The global soy protein ingredients market is estimated to register a CAGR of 7.8%, during the forecast period (2018
NEW YORK, Jan. 22, 2020 /PRNewswire/ --
Soy Protein Ingredients Market Insights
The global soy protein ingredients market is estimated to register a CAGR of 7.8%, during the forecast period (2018 - 2023). Soybean is increasingly recognized as an ideal to meat and egg protein, particularly in the backdrop of growing demand for vegan diets. Soybean is one of the few plant protein that contains all eight essential amino acids. It is widely employed for the fortification purposes. In processing arena, it is increasingly utilized as meat extenders and ideal alternative to dairy protein in wide range of the functional beverages.
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Soy Protein Ingredients Market Dynamics
The increasing trend of adding functional foods and nutritional supplements to diet is also propelling the demand for soy protein ingredients worldwide. Consumer oriented research has also prompted the food formulators to seek economical, yet superior quality of meat analogues - soy protein appears to address these needs.
Increasing availability of other sources of plant protein, allergic effects, and anti-nutritional factors are some of the factors restraining the growth of global soy protein ingredients market. Soy protein based nutraceuticals are expected to provide tremendous growth opportunities for soy protein ingredients during the forecast period. The multi-functional traits of soy protein ingredients enables it's usage across wide range of applications in the form of emulsifier, tenderizer, binder, stabilizer, and thickener.
Market Segmentation
Soybeans are processed into three kinds of high-protein commercial products: soy flour, concentrates, and isolates. Textured soy protein, such as meat substitutes, may be derived from one or more combinations of soy protein ingredients. The major application is witnessed in bakery and confectionery, followed by beverages, nutritional supplements, meat extenders & substitutes, and others.
Market Segmentation
The soy protein ingredients market is segmented based on type, application, and geography. The major application of soy protein ingredients is in bakery and confectionery, followed by beverages, nutritional supplements, meat extenders & substitutes.
North America and Europe are two leading regional markets in soy protein ingredients based on global revenues. However, the fastest growing region is Asia-Pacific, which is estimated to expand at a CAGR of 8.9 %. The consumption of health foods and growth in food and beverage segment in developing countries is expected to expand at a high CAGR. India and China are estimated to have steep growth rates.
The leading companies in the Soy protein ingredient market have been undertaking agreements & collaborations and new product launches to achieve global expansion and development in the soy protein ingredients market.
Key Developments in the Soy Protein Ingredients Market
- April 2017 - DuPont Nutrition & Health launched its new SUPRO XT55 Isolated Soy Protein, designed specifically to improve the profitability of ready-to-drink, high protein beverages by helping beverage manufacturers more effectively manage protein costs
- March 2018 - Greenwave Foods has announced a launch of non-GMO soybean based salt snacks Crunch-a-mame edamame puffs
Recently, The FDA has proposed to revoke its regulation authorizing the use of health claims on the relationship between soy protein and coronary heart disease on the label or in the labeling of foods. The American Heart Association, together with the American Stroke Association has supported FDA stating that the health claim does not meet the significant scientific agreement
Soy Protein Ingredients Market Competitive Landscape
The major players in global soy protein ingredients market include - Archer Daniels Midland Company, Burcon Nutrascience, CHS Inc, Cargill, DuPont, Euroduna, Farbest Brands, Food Chem International, Fuji oil, Kerry Group, The Scoular Company, and Wilmar International.
Reasons to Purchase Soy Protein Ingredients Market Report
- Analyzing outlook of the market with the recent trends and Porter's five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
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