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The need for nutritious products in dietary supplements is on the rise, fueled by the increasing awareness among consumers about the advantages of a healthy lifestyle. Milk proteins, including whey and casein, are packed with essential amino acids, making them high-quality proteins that support muscle building, repair, and overall health. This has led to significant growth in the milk protein market, especially in functional foods and dietary supplements. Consumers are actively seeking products that contribute to a healthy lifestyle and fulfill their nutritional requirements, contributing to the ongoing expansion of the milk protein market.
In addition to the demand for animal-based milk proteins, there's a rising interest in plant-based alternatives due to the popularity of vegetarian and vegan diets. Plant-based proteins like pea protein and soy protein offer similar nutritional advantages to their animal-based counterparts. This shift towards plant-based alternatives aligns with the growing consumer preference for diverse dietary choices. Consequently, the demand for milk proteins in dietary supplements is expected to persist, driven by the dual factors of consumers seeking nutrition-rich options and the increasing market for plant-based alternatives.
Nutrient-Rich Products and Consumer Awareness
The recent surge in demand for nutrition-rich products within the dietary supplement segment is closely tied to the increasing awareness among consumers regarding the benefits associated with adopting a healthy lifestyle. This awareness has propelled individuals to actively seek products that contribute to their overall well-being and help meet their nutritional needs.
A significant player in this nutritional landscape is milk proteins, comprising varieties such as whey and casein. These proteins are recognized for their richness in essential amino acids, marking them as high-quality proteins. The notable benefits of milk proteins include their ability to aid in muscle building and repair, support immune function, and contribute to overall health. As consumers embrace the importance of these benefits, the milk protein market has experienced substantial growth in recent years.
The growth trajectory of the milk protein market can be attributed to the escalating demand for functional foods and dietary supplements incorporating these proteins. This trend is expected to persist and even gain momentum in the forecast period as consumers increasingly prioritize products that facilitate a healthy lifestyle and address their nutritional requirements effectively.
Rise of Plant-Based Alternatives
Parallel to the demand for animal-based milk proteins, there has been a notable surge in the popularity of plant-based alternatives. This shift is primarily driven by the increasing preference for vegetarian and vegan diets. Plant-based milk proteins, exemplified by options like pea protein and soy protein, have garnered attention for providing nutritional benefits comparable to their animal-based counterparts.
Pea protein and soy protein, among other plant-based alternatives, offer essential amino acids and nutritional richness, making them suitable for individuals adhering to vegetarian or vegan dietary preferences. This shift towards plant-based alternatives reflects the evolving landscape of dietary choices among consumers.
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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