The scope of “Global Functional Proteins Market Forecast t2027 – 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),” involves understanding the factors supporting the growth of the functional proteins market, estimating and forecasting the revenue and market share analysis, and spotting significant market players and their key developments.
The global functional proteins market was valued at US$ 10,297.91 million in 2019 and is projected treach US$ 17,767.48 million by 2027; it is expected tgrow at a CAGR of 7.2% during 2020–2027. Consumers are more inclined toward wellness, health, and nutrition content. Food industry is continuously introducing new products considering the adoption of healthy lifestyle 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 required for the structure, function, and regulation of the body’s tissues and organs. The awareness among consumers regarding the benefits offered by functional proteins is contributing significantly tthe growth of the functional proteins market. In addition, increasing disposable income of consumers in emerging economies in Asia Pacific, Middle East, and Africa, and South America contributes tthe market growth.
Based on form, the global functional proteins market is bifurcated intdry and liquid. The dry segment dominated the market in 2019. Dry protein concentrate is highly employed in nutritional supplements. Protein is an essential macronutrient that helps build muscle, repair tissue, and make enzymes & hormones. Protein powder can alsaid weight loss and help consumers tone their muscles. Whey protein concentrates are basically used as ingredients in many food applications such as confectionery, snack foods, bakery products, yogurts, dips, desserts, meat products, ice cream, soups, pasta products, sauces, beverages, and processed cheese products.
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 worst affected countries in terms of confirmed cases and reported deaths. According tthe latest WHfigures, 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 due tlockdowns, travel bans, and business shutdowns. The global food and beverage industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns, etc. The lockdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East, and Africa restricts the global supply chains and hinders the manufacturing activities, delivery schedules, and various goods sales. Transportation is alsa major concern as many borders are closed due tthe global travel bans imposed by countries in Europe, Asia, and North America. This alsdisrupts business collaborations and partnerships opportunities. All these factors have restrained the growth of the functional protein market.
Based on geography, the global functional proteins market is segmented intNorth America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific accounted for the largest share of the market in 2019, followed by North America.
Global Functional Proteins Market Breakdown—by Region, 2019
The Report Segments Global Functional Proteins Market as Follows:
Functional Proteins Market – by Type
Functional Proteins Market – by Source
Functional Proteins Market – by Form
Functional Proteins Market – by Application
- Functional Foods
- Functional Beverages
- Dietary Supplements
- Animal Nutrition
Functional Proteins Market – by Geography
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- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
- South America
- Rest of South America
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