FUNCTIONAL PROTEIN MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Functional Protein Market Size and Trends

The global functional protein market is estimated to be valued at USD 5.1 Bn in 2024 and is expected to reach USD 7.2 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5% from 2024 to 2031.

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The functional protein market is expected to grow steadily during the forecast period. Rising consumer preference for healthy and nutritious food is expected to drive the demand. Protein fortification and enrichment in various food products such as beverages, baked goods, dairy alternatives, and others is increasing globally which is expanding the application scope of functional protein. Growing vegan population and launch of innovative plant-based protein products are some of the emerging market trends. Advancements in protein extraction and processing technologies are also supporting the market growth. However, high production cost and strict international quality standards and regulations for new ingredients are some of the challenges for the market.

Protein as functional ingredient

Global food and beverage market has witnessed tremendous growth and transformation in recent years. For instance, on June 21, 2023, according to the report published by the Food and Drink Federation, an organization of U.K. food and drink industry, the food and drink industry was the U.K.’s largest manufacturing sector. According to the same source, U.K.’s 12,460 food and drink manufacturing businesses were committed in investing, with total business investment in the industry equaling USD 3.33 Bn, down by 22.7% from 2021, following tough business conditions.

Consumers are increasingly aware of the link between diet and health, and seeking products that provide added nutritional benefits beyond basic nourishment. One of the key trends gaining significant traction is the use of high quality plant and animal proteins as functional ingredients. Many brands are enriching their products with proteins sourced from whey, casein, soy, peas, brown rice, and others that are easy to digest and complement the existing macronutrient profile. Protein-fortified foods and beverages cater to the growing wellness needs of health-conscious individuals. Research shows that adequate protein intake plays an important role in muscle growth, weight management, and lowering the risk of many lifestyle diseases. The protein craze is driving demand not just among bodybuilders and athletes but also the general population keen to lead an active lifestyle.

Another key growth driver has been the burgeoning sports nutrition and supplements industry. For instance, in October 2022, according to the data published by the Council for Responsible Nutrition (CRN), the leading trade association for the dietary supplement and functional food industry, sports nutrition supplements had witnessed a significant increase in use since last year, up five points to 39%. Regular workouts and competitive fitness scene have entered the mainstream in the last decade. People from different age groups wish to enhance performance, gain strength and build lean muscle with the aid of supplements scientifically backed with the right macro and micronutrients including protein.

Protein requirements are set to increase multi-fold for endurance athletes, bodybuilders, and other sports enthusiasts. Market shelves stock an array of protein powders catering to gender-specific needs along with benefits like easy digestion, enhanced uptake and varying protein sources for grass-fed, sugar-free, and plant-based options. Additional protein absorbed in the right ratio post-workout helps faster recovery and prevents muscle to breakdown. Sports drinks, bars, and gels also leverage high protein content to meet explosive calorie requirements before, during and after training.