LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global soy and milk protein ingredients market is expected to grow at a CAGR of close to 10% during the forecast period.
This research report titled ‘Global Soy and Milk Protein Ingredients Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “Rising health concerns and increasing obesity levels in consumers are resulting in a shift from animal proteins to plant proteins. Consumers are also becoming more conscious of their choice of protein ingredients due to the various diseases that often occur among livestock. Moreover, the rising demand for soy products can also be attributed to various health benefits associated with them.”
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The market research analysis categorizes the global soy and milk protein ingredients market into four major application segments:
- Food and beverages
- Infant formula
- Personal care and cosmetics
- Animal feed
Food and beverages
Soy and milk protein ingredients have a wide range of use in the food and beverage industry. In 2016, the overall protein ingredients market grew by around 7.5% and is expected to grow at a similar rate over the next five years. The use of proteins in beverages grew by around 10% in the last year.
Food manufacturers are developing new beverages using soy proteins that have many nutritional benefits and better taste. Hence, soy beverages such as protein drinks, yogurts, and smoothies are gaining popularity. Milk protein ingredients are commonly found in bakery products, desserts, protein bars, and others.
One of the major applications of soy and milk protein ingredients is in infant formulas. Soy proteins are consumed by 30% of infants in the US. These are available in powdered, liquid concentrated, and liquid ready-to-feed (RTF) forms. However, some infants are intolerant to soy products due to the presence of allergic proteins. Soy proteins have high phytoestrogen content, which can cause allergic reactions in babies.
“Milk protein ingredients are common in infant formulas. Whey milk protein is mainly given to newborns, as the whey milk derived from cow's milk has similar protein ratio to that of human milk,” says Manjunath.
Personal care and cosmetics
The use of soy and milk protein ingredients has extended to the personal care and cosmetics industry as well. Soy protein is useful due to its gelling and emulsifying properties. Hydrolyzed soy protein is usually rich in amino acids that are good for both skin and hair. The soy protein used in skin care products enhances the ability of the skin to hydrate and provides anti-aging benefits by minimizing fine lines and wrinkles. Similarly, soy protein when used in hair care products helps in preventing hair damage. Milk protein is also used extensively to develop skin care products due to its skin care benefits. Milk hydrolysate is also recommended for hair repair.
Soy-based meal continues to remain the main source of protein in animal feed. Soy protein concentrate (SPC) has a protein content of 60% and a high percentage of amino acids. It has uses in aquaculture, acts as starter feeds for pigs and poultry, and can be a suitable milk substitute for calves. For instance, Selecta's SPC and AlphaSoy Premium POULTRY are used as animal feed. Similarly, SupOpta uses genetically modified organism (GMO)-free soy to provide an organic high-protein soybean meal.
The top vendors highlighted by Technavio’s food and beverage market research analysts in this report are:
- Archer Daniels Midland (ADM)
- Arla Foods
- DuPont (DowDuPont)
- FrieslandCampina DMV
- Kerry group
Browse Related Reports:
- Global Protein Ingredients Market 2016-2020
- Global Soy Milk and Cream Market 2016-2020
- Global Soy-based Yogurt Market 2017-2021
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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