The soy & dairy protein ingredients market will be around USD 29 billion by 2020. Its volumes, which were 3, 190 kilo tons in 2013, may surpass 4, 500 kilo tons by 2020. The strongest driver of this market is the well-established connection between protein consumption & human health. Proteins are a vital component of cells and contribute body fitness.
Consumers are aware of the advantages of functional foods & dietary supplements. High prices of egg proteins discourage their consumption. Sensitivity to wheat glucans is rising, especially in the U.S. These factors fuel demand for soy & dairy protein ingredients. However, the market could be negatively affected by pricing volatilities from irregular soybean supply.
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The soy & dairy protein ingredients market can be classified on the basis of products, applications, and regions. Product segments include soy and dairy. Soy proteins are sub-segmented into concentrates, hydrolysates, isolates, and other plant proteins. Other plant proteins cover wheat, rice, and potato.
Concentrates accounted for more than 30% volumes in 2013. They were thus, the highest consumed soy protein that year. Isolates stood second, with 32% volumes in 2013. They consist of about ninety percent proteins. Isolates are also used in the food industry. When added to meat, they improve its texture & quality.
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Dairy protein ingredients are split into milk protein concentrates, whey protein isolates, whey protein concentrates, whey protein hydrolysates, and caseins. Whey protein concentrates held the highest share among dairy products.
Application segments of the soy & dairy protein ingredients market include infant formulations, foods & beverages, personal care & cosmetics, and animal feed. Food & beverages held over half of the total volumes in 2013. This was attributed to demand for functional foods in developed countries. Infant formulations accounted for around 21% volumes in 2013.
Regional segmentation comprises North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe generated over 44% demand in 2013. Asia Pacific should grow at the fastest rate (CAGR of 6.5%) from 2014 to 2020. The global soy & dairy protein ingredients market is moderately concentrated. Its key players cover Cargill Inc., Mead Johnson Nutrition Company, DuPont, and Bunge Ltd.
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