Selbyville, Delaware, Oct. 27, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Soy Protein Ingredients Market is projected to exceed a valuation of USD 12.5 billion by 2030.
The notable rise in demand for nutritional health supplements and functional foods with high protein content is a leading factor stimulating the industry expansion between 2022 and 2030. The emergence of several health calamities, such as the COVID-19 pandemic, has accelerated the shift toward healthy foods and drinks. As a result, the demand for food products with enhanced nutritional composition and added health benefits, such as increased immunity and reduced fatigue, has gained momentum.
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This has created a positive outlook for the soy protein ingredients industry. For instance, global fortified/functional food sales reached USD 267 billion in 2020, while naturally healthy foods recorded revenues worth USD 259 billion in 2020. The surge in the production of fortified food products will propel the demand for protein ingredients, thereby increasing the soy protein ingredients market share over the coming 8 years.
Rapid proliferation of the baking industry to boost the consumption of soy flour
Concerning the product paradigm, the soy flour segment accounted for over USD 85.5 million in 2021 and is anticipated to hold a noticeable revenue share by 2030. Soy flour is a rich source of isoflavones, vitamins, minerals, and lecithin, the nutrients having proven benefits in helping prevent cancer, loss of bone mass, and lowering cholesterol. The extensive use of soy flour in several bakery products to improve their nutritional value and texture through lipid oxidation will accelerate business growth through 2030.
Technological advancements to foster the adoption of GMO soy protein ingredients
Soy protein ingredients market from GMO segment is poised to expand at around a 10% CAGR between 2022 and 2030. The increasing advancements in gene modification technology focused on improving crop yields and the nutritional profile of soybeans will aid the segment growth over the next 8 years. Several regulatory authorities, such as the American Soybean Association, have been working in favor of introducing new genetically modified varieties of soybeans, which is slated to create positive growth prospects for GMO soy protein ingredients.
Browse key industry insights spread across 200 pages with 302 market data tables and 24 figures & charts from the report “Soy Protein Ingredients Market Size By Product (Soy Isolate, Soy Concentrate, Soy Flour), Nature (GMO, Non-GMO), Application (Bakery & Confectionery, Meat Extenders & Alternatives, Functional Food, Infant Food, Dairy Replacer, Animal Feed [Poultry, Swine, Cattle, Aquaculture, Pet Food]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/soy-protein-ingredients-market
Rising health concerns to drive product demand in functional food applications
With regard to the application spectrum, the functional food segment size exceeded USD 1 billion in 2021 and is predicted to witness around 7% CAGR between 2022 and 2030. Unhealthy eating habits and hectic lifestyles have resulted in the increasing burden of chronic diseases. This has encouraged consumers to shift toward more nutritional food products and lead a healthy lifestyle, driving the sales of functional foods. The expanding health-conscious population and the increasing expenditure on healthy foods and drinks will aid the segment's growth.
Positive outlook of the animal feed industry to streamline industry expansion across the Asia Pacific
Asia Pacific soy protein ingredients market is speculated to record a valuation of over USD 3.5 billion by 2030. The Asia Pacific has a robust animal husbandry sector, which has escalated demand for high-quality animal feed, driving business growth through 2030. In addition, the emerging health and fitness trends, coupled with the increasing demand for plant-based protein alternatives, will positively influence the regional landscape.
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Footprint expansion to define the strategic landscape
Prominent enterprises in the soy protein ingredients market include DuPont de Nemours, Inc., Cargill, Incorporated., ADM, Wilmar International, CHS Inc., US Nisshin Shokai, Now Foods, Sotexpro, International Flavors & Fragrances, Inc., Wilmar International, and others.
These firms have been focusing on expanding their global footprint to increase their brand visibility and gain a broad consumer base. For instance, in September 2022, ADM, a premier in animal and human nutrition, announced the opening of a new extrusion facility in Serbia with a view to expanding its non-GMO solutions, including extrusion and origination capabilities in the European Market. The company will implement this move in collaboration with SojaProtein, which it acquired in November 2021.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
