Due to the presence of a large number of leading players, the global soy and milk protein ingredients market is highly competitive, states Transparency Market Research (TMR) in a new report. The market is also considered to be highly fragmented as there are numerous regional and multinational companies vying for a larger share of revenue. The growth of the global soy and milk protein market is being brought about by the shift in consumer preferences and consumer awareness. The four leading companies, Dupont Solae, Bunge, ADM, and Cargill, accounted for a share of 66.5% in the global soy and milk protein market in 2011. To maintain a lead in the global soy and milk protein ingredients market, the established players are shifting their focus towards product innovation and differentiation through the development of new and high quality products and packaging.
The global soy and milk protein ingredients market is expected to expand at a CAGR of 5.6% from 2011 to 2018. In 2015, the market was valued at US$24.14 bn and is well-poised to reach US$28.54 bn by the end of 2018. Based on product types, the soy protein hydrolysates segment is expected to register strong growth and dominate the global soy and milk protein ingredients market with a contribution of approximately 57.5% to the total market revenue. The soy hydrolysates segment is anticipated to rise at a CAGR of 6.3% during the forecast period.
Geographically, Europe is projected to emerge dominant in the consumption of milk protein products and hold the leading shares until 2018 owing to the usage flexibility of milk protein concentrates and low cost of milk protein ingredients. The market for soy and milk protein ingredients in Europe is anticipated to rise to a valuation of US$13.23 bn by 2018 from US$11.26 bn in 2015.
Change in Food Consumption Patterns to Drive Consumption of Soy and Milk Protein Globally
Earlier, due to the lack of knowledge regarding the benefits of various types of proteins, consumers tended to refrain from the consumption of proteins. However, owing to changing lifestyle and concerns regarding healthy living and consumption of balanced diet, consumers have shifted towards the consumption of proteins, specifically soy and milk proteins.
According to a TMR analyst, “A visible change in food consumption patterns and intake of high-nutrition diet is likely to fuel the demand for soy and milk protein ingredients.” The need for protein rich food products for infants such as cereals is further expected to drive the growth of the global soy and milk protein ingredients market. Moreover, the availability of strong scientific evidential support regarding the health benefits of proteins along with rise in the research and development activities regarding the development of advanced soy and milk protein ingredients with a wider application scope are further anticipated to drive the growth of the global soy and milk protein ingredients market.
Volatile Prices of Raw Materials to Inhibit Growth of Global Soy and Milk Protein Ingredients Market
Owing to the imbalance in the demand and supply of raw materials, specifically grains, the price of soybean is prone to fluctuations. The volatile prices of raw materials ultimately result in a significant rise in the cost of production of soy protein ingredients. As a result of this, manufacturers refrain from manufacturing protein ingredients. The high cost of protein products is also likely to impede the demand for soy and milk protein ingredients in the coming years. Furthermore, strict government imposed regulations are anticipated to inhibit the growth of the global soy and milk protein ingredients market.
Untapped Markets to Provide Profitable Growth Prospects to Manufacturers
Increasing awareness regarding the benefits of proteins among consumers in several emerging economies such as India and China is likely to provide manufacturers with lucrative opportunities in terms of business expansion in these untapped markets. Moreover, the growing demand for soy and milk protein ingredients form specific consumer segments such as patients suffering from diabetes, obesity, and cardiac patients as well as from pregnant women is further anticipated to help manufacturers expand their consumer base.
The review is based on a report titled, “Soy & Milk Protein Ingredients Market (Concentrates, Isolates & Hydrolysates) - Global Industry Analysis, Market Size, Share, Growth and Forecast 2010 - 2018.”
Soy protein ingredients market, by types
- Soy Protein Isolates
- Soy Protein Concentrates
- Soy Protein Hydrolysates
- Soy Flours
Soy protein ingredients market, by applications
- Bakery & Confectionary
- Meat Alternatives
- Functional Foods
- Dairy Replacement
- Infant Foods
Milk protein ingredients market, by types
- Milk Protein Concentrates & Isolates
- Whey Protein Concentrates
- Whey Protein Isolates
- Whey Protein Hydrolysates
- Skimmed milk powder
In addition the report provides a cross-sectional analysis of all the above segments with respect to the following geographical markets:
- North America
- Rest of the World (RoW)
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC