Projections for soy and milk protein ingredients industry

NEW YORK - From USD8,500 million in 2010, the global market for soy and milk protein ingredients is estimated to cross USD13,000 million in 2018, growing at a CAGR of more than 6% from 2013 to 2018. This is according to Transparency Market Research in their latest study of the industry.

The market for soy protein is mainly driven due to health benefits associated with it, better and economical source of high-quality proteins and its functional properties. However, negative impact of genetically modified (GM) soy and the challenging environment of the protein industry including milk proteins, pea proteins and other animal proteins can prove to be the major barriers of the market. Europe and North America are the largest but saturated markets, whereas growth is expected to be robust in the economies of Asia Pacific. In the next six years, China, Brazil and India are expected to be the most attractive markets.

Asia is the largest consumer of soy flour, isolated soy proteins and soy protein concentrates. The market for milk protein ingredients is growing continuously in terms of revenues due to the increasing population and the high standard of living, the major factors driving the growth of the market. Moreover, due to increasing consumer awareness about the adverse effects of animal protein, the market is shifting towards plant and milk proteins. Milk protein concentrates due to their usage flexibility and low cost are replacing the market for dairy products. Asia Pacific has the highest number of consumers of milk ingredients.

Whilst milk proteins are dominated by caseins, caseinates and concentrates, the soy protein market is dominated by protein concentrates and isolates. The report analyses the current and future market potential for soy and milk protein isolates, concentrates and hydrolysates in terms of applications, price trends and product specifications.

Some of the major players of the market are DuPont, ADM, Armor Proteins, Bunge Alimentos SA, Burcon NutraScience, Cargill Health & Food Technologies, Dean Foods Company, Gelita Group, Doves Farm Foods, DuPont Agriculture & Nutrition, George Weston Foods, Kellogg Company, Kerry Ingredients Inc., Kraft Foods, Manildra Group, MGP Ingredients, and Omega Protein Corporation.

Browse report: The Global Soy & Milk Protein Ingredients Market (Concentrates, Isolates & Hydrolysates) - Industry Analysis, Market Size, Share, Growth and Forecast, 2010 - 2018.