South America Functional Proteins Market to Grow at a CAGR of 7.6% to reach US$ 2,220.93 Mn from 2020 to 2027

The South America functional proteins market is expected to grow from US$ 1,245.88 Mn in 2019 to US$ 2,220.93 Mn by 2027; it is estimated to grow at a CAGR of 7.6% from 2020 to 2027.

Brazil and Argentina are major economies in South America. 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 continuous developments in the food and beverage industry have had a positive impact on Brazil and Argentina's economy that has advanced to a large extent. Growing expenditure on health and nutrition, rising disposable income, and consumer awareness regarding the health benefits offered by protein rich foods are considered significant factors that fuel the growth of the functional proteins market in South America. The Food Allergy Initiative's statistics state that cow milk allergy is the leading food allergy in both adults and infants in South American countries. This factor is majorly driving the demand for plant-based functional proteins in the South American market. However, functional proteins from animal source is considered as highly nutritious. Athletes and sportspeople are preferring animal based functional proteins which further helps in the segment expansion. Further, the growing focus towards infant nutrition along with increasing demand for animal nutrition is also expected to boost functional protein market in the region. Moreover, the increased purchase-power reached by the middle class in recent years is triggering the market growth in South America.

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 South America functional proteins market. The South America functional proteins market is expected to grow at a good CAGR during the forecast period.

South America Functional Proteins Market Segmentation

South America Functional Proteins Market – By Type

• Hydrolysates
• Concentrates
• Isolates

South America Functional Proteins Market – By Source

• Plant
• Animal

South America Functional Proteins Market – By Form

• Dry
• Liquid

South America Functional Proteins Market – By Application

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

South America Functional Proteins Market – By Country

• Brazil
• Argentina
• Rest of South America

South America Functional Proteins Report Scope