The soy protein ingredients market was valued at $9,594.0 million in 2020, and is projected to reach at $15,303.9 million by 2030, registering a CAGR of 4.4% from 2021 to 2030.
Soy Protein Ingredients Market By Type (Soy Protein Isolate, Soy Protein Concentrate and Soy Flours) By Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacers, Infant Foods and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
The soy protein concentrate segment accounted for more than 50% of the total market share in 2020. Soy proteins are derived from soybean meal, which is defatted and dehulled. Defatted & dehulled soybeans are processed into three types of high-protein commercial products, including soy protein concentrates, soy protein isolates, and soy flours.
The infant foods segment offers maximum market potential in the soy protein ingredients market, owing to increase in demand for soy protein ingredients across infant foods and readymade and packaged food products. Moreover, rise in demand for efficient and cost effective meat alternatives across infants is another key aspect fueling the demand for soy protein ingredients across the globe. The use of soy protein ingredients in infant foods has witnessed major developments, due to constant growth in per capita disposable income and rise in demand for soy protein ingredients.
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Various end-use industries have initiated the use of isolate form of soy protein ingredients for improved results, owing to composition of higher protein content and lower carbohydrates. Increase in demand for these ingredients among infant food companies poses lucrative opportunities for the players in the global soy protein ingredients market.
Covid-19 Impact Analysis
Soy protein ingredients industry was negatively impacted by the pandemic owing to the government restrictions and regulations to stay home which restricted the authorities to check the soy protein ingredients more efficiently like before.
the ability of some testing laboratories was conceded due to the pandemic, with the constraint to follow social distancing and the reduced availability of material and staff
This increase in sales is expect do to continue in the post COVID scenario due to the persistent consumer inclination towards health and wellbeing caused by the pandemic.
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Segment review
The global soy protein ingredients market is segmented into type, application, and region. Depending on type, it is classified into soy protein isolates, soy protein concentrates, and soy flours. The soy protein concentrate segment dominated the global market in 2020, and is anticipated to maintain its dominance throughout the forecast period. On the basis of application, the market is segregated into bakeries & confectioneries, meat alternatives, functional foods, dairy replacers, infant foods, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for more than 35% share of the total revenue in 2020, followed by Europe and Asia-Pacific.
Major Players:
The key players operating in the soy protein ingredients market include AG Processing Inc., Archer-Daniels-Midland Company, Cargill, Inc., CHS Inc., Doves Farm Foods Ltd., E. I. Du Pont De Nemours and Company (Dupont Nutrition and Health), Kerry Group, Plc., Kraft Heinz Company, the Kellogg Company, and Wilmar International Limited.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging Soy protein ingredients market trends and opportunities.
The report provides detailed qualitative and quantitative analysis of the currenttrends and future estimations that help evaluate the prevailing soy protein ingredients market opportunities in the market.
The soy protein ingredients market fore cast is offered along with information related to key drivers, restraints, and opportunities.
Themarket analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
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Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for more than 35% share of the total revenue in 2020, followed by Europe and Asia-Pacific.
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