According to a recent market research report published by Transparency Market Research, the global soy and milk protein ingredients market is anticipated to expand at a CAGR of 6.0% during the period between 2013 and 2018. The report, titled “Global Soy & Milk Protein Ingredients Market – Industry Analysis, Market Size, Share, Growth and Forecast 2010 – 2018”, projects the global soy and milk protein ingredients market to be worth US$13000 mn by 2018. The overall market stood at a valuation of US$8500 mn in 2010.
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According to product types, the global soy protein ingredients market has been segmented into soy protein concentrates, soy protein hydrosylates, soy flours, soy protein isolates, and others. Milk protein ingredients have been classified into whey protein hydrosylates, whey protein isolates, casein/ caseinates, skimmed milk powder, whey protein concentrates, milk protein concentrates and isolates, and others. The demand for soy protein isolates is expected to be considerably high during the forecast horizon. Among milk protein ingredients, the demand for casein is anticipated to be the highest in the coming years owing to its extensive applications as emulsifiers, foaming agents, and rheology agents. The demand for milk protein concentrates is also rising as they replace the dairy products in the market.
On the basis of applications, the report classifies the global soy protein ingredients market into meat alternatives, bakery and confectionary, dairy replacement, functional foods, infant foods, and others. The applications of soy protein ingredients across dairy replacement, infant foods, and bakery and confectionary segments are expected to increase further during the forecast period.
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The report studies the global soy and milk protein ingredients market across four key regions: Asia Pacific, Europe, North America, and Rest of the World. North America and Europe have been the biggest consumers of soy and milk protein ingredients owing to growing awareness about the benefits of plant-derived proteins. However, during the forecast horizon, the growth of these regional markets is expected to slow down as they become saturated. In terms of consumption of milk products, Asia Pacific is expected to hold the largest market share of the next couple of years, owing to low cost and usage flexibility offered by milk protein concentrates.
Describing competitive landscape, the report profiles some of the key players in the global soy and milk protein ingredients market such as Scoular Company, ADM Inc., Cargill Inc., Solbar Ltd., DuPont-Solae, and Linyi Shansong Biological Products Co. Ltd.