Functional Protein Market is Global Estimated to Grow at a CAGR of 3.78% by Forecast to 2022

Global Functional Protein Market has witnessed continued demand during the last few years and is projected to reach 2,280 kilo tons by 2022, at a CAGR of 3.78% by 2022

pune, India - September 5, 2019 /MarketersMedia/

Market Overview
The Global Functional Protein Market is expected to grow at a CAGR of 3.78% over the forecast period from 2016 to 2022, 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 2022, 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 centres in developed Western countries and is likely to remain a key driver for the functional protein market over the forecast period.

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Competitive Analysis
Leading players in the global Functional Protein Market include

• Glanbia PLC,
• GNC Holdings Inc.,
• NBTY Inc.,
• MAXINUTRITION,
• Shandong SINOGLORY Health Food Co. Ltd.,
• Herbalife Ltd.
• Archer Daniels Midland Company

Industry Updates
In February 2018, The Nature’s Bounty Co. acquired The Best Bar Ever to increase its functional food portfolio.

In August 2019, Shiru, a new Y combinator backed startup, was launched to detect specific proteins and other chemicals in a scientific manner and develop direct applications for the same in the food and beverage industry.

Segmentation
The global functional protein market is segmented based on source, function, delivery, distribution channel, and region.

Based on 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 2016 to 2022. The segment is expected to reach 1070 kilotons by 2022, 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.

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Regional Analysis
The global functional protein market is segmented into North America, Europe, Asia Pacific, and rest of the world based on region.

Europe dominates the global functional protein market 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. The growing demand for weight management and bodybuilding supplements in Europe is likely to be the major driver for the functional protein market in the region over the forecast period. Functional protein companies are also present in large numbers in Europe, which is likely to be a key driver for the functional protein market in the region over the forecast period. Growing awareness about plant consumption and veganism in Europe is also likely to be a major driver for the functional protein market in the region over the forecast period, as plant protein is likely to dominate the market dynamics in the region in the coming years.

Asia Pacific is likely to exhibit the highest CAGR of 5.48% over the forecast period from 2016 to 2022. The Asia Pacific market is majorly driven by the growing awareness about functional protein and the various benefits of proteins. Increasing demand for plant proteins is also likely to be a key factor for the functional protein market in Asia Pacific, as the vegetarian traditions in many parts of the region are likely to drive the demand for plant-based proteins.

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Organization: market research future
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Phone: 6468459312
Website: https://www.marketresearchfuture.com/reports/functional-protein-market-2330

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Source: MarketersMedia

Release ID: 88915621

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