Europe Soy Protein Ingredients Market - Growth, Trends and Forecasts (2017 - 2022)
By 2020 the Global Soy Protein ingredients market is estimated to grow to USD 10.19 Billion with a CAGR OF 7.4%.. The European soy protein market is estimated to grow at a CAGR of 5.8 % from 2015 to 2020. In 2014, the global soy protein ingredients market was led by North America, U.S being the largest market, Europe was the second-largest region-wise market, in terms of value and volume. Soy protein is derived from Soy meal, it contains all essential amino acids and has many health benefits; making it a popular choice amongst consumers.
Soy has excellent functional properties which allow for specific applications which includeadhesives,asphalts,resins, cleaning materials,cosmetics,inks,pleather,paints, paper coatings,pesticides/fungicides,plastics,polyesters, andtextilefibres. Soy protein products are mainly present in three forms in the market i.e Soy concentrate, Soy isolate and Soy flour.
A trend of being â€˜flexitarianâ€, observations of â€œvegetarian dayâ€ is becoming popular in Europe. Benefits of plant based diet are being acknowledged. Flexitarians are non-vegetarians who restrict their meat intake to minimal or occasional rather than completely cutting it out; they thus have a greater tendency to desire meat substitutes, soy protein forms an excellent substitute. The market is also driven by demand from sports and nutrition and weight management industry. Europe has high incidence of obesity and presents a great opportunity in application of soy protein in weight management industry due to proteins inherent property of creating satiety amongst its users. The European market has readily accepted Soy protein as an important constituent ingredient in food, however consumers are wary about consumption of genetically modified crops and its products. Thus GM crops and ingredients possess a challenge to the soy ingredient market in Europe.
This market can be broadly segmented by type into Soy concentrate, Soy isolate, Soy flour. These find various application Bakery and confectionery, Meat alternatives, Functional foods, Dairy Replacement, Infant foods.
In Europe, France is the largest market for Soy protein followed by Spain while UK is anticipated to have highest CAGR for the forecast period 2015-2020. Many new products are being launched in the European market that contain Soy protein in it, such as yoghurts, desserts, bars, juices, clear beverages, shakes, burgers, patties etc. Increasing health claims and applications due to functional properties is making soy protein increasingly popular in the market. The major companies dominating the European market are ADM (Archer Daniels Midland Company), Cargill, DuPont, CHS Inc. (U.S.). , Kerry. The current trends indicate partnering, mergers and acquisitions to capture the market.
Key Deliverables in the Study
1. Market analysis for the European Soy Protein Ingredient Market, with country specific assessments and competition analysis.
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the European Soy protein Ingredient market
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped