Global Soy Fiber Market: Outlook
It has been long established that inclusion of soluble & non- soluble fiber in the diet is a must for the well-being of an individual. Soy fiber has been one of the most preferred go-to dietary fiber since it was introduced in the market. Today, soy fiber market has established itself in multiple sectors of goods. Soy fiber is extracted from de-oiled soya bean as it makes up for 9% of the dry weight of a soya bean plant. Soy fiber market shows its presence in a plethora of industries which includes nutraceuticals, textile, food, and beverages etc. The ease of access to raw material and multiple application of soy fiber makes the future aspect for the soy fiber market stronger. The consumer of today continues to demand for healthier food products. Given a choice, the consumer will always choose an improvised food product to maintain a good health over pharmaceutical alternatives. With hectic schedules and growing trend for healthier lifestyle, the demand for dietary supplements is on a rise. Soy fiber has a huge presence in the dietary fiber market and is available in multiple different forms.
Soy fiber: meat of the future
Following the popular culture of veganism, many people are turning towards vegetarianism. Soy fiber has been one of the key elements for the development of meat alternatives. Meat has a specific texture because of which it is more appealing as a food preference for many. Almost all the meat alternatives that exist in the market use soy fiber as a texture enhancer or use it as a complete alternative in form of soy fiber nuggets. The preference of a vegan culture worldwide in synergism with soy being the go-to fiber as a substitute indicates a surge in demand for soy fiber in the market over the forecast period from multiple regions.
Soy fiber in nutraceuticals: new & trending products incorporating soy fiber
Soy fiber available for commercial use is used primarily as a binder in multiple food products. Meat substitutes are a part of the product portfolio that utilize soy fiber. Nutrition bars, snack bars, cereal processing also use soy fiber as a binding agent. With properties like neutral taste, low cost and easy availability, soy fiber makes for an excellent food additive. According to the studies conducted in 2015 by Tasnim Farzana et.al., inclusion of soy protein in edible flour and biscuits improved the nutritional as well as the sensory quality of the final product. With the marginal increase in cost for a much higher gain in terms of quality of the final products, many companies are opting for soy fiber as a must-have additive. With the rise in demand for nutraceutical products and demand for new and improved food products in the market, the demand for soy fiber is also on the rise.
Global Soy Fiber Market: Segmentation:
- By Type:
- By source:
- Soy bran
- Soy cotyledon
- By end use:
- Meat substitutes
- Processed food
- Feed additive
- By Distribution Channel:
Global Soy Fiber Market: Key Players:
Some of the key players in the soy fiber market are Ruchi Soya industries Ltd., Dupont Danisco, Nutra food ingredients, Healthy food ingredients, FOODCHEM international corporation, Pacific Soyabean and grain, Euroduna Food Ingredients GmbH, Archer Daniels Midland, Shandong Yuxin Bio-Tech Co. Ltd., NOW FOODS.
Opportunities for Market Participants in Soy Fiber Market:
Inclusion of soy fiber in products as a marginal increase in production cost and a high quality end product has led to an increase in demand of soy fiber in the market. The demand from meat industry for soy fiber has also been on the rise owing to its texture improving qualities. With major flour manufacturers like ITC opting to include soy fiber in their products, the soy fiber market is witnessing a steady increase in demand.
Global soy fiber: A Regional Outlook
With Asia-Pacific, Western Europe and Eastern Europe regions being heavily wheat and wheat product dependent, the demand for soy fiber as a food additive comes primarily from these three regions, followed by North America. The demand for soy fiber as a feed additive in the market comes primarily from the Asia Pacific and Latin America region, courtesy to the highest combined livestock population. Western Europe, Eastern Europe and North America regions also have a higher disposable income than Asia Pacific which indicates that the demand for nutraceuticals is anticipated to witness a pattern of growth from these region. A shift towards a vegan lifestyle worldwide, especially clustered in developed regions such as North America, Eastern Europe and Western Europe has led to an increase in demand for meat substitutes in the market. Soy fiber being a key ingredient in meat substitutes, has seen a surge in demand from aforementioned regions. The demand for soy fiber will continue to grow exponentially with meat substitutes being available in more regions and vegan population increasing.
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