Due
to the presence of a large number of leading players, the global soy
and milk protein ingredients market is highly competitive, states
Transparency Market Research (TMR) in a new report. The market is
also considered to be highly fragmented as there are numerous
regional and multinational companies vying for a larger share of
revenue. The growth of the global soy and milk protein market is
being brought about by the shift in consumer preferences and consumer
awareness. The four leading companies, Dupont Solae, Bunge, ADM, and
Cargill, accounted for a share of 66.5% in the global soy and milk
protein market in 2011. To maintain a lead in the global soy and milk
protein ingredients market, the established players are shifting
their focus towards product innovation and differentiation through
the development of new and high quality products and packaging.
The
global soy and milk protein ingredients market is expected to expand
at a CAGR of 5.6% from 2011 to 2018. In 2015, the market was valued
at US$24.14 bn and is well-poised to reach US$28.54 bn by the end of
2018. Based on product types, the soy protein hydrolysates segment is
expected to register strong growth and dominate the global soy and
milk protein ingredients market with a contribution of approximately
57.5% to the total market revenue. The soy hydrolysates segment is
anticipated to rise at a CAGR of 6.3% during the forecast period.
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Geographically,
Europe is projected to emerge dominant in the consumption of milk
protein products and hold the leading shares until 2018 owing to the
usage flexibility of milk protein concentrates and low cost of milk
protein ingredients. The market for soy and milk protein ingredients
in Europe is anticipated to rise to a valuation of US$13.23 bn by
2018 from US$11.26 bn in 2015.
Change
in Food Consumption Patterns to Drive Consumption of Soy and Milk
Protein Globally
Earlier,
due to the lack of knowledge regarding the benefits of various types
of proteins, consumers tended to refrain from the consumption of
proteins. However, owing to changing lifestyle and concerns regarding
healthy living and consumption of balanced diet, consumers have
shifted towards the consumption of proteins, specifically soy and
milk proteins.
According
to a TMR analyst, “A visible change in food consumption patterns
and intake of high-nutrition diet is likely to fuel the demand for
soy and milk protein ingredients.” The need for protein rich food
products for infants such as cereals is further expected to drive the
growth of the global soy and milk protein ingredients market.
Moreover, the availability of strong scientific evidential support
regarding the health benefits of proteins along with rise in the
research and development activities regarding the development of
advanced soy and milk protein ingredients with a wider application
scope are further anticipated to drive the growth of the global soy
and milk protein ingredients market.
Volatile
Prices of Raw Materials to Inhibit Growth of Global Soy and Milk
Protein Ingredients Market
Owing
to the imbalance in the demand and supply of raw materials,
specifically grains, the price of soybean is prone to fluctuations.
The volatile prices of raw materials ultimately result in a
significant rise in the cost of production of soy protein
ingredients. As a result of this, manufacturers refrain from
manufacturing protein ingredients. The high cost of protein products
is also likely to impede the demand for soy and milk protein
ingredients in the coming years. Furthermore, strict government
imposed regulations are anticipated to inhibit the growth of the
global
soy and milk protein ingredients market.
Untapped
Markets to Provide Profitable Growth Prospects to Manufacturers
Increasing
awareness regarding the benefits of proteins among consumers in
several emerging economies such as India and China is likely to
provide manufacturers with lucrative opportunities in terms of
business expansion in these untapped markets. Moreover, the growing
demand for soy and milk protein ingredients form specific consumer
segments such as patients suffering from diabetes, obesity, and
cardiac patients as well as from pregnant women is further
anticipated to help manufacturers expand their consumer base.
The
review is based on a report titled, “Soy & Milk Protein
Ingredients Market (Concentrates, Isolates & Hydrolysates) -
Global Industry Analysis, Market Size, Share, Growth and Forecast
2010 - 2018.”
Soy
protein ingredients market, by types
- Soy Protein Isolates
- Soy Protein Concentrates
- Soy Protein Hydrolysates
- Soy Flours
- Others
Soy
protein ingredients market, by applications
- Bakery & Confectionary
- Meat Alternatives
- Functional Foods
- Dairy Replacement
- Infant Foods
- Others
Milk
protein ingredients market, by types
- Milk Protein Concentrates & Isolates
- Casein/Caseinates
- Whey Protein Concentrates
- Whey Protein Isolates
- Whey Protein Hydrolysates
- Skimmed milk powder
- Other
In
addition the report provides a cross-sectional analysis of all the
above segments with respect to the following geographical markets:
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
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