Published: Jun, 2018
Players in the global soy protein market are foreseen to get the plenty of chances to grow in future, especially from Latin America and from Asia Pacific regions. Out of these, Asia Pacific region is particularly anticipated to emerge as a leading market in terms of opportunities in forthcoming years, along with the entry of new players. Within the forecast period, the major players are indulging into mergers and acquisition strategies, which is a key factor stimulating the growth of soy protein market. Archer Daniels Midland Company, CHS, Inc., E.I. du Pont de Nemours and Company, Willmar International, and Cargill, Inc. are among the leading players operating in global soy protein market. These players collectively account for 66.2% of the overall market share, in past year.
According to a recent report published by Transparency Market Research (TMR), the global soy protein market is prognosticated to expand at a steady CAGR of 5.5% within the forecast period from 2016 to 2024. Based on revenue, in 2015, the global soy protein market was valued around worth of US$4.80 bn. This value is likely to reach around US$7.78 bn before 2024-end.
Based on the application, the soy protein market is categorized into bakery and confectionary, functional foods, and other similar types of applications, for example, fruit drinks, dietary supplements, soups & sauces, animal feed, sports drinks, vegetable broths, and personal care. Geographically, in 2015, the global market dominated by North America region, trailed by Asia Pacific and Europe. This is credited to the rise in awareness about soy product consumption, and increase in disposable income among the people in the regions.
Rise of Functional Food Sector to Fuel Demand for Soy Protein products in Market
One of the major factors, at present, contributing in the growth of global soy protein market is the significant rise and growth of functional food sector. In past few years there has been a notable inclination of people towards the consumption of functional food products as a substitute diet, in case when they miss out of having a balanced diet in their daily lives, due to hectic schedule. Functional foods are not just very beneficial from health and nutrition point of view, but are also manufactured a way that they can be consumed easily.
High Cost of Soy Protein Products to Hinder Market Growth
Various types of functional foods are produced such that they are easy to digest, which makes them an obvious choice apart from baby food. The common types of functional foods are meat alternatives, dairy, and infant formulas that are in demand at present. Some more types of functional foods that are in demand, are convenience beverage powders, energy bars, breakfast cereals, and frozen desserts. However, high cost of these products is a factor that is generally foreseen to hamper the global market of soy protein.
This analysis is based on a recent market research report by Transparency Market Research, titled, “Soy Protein Market (Product Type - Isolates, Concentrates, and Hydrolysates; Form - Dry and Liquid; Application - Functional Foods, Bakery and Confectionary and Others; and Function - Nutrients, Emulsifier, Fat & Water Absorption, and Texturants) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”
- One of the major factors, at present, contributing in the growth of global soy protein market is the significant rise and growth of functional food sector.
- Functional foods are not just very beneficial from health and nutrition point of view, but are also manufactured a way that they can be consumed easily. This makes them an obvious choice in market.
Key segments of the Global Soy Protein Market
Global Soy Protein Market: By Product Type
- Soy Protein Isolates
- Soy Protein Concentrates
- Soy Protein Hydrolysates
Global Soy Protein Market: By Form Type
- Soy Protein Dry
- Soy Protein Liquid
Global Soy Protein Market: By Application Type
- Functional foods
- Meat alternatives
- Dairy alternatives
- Infant formula
- Bakery & confectionery
Global Soy Protein Market: By Function Type
- Fat & Water Absorption
Global Soy ProteinMarket: By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453