Product ID: UCMIG30I2056
Functional Proteins Market Size, Share, Growth Analysis, By Source(Animal, Plant), By Application(Functional Food & Beverages, Animal Feed), By Region(North America, South America) - Industry Forecast 2024-2031
Report ID:
UCMIG30I2056 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Functional Proteins Market Insights
Market Overview:
The functional protein market had a value of USD 5.24 billion in 2020. It is estimated that the market will increase from USD 6.20 billion in 2021 to USD 15.98 billion in 2028, with a compound annual growth rate of 14.48% during the 2021-2028 period. Despite the impact of COVID-19, which has been significant globally, demand for functional proteins remained relatively stable across all regions. However, the market experienced a lower growth rate of 8.54% in 2020 compared to the average year-on-year growth between 2017 and 2019. The increase in CAGR is primarily due to the rising popularity of plant-based proteins and increased consumer spending on healthy food products.
Functional Proteins Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Functional Proteins Market Report Snapshots
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