According to the latest market study released by Technavio,
soy and milk protein ingredients market is expected to grow at a
CAGR of close to 10% during the forecast period.
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Technavio has announced the release of their 'Global Soy And Milk Protein Ingredients Market 2017-2021' report. (Graphic: Business Wire)
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
Personal care and cosmetics
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
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
The top vendors highlighted by Technavio’s food
and beverage market research analysts in this report are:
Archer Daniels Midland (ADM)
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