This market research report includes a detailed segmentation of the global soy and milk protein ingredients market by application (food and beverage, infant formula, personal care and cosmetics, and animal feed) and by product types (WPI, WPC, WPH, MPC, casein, SPI, SPC, and TSP). It outlines the market shares for key regions such as the Americas, APAC, Europe, and MEA. The key vendors analysed in this report are ADM, Arla Foods, Cargill, DuPont, FrieslandCampina, and Kerry Group.
Technavio’s market research analysts estimate the global soy and milk protein ingredients market to grow at a CAGR of around 9% between 2015 and 2019. Rising health awareness among people has led to a considerable shift towards plant proteins, which is primarily boosting the demand for soy and milk proteins. The Americas occupy around 41% of the total market share. The US is the market leader in this region due to the increasing health and wellness trend among the consumers.
The new market research report from Technavio provides a breakdown and analysis of the soy and milk protein ingredients segments by technology.
“Manufacturers are introducing genetically modified (GMO)-free products in this market. GMO-free soy has a higher protein content than GMO crops, resulting in greater demand among consumers. Monsanto, a prominent vendor, has been developing GMO-free soybean called Sovera Soybeans to meet the growing demand among its health conscious consumers,” says Sriram Mohan, Lead Analyst, Food & Beverage, Technavio Research.
Casein dominates the milk protein market, occupying around 32% of the total market share. The demand of casein is high mainly due to its applicability as emulsifiers, rheology agents, and foaming agents. Meanwhile, the soy protein isolate (SPI) market accounts for 41% of the total market share. SPI is one of the purest forms of soy protein, consisting of around 95% protein and is nearly fat free.
The leading vendors in the global soy and milk protein ingredients market include ADM, Arla Foods, Cargill, DuPont, FrieslandCampina, and Kerry Group. The market is highly fragmented due to the presence of both top providers and private players operating across the globe. Intense competition prevails in this market with several product launches, price wars, mergers and acquisition to be drivers for many key companies.
A more detailed analysis is available in the Technavio report, Global Soy and Milk Protein Ingredients Market 2015-2019.
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