Europe Functional Proteins Market to Grow at a CAGR of 6.7% to reach US$ 3,233.68 Mn from 2020 to 2027

The Europe functional proteins market is expected to grow from US$ 1,939.84 Mn in 2019 to US$ 3,233.68 Mn by 2027; it is estimated to grow at a CAGR of 6.7% from 2020 to 2027.

Germany, France, United Kingdom, and Italy are major economies in Europe. The companies are continuously improving the overall business processes to meet the customers' demand for superior quality products and services in the best possible way. The western part of Europe is known for its better living standards, with people displaying a higher income level. It is one of the wealthiest regions on the European continent, with per capita Gross Domestic Product (G.D.P.) more than the other parts. The European market for functional protein is expanding due to the presence of consumers who wish to lead active lifestyles. Functional protein derived from plants is showing increased growth as the European consumers consider them to be healthier than animal-based proteins. The growth of plant-based functional protein is supported by the rising vegan population in the region. According to Kerry Group, more than 70% of consumers in Europe believe that plant-based proteins are healthier than animal-based proteins. Thus, to meet the customer demands, manufacturers operating in the region are looking at new sources of plant-based proteins to establish themselves on the functional protein market. European consumers consume health products to prevent diseases and to feel healthy and they take more responsibility for both their physical wellbeing and mental health. Rather than focusing on treating illness, consumers recognize health increasingly in terms of preventing illness, feeling good and looking radiant. Moreover, the aging population in the region is another factor contributing to the market expansion.  

With the new varieties and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe functional proteins market. The Europe functional proteins market is expected to grow at a good CAGR during the forecast period.

Europe Functional Proteins Market Segmentation

Europe Functional Proteins Market – By Type

• Hydrolysates
• Concentrates
• Isolates

Europe Functional Proteins Market – By Source

• Plant
• Animal

Europe Functional Proteins Market – By Form

• Dry
• Liquid

Europe Functional Proteins Market – By Application

• Functional Food
• Functional Beverages
• Dietary Supplements
• Animal Nutrition
• Others

Europe Functional Proteins Market – By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

Europe Functional Proteins Report Scope