According to the latest report by IMARC Group, titled “Soy and Milk Protein Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global soy and milk protein ingredients market reached a value of US$ 13.0 Billion in 2022. Proteins are one of the primary macronutrients required by the human body for optimal growth and maintenance of cells and tissues. Over the years, soy- and milk-based products have emerged as some of the most widely consumed sources of proteins, especially among vegan and vegetarian consumers. Nowadays, health-conscious people highly prefer milk protein ingredients as they contain more protein with lesser amounts of carbohydrates and fats per serving. On the other hand, soy protein ingredients are increasingly being used in health foods owing to their functional properties.
Global Soy and Milk Protein Ingredients Market Trends:
With the increasing prevalence of chronic diseases, consumers are becoming more conscious about their health and wellness. Owing to this, they are becoming more inclined toward food products that are high in proteins. This trend has consequently increased the demand for soy and milk protein ingredients across the globe. Besides this, soy protein ingredients are also rich in iron, fiber, calcium, potassium, magnesium, vitamin B, lecithin and polyunsaturated fats. As a result of this, they are utilized as an alternative to meat and eggs in the preparation of various food items. Also, soy and milk protein ingredients are widely used in infant formula to help speed up muscle growth and development among children. These ingredients are also added in protein supplements to aid athletes in limiting the degradation of muscle tissue after a workout and increase their muscle mass. On account of these factors, the market value is projected to grow at a CAGR of 7.5% during 2023-2028.
- Based on the product type, the market has been bifurcated into soy and milk protein ingredients, wherein soy protein ingredients dominate the market. Soy protein ingredients are further segmented into soy protein isolate, soy protein concentrate and textured soy protein. Whereas, milk protein ingredients are classified as casein, whey protein hydrolysates, milk protein concentrates, whey protein concentrates, whey protein isolate and WPC35.
- The market has been categorized on the basis of the application into food and beverages, cosmetics and personal care, animal feed and pharmaceuticals.
- Region-wise, Europe exhibits a clear dominance in the market, holding the largest market share. Other major regions are North America, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined, with some of the key players being Archer Daniels Midland Company (ADM), Arla Foods amba, DuPont Nutrition & Health, Cargill, Inc., Kerry Group plc, Associated British Foods plc, Charotar Casein Company, Dean Foods Company, Fonterra Co-operative Group Limited, Glanbia plc, Milk Specialties Global (MSG), Omega Protein Corporation, Linyi Shansong Biological Products Co., Ltd., Scoular Company, Solbar Industries Ltd. and FrieslandCampina DMV.
|Base Year of the Analysis
||Product Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Archer Daniels Midland Company (ADM), Arla Foods amba, DuPont Nutrition & Health, Cargill, Inc., Kerry Group plc, Associated British Foods plc, Charotar Casein Company, Dean Foods Company, Fonterra Co-operative Group Limited, Glanbia plc, Milk Specialties Global (MSG), Omega Protein Corporation, Linyi Shansong Biological Products Co., Ltd., Scoular Company, Solbar Industries Ltd. and FrieslandCampina DMV
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