According to our latest market study on "Functional Proteins Market Forecast to 2027 - COVID-19 Impact and Global Analysis - Type (Hydrolysates, Concentrates, and Isolates), Source (Plant and Animal), Form (Dry and Liquid), and Application (Functional Foods, Functional Beverages, Dietary Supplements, Animal Nutrition, and Others)," The market was valued at US$ 10,297.91 million in 2019 and is projected to reach US$ 17,767.48 million by 2027; it is expected to grow at a CAGR of 7.2% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Consumers are more inclined toward wellbeing, health, and nutrition content. Food industry is continuously introducing new items considering the adoption of healthy way of life among consumers. Among functional food ingredients, protein is one of the significant ingredients that are naturally found in the range of animal and plant sources. Proteins are crucial for the smooth body functioning, and are expected for the design, function, and regulation of the body's tissues and organs. The awareness among consumers regarding the benefits offered by functional proteins is contributing significantly to the growth of the functional proteins market. In addition, increasing disposable income of consumers in emerging economies in Asia Pacific, Center East, and Africa, and South America contributes to the market growth.
Functional proteins are a complex combination of biologically active proteins that backings and maintains normal resistant function. Nowadays, the populace overall is inclined toward a healthy way of life and is spending considerably on nutritional items. Functional proteins assist in lowering the blood with pressuring that is a major cause of heart attracts, strokes, and chronic kidney diseases. According to the estimates of Habitats for Disease Control and Prevention, nearly half of adults in the US are affected by hypertension and are taking medication for hypertension. Furthermore, the rate of patients suffering from obesity is escalating across the globe. Obesity leads to various health issues like heart disease, type 2 diabetes, stroke, and certain types of cancer. For instance, according to the Communities for Disease Control and Prevention, the prevalence of obesity in the US was 42.4% in 2017-2018. To overcome such issues, the populace is exploring new strategies to stay fit and decide on healthy ways of life. Such instances are estimated to increase the demand for foods improved with functional proteins, aiding in the market expansion.
A few of the major key players operating in the global functional proteins market are AMCO Proteins; APC INC; FrieslandCampina; Abbott Nutrition; Archer Daniels Midland Company; Arla Foods Ingredients Group; Cargill, Incorporated; Glanbia plc; DSM; Real Dairy Australia Pty Ltd.; Fonterra Co-operative Group Limited; Kerry; and Saputo Ingredients.
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the most horrendously awful affected countries with regards to confirmed cases and reported deaths. According to the latest WHO figures, there are ~108,579,352 confirmed cases and 2,396,408 total deaths globally. The outbreak has adversely affected economies and industries in various countries because of lockdowns, travel bans, and business closures. The global food and beverage industry is one of the major industries suffering serious disruptions, for example, store network breaks, innovation occasions cancellations, office closures, and so on. The lockdown of various plants and factories in leading regions like North America, Europe, Asia Pacific, South America, and the Center East, and Africa confines the global stock chains and hinders the manufacturing activities, conveyance plans, and various products sales. Transportation is also a major concern as many boundaries are shut because of the global travel bans forced by countries in Europe, Asia, and North America. This also disrupts business collaborations and partnerships opportunities. All these factors have restrained the growth of the functional protein market.
