Global Soy and Milk Protein Ingredients Market to reach around US$ 4684.9 billion by 2030 - Coherent Market Insights
The global soy and milk protein ingredients market was estimated to account for US$ 33.52 Bn in terms of value and 4.3% CAGR in terms of volume by the end of 2022.
Drivers
Rising demand for functional foods and dietary supplements is playing a very important role in the growth of the soy and milk proteins ingredient. Growing demand for egg protein among consumers as a preventive measure for treating disorders such as cardiovascular health and diabetes is again contributing to the market growth of soy and milk proteins. All these factors are augmenting the market growth of soy and milk proteins ingredient. In August 2022, ADM an American multinational food processing and commodities trading corporation signed an agreement with U.S.-based food and feed ingredients manufacturer, Benson Hill. In accordance with the agreement, ADM has the sole right to process grain delivered from Benson Hills Ultra High Protein Soybeans in the U.S. in order to create and market protein concentrates, texturized protein concentrates, protein isolates, and high protein texturized flour for human consumption.
Market Opportunities
Growing demand for protein ingredients from the cosmetic industry for the production of cosmetic products such as anti-aging creams and moisturizers is projected to bring new market opportunities. Rising protein ingredients used in cosmetic products offer various benefits to the skin such as repairing, skin regeneration, and effective in treating dryness. Thus, the growing use of protein ingredients in cosmetic products is projected to foster market growth.
Market Restraints
The volatile price of raw materials due to a gap in supply and demand for grain is expected to hamper the market growth of soy and milk proteins ingredient. This increases the overall price of the production of protein ingredients and this hinders the market growth of soy and milk proteins ingredient.
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https://www.coherentmarketinsights.com/market-insight/soy-and-milk-protein-ingredients-market-4038
Key Takeaways:
On the basis of region, Europe region dominated the global soy and milk protein ingredients market in 2022 with a 46.3% of market share in terms of value, followed by North America and Asia Pacific respectively.
Whey protein concentrates segment dominated the global soy and milk protein ingredients market in 2022, accounting for a 28.1% share in terms of value, followed by Casein/caseinates and milk protein concentrates respectively
Market Trends
The growing popularity of soy-concentrates among consumers is projected to propel the market growth of the soy and milk proteins ingredient. Soy concentrates have various health benefits such as easy digestion, high nutritional level, and fat retention capacity. Soy concentrate is widely used in baked foods, breakfast cereals, and meat & poultry products. Hence, the growing popularity of soy-concentrates is augmenting the market growth of soy and milk proteins ingredient.
Whey proteins are gaining traction in the market as they are widely used in medicines and bakery foods owing to their excellent emulsifying properties. Moreover, manufacturers are introducing innovative and new whey proteins product for meeting the rising demand around the globe.
Global Soy and Milk Protein Ingredients Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of the novel coronavirus has affected almost every industry across the globe including the food & beverage industry. The emergence of the novel coronavirus caused a significant change in the buying habits of the consumers. Consumers nowadays are more inclined towards buying packed food products. Thereby, the packaged food and beverage industries is witnessing the upsurge in the demand for packed food. Hence, supports the growth of the market.
Competitive Section:
Archer Daniels Midland Company (ADM), Scoular Company, Cargill Inc., Dupont-Solae, Linyi Shansong Biologicals Products Cp. Ltd., and Solbar Ltd
