Over the past decade, consumers have been making seismic shifts towards plant-based options. An uptrend in veganism has completely altered the consumer demand pattern, specifically in the food and beverages domain. Against this backdrop, functional protein sources such as soy, oats, and nuts, are experiencing sharp spikes in demand across individuals. Athletes and gym professionals are also providing an impetus to the demand for plant-based functional proteins. The demand for plant-based functional proteins and other non-dairy products is further augmented by the rising prevalence of lactose intolerance among individuals and gym professionals. With increased health awareness, consumers joining gyms and fitness centres has surged at an unprecedented pace. Such trends are setting the tone for the global functional proteins market to flourish throughout the projection timeframe.
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A Global Drive for Sustainable Production to Assure Influential Growth Across Functional Proteins Market
According to the Food and Agriculture Organization of the United Nations (FAO), cattle being raised for milk and meat singlehandedly account for 65% of overall emissions from the livestock sector. In this regard, plant-based proteins are reasoned to be a more sustainable and healthier alternative. Unlike their animal counterparts which emit harmful gases, plant-based proteins are much more environment-friendly and offer better health benefits. Moreover, diverse other alternatives including algae proteins, lab-grown meat proteins, and insect proteins are also available in the market. Nonetheless, the demand for plant-based functional proteins remains intact. A rise in greenhouse gas emissions and demand for sustainable options are creating significant prospects for the functional proteins market growth. Growing animal welfare sentiments and ethical considerations are anticipated to further spearhead the plant-based functional proteins.
Growing Awareness of Health Benefits Apropos to Nutrient-rich Diet Aids Functional Proteins Market Expansion
With growing awareness apropos to the benefits of nutritional food consumption, people have become more health-conscious with the type of food they intake. Busier schedules and changing lifestyles have unveiled various lifestyle disorders in the face of humanity. For instance, a sedentary lifestyle has become one of the major causes of various chronic ailments including cancer, obesity, cancer, and cardiovascular diseases. In addition, the inappropriate functioning of the heart and vital organs can lead to improper removal of toxins and organ failures. To curtail such adverse effects, people are opting for food products enriched with functional proteins and highly nutritious diets. Individuals, specifically millennials, are demonstrating a great propensity to consume functional proteins, contributing to the growth of the global functional proteins market.
North America to Spearhead Functional Proteins Market with Higher Functional Protein Consumption Rate
During the forecast period, North America is anticipated to accumulate a dominant share in the functional proteins market. An incessant rise in chronic diseases such as obesity, heart-related disorders, and diabetes are propelling the demand for functional proteins in the region. Consumption of balanced diets in view of lifestyle changes and the surge in the veganism trend has spiralled the sales of functional proteins. A steady rise in GDP per capita and a propitious business environment are gravitating manufacturing and distribution facilities in the functional proteins space towards North America.
Key Market Players
Some of the highly competitive players operating at the forefront of the global functional proteins market include BASF SE, Cargill, Milk Specialties, BENEO, Glanbia Plc, Merit Functional Foods, Fonterra Co-operative Group, ADM, Ingredion, Kerry Inc., DuPont, DSM, AMCO Proteins, and Omega Protein.
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