Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, and Soy Flours), Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, Infant Foods, and Feed), and Region - Forecast to 2022
“The soy protein ingredients market is projected to grow at a CAGR of 7.2%.”
The soy protein ingredients market is estimated at USD 9.07 billion in 2017 and is projected to reach USD 12.84 billion by 2022 at a CAGR of 7.2% from 2017. The market is driven by factors such as soy being a cheaper source of protein, a preferred alternative to meat & dairy proteins, and the high nutritive value of soy. Presence of anti-nutritional components in soy and the prohibition of GM-based soy products are the major factors restraining growth of the soy protein ingredients market.
“The food segment led the soy protein ingredients market, by application, in 2016.”
With the advent of technological advancements such as enzymatic systems, soy ingredients are produced with a neutral taste. This has helped with the acceptance of soy protein ingredients in the food & beverage industry. With supportive health claims from the JHCI (Joint Health Claim Initiative), soy proteins are being developed as an essential ingredient in functional foods and nutraceuticals. Soybean and processed products are the most important ingredients in the food & beverage industry, and their functionality is still being studied. They have a major share in the meat alternatives and functional food segments, thereby driving the overall market for soy protein ingredients.
“North America to dominate the soy protein ingredients market through 2022.”
The market for soy protein ingredients in the North America region was the largest in 2016, wherein the U.S. was the largest country-wise market. The soy protein ingredients market in North America is expected to witness considerable growth during the forecast period. This is due to the increasing awareness of the health benefits associated with soybean, among health-conscious consumers. Soy protein ingredients are an affordable alternative to meat and dairy products and are gradually replacing these products. Other applications of soy protein ingredients are weight management, muscle health, infant formulas, and personal care products. These trends have led to substantial growth of the market.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is mentioned as follows:
By Company Type: Tier 1 – 60%, Tier 2 – 25%, and Tier 3 – 15%
By Designation: Director Level – 35%, C Level – 40%, and Manager Level – 25%
By Region: Asia-Pacific – 40%, Europe – 30%, North America – 20%, and RoW – 10%
Key players are as follows:
The global soy protein ingredients market is dominated by key players such as Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Cargill (U.S.), CHS Inc. (U.S.), Kerry Group plc (Ireland).
Soy protein ingredients, on the basis of type, are segmented into soy protein concentrates, soy protein isolates, soy flours, and others (textured soy protein, soy grits, and hydrolyzed soy proteins). The applications of soy protein ingredients studied are food and feed. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons to buy this report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape—emerging and high-growth segments of the global soy protein ingredients market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following:
• Market Penetration: Comprehensive information on soy protein ingredients offered by top players in the global market
• Product Development/Innovation: Detailed insights on upcoming equipment products, technologies, research & development activities, and new product launches in the soy protein ingredients market
• Market Development: Comprehensive information about lucrative emerging markets.
• Market Diversification: In-depth information about new products, untapped regions, recent developments, and investments in the global soy protein ingredients market.
• Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global soy protein ingredients market