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Manufacturers have a great opportunity to stand out from the competition, expand their customer base, and increase profits by creating new products with unique functional and nutritional benefits. A significant area of innovation in the milk protein market involves developing specialized protein ingredients that can be used in various food and beverage products. This includes the use of milk protein isolates and concentrates in sports nutrition items, infant formula, meal replacements, and more. A recent example is Lactalis India launching the protein-packed yogurt drink, Lactel Turbo Yoghurt Drink, in August 2021. Manufacturers can also explore novel applications for milk proteins, such as incorporating them into plant-based products or products designed for specific health needs like weight management or muscle building.
Moreover, there's an opportunity to venture into alternative protein sources beyond traditional milk protein. Manufacturers can create products that feature plant-based proteins like soy or pea protein or utilize other animal-based proteins like whey or egg protein. This diversification into new and innovative products is a crucial opportunity for the milk protein market. It not only allows manufacturers to set themselves apart from competitors but also enables them to address the evolving preferences of consumers and potentially achieve higher profit margins. This emphasis on innovation aligns with the changing landscape of consumer demands and provides a pathway for growth and success in the milk protein market.
Manufacturers can strategically explore the development of unique and beneficial products as a means to differentiate themselves in a competitive market. The creation of specialized protein ingredients is a key focus area in the milk protein market, offering versatile applications in various food and beverage products. Milk protein isolates and concentrates, for example, find utility in sports nutrition, infant formula, meal replacements, and similar applications. A notable instance is Lactalis India's introduction of Lactel Turbo Yoghurt Drink, a protein-rich yogurt beverage, in August 2021. The scope for innovation extends to exploring additional applications for milk proteins, including their integration into plant-based products or formulations designed for specific health goals such as weight management or muscle building.
Furthermore, the exploration of alternative protein sources stands as a noteworthy opportunity. Manufacturers can diversify their product offerings by incorporating plant-based proteins like soy or pea protein. Additionally, consideration can be given to the integration of other animal-based proteins, including whey or egg protein. This strategic approach to developing new and inventive products emerges as a pivotal opportunity for the milk protein market. Beyond differentiation from competitors, it allows manufacturers to address the evolving preferences of consumers, meeting the demand for diverse and health-conscious choices. The purs
Soy Derivatives Market Highlights:
Soy Derivatives Market Overview :Â
soy derivatives market is projected to grow from $216.42 Billion in 2021 to $344.08 billion in 2028 at a CAGR of 6.11% in the forecast period 2021-2028.
Soy derivatives are processed from raw soybeans and include soy oil, soy meal, soy protein, and soy milk. Soy derivatives are used in various industries including food & beverage, animal feed, and personal care. The functional benefits of soybeans have led to a surge in the consumption of soy derivatives. Additionally, the increasing risk of obesity and other health concerns is propelling consumers to shift from animal proteins to plant proteins, which, in turn, is fuelling the demand for soy derivatives market.Â
The increasing prevalence of diseases among animals has led farmers to become more conscious of their choice of animal feed and thus has resulted in the high demand for protein-rich soy derivative products in the feed industry.
However, the rising incidences of soy lecithin allergies are expected to restrain the growth of the market to an extent. Moreover, ethical and legal concerns regarding the consumption of genetically modified soybeans and their derivatives are also hampering the growth of the market. However, the surging demand for soy derivatives in developing nations is expected to lead to lucrative opportunities for market players during the forecast period.
Segmentation
Soy Derivatives Market has been segmented based on type, category, application, and region.
By type, the market has been segmented into soy oil, soy meal, soy protein, soy lecithin, soy milk, and others. The soy protein segment has further been divided into soy flour, soy protein isolates, and soy protein concentrates.
The global soy derivatives industry has been classified, on the basis of category, as conventional and organic.
The application segments of the global market are food & beverage, animal feed, pharmaceuticals and nutraceuticals, personal care, and others. The food & beverage segment has further been categorized as bakery and confectionery, RTE and RTC food, beverages, and others.
The global soy derivatives market has also been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American soy derivatives market has further been segmented into the US, Canada, and Mexico.
The European soy derivatives market has been classified as Germany, France, Italy, the UK, Spain, and the rest of Europe.Â
The soy derivatives industry in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The soy derivatives industry in the rest of the world has been segmented into South America, the Middle East, and Africa.
Key Industry Developments:
for instence ADM has been Growing its production facilities to meet the Increasing demand for soy products. In 2021, the company announced the expansion of its soy processing plant in Rondonopolis, Brazil, which will increase the plant's crushing capacity by 25%. The expansion will enable ADM to meet the growing demand for soy products in the South American Region.
ADM and Benson Hill Partner to Scale Innovative Ultra-High Protein Soy for North American Food Ingredient Industry, In August 2022
Regional Market Summary
Global Soy Derivatives Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
Increasing health-consciousness in the developing countries in Asia-Pacific, Africa, and the Middle East is expected to drive the growth of the soy derivatives market in these regions. North America and Europe are the major markets for soy derivatives owing to the rising trend of veganism and shifting preference for plant-based products.
Global Market, by Type
- Soy Oil
- Soy Meal
- Soy Protein
- Soy Flour
- Soy Protein Isolates
- Soy Protein Concentrates
- Soy Lecithin
- Soy Milk
- Others
Global Market, by Category
- Conventional
- Organic
Global Market, by Application
- Food & Beverage
- Bakery and Confectionery
- RTE and RTC Food
- Beverages
- Others
- Animal Feed
- Pharmaceuticals and Nutraceuticals
- Personal Care
- Others
Global Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
-
Asia-Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World (RoW)
- South America
- Middle East
- Africa
Key Players in the Global Market
- Cargill Inc.
- CHS Inc.
- Ruchi Soya Industries Ltd
- Dupont Nutrition and Health
- Noble Group Ltd
- Wilmar International Ltd
- Archer Daniels Midland Company
- Bunge Ltd
- Louis Dreyfus Company BV
- AG Processing Inc.
Intended Audience
- Food and Beverage Processors
- Soy Processing Industries
- Nutraceuticals Manufacturers
- Personal Care Product Manufacturers
- Retailers and Wholesalers
- Traders, Exporters, and Importers
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