Published: Aug, 2019
Protein concentrates have become immensely popular across the food industry. Protein supplements have gained traction across the fitness industry, and several brands for these supplements have glutted the market. Hence, the global soy protein market is projected to attract fresh revenues in the years to follow. The presence of a mature industry for food manufacturing in some developed regions has played an integral role in driving market demand. Soy protein, when consumed in regulated quantities, is believed to serve tremendous health benefits for humans. Hence, a large part of population has no qualms in consuming soy protein in concentrated forms.
Companies manufacturing protein supplements have gone an extra mile in positioning and advertising their products. These companies have paired benefits of soy protein with modern concepts of fitness, body positivity, and better health. All of these standpoints have been repackaged in rigorous marketing campaigns that appeal to the conscience of the masses. Hence, the global soy protein market is projected to become a goldmine of progress in the years to follow. The stipulation of laws and necessary practices within the food industry is expected to exercise influence on the growth of the market.
Unconventional means of promotion are expected to dominate the marketing landscape in the years to follow. The vendors in the soy protein market focused on product differentiation and improved packaging in order to gain the trust of the consumers. Furthermore, promotion of organic foods could also recalibrate focus toward soy protein products.
Transparency Market Research (TMR) predicts that the global soy protein market would grow at a moderate CAGR of 5.5% over the period between 2016 and 2024. The total value of the soy protein market is poised to reach US$7.78 bn by 2024-end, rising up from a value of US$4.80 bn in 2015.
Key Facts about Soy Protein Help in Promotions
A recent study found that soy protein could help in regulating blood oestrogen levels. This factor could lead women in reproductive age to consume soy protein in greater amounts. Hence, there is enough reason to believe that the global soy protein market could expand at a stellar pace.
However, market players are making efforts to stay wary of false information being shared across online platforms. A large number of consumers are quick to trust online sources for information regarding food and protein supplements. This factor is playing a pivotal role in defining the growth trajectory of the global soy protein market. The recurring need for better health supplements has also emerged as an important driver of demand. The cholesterol regulation effect of soy protein has fetched a new consumer base for vendors operating in the global market.
Growing Popularity of Soy Protein in the U.S.
People in developed countries such as the U.S. and the U.K. are well-informed about food supplements and other similar products. This factor has given a thrust to the growth of the soy protein market in these regions. Sizable growth of the protein supplements market in the US has given an impetus to the North America soy protein market. Furthermore, the growing propensity of the masses toward working out and performing strenuous activities has also generated huge-scale demand within the global soy protein market.
Some of the notable players operating in the global soy protein market are Wilmar International, Ruchi Soya Industries, E. I. du Pont de Nemours and Company, Shandong Yuwang Ecological Food Industry Co., Ltd., and The Scoular Company.
The review is based on TMR’s report titled, “Soy Protein Market (Product Type - Isolates, Concentrates, and Hydrolysates; Form - Dry and Liquid; Application - Functional Foods, and Bakery and Confectionary; Function - Nutrients, Emulsifier, Fat & Water Absorption, and Texturants) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.”
The global soy protein market is segmented on the basis of:
- Soy Protein Isolates
- Soy Protein Concentrates
- Soy Protein Hydrolysates
- Dry Soy Protein
- Liquid Soy Protein
- Functional foods
- Meat alternatives
- Dairy alternatives
- Infant formula
- Bakery & confectionery
- Fat & Water Absorption
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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