Market – Overview
Functional proteins popularity has increased considerably in the recent years due to growing consumer demand. Market Research Future, which concentrates on market reports related to Food, Beverages & Nutrition sector among others, have recently issued a report on this market. The industry is anticipated to touch 2,280 kilo tons by 2022 while simultaneously growing at a CAGR of 3.78% by 2022.
The growth of the Functional Protein Market has been followed by the growth in the sports and nutrition sector. Medical nutrition market has also been of the formidable forces that are expanding the market significantly. Renewed emphasis on animal feed industry has revived the demand trend of the functional protein market. Introduction of functional proteins in beverages by major manufacturers have amplified the growth pace of the market.
The international market for functional protein is divided on certain basis for better analysis. The division on the basis of source comprises of plant protein, animal protein and others. The function category includes digestive nutrition, weight management nutrition, sport nutrition and others. The delivery format category includes capsules, powder, liquids, creams and others. Finally the distribution channel segment includes e-commerce, hypermarket, pharmaceutical store, convenience store, supermarket and others.
Detailed Regional Analysis
In the industry for functional protein, the European market will carry on its control over the industry with an additional 35% market share and it is anticipated to touch more than 828 kilo tonnes with CAGR of 2.36 per cent by 2022. The APAC region will observe an advanced growth rate of 5.48 per cent throughout forecast period from 2016 to 2022. Moreover, the North American region will attain growth of 4.88 per cent in the functional protein market for the forecast period. The rising interest level towards sport nutrition and nutritional weight management in the European region is motivating the market growth. The altering lifestyles and growing cognizance about the benefits to health of functional protein in the Asia Pacific region are playing a key role in the sectors growth since the last few years.
Global Competitive Analysis
The entry of innovative companies, is creating a swiftly -evolving a trend of volume intensive growth. This has enabled the development of varied assortments of produce kinds. Companies are trying to harness a substantial portion of the market division as early as possible with effective business plans that can fill this gap and confirm control of the dynamics of the rivalry in the market. Effective business policies targeted to fill this gap and gain control of the dynamics of the competition existing in the market. The chief strategies for long-term growth can be achieved by ensuring continuous process enhancements and financial fluidity to spend in the prime strategies as they arise.
The foremost players in the global market for this sector are Herbalife Ltd (U.S.), Archer Daniels Midland Company (U.S.), Glanbia Plc.(Ireland) and GNC Holdings Inc (U.S.) to name a few.
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.
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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.