Future Market Insights, Inc. unveils insightful strategies for brands to dominate the burgeoning functional protein market. Dive deeper into the intricate dynamics of this burgeoning market and uncover compelling stakeholder opportunities in our comprehensive FMI report.
NEWARK, Del., Jan. 15, 2024 /PRNewswire/ -- The Functional Protein Market size is poised to cross US$ 7,255.2 million in 2024 and is likely to attain a valuation of US$ 10,518.4 million by 2034. The functional protein market share is projected to develop at a CAGR of 4% from 2024 to 2034.
Request Exclusive Sample Report: Functional Protein Industry Strategic Insights, https://www.futuremarketinsights.com/reports/sample/rep-gb-11243
Introducing subscription-based models is an intelligent strategy for firms in the functional protein market to generate an uninterrupted revenue stream. Businesses can save client acquisition expenses by ensuring a consistent and predictable customer base through the provision of individualized subscription plans. Because members receive frequent deliveries of protein products, this approach encourages consumer loyalty by establishing a habitual consumption pattern. Subscription-based services give companies a consistent source of income, improve client retention, and add to the general viability and profitability of the brand.
Businesses that support the clean label movement are repurposing protein products to highlight natural components and reduce the amount of chemicals. Companies establish a health-focused image by satisfying customer requests for simplicity and openness, which builds trust and encourages brand loyalty. This change also makes premium pricing tactics possible, expanding consumer reach and strengthening the sense of quality.
Companies are capitalizing on the surge in customer concern for immune function by creating enhanced protein products with components that strengthen the immune system. By following wellness trends, businesses can appeal to today's health-conscious customer base and gain a competitive advantage in the functional protein industry, a larger market share, and brand loyalty.
"To succeed in this fast-paced industry, businesses must have a deep awareness of local quirks, be dedicated to innovation, follow legal requirements, and form strategic alliances that complement the changing trends in health and wellness. The market expects a complete approach incorporating flexibility, innovation, and sustainability in addition to functional goods." says Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).
Key Takeaways from the Functional Protein Market Report:
- In 2023, the global market size stood at US$ 6,890 million.
- The hydrolysates product type segment occupied 26% of the market shares in 2024.
- The powder form segment captured 67% of the market share in 2024.
- The market size in the United States is projected to rise at a 4.8% CAGR through 2034.
- The market in Japan is anticipated to develop at a 7.8% CAGR through 2034.
- China is estimated to surge at a 7.0% CAGR through 2034 in the market.
- The market size in Australia is expected to thrive at a 6.0% CAGR through 2034.
Competitive Landscape
Intense competition among businesses fighting for market share and customer loyalty characterizes the functional protein market's competitive landscape. Well-established firms, which include leading international companies like Glanbia plc, Archer Daniels Midland Company, and Kerry Group, have enormous sway because of their vast distribution networks and economies of scale. These industry leaders have a strong advantage since they maintain competitive pricing strategies by utilizing their operational efficiency.
Leading Players in Functional Protein Market:
- Glanbia plc
- Archer Daniels Midland Company
- Kerry Group
- Fonterra Co-operative Group
- DuPont de Nemours, Inc.
- Cargill, Incorporated
- FrieslandCampina
- Herbalife Nutrition Ltd.
- Hilmar Ingredients
- Omega Protein Corporation
- Amway Corporation
- Arla Foods Ingredients Group P/S
- NOW Foods
- MusclePharm Corporation
- Quest Nutrition, LLC
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Recent Developments Observed by FMI:
- Early in 2024, Vivici plans to introduce its nature-equivalent beta-lactoglobulin product made of whey protein. Vivici is a business-to-business company that provides animal-free consumer goods and sustainable whey protein to forward-thinking food and beverage firms.
- Kemin Industries (Des Moines, Iowa) opened its first manufacturing facility in September 2023 to begin producing clean-label functional proteins under the Proteus brand. These proteins are meant to enhance the texture and moisture retention of meat and poultry products, especially while cooking. The manufacturing facility is situated in Verona, Missouri.
Functional Protein Market Segmentation
- By Product Type:
- Hydrolysates
- Whey Protein Concentrates
- Whey Protein Isolates
- Casein and Caseinates
- Soy Protein
- Others
- By Form:
- Dry
- Liquid
- By Source:
- Animal
- Dairy
- Egg
- Gelatin
- Plant
- Soy
- Wheat
- Vegetable
- Animal
- By Application:
- Food
- Beverages
- Dietary Supplements
- Animal Nutrition
- By Distribution Channel:
- Direct
- Indirect
- Pharmacy Stores
- E-retailers
- Specialty Stores
- Supermarkets
- By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
- Japan
About the Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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