Soy & Dairy Protein Ingredients Market size in 2019 is estimated to be $14.5 billion, growing at a CAGR of 5.2% during the forecast period 2020-2025. Protein is a vital constituent of the cells in the human body that help in repairing and healing the human body. Animal Protein is usually derived from fish, milk, meat, egg, and gelatin and plant protein is obtained from rice, pea, soy, canola, and wheat. Increasing awareness about health and advancement in technology are the major factors driving the growth of the market. Moreover, higher standard of living and increasing investment in R&D activities further enhance the overall market demand for Soy & Dairy Protein Ingredients during the forecast period 2020-2025.
Product - Segment Analysis
Based on the Product, Soy & Dairy Protein Ingredient Market is segmented into Concentrates, Isolates, Hydrolysates, Casein. The isolates segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 5% during the forecast period 2020-2025. This is mainly owing to less amount of cholesterol and saturated fats. Moreover, it improvising the eating quality and texture that are contributing to the growth of this segment.
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Application - Segment Analysis
Based on the Application, Soy & Dairy Protein Ingredients Market is segmented into Food and Beverage, Infant Formulation, Personal Care & Cosmetics. In 2019, Food & Beverage held the largest share in the Soy & Dairy Protein Ingredient Market. This is mainly owing to increasing demand for functional food. Moreover, rising consumer awareness towards processed food is also contributing to the growth of this segment.
Geography - Segment Analysis
North America dominated the Soy & Dairy Protein Ingredients Market share accounting for 41% of the market in 2019. This is mainly owing to growing consumer awareness regarding the health benefits of protein and rising consumer inclination towards the plant-protein ingredients and the animal-based protein. According to United States of Agricultural Association, consumption of dairy products is about 646 pounds in 2018 which increases the demand for Soy & Dairy Protein Ingredients Market.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to growing exports and domestic demand for plant and animal protein ingredients.
Drivers – Soy & Dairy Protein Ingredients Market
Increasing Awareness about Health
Increasing awareness about health and increasing consumer preference for healthy food products are some factors driving the growth of Soy & Dairy Protein Ingredients Market. Moreover, consumer inclination towards protein-rich products and demand of ready-to-eat protein product is also set to increase the market growth.
Advancement in Technology
Technological advancement and rising innovation in food processing technologies are some factors driving the growth of the market. Moreover, new and advanced food processing technologies such as high-pressure processing, high-pressure homogenization, helps to increase the shelf-life and preserve nutritional content further contributing to the growth of Soy & Dairy Protein Ingredients Market.
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Challenges – Soy & Dairy Protein Ingredients Market
High production cost of protein ingredients and increasing health problems such as weight gain and rising blood sugar are challenging the growth of the market. Moreover, the high cost of R&D activities of these products are further restraining its market growth during the forecast period 2020-2025.
Soy & Dairy Protein Ingredients Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Soy & Dairy Protein Ingredients Market. Soy & Dairy Protein Ingredients top 10 companies are Archer Daniels Midland Company, DowDupont Inc., Cargill Incorporated, CHS Inc., Kerry Group PLC , Wilmar International Limited , Ruchi Soya Industries Limited , Ag Processing Inc., Nisshin Oillio Group, Ltd., and Natural Products, Inc..
Acquisitions/Product Launches:
On July 2017, Archer Daniels Midland Company launches new soy processing plant in order to increase the production of soy protein ingredients.
On March 2017, DuPont has an acquisition with FMC Corporation which helps to increase the health & nutritional facility.
Key Takeaways
In 2019, North America dominates the Soy & Dairy Protein Ingredients Market owing to growing consumer awareness regarding the health benefits of protein and rising consumer inclination towards the plant-protein ingredients and the animal-based protein.
Increasing awareness about health and advancement in technology is driving the market growth of Soy & Dairy Protein Ingredients.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Soy & Dairy Protein Ingredients Market report.
High production cost of protein ingredients and increasing health problems are challenging the growth of the market.
Related Reports :
A. Soy Protein Market
https://www.industryarc.com/Report/7445/soy-protein-market-analysis.html
B. Dairy Ingredient Market
https://www.industryarc.com/Report/16639/dairy-ingredients-market.html
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