(Food-Beverage-News.Com, July 09, 2019 ) The report "Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, and Soy Flours), Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, Infant Foods, and Feed), and Region - Forecast to 2022", The soy protein ingredients market is estimated at USD 9.07 Billion in 2017 and is projected to reach USD 12.84 Billion by 2022, at a CAGR of 7.2% from 2017. The market is driven by factors such as soy protein being a cheaper source of protein, consumer preference for alternatives of meat and dairy proteins, and high nutritional values associated with soy.
Significant growth for soy protein ingredients is observed in the Asia-Pacific region
Increasing consumption of processed foods and inclusion of western influences in food diets have led to a significant demand for soy protein in the region. This is expected to significantly drive the market during the forecast period. The consumption and application rate of soy protein concentrates and isolates is increasing gradually. Apart from soy protein concentrates and isolates being used widely in the meat processing industry, they are also considered essential for use in dairy replacements, fermented dairy products, desserts, infant formula, dietary supplements, livestock feed, pet food, and functional beverages, thereby leading to further growth of the soy protein ingredients market.
The key players in the soy protein ingredients market include Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Cargill (U.S.), CHS Inc. (U.S.), Kerry Group plc (Ireland), Wilmar International Limited (Singapore), Nisshin OilliO Group, Ltd. (Japan), Ruchi Soya Industries Limited (India), Ag Processing Inc (U.S.), Devansoy (U.S.), The Scoular Company (U.S.), Biopress S.A.S. (France).
Soy protein isolates is projected to be the fastest-growing segment of the soy protein ingredients market, by type, during the forecast period
The high protein content in isolates makes them unique as a nutritional and functional ingredient in beverages. This is one of the leading factors driving the growth of the soy protein isolates market. The additional benefit of using soy protein isolates is their neutral taste and high protein content; also, they are low in fat, oligosaccharides, and fiber, causing less flatulence due to bacterial fermentation. The highly viscous nature of isolates is expected to increase their demand among manufacturers of infant formulas and dairy replacements within three years. Soy protein isolates are used in the food industry for their nutritional and functional characteristics.
The food segment accounted for a larger share in the soy protein ingredients market in 2016
Soy protein ingredients are formulated to suit specific applications such as bakery, confectionery, beverages, dairy replacers, or meat alternatives. They are being used to replace meat and dairy protein products and are thus driving the market of soy protein in the food industry. Also, soy-based protein ingredients are a major source of protein for vegans, worldwide. This is another major factor driving the growth of soy protein ingredients in the food segment.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com
