Meat that has been treated by a combination of comminution, treatment with alkali and drying exhibit excellent properties for use as a new food ingredient. Dried Functionalized Protein Product is prepared by comminuting meat to form a comminuted meat having particle size of less than 5mm; mixing the comminuted meat with water, a food grade alkaline composition, and a food grade salt to form a Functionalized Protein Brine having a pH in the range of from about 6.5 to about 9.5. The mixing is carried out so that the meat is not exposed to acid in a manner that would cause the pH of the meat to be less than about 5.3. The resulting Functionalized Protein Brine is dried to form a Dried Functionalized Protein Product. Water can be added to the Dried Functionalized Protein Product to form a Reconstituted Functionalized Protein Formulation.