COVID-19 Impact Analysis
Growing popularity of functional foods and dietary supplements in sports nutrition among the working professionals is expected to increase protein-enriched food intake. In addition to this, the market is likely to gain as consumers become more conscious about their health and wellness as a result of the recent coronavirus outbreak. This change will be apparent in developing nations as well, which are likely to exhibit rising demand for medical nutrition in the coming years.
Some of the countries which were worst hit by coronavirus are likely to record high demand for functional proteins. A change in food habit is likely as consumers’ consumption patterns alter as a result of coronavirus outbreak. Spurred by the prevailing forces, the use of functional proteins is likely to surge in various applications such as dietary supplements and food & beverages.
The ability of functional protein producers to develop distinct isolates, concentrates, and other types of protein ingredients for various food items, such as dairy products, beverages, dietary supplements, infant formula, bakery products, and confectionery products, is expected to drive the growth of the functional protein market during the forecast period.
Whey protein is one of the main ingredients in the processing of many milk-based products, and is used as a protein source for product innovation by several food & beverage manufacturers. The big whey proteins are á-lactalbumin and â-lactoglobulin, which find significant demand from the food & beverage manufacturing industry.
Whey protein concentrate (WPC) manufacturing involves processing fluid whey via ultrafiltration to create a range of WPCs. WPCs are widely used in functional foods and beverages as a source of protein due to their easy availability or ease of processing, and low cost compared to hydrolysates and isolates. WPCs have a variety of functionalities in the food & drink industry
Regulations for Animal-Sourced Proteins are Major Restraints for the Market
The US Food & Drug Administration (US FDA) has stringent regulations concerning proteins from mammalian tissues. For example, New Zealand's Ministry of Agriculture and Forestry (MAF) prohibits ruminant protein feeding in any type, composition, or admixture to ruminants, due to the risk of spreading Bovine Spongiform Encephalopathy (BSE), also known as mad cow disease.
As a result, the ban has adversely affected the supply of animal-based protein ingredients worldwide, as it limits the trade and availability of some animal-based proteins intended for human use.
Increasing risk of cardiovascular disease and high blood pressure among individuals across the globe is expected to increase the demand for functional proteins as they are well known for lowering blood pressure.
Increasing number of millennial are inclined towards fitness and gymnastics, owing to which functional protein market sales is expected to increase significantly over the forecast period as functional protein helps in boosting muscle mass, manage weight, and maintaining bone density. Increasing awareness among consumers regarding the benefits of functional proteins is expected to boost the demand for the same over the forecast period.
Increasing Usage of Functional Protein by Various End-User Industries Drives the Demand
Functional proteins are used in various applications such as dietary supplements and food & beverages due to the rising demand for food products with improved functionalities. The ability of functional protein producers to develop distinct isolates, concentrates, and other types of protein ingredients for various food items, such as dairy products, beverages, dietary supplements, infant formula, bakery products, and confectionery products, is expected to drive the growth of the functional protein market during the forecast period.
The growth of the market is driven by consumer awareness about a healthy diet, increasing instances of chronic diseases, and technological upgradation in the functional proteins market. The key drivers for the market are the shift in demand from processed to healthy and functional food.
How Growth will Unfold
Functional food is traditional food that is eaten as part of the diet, offering multiple health benefits alongside nutrition. Protein is added to functional food items in order to provide health benefits such as curbing the appetite and better control weight. Because of this, there is a growing trend among consumers towards healthy snacks such as protein-based bars.
The increased usage of animal protein in end-use applications, such as sports medicine, and the limited availability of egg and gelatine substitutes in various food items - which, in effect, is affected by lifestyles and demographic changes - are the main drivers of the industry.
Recent advances in protein powder processing to encourage health benefits such as muscle growth and fat loss, offer attractive opportunities for market players over the forecast period. One of the market's main factors is that demand changes from processed food to balanced, usable food. High costs linked to R&D activities and tight regulatory regulations are hampering market development. Growth in the functional protein market is driven by customer understanding of a balanced diet, growing instances of chronic disease, and the functional protein market's technological upgrades.
FUNCTIONAL PROTEINS MARKET TAXONOMY
The global Functional Proteins market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Type
- Whey Concentrate
- Casein Protein
- Hydrolyzed Protein
- Egg Albumin
- Soy Protein
- Whey Isolates
- Milk Protein Isolate
Source
- Animal
- Plant
Form
- Powder
- Liquid
Application
- Animal Nutrition
- Functional Food
- Functional Beverages
- Dietary Supplements
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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