Dairy Testing Market Trends, Opportunities, and Forecast

The dairy testing market size is estimated at USD 7.42 billion in 2025 and is projected to reach USD 11.05 billion by 2030, at a CAGR of 8.3% from 2025 to 2030. The global dairy testing market is growing substantially. This growth is attributed to various factors such as the growing demand for safe, high-quality dairy products from consumers. As awareness about food safety and health issues increases among consumers. This raises the need for the dairy testing services in the market. Governments and international bodies also impose stricter regulatory standards, which compel dairy producers to follow safety and quality guidelines. The growing consumption of dairy products, especially in emerging markets with expanding populations, fuels the demand for testing services.

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Based on test type, the safety testing segment dominated the dairy testing market during the study period.

The safety testing segment is estimated to dominate the dairy testing market because of increasing concerns related to food safety, foodborne diseases, consumer awareness, and stricter regulatory requirements. Moreover, with a continuously increasing demand for dairy products, especially in regions like Asia Pacific, where dairy consumption is on the rise, ensuring the safety of products has never been as important as it is currently. There are various concerns about the contamination of dairy products with harmful pathogens such as Salmonella, E. coli, and Listeria, and chemical residues from antibiotics, pesticides, and heavy metals in milk and its by-products, such as cheese and milk powder. Increasingly health-conscious consumers increasingly expect dairy products to be safe, free from harmful contaminants, and of consistent quality.

Governments and regulatory agencies across the world are tightening the rules and regulations related to food safety, forcing dairy manufacturers to test their products with very high standards and quality assurance. In Europe, the United States, and even in emerging markets, safety standards are not only a necessity for consumer health but also a requirement to gain consumer confidence and open international markets.

The rapid technology segment within the technology has a larger share and is growing at a higher CAGR in the dairy testing market during the forecast period.

Rapid technology will lead the dairy testing market, as consumers demand faster, more accurate, and cost-effective testing solutions. Traditional methods for dairy testing, though effective, take a large amount time and thus may delay product release and increase costs. However, the growth in the technological area, like real-time PCR, biosensors, and high throughput testing systems, is rapidly changing the industry in terms of quicker and more accurate detection of contaminants, pathogens, and quality indicators in dairy products. There is increased emphasis on improving the timeliness of production-to-market with the fast expansion of the global dairy industry, especially in a region like Asia Pacific, as dairy consumption increases rapidly. Rapid testing technologies allow fast decisions to be made, meaning issues in the production process can be found promptly with only safe, high-quality products reaching consumers.

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Europe holds a significant market share in the dairy testing market.

Europe holds a significant market share in the dairy testing market. This growth is attributed to the robust advanced technological infrastructure, regulatory frameworks, and the high demand for dairy products that meet stringent safety and quality standards. Europe comprises some of the world’s most severe food safety regulations, such as those established by the European Food Safety Authority (EFSA) and the European Union, which require dairy producers to ensure their products are free from harmful contaminants, pathogens, and adulterants. This creates the demand for the dairy testing market in the region. Furthermore, Europe is home to various dairy testing service-providing companies including SGS Institut Fresenius Bureau Veritas Eurofins Scientific Intertek Group plc in countries such as Germany, France, and the UK.

Top Dairy Testing Companies:

The report profiles key players such as SGS Institut Fresenius (Germany), Bureau Veritas (France), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), TÜV SÜD (Germany), TÜV NORD GROUP (Germany), ALS Limited (Australia), AsureQuality (New Zealand), Mérieux NutriSciences Corporation (US), Romer Labs Division Holding (Austria).

Industrial Enzymes Market is Expected to Grow $10.2 billion by 2028

The global industrial enzymes market will grow from USD 7.4 billion in 2023 to USD 10.2 billion by 2028, growing at a CAGR of 6.6% during the forecast period. One of the key reasons for the rising importance of industrial enzymes is their unparalleled efficiency. These catalysts possess the remarkable ability to accelerate chemical reactions without being consumed themselves. By operating under mild conditions, such as low temperatures and pH levels, enzymes reduce energy requirements and associated costs. This heightened efficiency translates into improved productivity and shorter production cycles, enabling businesses to optimize their operations and maximize output.

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The feed application of the industrial enzymes segment is driving the market due to improving nutrition

Feed enzymes play a pivotal role in driving the development of cutting-edge animal diets. With a deepening understanding of animal physiology and the intricate interplay between nutrients and enzymes, researchers are actively creating innovative enzyme formulations to precisely target specific dietary components. These advancements enable the formulation of highly tailored diets that cater to the distinct nutritional requirements of diverse animal species and various stages of production.

The microorganisms’ enzymes segment is driving the market in industrial enzymes

Microorganism enzymes demonstrate remarkable versatility and adaptability, rendering them highly desirable across a wide range of industries, including food and beverage, pharmaceuticals, textiles, biofuels, and agriculture. Their ability to be engineered and modified enables them to precisely target specific substrates and perform an extensive array of enzymatic reactions. This inherent flexibility allows for their application in various industrial processes, where they excel in effectively breaking down complex compounds like lignocellulosic biomass, transforming them into valuable products. Moreover, through the utilization of genetic engineering techniques, microorganism enzymes can be tailored to exhibit superior performance characteristics such as enhanced catalytic properties, increased thermostability, and improved resistance to harsh conditions. This level of specialization empowers them to meet the precise needs of specific industrial applications and processes, making them an ideal choice in the business landscape.

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South America is witnessing growth in the industrial enzymes market due to government support

The demand for industrial enzymes in South America is witnessing significant growth due to several key factors. The region boasts abundant agricultural resources, encompassing crops like corn, sugarcane, soybeans, and cassava. Industrial enzymes play a pivotal role in efficiently utilizing these raw materials by enhancing their conversion into valuable products. For instance, enzymes are extensively employed in biofuel production, facilitating the breakdown of lignocellulosic biomass into fermentable sugars. This enzymatic process maximizes resource utilization while minimizing waste generation, aligning perfectly with the region’s objectives of resource optimization and value addition.

The key players in the industrial enzymes market include BASF (Germany), Novozymes (Denmark), DuPont (US), DSM (Netherlands), Associated British Foods plc (UK), Kerry Group plc. (Ireland), Advanced Enzyme Technologies. (India), Chr. Hansen Holding A/S (Denmark), Amano Enzyme Inc. (Japan), Aumgene Biosciences Pvt. Ltd. (India).

Food Emulsifiers Market Analysis, Trends, & Forecasts

The global food emulsifiers market is estimated to be valued at USD 3.6 billion in 2023. It is projected to reach USD 4.6 billion by 2028, recording a CAGR of 4.9% during the forecast period. Food emulsifiers have gained immense popularity in recent years due to their numerous benefits for improved texture and longer shelf life in food and beverage products. These food emulsifiers are added to food and beverages to create a smooth and consistent texture in foods that would otherwise normally separate or curdle, such as mayonnaise or ice cream.

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Lecithin by type in the food emulsifiers market is projected to grow at the highest CAGR during the forecast period

The market growth of lecithin used as food emulsifiers has been increasing in recent years. Lecithin, a natural phospholipid found in various food sources, is widely used in the food industry to stabilize mixtures of oil and water, thereby improving the texture and appearance of many food products. One of the significant advantages of lecithin is its natural origin and cost-effectiveness, making it a popular choice among food manufacturers. Furthermore, the growing consumer demand for natural food ingredients and the potential health benefits associated with lecithin, including cognitive function improvement, lower cholesterol levels, and liver function improvement, is boosting the demand for lecithin as an emulsifier in the food industry.

Bakery products by application segment are estimated to be the largest segment over the forecasted period

The bakery products segment is expected to be the dominant application area in the food emulsifiers market, owing to several factors such as the increasing demand for bakery products and the benefits of emulsifiers in improving the texture, volume, and shelf-life of such products. Emulsifiers stabilize air bubbles formed during the baking process, resulting in lighter and fluffier baked goods, which are more visually appealing to consumers. The use of emulsifiers can also increase the shelf-life of baked goods and enhance their quality, appearance, and consistency, which is crucial for bakery products.

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North America is projected to be the largest region in the food emulsifiers market, it is anticipated to grow at a significant CAGR

The food emulsifiers market in North America is projected to be the largest region in 2022. This growth is primarily attributed to various factors, such as the increasing demand for convenience and processed food products, particularly in the United States. Consumers in the region are showing a preference for easy-to-prepare and ready-to-eat food products that require emulsifiers as a critical ingredient to maintain the product’s stability and texture. The growing trend of clean label and organic food products, the increasing demand for bakery and confectionery products, and the popularity of functional food and beverages are also driving the growth of the food emulsifier market in North America. In addition, the presence of leading market players such as ADM (US), International Flavors & Fragrances Inc. (US), and Ingredion (US) in the region is further contributing to the growth of the food emulsifiers market in North America. These companies are making significant investments in research and development activities to introduce innovative and sustainable emulsifiers to the market.

Key Market Players

The key players in this market include ADM (US), Cargill, Incorporated (US), International Flavors & Fragrances Inc. (US), Ingredion (US), Kerry Group plc. (Ireland) and Corbion (Netherlands).

Unveiling the Potential: Pea Starch Market on the Rise

The global pea starch market is projected to reach USD 211 million by 2027 and 156 million by 2022, growing at a CAGR of 6.2% from 2022 to 2027. Pea starches have various applications in food & beverages, cosmetics, paper, textile, and animal feed industries, among others. The demand for pea starch in the bakery industry is witnessing a strong demand followed by meat and poultry food applications. The growing popularity of healthy eating among consumers is proliferating the demand for gluten-free, vegan-friendly, and non-GMO products. Pea starch is an excellent food additive that fulfills all these parameters. Pea starch, being a rich source of amylose, offers excellent thickening and gelling properties when compared to other starches commonly used in the food industry.

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Asia Pacific held the largest market share in the pea starch market

Asia Pacific has a huge demand for pea starch from countries such as China, India, Japan, and other Southeast Asian countries. The production of pea starch becomes more economical in these countries due to the availability of ample resources and manpower. Food and beverage are the major application segment where pea starch is being used. Food manufacturers are increasingly using pea starch as a substitute for regular starches owing to their cost-effectiveness to minimize the cost of final products. This also comes up with the presence of price-sensitive consumers across the region. Additionally, the people across the countries in these regions are witnessing changing lifestyles such as growing urban and working populations leading to a shift towards convenience food thereby accelerating the use of pea starch in the market.

Key players in this market include Emsland Group (Germany), Ingredion Incorporated (US), Roquette Freres (France), Vestkorn (Norway), Axiom Foods (US), COSUCRA (Belgium), AGT Food & Ingredients (Canada), Puris Foods (US), NutriPea (Canada), and Organicway (China), among others.

Threat of substitute starches

Pea starch has numerous substitutes in the market, such as potato starch, corn starch, cassava starch, and others. These starches also come under the category of resistant starch. They help in resisting digestion in the gut. This results in numerous health benefits, such as improved absorption of nutrients, which acts as a prebiotic for supporting gut health. This helps in increasing metabolism with improving weight loss. Due to these numerous benefits, the pea starch market could face challenges in the coming years. Furthermore, cassava starch is witnessing high demand due to its easy availability and numerous applications in the food and non-food industries, such as adhesive, pharmaceutical, paper, and textile. Cassava is a good source of resistant starch, which helps manage blood sugar levels and gut health. It also contains vitamin C, a crucial component that can improve immune function and collagen production. The rise in demand for cassava starch can be a major challenge for the pea starch market.

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Growing vegan population and the popularity of plant-based food products

There has been a global change in the diet preferences of consumers. The consumers now prefer non-meat and non-animal origin products, including milk or even milk-based products, thereby leading to a growth in demand for pea-oriented ingredients, such as pea protein and pea starch. Key factors that have led to this shift include health conditions, such as lactose intolerance, meat allergies, and the increase in meat allergies, and increased health consciousness among consumers. These conditions have encouraged consumers to choose plant-based protein and starch with non-allergen ingredients. The use of plant-based proteins has become a trend, with the UN report dated August 2019 backing the claim that plant-based diets can benefit humans to combat climatic changes. It estimates that a quarter of global emissions come from food products, constituting over 26%, including more than half of the emissions from animal products (58%), particularly from beef and lamb. According to the World population review, in 2019, the UK had the highest population of vegans, followed by Australia, Israel, New Zealand, Switzerland, Austria & Germany, and Sweden.

Taste Modulators: Revolutionizing the Food and Beverage Industry

The taste modulators market is projected to reach USD 2.0 billion by 2028 from USD 1.4 billion by 2023, at a CAGR of 7.4% during the forecast period in terms of value. The taste modulators market is growing due to rising health consciousness, addressing the demand for healthier options by reducing sugar, salt, and fat. The surge in obesity and diabetes cases fuels the need for sugar-free and reduced-calorie products, often utilizing taste modulators. Ongoing innovation and the versatility of taste modulators contribute to their widespread application in diverse food and beverage products.

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North America dominated the Taste Modulators market during the study period

The presence of key players such as Ingredion (US), Sensient Technologies Corporation(US), Cargill, Incorporated (US), ADM (US), International Flavors & Fragrances Inc. (US), Icon Foods (US), and Carmi Flavor & Fragrance Co., Inc. (US) underscores North America’s dominance in the Taste Modulators market. These industry leaders strategically align with the region’s dynamic trends, where the surge in demand for clean-label and plant-based products has become increasingly evident. The region benefits from advanced taste modulation technologies, responding to the rising consumer demand for healthier food options. Heightened awareness of health-conscious choices among North American consumers propels the market’s growth. Additionally, the region’s food industry exhibits a proactive approach to aligning products with evolving preferences, emphasizing reduced sugar, salt, and fat. The strategic response to these trends, coupled with an established infrastructure supporting innovation, positions North America as a leader in the taste modulators market.

Key players in this market include DSM (Netherlands), International Flavors & Fragrances Inc. (US), Givaudan (Switzerland), Kerry Group PLC (Ireland), Ingredion (US), Symrise (Germany), Sensient Technologies Corporation (US), Tate & Lyle (UK), Corbion (Netherlands), Takasago International Corporation (Japan), Icon Foods (US), Carmi Flavor & Fragrance Co., Inc. (US), Cargill Incorporated (US), MANE (France), and ADM (US).

The taste modulator market is expanding, propelled by global culinary exploration and technological advancements

The taste modulator market is poised for significant future growth, propelled by a convergence of factors. A primary driver is the escalating consumer interest in global cuisines and exotic flavors, fostering a heightened demand for taste modulators. Consumers increasingly seek diverse and adventurous culinary experiences, prompting the food industry to explore innovative solutions for flavor enhancement. Concurrently, continuous advancements in taste modulation technologies stand as a cornerstone for market expansion. These technological strides inspire product innovation, facilitating a broader spectrum of applications across various food and beverage categories. This evolution aligns with the rising consumer preference for healthier choices, as taste modulators contribute to reducing sugar, salt, and fat content while enhancing flavors. The harmonious interplay between evolving consumer tastes and cutting-edge technology positions the taste modulator market at the forefront of catering to dynamic industry demands, ensuring a future characterized by versatile, health-conscious, and captivating culinary offerings.

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In Taste Modulators, the surge in sugar substitutes is driven by health-conscious consumers and industry innovation

The dominance of sweet modulators in the taste modulators market is underscored by an escalating imperative for reduced sugar formulations driven by heightened health-conscious consumer preferences. This trend signifies a strategic response to global health concerns, particularly obesity and diabetes, with sweet modulators serving as key enablers for the development of low-calorie and reduced-sugar products while maintaining an optimal taste profile. Within this landscape, the food industry’s unwavering commitment to meet evolving consumer expectations further solidifies the pivotal role of sweet modulators. Their prominence is not merely a reflection of current trends but a strategic imperative in product reformulations and driving innovation across a spectrum of applications.

The Growing Demand for Algae Products: Future Projections

The algae products market is estimated at USD 5.3 billion in 2023 and is projected to reach USD 7.3 billion by 2028, at a CAGR of 6.4% from 2023 to 2028. Algae products have diverse applications across various industries, including food and beverages, pharmaceuticals, cosmetics, animal feed, biofuels, and wastewater treatment. The versatility of algae and their ability to be processed into different forms, such as powders, extracts, and oils, make them attractive ingredients for a wide range of products, driving market growth.

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North America is expected to account for the largest market share

The algae products market industry has been studied in North America, Europe, Asia Pacific, South America and Rest of the World. North America is home to several key market players in the algae products industry, including algae cultivators, processors, and product manufacturers. These companies have significant expertise, infrastructure, and distribution networks to meet the growing demand for algae-based products in the region. Their market presence and strong market strategies contribute to the overall market growth and drive the adoption of algae products across various sectors.

Major players operating in the algae products market includes DSM (Netherlands), BASF SE (Germany), Corbion (Netherlands), E.I.D Parry (India), International Flavors & Fragrances Inc (US), Cynotech Corporation (US), Earthrise Nutritionals LLC (US), CP Kelco U.S., Inc (US), Cargill, Incorporated (US), and Algea (Norway).

Carotenoids segment, by type is projected to account for the Second highest CAGR during the forecast period

The growing consumer awareness of the importance of antioxidants and their potential health benefits has increased the demand for algae products rich in carotenoids. These compounds are sought after for their role in maintaining overall health and well-being. The use of algae-derived carotenoids as natural food colorants in the food and beverage industry further drives their market growth.

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Blue green algae segment, by source is projected to witness the highest CAGR during the forecast period

Blue-green algae are widely distributed in various aquatic environments, including freshwater lakes, rivers, and oceans. They are naturally abundant and can be easily cultivated, making them a reliable and sustainable source for algae-based products. The availability of blue-green algae in large quantities ensures a consistent supply for commercial production.

Blue-green algae contain various pigments, such as chlorophyll and phycocyanin, which give them their distinctive blue-green color. These natural pigments are used as food colorants in the food and beverage industry, replacing synthetic dyes. The demand for natural and plant-based food colorants has driven the use of blue-green algae as a sustainable alternative.

Hydrocolloids in Food and Beverage Industry: A Market Analysis

The global hydrocolloids market size was valued at USD 11.2 billion in 2023 and is poised to reach USD 14.5 billion by 2028, growing at a CAGR of 5.4% from 2023–2028. One of the most often utilized additives in the food sector is hydrocolloid. In addition to serving as gelling agent, thickener, emulsifier, fat substitute, and stabilizer, it is also used as flocculating agent, clarifying agent, whipping agent, and clouding agent. Moreover, hydrocolloids are used to create edible films, encapsulate flavors, and inhibit crystallization. Also, it is now known that hydrocolloids have a wide range of functions in the field of health, including the provision of dietary fiber with less calories.

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North America is estimated to be the fastest region during the forecast period

The North American hydrocolloids market is also driven by its application in premium food products. The leading manufacturers of hydrocolloids in North America include Ashland Inc. (US), CP Kelco (US), Cargill, Incorporated (US), Ingredion Incorporated (US), and Darling Ingredients Inc. (US). The North American market is completely driven by the US. The US has a large market for bakery, confectionery, convenience food, and packaged food products; hence, it constitutes a major share in the market. Consumers in the US are calorie-conscious due to which low-calorie and low-fat food products are popular in the country. The increasing prevalence of obesity and cardiac diseases has led consumers to demand natural and low-calorie food products. Food manufacturers are therefore concentrating on the application of natural hydrocolloids and their function as fat replacers.

Key players in this market include International Flavors & Fragrances Inc. (US), Ingredion (US), Cargill, Incorporated (US), Kerry Group plc (Ireland), Associated Archer Daniels Midland Company (US), Palsgaard A/S (Denmark), Darling Ingredients Inc. (US), DSM (Netherlands), Ashland (US), Tate & Lyle (UK), CP Kelco U.S., Inc. (US), Nexira (France), Deosen Biochemical (Ordos) Ltd. (China), Fufeng Group (China), and BASF SE (Germany).

Stabilizers, by function, is estimated to be the fastest-growing function of hydrocolloids during the forecast period

Stabilizers add viscosity to enhance overall flavor and give body to beverages while also preventing sedimentation and keeping ingredients suspended within the finished product. Stabilizers are additives used to help maintain emulsions or prevent degeneration in beverages. The most common stabilizers are hydrocolloids (such as xanthan, gum Arabic, and gum acacia), modified starches, pectin, carrageenan, casein, and inulin. The purpose of stabilizers is to add viscosity to enhance flavor and give body to a beverage. They also maintain emulsification, which prevents sedimentation by keeping additional ingredients suspended in the product.

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The Cosmetics & personal care products segment is projected to be the second-largest market in the forecasted period

Recently, hydrocolloids have found a fit in the personal care industry, often replacing synthetic chemicals with similar properties. Driven by consumers’ thirst for “all-natural” products, many manufacturers are trying to leverage the long history of hydrocolloids in the food industry for personal care applications. Therefore, with wide consumer interest in natural cosmetics, the number and demand for natural texturizers have grown strongly in recent years.

Omega-3 Supplements: The Rising Demand and Future Projections

The omega-3 market is projected to reach USD 7.4 billion by 2029 from USD 3.9 billion by 2024, at a CAGR of 13.5% during the forecast period in terms of value. Conventional fish oil sources are no longer the sole choice. Sustainable and plant-based substitutes such as algae, flaxseed, and chia seed oil are becoming increasingly popular, addressing dietary limitations and ethical considerations. Furthermore, novel formats like micro-emulsified supplements and fortified food items are enhancing convenience and attractiveness, appealing to a broader demographic.

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Plant source segment is expected to maintain consistent growth in omega-3 market during the forecast period

Plant-powered Omega-3s are surging, fueled by ethically-conscious consumers seeking sustainable alternatives. Vegan, vegetarian, and allergy-friendly, these innovative options like algae oil and chia seed extracts boast potential unique health benefits and wider accessibility. Affordability and government initiatives promoting sustainable practices add further momentum. While ensuring potency and educating consumers remain key hurdles, the future of Omega-3 looks green, with this segment poised to shape a more responsible and inclusive market landscape.

North America to dominate the omega-3 market during the forecast period

In North America, the demand for Omega-3 is increasing, particularly in dietary supplement applications, driven by the recognition of Omega-3’s benefits health. Omega-3 fatty acids are among the most popular dietary supplements, known for their potential benefits for heart health, brain function, and overall well-being. The demand for omega-3 supplements in North America has been steadily increasing due to rising awareness about their health benefits and the inclusion of omega-3 in various health recommendations.

Key Market Players

The key players in this market include BASF SE (Germany), Cargill, Incorporated. (US), dsm-firmenich (Netherlands), ADM (US), Kerry Group Plc (Ireland), Croda International Plc (UK), Orkla. (Norway), Corbion (Netherlands), GC Rieber (Norway), Pelagia AS (Norway), KD Pharma Group SA (Switzerland), Cooke Aquaculture Inc. (Canada), AlgiSys Biosciences, Inc. (US), Golden Omega (Chile), AKER BIOMARINE (Norway), and Polaris (France). These market participants are emphasizing the expansion of their footprint via agreements and partnerships. They maintain a robust presence in North America, Asia Pacific, South America, RoW, and Europe, supported by manufacturing facilities and well-established distribution networks spanning across these regions.

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Soy Protein Ingredients Market: Trends, Opportunities & Forecast

The global soy protein ingredients market is estimated to be valued at USD 7.7 billion in 2022. It is projected to reach USD 10.8 billion by 2027, recording a CAGR of 7.0% during the forecast period. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global soy protein ingredients market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The rise in consumer awareness, health consciousness, demand for soy-based meat alternatives, changing lifestyles, and consumption patterns drive the demand in the soy protein ingredients market.

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North America is estimated to dominate the soy protein ingredients market with a value of USD 2,932.1 Million

The ethical limitations and consumer awareness regarding personal and environmental health have contributed greatly to the mass shifting of people toward adopting veganism and flexitarian diets. According to a recent report published in March 2022 by the Plant-Based Foods Association (PBFA), the US plant-based food retail sales reached USD 7.4 billion, outpacing total food retail sales and showing a growth rate of 6.1% in 2021 from the previous year, despite supply chain interruptions and pandemic restrictions. This growth and increase in the demand for and consumption of plant-based foods are likely to continue during the forecast period and present significant business opportunities for soy protein ingredients.

North America is a significant production base for plant-based protein manufacturers, and the US is a key producer of soybean and wheat in the region.

Similarly, in Mexico, the demand for protein-rich food and beverage products is high due to the highly diversified and multicultural population, which is among the key contributors to the growth of plant-based protein offerings in the region.

The key players in this market include ADM (US), Cargill, Incorporated (Sweden), International Flavors & Fragrances Inc. (US) and Devansoy (US).

A wide variety of soy-protein ingredients are available in the Asia Pacific market offered by Wilmar International Ltd

Asia Pacific has a significant market share in the soy protein ingredients market which implies that the demand and consumer awareness is high in the region, making it the most lucrative region for soy protein ingredients market players to enter. Other factors such as rapidly rising urbanization, per capita incomes, population, and fast-growing economies with attractive investment opportunities are pulling investments in the industry from various players around the globe. Singapore-based Wilmar International Ltd is a leading and well-established player in the market. It has a dominant share in the region and globally. The knowledge of consumer perception gives it a competitive edge over other players that are not from the fast-growing region.

The feed segment by application in soy protein ingredients market is relatively small in comparison to the food segment by application

Soy protein ingredient-based feed is relatively less commercialized than soy protein ingredient-based food in the market. This is because the demand for soy-based products for human consumption is high. The animal end-user market is at a very nascent stage, and the importance of soy-protein ingredients-based feed has just started gaining momentum in the market, which already has a big dominant presence of food products in applications such as bakery & confectionery, meat alternatives, dairy alternatives, infant nutrition etc. However, as the awareness in the animal feed segment is on the rise, the demand for the segment is gradually rising, further pushing the players to manufacture products to cater to the interests of the gradually rising market.

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During the forecast period, the soy flour segment by type is expected to grow at a significant CAGR of 5.1%

A wide range of dairy alternatives, meat substitutes, and baked goods use soy flour in various forms. Soy flour either has soybean’s naturally occurring oil content retained to make them full-fat flour, or it can be used as de-fatted flour by solvent-extraction of the oil. Full fat and de-fatted flour products are available in toasted or enzyme-active forms. Soy flour has been gaining considerable significance for processing bakery products, such as bread and cakes, due to its high protein content compared to other plant proteins. Bread made from soy flour is dense, as it is gluten-free. As per a recent article published in Mintel in November 2021, there is a rise in demand for gluten-free foods and drinks. Thus, manufacturers are exploring various gluten alternatives, including flour derived from soybeans, nuts, fruits, and vegetables. This is further driving the market for soy flour which is projected to grow at a significant CAGR during the forecast period.

Inoculants Market: A Comprehensive Guide to Key Players and Forecast

The global inoculants market size is estimated to be valued at USD 1.1 billion in 2022. It is anticipated to reach USD 1.7 billion by 2027, recording a CAGR of 8.1% in value. A more efficient fermentation is expected because of the addition of inoculants. Other major benefits of using inoculants are reduced fermentation losses and enhanced animal performance. Silage inoculants help to increase the nutritive value of feed and increase feed palatability. Adding inoculants and enzymes in silage helps lower the pH values, which, in turn, would help digestion in animals, especially cattle. The rise in demand for high-quality dairy products has encouraged governments across the globe to support silage practices in the respective countries. This has, in turn, boosted the demand for silage inoculants in recent years due to their characteristic of improving the physiological properties of silages

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The South American region is projected to grow at a highest CAGR in the inoculants market during the forecast period

The inoculants market in South America is projected to grow at the highest CAGR from 2022 to 2027. The requirement for better livestock management practices to cater to the increasing demand for meat and dairy products is projected to drive the market for silage inoculants in South America. The availability of arable land and expansion of farmlands, especially in Brazil and Argentina, are promising for growth in this market. Moreover, the demand for organic food products in the region is growing at a robust rate, further driving the agricultural inoculants market.

Key Players in the Market

Key players in this market include Corteva Agriscience (US), BASF SE (Germany), Bayer AG (Germany), Novozymes A/S (Denmark), Cargill, Incorporated (US), Archer Daniels Midland Company (US), DSM (Netherlands), Chr. Hansen Holding A/S (Denmark), Lallemand Inc. (Canada), Kemin Industries, Inc (US), Verdesian Life Sciences (US), BIO-CAT (US), Microbial Biological Fertilizers International (South Africa), Agrauxine (US), and Provita Supplements GmbH (Germany).

Bacterial segment is forecasted to grow at highest CAGR in the inoculants market

Bacterial inoculants serve as an alternative to increase crop productivity reducing the use of fertilizers. Bacterial inoculants are preferred by agricultural inoculant manufacturers, owing to their property of increasing crop yield. It also serves as an alternative to chemicals and fertilizers and promotes organic farming. Demand for organic food products at a global level creates growth opportunities for bacterial inoculant manufacturers. Bacterial characteristics such as biological nitrogen fixation are known to promote plant growth, thus driving the growth of the segment.

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The oilseeds & pulses segment is anticipated to grow at highest CAGR in the inoculants market

Oilseeds & pulses form a staple diet for millions in developing countries where they are grown abundantly. Also, regions that do not cultivate oilseeds and pulses traditionally have started to cultivate them because of their increasing importance as cash crops. Soybean production is expected to reach 441 tons (486.11 tons) by 2030, according to the OECD-FAO Agricultural Outlook 2021. Soybean is also considered a viable alternative forage when alfalfa or clover are in short supply due to winterkilling or drought conditions. Forage soybean is tolerant of drought and thrives when other forage legumes, such as alfalfa, are not available. The increased demand for oilseeds and pulses crops, such as soybean, canola, peas, beans, and other legume crops, is driving the growth of the segment.