Soy protein ingredients are organic food products used in the processing of food. They are obtained from defatted and dehulled soybean meal. Defatted and dehulled soybean is often processed into three types of high quality proteins namely; soy flours, soy protein isolates and soy protein concentrates.
Consumers’ switch from animal proteins to plant-based protein is a driving force fueling the growth of the global soy protein market.
Soy Protein Ingredient Market Driven by Consumers’ Growing Demand for Healthy Food Products
The soy protein ingredients often serve as an alternative to animal protein in the global market, owing to its organic nature. Soy proteins are a rich source of minerals such as fiber, calcium, iron, potassium, magnesium, and vitamin B. Soy proteins are also rich in proteins. Therefore, they can provide all the essential amino acids needed for the growth and development of the body. Consumers are also on the rise for the consumption of plant based product owing to the rise in awareness regarding the adverse effect of consuming animal protein. Animal protein tends to be less health beneficial for adults and this has made consumers switch towards plant based products.
Furthermore, the health benefits associated with the consumption of soy protein does not exclude any age group. Soy protein is also safe and affordable when compared to animal proteins. The long shelf life of plant-based products is also an advantage for the global soy protein ingredient market. Plant based ingredients rarely spoil unlike animal based ingredients which often decay if not properly stored or used within a specified period.
Soy Protein Ingredient Market Restraints
One of the most significant factors expected to hamper the growth of the global soy protein ingredient market is the rise in demand for top-quality animal-based protein instead of plant-based protein among consumers globally. Also, the presence of whey protein is another factor posing a threat to the soy protein ingredient market as there is a rise in prevalence alternatives among consumer.
Furthermore, the ban on cultivation of genetically modified crops within the European Union is a strong force projected to hamper the growth of soy products in the global market. Countries such as Germany, France, the UK and others within the EU have prohibited the cultivation of genetically modified crops.
Soy Protein Ingredient Market: Region-wise Analysis
The North America soy protein ingredient market is growing at its fastest pace due to changing consumers’ lifestyles and lack of balanced dietary intake. The United States is the largest market in this region, followed by Canada. With the rise in awareness regarding the health benefits associated with the consumption of organic products, especially plant-based ones, the global soy protein ingredient market is projected to rise over the forecast period within North America.
Also, the Asia Pacific region is expected to register a double-digit CAGR during the forecast period with India and China acting as drivers. The rise in demand for nutritional foods among consumers is a factor fueling the growth of India and China’s marketOther regions, such as Africa and the Middle East, are small markets for the soy protein ingredients. However, within the forecast period, these regions are projected to record moderate growth.
Soy Protein Ingredients Market: Competitive Landscape
- Archer Daniels Midland (ADM) Company
- Dean Foods Company
- Armor Proteins
- Gelita Group
- Bunge Alimentos SA
- Kerry Ingredients Inc.
- Burcon NutraScience
- Cargill Health & Food Technologies
- E. I. du Pont de Nemours and Company
- Kellogg Company
- Doves Farm Foods
- Kraft Foods Group Inc.
- Manildra Group
- MGP Ingredients
- Omega Protein Corporation
- George Weston Foods
These players are focusing on innovations and partnerships with smaller players to extend their businesses to places where they have no foothold
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Global Soy Protein Ingredient Market Segment Analysis
The global soy protein market can be segmented on the following basis:
- Soy Isolates
- Soy Concentrates
- Textured Soy Protein
- Bakery and Confectionery
- Meat Extenders and Substitutes
- Nutritional Supplements
- Animal Feed and Pet Food
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