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 size reached US$ 13.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028. The growing trend of vegan protein products, increasing demand among fitness enthusiasts and athletes, and rising application as animal feed represent some of the key factors driving the market.
Soy protein ingredients comprise soy protein isolate, textured soy protein, and soy protein concentrate. They are a rich source of protein, fiber, calcium, zinc, potassium, phosphorus, iron, and magnesium. They have antioxidant properties that may protect against cancer risk, outcomes, and recurrence. They assist in lowering low-density lipoprotein (LDL) and increasing high-density lipoprotein (HDL) cholesterol among individuals. They also aid in managing blood sugar levels and lowering the risk of type 2 diabetes while preventing various heart diseases. On the other hand, milk protein ingredients comprise casein, milk protein concentrates, whey protein concentrate 35 (WPC35), and whey protein hydrolysates, concentrates, and isolate. They are slowly digested and absorbed in the body and assist in increasing muscle mass. They aid in reducing weight by decreasing the levels of the hunger hormone, such as ghrelin, in the body. They boost metabolism and improve bone strength by fighting bone breakdown. As a result, soy and milk protein ingredients find applications in the food and beverage (F&B), cosmetics, personal care products, and pharmaceutical industries across the globe.
Soy and Milk Protein Ingredients Market Trends:
At present, the rising demand for protein-rich food products due to the hectic lifestyles and busy working schedules of individuals represents one of the key factors supporting the growth of the market. Besides this, the growing health consciousness among consumers about consuming a nutrient-rich diet is offering a positive market outlook. Additionally, the increasing utilization of soy and milk protein ingredients as animal feed for the development of strong bones and muscles in animals is propelling the growth of the market. Apart from this, the rising trend of consuming vegan protein products, such as soy and milk, as compared to animal-based protein among the masses across the globe is offering lucrative growth opportunities to industry investors. Moreover, the increasing demand for soy and milk protein ingredients among fitness enthusiasts and athletes to increase muscle and bone strength is positively influencing the market. In addition, the rising demand for soy and milk protein ingredients in the food and beverage (F&B) industry in supplements and ready-to-drink (RTD) beverages is contributing to the market growth. Furthermore, key players are introducing various ready-to-eat (RTE) protein snacks, which is strengthening the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global soy and milk protein ingredients market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and application.
Product Type Insights:
Soy Protein Ingredients
Soy Protein Isolate
Soy Protein Concentrate
Textured Soy Protein
Milk Protein Ingredients
Whey Protein Hydrolysates
Milk Protein Concentrates
Whey Protein Concentrates
Whey Protein Isolate
The report has provided a detailed breakup and analysis of the soy and milk protein ingredients market based on the product type. This includes soy protein ingredients (soy protein isolate, soy protein concentrate, and textured soy protein) and milk protein ingredients (casein, whey protein hydrolysates, milk protein concentrates, whey protein concentrates, whey protein isolate, and WPC35). According to the report, soy protein ingredients (soy protein isolate, soy protein concentrate, and textured soy protein) represented the largest segment.
Food and Beverages
Cosmetics and Personal Care
A detailed breakup and analysis of the soy and milk protein ingredients market based on the application has also been provided in the report. This includes food and beverages, cosmetics and personal care, animal feed, and pharmaceuticals. According to the report, food and beverages accounted for the largest market share.
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. According to the report, Europe was the largest market for soy and milk protein ingredients. Some of the factors driving the Europe soy and milk protein ingredients market included the rising awareness among individuals about protein products, increasing utilization of soy and milk protein ingredients in the food and beverage (F&B) industry, presence of various key manufacturers, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global soy and milk protein ingredients market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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., FrieslandCampina DMV, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the global soy and milk protein ingredients market in 2022?
2. What is the expected growth rate of the global soy and milk protein ingredients market during 2023-2028?
3. What are the key factors driving the global soy and milk protein ingredients market?
4. What has been the impact of COVID-19 on the global soy and milk protein ingredients market?
5. What is the breakup of the global soy and milk protein ingredients market based on the product type?
6. What is the breakup of the global soy and milk protein ingredients market based on the application?
7. What are the key regions in the global soy and milk protein ingredients market?
8. Who are the key players/companies in the global soy and milk protein ingredients market?