Market Overview
The global functional protein market is expected to grow at a CAGR of 4.10% over the forecast period from 2022 to 2030, according to a new research report from Market Research Future (MRFR). The global functional protein market is expected to reach a volume of 2,280 kilotons by 2030, according to MRFR.
Functional protein is used in sports nutrition products as well as other regular dietary products to increase protein consumption and provide nutrition to the consumer. The growing demand for sports nutrition among consumers in developed regions is likely to be a major driver for the global functional protein market. The increasing preference for active, fitness-oriented lifestyles has driven the demand for sports nutrition products in urban centers in developed Western countries and is likely to remain a key driver for the functional protein market over the forecast period. The growing demand for protein shakes and other protein beverages is also likely to drive the global functional protein market Share over the forecast period. The rising development of new and diverse flavors in protein shakes is likely to draw more consumers to the market, driving the demand for functional protein over the forecast period. This is likely to be a key driver for the global functional protein market over the forecast period, as sports nutrition beverages are likely to be a highly popular segment among consumers.
The animal feed industry is also likely to account for a significant share in the global functional protein market over the forecast period. The growing difficulties in providing animals with a natural, well-balanced diet have resulted in the growing demand for animal feed additives that can improve the quality of the meat and keep the animal healthy. The growing demand for protein additives in the animal feed industry is likely to be a major driver for the global functional protein market over the forecast period, as the growing demand for meat and meat products has driven the demand from the animal feed industry over the last few years.
Segmentation:
The global functional protein market is segmented on the basis of source, function, delivery, distribution channel, and region.
On the basis of source, the global functional protein market is segmented into plant protein, animal protein, and others. Plant protein is likely to dominate the global functional protein market in the future, with growth expected for the segment at a higher 4.29% CAGR over the forecast period from 2022 to 2030. The segment is expected to reach 1070 kilotons by 2030, due to the growing support for the vegetarianism, veganism, and animal rights movements.
By function, the global functional protein market is segmented into digestive nutrition, sport nutrition, weight management nutrition, and others. Sport nutrition is likely to remain a key segment for the global functional protein market along with weight management nutrition due to the growing awareness about health and fitness among the global population.
By delivery format, the global functional protein market is segmented into capsules, powders, liquids, creams, and others.
By distribution channel, the global functional protein market is segmented into supermarkets, hypermarkets, pharmaceutical stores, convenience stores, and ecommerce. Supermarkets are likely to be the major distribution channel for the global functional protein market over the forecast period. Ecommerce is expected to witness a higher CAGR of 4.94% over the forecast period.
Regional Analysis:
The global functional protein market is segmented into North America, Europe, Asia Pacific, and rest of the world on the basis of region.
Europe dominates the global functional protein market Trends with a share of more than 35% and is expected to remain the leading regional segment of the market over the forecast period due to the widespread awareness about functional proteins. Asia Pacific is likely to exhibit the highest CAGR of 5.48% over the forecast period from 2022 to 2030.
Competitive Analysis:
Leading key functional protein market players in the global include Glanbia PLC, GNC Holdings Inc., NBTY Inc., MaxiNutrition, Shandong Sinoglory Health Food Co. Ltd., Herbalife Ltd., and Archer Daniels Midland Company.
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