The global soy and dairy protein ingredient market revenues are expected to reach USD 28.90 billion by 2020, growing at a CAGR of 6.5% from 2014 to 2020. Increasing market acceptance, especially in functional foods and dietary supplements is expected to drive protein ingredient demand over the next six years. Additionally, consumer attitude towards these products has undergone a transition over the last five years; this trend is expected to remain strong in the near future as consumers look for healthier and sustainable options.
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Further Key findings from the study suggest:
• The global demand for protein ingredients was 3,186.7 kilo tons in 2013 and is expected to increase to 4,583.1 kilo tons by 2020, growing at a CAGR of 5.4% from 2014 to 2020.
• Plant proteins accounted for over 56% of global volumes in 2013, and are expected to continue dominating the market over the next six years, growing at an estimated CAGR of 6.3% from 2014 to 2020.
• Plant protein ingredients were dominated by soy based products, accounting for over 70% of global volumes in 2013. Global demand for soy protein concentrates is expected to reach 967.6 kilo tons in 2020, growing at an estimated CAGR of 6.3% from 2014 to 2020.
• Europe was the largest market for protein ingredients in 2013, accounting for 45% of the global consumption. Asia Pacific is expected to be the fastest growing regional market, with revenues is expected to reach USD 5.53 billion in 2020.
• The global market is highly concentrated with top four participants catering to over 70% of global demand. The market is dominated by integrated participants such as DuPont Solae, Bunge, ADM and Cargill.
Grand View Research has segmented the global protein ingredients market on the basis of product, application and region:
Soy protein ingredients Product Outlook (Volume, Kilo tons; Revenue, USD Million; 2012 - 2020)
• Soy Protein Concentrates
• Soy Protein Isolates
• Soy Protein Hydrolysates
• Other Plant Proteins (Wheat, Rice, Potato)
• Total
Soy protein ingredients Application Outlook (Volume, Kilo tons; Revenue, USD Million; 2012 - 2020)
• Foods & Beverages
• Infant formulations
• Personal care & cosmetics
• Animal Feed
Dairy protein ingredients market Product Outlook (Volume, Kilo tons; Revenue, USD Million; 2012 - 2020)
• Milk Protein Concentrates/Isolates
• Whey Protein Concentrates
• Whey Protein Hydrolysates
• Whey Protein Isolates
• Casein/Caseinates
Dairy protein ingredients Application Outlook (Volume, Kilo tons; Revenue, USD Million; 2012 - 2020)
• Foods & Beverages
• Infant formulations
• Personal care & cosmetics
• Animal Feed
Regional coverage of the database includes:
• North America
• Europe
• Asia-Pacific
• RoW