North America Functional Proteins Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Source, Form, Application, and Country

The North America functional proteins market is expected to grow from US$ 2,503.61 million in 2019 to US$ 4,548.47 million by 2027; it is estimated to grow at a CAGR of 7.9% from 2020 to 2027. The consumption of plant-sourced functional proteins such as soy protein, wheat protein, and pea protein is rising exponentially since the past few years. This is majorly attributed to the increasing vegan population in North America. Studies suggest that the vegan diet helps keep blood pressure and cholesterol level in check as well as reduces the risks of developing type 2 diabetes, heart diseases, and a few types of cancer. According the Food Standards Agency (FSA), vegan population in the US grew from 4 million in 2014 to 20 million in 2018. As per the data published by the Plant Based Foods Association, the plant-sourced food segment observed remarkable growth in the US during 2017 and 2018. Further, major players in the functional proteins market are investing heavily on innovations to address the evolving consumer demands.

The North America functional proteins market, based on type, is segmented into hydrolysates, concentrates, and isolates. The isolates segment led the market in 2019. Functional protein isolates are highly concentrated protein fractions obtained through wet processing of plant and animal sources. The protein separation is mainly based on the solubilization of protein followed by an isoelectric or an ultrafiltration process for subsequent recovery. A whey protein isolate is a dietary supplement, as well as a food ingredient, formed by separating components from whey, which is a by-product of the cheese-making process. Protein isolates, specifically pea protein isolates, are well absorbed and possess a myriad of functional benefits, including improved satiety, facilitating fat loss, and muscle gain.

The overall North America functional proteins market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America functional proteins market with respect to all the segments pertaining to the regional market. Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the North America functional proteins market. AMCO Proteins; APC INC; FrieslandCampina; Abbott Nutrition; Archer Daniels Midland Company; Arla Foods Ingredients Group; Cargill, Incorporated; Glanbia plc; DSM; Fonterra Co-operative Group Limited; Kerry; and Saputo Ingredients are among the key companies catering to the market in North America.