Soy and milk proteins ingredient are protein extracted through animal or plant sources. They are important for the proper functioning of the cell. Animal protein is extracted from the egg, fish, meat, and fish whereas plant protein is derived from pea, soy, rice, and wheat. Milk soy protein is preferred by all age group as they contain essential amino acids required by the human body.
The global soy and milk protein ingredients market is estimated to account for US$ 30,141.3 Mn in terms of value and 4,178.7 kilo Tons in terms of volume by the end of 2019.
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 disorder such as cardiovascular health and diabetes is again contributing to the market growth of the soy and milk proteins. All these factors are augmenting the marker growth of the soy and milk proteins ingredient.
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 dry. Thus, the growing use of protein ingredients in cosmetic products is projected to foster the market growth.
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 increase the overall price of the production of protein ingredients and this hinder the market growth of soy and milk proteins ingredient.
On the basis of region, Europe region dominated the global soy and milk protein ingredients market in 2019 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 2019, accounting for 28.1% share in terms of value, followed by Casein/caseinates and milk protein concentrates respectively
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 its excellent emulsifying properties. Moreover, manufacturers are introducing innovative and new whey proteins product for meeting the rising demand around the globe. For instance, in February 2017, Parag Milk Foods has announced the launch of a new ‘absolute whey protein'. The product, under the brand name Avataar, is available in a double chocolate flavor in two different sizes: 2lb and 5lb.
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.
Few Recent Developments
In June 2020, The Scoular Company and Montana Microbial Products announced that they have signed an exclusive licensing agreement to produce and market barley protein concentrate (BPC) for pet food and aquaculture feed in the North American and Asian markets.
By Soy Protein Types
By Milk Protein Types