. For instance, in April 2018, Glanbia Nutritionals launched new performance nutrition ingredients, WheyXR, a whey protein concentrate for fitness products, in Europe, Middle East, and Africa.
The application of functional proteins for the dietary supplements segment is expected to witness strong growth owing to the increased popularity of nutraceuticals across a wide consumer base. The growing awareness of the health benefits of consuming functional foods and supplements I s driving the demand for functional proteins in dietary supplements. Functional proteins are widely being used for the formulation of pregnancy nutrition and infant nutrition products. The key companies are providing innovative products to cater to the growing demand for protein-based supplements. For instance, in November 2019, Arla Foods launched Lacprodan MFGM-10, a whey protein concentrate for supplements to support a child’s cognitive development during pregnancy and lactation.
North America region is expected to witness strong growth owing to increasing research and development activities in the region. The dominance of key companies in the region contributes to the rapid growth of the market. The penetration of health benefits of functional proteins across all the countries in the region is responsible for the growth of the market. The key companies are focused on mergers and acquisitions to expand their business. For instance, in June 2018, U.S.-based protein supplier Essentia acquired Scanflavaour, one of the largest producers of functional proteins and ingredients.
Europe is expected to witness the promising growth of the functional proteins market on account of the growing health consciousness and evolving dietary patterns. The interest in plant-based products and ingredients continues to dominate food and beverage trends mainly because of the rising popularity of vegan and flexitarian diets in the region. The key companies are focused on providing plant-based solutions to meet the growing demand. For instance, in December 2019, Ingredion, Inc., launched its first plant-based protein isolate in Europe, Middle East & Africa. The newly launched product can be utilized for a variety of applications such as nutrition bars, ready-to-drink functional beverages, and snacks.
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Asia Pacific is expected to witness sturdy growth due to the high demand of functional proteins in sports nutrition products. The rising awareness about functional foods and beverages and evolving buying patterns in developing markets are responsible for the growth of the market in the region. The high cost of functional proteins has a strong effect on buying patterns in developing markets in the region. The companies are launching cost-effective products to expand their business in the region. For instance, Singapore-based sports nutrition start-up Lion Lab Nutrition launched whey concentrate products of high quality at a low cost.
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