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The global milk protein market is anticipated to experience a growth rate of 6.9% during the forecast period from 2022 to 2030. Milk protein, a complex mix of proteins like casein and whey, serves as a comprehensive source of protein containing all the essential amino acids vital for human nutrition. It is widely employed in the food industry as an ingredient in various products such as cheese, yogurt, and protein supplements.
Several factors contribute to the expected growth of the global milk protein market. The increasing demand for food products rich in protein, a growing focus on health, and the popularity of sports nutrition items are key drivers. Additionally, advancements in food processing technologies and substantial investments in research and development activities aimed at creating innovative milk protein products are set to propel market growth during the forecast period. However, certain challenges such as fluctuations in milk prices and concerns related to lactose intolerance may impede the market's growth.
The global milk protein market is segmented based on type, form, and application. In terms of type, the market includes categories like milk protein concentrate, milk protein isolate, milk protein hydrolysates, casein & caseinates, whey protein concentrate, whey protein isolate, and others. The form segment is divided into dry and liquid forms. The application segment encompasses Dairy Products & Frozen Desserts (Cheese, Yogurt, Ice Cream, and Others), Infant Formula, Dietary Supplements, Bakery & Confectionery, Beverages, Sweet & Savory Snacks, and Others. The market analysis covers regions such as North America, Europe, Asia-Pacific, and the Rest of the World.
The growth of the global milk protein market is driven by several factors contributing to its increasing demand. This includes a surge in the preference for protein-rich food items, a heightened awareness of health considerations, and the popularity of sports nutrition products. Moreover, ongoing advancements in food processing technologies and substantial investments in research and development activities aimed at creating innovative milk protein products are expected to fuel the market's growth throughout the forecast period. Nevertheless, certain challenges, such as the volatility in milk prices and concerns regarding lactose intolerance, are anticipated to pose obstacles to the market's expansion.
The global milk protein market is intricately categorized based on type, form, and application. Types of milk protein include milk protein concentrate, milk protein isolate, milk protein hydrolysates, casein & caseinates, whey protein concentrate, whey protein isolate, and others. The form segment further divides into dry and liquid forms. The diverse applications of milk protein span across Dairy Products & Frozen Desserts (Cheese, Yogurt, Ice Cream, and Others), Infant Formula, Dietary Supplements, Bakery & Confectionery, Beverages, Sweet & Savory Snacks, and Others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and the Rest of the World.
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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