Functional Proteins Market Will Hit Big Revenues In Future

The global functional proteins market size is estimated to be valued at USD 4.6 billion in 2020 and is projected to reach USD 6.1 billion by 2025, recording a CAGR of 5.6% during the forecast period. The demand for functional proteins is increasing significantly owing to the shift in consumers’ food-related preferences and rising prevalence of chronic diseases. Rising health awareness and increase in disposable income across the globe are key factors that are driving the growth of the functional proteins market. The millennial population is capturing a large share of the market as the ongoing health and wellness trend ergo the surging internet penetration is altering consumer preferences and moving towards adapting protein-infused functional foods into their diets in order to maintain quality of life.

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The key players in this market include ADM (US), DuPont (US), Cargill US), DSM (Netherlands), BASF (Germany), Fonterra (New Zealand), FrieslandCampina (Netherlands), Glanbia (Ireland), Arla Foods (UK), Ingredion (US), Roquette (France), and Essentia Protein Solutions (UK).

ADM (US) offers a wide range of functional proteins having applications in human and animal nutrition. The company operates through four business segments, and it offers functional proteins under the nutrition segment. Their product portfolio is exhaustive and includes a wide array of soy proteins, wheat proteins, wheat gluten, and pea proteins. The company offers products in over 200 countries across the Americas, Europe, and Asia Pacific. It operates through 800 manufacturing facilities and processing plants across the globe. ADM showcases high brand recognition and is one of the most recognized players in the global functional proteins market.

DuPont (US) is a global chemical company based out of the US. It operates in four business segments, namely nutrition and biosciences, transportation and industrial, electronics and imaging, safety, and construction. Functional proteins are offered under the nutrition and biosciences segment. The company houses a vast portfolio of plant-based proteins, including carob, soy, and pea proteins. It has a strong and global consumer base with various brands under its umbrella. It has a geographic reach encompassing 175 locations across South America, North America, Africa, Asia Pacific, Europe, and the Middle East.

The market for plant proteins is growing at a high rate as consumers are drifting away from animal proteins to plant-based proteins. Increasing shifts to veganism, environment sustainability, and animal compassion are the key factors cumulatively leading to the demand for plant-based proteins as alternative functional ingredients. Thus, the plant-based protein market is expected to witness high demand and a surging growth rate, presenting a number of opportunities for expansion and investment in the market.

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North America is projected to dominate the market during the forecast period owing to the high prevalence of chronic diseases in countries such as the US. Whey protein concentrates are gaining traction as consumers are shifting to dairy proteins to fulfill their nutritional requirements. Emerging markets in economies such as the Asia Pacific countries are going to be potential markets for functional protein manufacturers.