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Soy Protein Market (Product Type - Soy Protein Concentrates, Soy Protein Isolate, Textured Soy Protein, and Soy Flour, Grits, Chunks; Application - Food & Beverage, Meat, Poultry, & Seafood, Meat Alternatives, Bakery & Confectionary, Infant Foods, Dairy & Dairy Replacements, and Animal Feed): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : May, 2022

  • Rep Id : FB0178

  • Category : Food & Beverages

  • Status : Published

A recent report ongoing study by Infinium Global Research on the soy protein market provides an in-depth analysis of segments and sub-segments in the global as well as regional soy protein market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional soy protein market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global soy protein market. According to the report, the global soy protein market is projected to grow at a significant CAGR over the forecast period of 2022-2028.

 

Market Insight

The global soy protein market was valued with a significant CAGR during the forecast period. Soy protein is a very rich source of lean, cholesterol-free, and lactose-free protein and offers numerous health benefits to consumers. Soy protein is isolated from soybeans and is widely utilized to replace animal proteins in human consumer diets. Soy protein is low in fat and destitute of saturated fats and cholesterol, which makes it a perfect protein source for reinforcing the density of foods. Increasing concentration on lean protein sources and nutritionally dense foods and advancements in nutrition science and exercise physiology are some key factors boosting demand for soy protein and soy foods and are expected to contribute to the market growth over the forecast period. Soy protein is the only vegetable protein that's a whole protein and essentially fits within the recommendations of nutrition experts.

 

The increasing awareness about the advantages of protein and growing demand for a protein-rich diet, growing health and wellness trend, increasing consumers’ concentration on meat alternatives, and advancements in ingredient technologies like microencapsulation are the key factors driving the expansion of the general soy protein market. The global protein demand is rising in parallel with the growing population. The high protein trend is gaining traction and can still evoke interest in the upcoming years. As per the Food and Agriculture Organization (FAO), in 2050, the worldwide food demand, particularly for protein, is twice the demand in 2013. Moreover, consumers became more attentive to protein benefits in supporting a full-of-life lifestyle. Protein-rich diet has been proven to alleviate several health concerns. As a result, consumers have increasingly started incorporating a specific amount of protein into their daily diets. This can ultimately be resulting in a big increase in soy protein production and consumption, worldwide. The most important factor that's to blame for hindering the market growth is the presence of other substitutes within the market. Plant-based proteins are rapidly gaining popularity across the planet and makers are choosing different plant-based proteins like pea protein, wheat protein, rice protein, pulses, canola, flax, and chia protein when soy is not used.

The global pandemic has impacted economies and industries badly due to lockdowns and restrictions on travel and transport. The food & beverage industry is considered a prominently hit industry around the world and faced serious disruptions in terms of the supply chain, distribution cancellations, and closures of businesses as a result of the pandemic. The Lockdown situation in major soy protein manufacturing countries affected the supply chain of the raw material. As the situation was becoming more critical the consumption of soy protein-based products was increased due to the growing need for healthier food options, and hence, the growth of the market was enhanced.

 

Based on the region, the worldwide soy protein market is segmented into the Asia Pacific, North America, Europe, and the Middle East & Africa. North America is anticipated to witness the highest market share over the forecast period. The growth of the market is attributed to a growing inclination toward a vegan diet; increasing health consciousness; a rising number of women working outside the home; health & wellness trends; and huge production of soybean in the region. Asia Pacific region is anticipated to dominate the expansion of the market during the forecast period. The rising presence of major market players is predicted to propel the expansion of the region.


Soy Protein Market

 

Segment Covered

The report on the global soy protein market covers segments such as product type and application. On the basis of product type, the sub-markets include soy protein concentrates, soy protein isolate, textured soy protein, soy flour, grits, and chunks. On the basis of application, the sub-markets include food & beverage, meat, poultry, & seafood, meat alternatives, bakery & confectionary, infant foods, dairy & dairy replacements, and animal feed.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Cargill Inc., Kerry Group, E.I. Dupont De Nemours and Company, NOW Foods (NOW Health Group, Inc.), Burcon Nutrascience Corporation, SOTEXPRO SA, Farbest-Tallman Foods Corporation, Wilmar International and CHS Inc, Nisshin Oillio Group, Ltd., and Ruchi Soya Industries Ltd.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors driving and restraining this market's growth. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the soy protein market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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