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Global Soy Protein Ingredients Market Report 2023: Demand for Cheaper Protein Sources Bolsters Growth
Global Soy Protein Ingredients Market
Dublin, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The "Global Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, Textured Soy Protein, Soy Flours), Application (Food, Feed), Form (Dry, Liquid), Nature, Function, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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. Soy has high nutritive value and is rich in protein content. Protein is essential for important body functions.
The demand for protein-enriched food items is on a rise globally. With the growing vegan trends, soy has came up as an important meat and dairy products alternative in the market. Soy based protein is used by consumers for important functions such as muscle and weight management thereby driving its growth.
Asia-Pacific is projected to witness the growth of 9% during the forecast period making it the fastest-growing market
The soy protein ingredients market in Asia-Pacific is growing at a CAGR of 9%. The Asia-Pacific region consists of a rising population, some of the world's fastest-growing economies, and a growing preference for vegetarian and vegan foods, which is expected to thrive the soy protein ingredients market in the region. Moreover, major players are expanding their sales presence and manufacturing plants in the region, pumping the soy protein ingredients market's ecosystem in the fastest growing region.
The conventional segment by nature dominates the soy protein ingredients market
Though demand for organics is high, chemical pesticides and fertilizers still dominate the farms, especially in developing regions, due to their lower price. As a result, the overall price of the final food and feed product manufactured using inorganic soybean remains significantly lower, targeting consumers in the same region.
Product pricing is a crucial factor in capturing and targeting consumers. To target consumers in developing markets, where per capita income is still rising, and overall awareness and regulatory stringency are low, inorganic soy protein ingredients-based food and feed items can be sold easily. Thus, price is an important factor that is considered an advantage to the sales of conventional soy products, driving the market.
Change in consumption pattern with growing vegan population is creating opportunities in the soy protein ingredients market
The rising vegan population, especially in developed regions such as Europe and North America, has significantly supported the growth of the soy protein ingredients market. In Europe, the vegan population mainly consists of consumers above the age of 15 years. This trend is attributed to the health benefits associated with vegan diets. Lower levels of cholesterols & blood pressure, low body mass index, and reduced chances of heart disease are perceived to be met by adopting vegan diets. This trend is expected to drive demand for plant-based protein sources as an alternative to animal or fish products.
Market Dynamics
Drivers
Demand for Cheaper Protein Source
Preference for Soy as Meat and Dairy Protein Alternative
High Nutritive Value of Soy
Restraints
Anti-Nutritional Components of Soy Protein
Ban on Soy Products of GM Origin
Opportunities
Demand for Organic Soy Protein
Growth in Demand in Other Applications
Demand for Plant-based Protein from Growing Vegan Population
Challenges
Unpleasant Flavor of Soy Products
Report Attribute | Details |
No. of Pages | 246 |
Forecast Period | 2022 - 2027 |
Estimated Market Value (USD) in 2022 | $7.7 Billion |
Forecasted Market Value (USD) by 2027 | $10.8 Billion |
Compound Annual Growth Rate | 7.0% |
Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Soy Protein Ingredients Market, by Type
7.1 Introduction
7.2 Soy Protein Concentrates
7.3 Soy Protein Isolates
7.4 Textured Soy Protein
7.5 Soy Flour
7.6 Other Types
8 Soy Protein Ingredients Market, by Application
8.1 Introduction
8.2 Food
8.3 Feed
9 Soy Protein Ingredients Market, by Form
9.1 Introduction
9.2 Dry
9.3 Liquid
10 Soy Protein Ingredients Market, by Nature
10.1 Introduction
10.2 Conventional
10.3 Organic
11 Soy Protein Ingredients Market, by Function
11.1 Introduction
11.2 Muscle Health
11.3 Heart Health
11.4 Weight Management
11.5 Other Functions
12 Soy Protein Ingredients Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Adjacent and Related Markets
16 Appendix
Companies Mentioned
ADM
AG Processing Inc.
Bremil Group
BRF Global
Cargill, Incorporated
CHS Inc.
CJ Selecta
Crown Soya Protein Group Company
Devansoy
Farbest Tallman Foods Corporation
Foodchem International Corporation
Fuji Oil Holdings Inc.
International Flavors & Fragrances Inc.
Linyi Shansong Biological Products Co. Ltd.
Living Foods
Nordic Soya OY
Now Foods
Process Agrochem Industries Pvt Ltd.
Rio Pardo Proteina Vegetal SA
Shandong Sinoglory Health Food Co. Ltd.
Sotexpro
Taj Agro International
The Scoular Company
Titan Biotech
Wilmar International Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/lk3bur-soy?w=12
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