The "Global Soy and Milk Protein Ingredients Market Report by Product Type, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global market for soy and milk protein ingredients has demonstrated a robust growth trajectory, with the market size attaining a value of US$ 13.9 billion in the year 2023. In light of the current trends and driving factors, projections indicate that the market is poised to expand to US$ 24.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.69% during the forecast period from 2023 to 2032.
Key Growth Drivers
The market is experiencing considerable growth due to multiple factors, including an increasing inclination towards vegan protein products, heightened demand from fitness enthusiasts and athletes, as well as a substantial application of these protein ingredients in animal feed. The market growth is further bolstered by rising consumer health awareness and the pursuit of nutrient-rich dietary intake.
Product Insights
Soy and milk protein ingredients, comprising a diverse range of products such as soy protein isolate, textured soy protein, casein, and various types of whey protein, are garnering significant interest. These ingredients boast a rich nutritional profile, inclusive of essential vitamins and minerals, and are linked to numerous health benefits such as improved cholesterol levels, enhanced muscle mass, and optimized metabolic function.
Application Trends
The expansive utilization of soy and milk protein ingredients spans multiple industries. The food and beverage sector maintains the largest share, incorporating these proteins into a vast array of products such as supplements and ready-to-drink beverages. The versatility of these ingredients is also evident in their adoption in the cosmetics, personal care, animal feed, and pharmaceutical industries.
Regional Analysis
On a regional front, Europe has emerged as the dominant market for soy and milk protein ingredients. The uptick in this region is attributed to heightened consumer awareness and a robust presence of key manufacturing entities. Other significant markets include North America, the Asia Pacific, the Middle East and Africa, and Latin America.
Competitive Landscape
The competitive landscape section of the report offers a granular examination of major industry players, along with market structure, positioning, and strategic developments. The dynamic nature of the market is reflected in the continuous innovations and product introductions by these companies.
Market Outlook
As we advance, the global soy and milk protein ingredients market is expected to continue its upward growth trend, sustained by the ongoing demand for plant-based and dairy protein products. Emphasis on health, wellness, and nutrition is anticipated to remain a significant factor propelling the market forward in the upcoming years.
Industry observers and stakeholders can anticipate continued progress and expansion within this market space, with a strong emphasis on innovation and meeting consumer demands for health-centric food options.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $13.9 Billion |
| Forecasted Market Value (USD) by 2032 | $24.9 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Companies Featured
- Archer Daniels Midland Company (ADM)
- Arla Foods amba
- DuPont Nutrition & Health
- Cargill Inc.
- Kerry Group plc
- Associated British Foods plc
- Charotar Casein Company
- Dean Foods Company
- Fonterra Co-operative Group Limited
- Glanbia plc
- Milk Specialties Global (MSG)
- Omega Protein Corporation
- Linyi Shansong Biological Products Co. Ltd.
- Scoular Company
- Solbar Industries Ltd.
- FrieslandCampina DMV
For more information about this report visit https://www.researchandmarkets.com/r/bj18ud
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240517567447/en/
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