According to the new market research report “Functional Proteins Market by Type (Whey Protein Concentrates, Isolates, Hydrolysates, Casein, Soy Protein), Source (Animal, Plant), Form (Dry, Liquid), Application and Region – Trends and Forecast to 2025″, published by MarketsandMarkets™, the global Functional Proteins Market size is estimated to be valued at USD 4.6 billion in 2020 and projected to reach USD 6.1 billion by 2025, recording a CAGR of 5.6% during the forecast period.
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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 functional food segment, by application, is projected to witness significant growth during the forecast period.
The deficiency of proteins in adults is one of the key factors that have led to the rise in the consumption of functional food products among adults. This deficiency is mainly due to the untimely schedules and hectic lifestyles of consumers, which leads to unhealthy eating habits and irregular diets. As a result, there is a demand for healthy, on-the-go functional food products which significantly reduce consumption time while providing essential nutrition.
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The North American region dominates the functional proteins market with the largest share in 2020.
North America is projected to hold the largest share in the functional proteins market. This dominance is driven by the prevalence of chronic diseases due to the hectic lifestyles and increasing awareness among consumers regarding the health benefits of consuming functional proteins. Also, obesity is on the rise among the North American population, especially the US. According to the CDC, in the US, the obesity prevalence was 39.8% and affected about 93.3 million adults between 2015 and 2016. Such factors are projected to drive the growth of the functional proteins market.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, ADM (US), DuPont (US), Cargill (US), Ingredion (US), Arla Foods (UK), Roquette (France), BASF (Germany), Glanbia (Ireland), Fonterra (New Zealand), DSM (Netherlands), FrieslandCampina (Netherlands), Essentia Protein Solutions (UK), Amai Proteins (Israel), Mycorena (Sweden), Merit Functional Foods (Canada), Plantible Foods (US), BENEO (Germany), ProtiFarm (Gelderland), and Omega Protein (US).