Soy Protein industry will generate new Growth Opportunities by 2028| Detailed Research Report

 

Overview:

Market Research Future (MRFR) has announced a new release on the global soy protein market. The report delivers a thorough understanding of the global soy protein market’s probable growth trajectory over the forecast period from 2017 to 2023 and also provides a look into the historical growth trajectory exhibited by the market and the key drivers affecting the market’s movement.

Soy protein is protein extracted from soybeans. This protein works similarly to whey protein and can be used in all applications in which whey protein is used. Soy protein is extracted from dehulled and defatted soybeans and is used in products such as meat analogues, salad dressings, frozen desserts, and infant formula, among others.

The growing demand for protein products is likely to be the major driving factor for the global soy protein market over the forecast period. The growth of the health-conscious demographic has driven the demand for isolated protein products all over the world. As consumers in developed countries have started to become ever more aware of the importance of post-workout nutrition and the overall role played by proteins in building a stronger body, products such as protein bars and protein powders have come in vogue. The growing fitness movement in developed countries is likely to be a major driver for the global soy protein industry over the forecast period.

The increasing availability of soy protein bars is also likely to be a major driver for the global soy protein market over the forecast period. While most consumers may look at protein powder as a food for fitness freaks only, protein bars have become more popular among the general populace, as they can be consumed immediately and contain lower levels of carbs than regular snack bars. This is likely to be a major driver for the global soy protein market over the forecast period, as it gives the market players a chance to connect with new customers who aren’t fitness enthusiasts.

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Segmentation:

The global soy protein market is segmented on the basis of form, application, type, distribution channel, and region.

By type, the global soy protein market is segmented into soy protein isolates, soy protein concentrates, soy protein flours, and others. Soy protein isolates hold the major share in the global soy protein market and are expected to exhibit the fastest CAGR over the forecast period.

By form, the global soy protein market is segmented into powder, bars, ready to drink beverages, capsules/tablets, and others. The powder segment holds the dominant share in the global soy protein market and is likely to remain the leading revenue generator for the market over the forecast period.

By application, the global soy protein market is segmented into functional foods, sports nutrition, meat additives, confectionery and other food products, pharmaceuticals, and others. The sports nutrition segment is likely to retain the dominant share in the global soy protein market over the forecast period.

By distribution channel, the global soy protein market is segmented into supermarket/hypermarkets, convenience stores, ecommerce, and others. The supermarket/hypermarket segment holds the leading share in the global soy protein market and is likely to retain the lead over the forecast period.

Regional Analysis:

The global soy protein market is segmented into the Americas, Europe, Asia Pacific, and rest of the world.

The Americas segment is the dominant regional market for soy protein due to the growing demand for protein bars, powders, and shakes among the population in countries such as the U.S. and Canada. The increasing enthusiasm about exercise and fitness in these countries is likely to be a major driver for the soy protein market in this region over the forecast period, as the rising obesity in the U.S. has led to increasing awareness about exercising and staying fit in general. Rising demand for soy protein products as a functional food is also likely to be a major driver for the soy protein market in the region over the forecast period.

Asia Pacific holds the second largest share in the global soy protein market and is expected to exhibit the fastest growth over the forecast period.

Competitive Analysis:

Leading players in the global soy protein market include Archer Daniels Midland Company, Solae, Solbar, Gushen Biological Technology Group Co. Ltd., Cargill, DuPont, and Ingredion.

Industry Updates:

In January 2019, Impossible Foods replaced the wheat protein in its burgers with soy protein.

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