PUNE, India, April 24, 2017 /PRNewswire/ --
The report "Functional Proteins Market by Type (Hydrolysates, Whey Protein Concentrates, Whey Protein Isolates, Casein/Caseinates, and Soy Protein), Application (Functional Foods, Functional Beverages, Dietary Supplements, and Animal Nutrition), Source (Plant and Animal), Form (Dry and Liquid), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the global market is estimated to be valued at USD 4.17 Billion in 2017 and projected to reach USD 5.73 Billion by 2022, at a CAGR of 6.6%.
Browse 72 market data Tables and 67 Figures spread through 156 Pages and in-depth TOC on "Functional Proteins Market"
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Functional proteins are widely used ingredients in food & beverage applications owing to their functional properties. Also, the growing demand for high-protein & nutritious products and an increase in the demand for premium protein ingredients have expanded the application areas of functional proteins in the food & beverage industry.
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Whey protein concentrates projected to be the largest segment
Whey protein concentrates accounted for the largest share of the Functional Proteins Market in 2016, due to their wide range of applications in the food & beverage industry owing to their easy availability and less cost as compared to hydrolysates and isolates. They find extensive usage in nutritional drinks, soups, bakery products, meat, dietetic foods, low-fat products, and protein-fortified beverages.
Dietary Supplements: The most widely preferred functional proteins application
The dietary supplements segment accounted for the largest share of the Functional Proteins Market, in terms of value, in 2016. These supplements are available in the form of capsules, liquid, powders, or tablets. Recently, there has been a rise in the intake of nutritional supplements such as protein powder. This promotes muscle gain and facilitates fat loss and is preferred by most gym goers.
North America estimated to be the most lucrative market for protein hydrolysates
In 2017, North America is estimated to hold a significant share of the global Functional Proteins Market. The increase in the demand for functional proteins by the food processing industry is one of the major drivers for the Functional Proteins Market in the region. In the U.S., the presence of major end-user companies has created a significant demand for functional proteins in the region. The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period.
This report includes a study of the marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Kerry Group (Ireland), Arla Foods (Denmark), and Fonterra Co-Operative Group (New Zealand).
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