London, Nov. 21, 2019 (GLOBE NEWSWIRE) -- According to a new market research report, “Soy Protein Market by Type (Soy Protein Concentrates; Soy Protein Isolates; Textured Soy Protein; and Soy Flour, Grits, and Chunks), Application (Food and Beverages, Animal Feed, and others), and Geography - Global Forecast 2025”, published by, Meticulous Research®, in terms of value, the global soy protein market is expected to grow at a CAGR of 7.1% from 2019 to reach $7.3 billion by 2025. In terms of volume, this market is expected to grow at a CAGR of 5.5% from 2019 to 2025 to reach 5,026 thousand MT by 2025.
The market for high protein products is dynamic and growing. Consumer interest in health and fitness is driving much of this growth, and the increased awareness around protein and its benefits for lean muscle health and weight management is a key contributing factor. Soy protein has become one of the primary sources of vegetable protein which can play a significant role for human and livestock consumption from the nutritional point of view. Moreover, soy protein has been shown to support health needs across the lifespan as a source of lean, cholesterol-free, and lactose-free protein.
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The growth in the global soy protein market is majorly driven by the increasing awareness about the benefits of protein and growing demand for protein rich diet, growing health and wellness trend, increasing consumers’ focus on meat alternatives, growing demand from food and beverage industry, and advancement in ingredient technologies such as microencapsulation. In addition, increasing inclination of consumers towards vegan diet and emerging economies such as Southeast Asia, Latin America, and the Middle East & Africa provides significant opportunity for the manufacturers in the global soy protein market. However, significant preference for animal-based protein, fluctuating raw material prices, and consumer preference to soy free products hinders the growth of this market to some extent.
The global soy protein market study presents historical market data in terms of value and volume (2017 and 2018), estimated current data (2019), and forecasts for 2025-by type (soy protein concentrates, soy protein isolates, textured soy protein, and soy flour, grits, and chunks) and application (food and beverages, animal feed and pet food, and others). The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on type, soy protein concentrates segment is estimated to hold the largest share of the overall soy protein market in 2019. The large share of this segment is mainly attributed to its low cost than other types of soy protein and growing demand from meat and animal feed industry. In addition, soy protein concentrate is also widely used as functional or nutritional ingredient in a variety of food products, mainly in baked foods, breakfast cereals, and in some meat products, which is expected to boost the soy protein concentrates market significantly in the next few years. However, soy protein isolates market is estimated to witness the fastest growth during the forecast period. The fast growth of this segment is attributed to increasing demand from food and beverages and nutraceutical product manufacturers, owing to its nutritional and functional properties such as high protein content, neutral taste, and high viscous nature.
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Based on application, food and beverages application is estimated to hold the largest share of the overall soy protein market in 2019. The large share of this segment is mainly attributed to the increasing consumer preference for soy foods and ingredients; growing awareness and demand for protein rich food products; versatile functionality and compatibility of soy protein with vegetarian and vegan lifestyles; and rising clean label trend. Further, in food and beverages application segment, meat, poultry, and seafood application is estimated to command the largest share of the overall soy protein market for food and beverages in 2019. The large share of this segment is mainly attributed to increasing demand of soy protein from meat industry due to soy protein’s fat & water binding and texturing properties as well as increasing meat manufactures’ focus on the reduction of production cost. However, meat alternatives application is expected to witness the rapid growth during the forecast period, mainly due to increasing animal diseases, global shortage of animal protein, growing focus on environment sustainability, rising number of vegans across the globe, and growing investment by leading players in the meat alternative industry.
Geographically, North America is estimated to account for the largest share of the overall soy protein market in 2019, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The largest share of this region is mainly attributed to growing inclination of population towards vegan diet, increasing health consciousness, growing number of women working outside the home, rising health & wellness trend, and huge production of soybean in the region. However, Asia-Pacific region is expected to witness significant growth during the forecast period. The rapid growth in this region is mainly attributed to the large base of vegetarian people, growing urbanization and industrialization, rising awareness about the health benefits of soy protein, and growing disposable income.
The report includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2016-2019). The soy protein market has witnessed a number of new product launches, acquisition and mergers, and expansions in the recent years. The soy protein market is consolidated in nature with the leading players having a major contribution to the global pie. The key players operating in the global soy protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Kerry Group (Ireland), E.I. Dupont De Nemours and Company (U.S.), NOW Health Group, Inc. (U.S.), Burcon NutraScience Corporation (Canada), Sotexpro (France), Farbest Brands (U.S.), Wilmar International Ltd. (Singapore), and CHS Inc. (U.S.) among others.
Browse key industry insights spread across 143 pages with 99 market data tables & 35 figures & charts from the report: https://www.meticulousresearch.com/product/soy-protein-market-5053/
Scope of the Soy Protein Market Research Report:
Soy Protein Market, by Type
- Soy Protein Concentrates
- Soy Protein Isolates
- Textured Soy Protein
- Soy Flour, Grits, and Chunks
Soy Protein Market, by Application
- Food and Beverages
- Meat, Poultry, and Seafood
- Meat Alternative
- Bakery and Confectionary
- Infant Food
- Dairy and Dairy Replacements
- Others
- Animal Feed and Pet Food
- Others
Soy Protein Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Rest of World
- Latin America
- Middle East and Africa
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