The global market for functional protein has witnessed continued demand during the last few years and is projected to reach 2,280 kilo tons by 2022, at a CAGR of 3.788% by 2022. Increase in demand of functional protein across functional segments particularly for sport nutrition and digestive nutrition is likely to drive the global functional protein market.
Europe will continue to dominate the functional protein market with more than 35% market share and it is projected to reach more than 828 kilo tons with CAGR of 2.36% by 2022. APAC will witness the higher growth rate (~5.48%) during forecast period 2016 to 2022. North America region will witness the growth of 4.88% in functional protein market for the same period. Growing popularity of sport nutrition and weight management nutrition in Europe is driving the market growth. Changing lifestyle and increasing awareness about health benefits of functional protein in Asia Pacific region is playing a key role in the market growth from last few years.
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The leading market players in the global functional protein market primarily are Glanbia Plc.(Ireland), Archer Daniels Midland Company (U.S.), GNC Holdings Inc (U.S.), Herbalife ltd (U.S.), NBTY, Inc. (U.S.), Shandong sinoglory health food co., ltd (China) and MaxiNutrition (U.K.)
Plant protein will witness the higher growth rate (~4.29%). By 2022, plant sourced functional protein market in world will reach more than 1070 kilo tons. Easy manufacturing process and availability of raw material is supporting the growth of animal based functional protein. Increasing production of soy and other raw materials for plant protein is influencing the higher growth rate of plant protein.
By 2022, weight management nutrition will reach 640 kilo tons with CAGR of 3.97%. Increasing sport activities and gym activities is creating the huge demand of sport nutrition in the market. Due to busy lifestyle and consumption of unhealthy food, digestive system of consumers is getting affected. Functional protein has been very effective to boost digestive system compare to other medicines available in the market which is supporting the functional protein market.
Supermarket will continue to dominate the functional protein market with 26% market share and it is projected to reach 600 kilo tons with CAGR of 2.9% by 2022. E-commerce will witness the higher growth rate (~4.94%) during forecast period 2016 to 2022. By 2022, nutrition specialty store will reach 460 kilo tons with CAGR of 3.96%. The sales of functional protein through e-commerce will witness significant growth in upcoming years due to increasing number of internet user and availability of various functional protein products on the e-commerce websites especially in developed countries like France and U.S.
Latest Industry News:
Feb 2018 The Best Bar Ever has been bought by The Nature’s Bounty Co. who are expanding their portfolio of functional food with this acquisition. The Nature’s Bounty Co., which is a supplement manufacturer purchased the nutrition bar maker, The Best Bar Ever to further diversify its products in performance nutrition. The new association agreeably supplements the company’s existing nutrition and sports portfolio.
Jan 2018 The U.S. FDA lately approved the BB-301 orphan drug rank gene therapy for the management of OPMD, of Benitec Biopharma. OPMD is initiated by an alteration of the poly(A)-binding protein nuclear 1 gene. The subsequent faulty protein can form insoluble aggregates related with muscle weakness. Benitec presented that a molecular biology approach known as DNA-directed RNA interference (ddRNAi) can be used to shut down and substitute the mutant PABPN1 protein. The method also concurrently constrains the mutated protein and makes a functional protein to substitute it with.
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The global functional protein market is projected to reach 2,280 kilo tons by 2022 of 3.788%
Animal protein will continue to dominate the functional protein market with 49% market share and it is projected to reach 1,118 kilo tons with CAGR of 3.32% by 2022
Powder form will continue to dominate the functional protein market with 52% market share and it is projected to reach 1,190 kilo tons with CAGR of 3.91% by 2022