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(HomeGarden247.com, February 07, 2020 ) The global functional proteins market is projected to reach USD 5.73 billion by 2022, at a CAGR of 6.6% from 2017. 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.
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Regulations for animal-sourced proteins are major restraints for the market
The US-FDA (US Food & Drug Administration) has strict regulations regarding proteins sourced from mammalian tissues. For instance, the Ministry of Agriculture and Forestry (MAF) of New Zealand prohibits the feeding of ruminant protein in any form, 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 restriction has had an adverse effect on the supply of protein ingredients sourced from animals worldwide as it restricts the trade and availability of certain animal-based proteins meant for human consumption.
Whey protein is one of the major ingredients for manufacturing several milk-based products and is used by many food & beverage manufacturers as a protein source for product innovation. The major whey proteins are á-lactalbumin and â-lactoglobulin, which find significant demand from the processed food & beverage industry. The production of whey protein concentrates (WPCs) involves the processing of fluid whey through ultrafiltration to produce a variety of WPCs. WPCs are commonly used as a source of protein in functional food & beverages owing to their easy availability or ease of production and low cost as compared to hydrolysates and isolates.
The key players in the functional proteins market include Kerry Group (Ireland), Arla Foods amba (Denmark), Fonterra Co-Operative Group (New Zealand), Glanbia Plc (Netherlands), and Koninklijke DSM N.V. (Netherlands). Other players include Archer Daniel Midland Company (U.S.), FrieslandCampina (Netherlands), Saputo Ingredients (Canada), APC Inc (U.S.), and AMCO Proteins (U.S.).
Joint ventures, new product launches, strategic acquisitions, and expansions were some of the major strategies adopted by the leading players in the functional proteins market; these strategies were adopted by the players to increase their market presence. They also helped the players to expand their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Market leaders such as Kerry Group (Ireland), Arla Foods (Denmark), Fonterra Co-Operative Group (New Zealand), Glanbia Plc (Netherlands), and Koninklijke DSM N.V. (Netherlands) successfully tapped the potential markets through joint ventures, new product launches, expansions, and acquisitions.
Kerry Group plc (Ireland) is a leader in proteins, globally. The company operates in more than 140 countries through its 152 manufacturing units. Its ingredients business has a strong base in North America. It offers a wide range of products under its functional proteins category with offerings varying from animal-sourced proteins such as hydrolysates and caseins, to plant-sourced proteins such as soy, rice, wheat, and pea proteins. The company adopted acquisitions as one of its major strategies to expand its product portfolio in the U.S. market. For instance, in October 2015, Kerry acquired three companies, namely, Red Arrow Products, Island Oasis, and Biothera’s Wellmune having expertise in nutrition solutions. Through the acquisition, the company further diversified its product offerings for the U.S. market. Kerry already has a strong footprint in the Asia-Pacific market. For instance, the demand for Kerry’s hydrolyzed proteins, particularly in clinical and infant nutrition, has been on the rise. Sales of functional hydrolysates also grew in the confectionery markets in India and Indonesia. Infant nutrition products which are in high demand in China further provide good growth opportunities for the company in the region. As a part of its expansion strategy to tap into the broad customer base in the emerging regions such as the Middle East and Africa, Kerry opened the Kerry Regional Development & Application Centre in Durban, South Africa in the year 2014.
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Arla Foods amba (Denmark) is a global leader in whey-based ingredients. These ingredients find wide applications in categories from bakery, beverages, and ice cream, to clinical, infant, and sports nutrition. Some of the major strategies adopted by the company to strengthen its market presence include joint ventures, new product launches, and expansions. In 2012, to expand its geographic presence in the African market, it entered into a joint venture with two local players, namely, Tolaram Group (Nigeria) and Attieh Group (Senegal).
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