Plant-Based Protein Is Fastest Growing Segment Fueling The Growth Of Soy And Milk Protein Ingredients Market
The global Soy And Milk Protein Ingredients Market is estimated to be valued at US$ 34.96 Bn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Soy and milk protein ingredients include products derived from soy and milk such as soy protein isolates, concentrates, and textured proteins, and milk protein concentrates and isolates. These versatile and cost-effective ingredients are used in various food products like bakery, beverages, snack food, meat alternatives, and other processed foods to enhance their nutritional profile. Market key trends: One of the key trends in the soy and milk protein ingredients market is the rising demand for plant-based proteins. Consumers are increasingly preferring vegan and vegetarian diets due to health, ethical, and environmental concerns regarding animal products. This has propelled the demand for plant-based meat and dairy alt