Soy Protein Market Valuation Will Hit USD 10 Billion By
New York, U.S., June 23, 2022 (GLOBE NEWSWIRE) — Soy Protein Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “soy protein market Information by Category, Form, Application and Region – Forecast to 2030the market is expected to acquire a size of over $10 billion by the end of 2030. The report further forecasts that the market will flourish at a healthy CAGR of over 7.1% during the period of exam.
Soy protein is soy protein that has been isolated. It is made from shelled and defatted soybeans. Soy flour, concentrates, and disconnects are three types of protein-rich foods made from dehulled and defatted soybeans. Most soy protein is used in a variety of foods, including meat substitutes, infant formula, frozen desserts, salad dressings and others.
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|Market size 2030||$10 billion|
|Year of reference||2021|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||By type, form, application, distribution channel and region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Market Drivers||Request for protein products|
|increased availability of soy protein bars|
Leading players profiled in Soy Protein market are
- Archer-Daniels-Midland Co. (USA)
- Ingredion (USA)
- Solae (USA)
- Dupont (USA)
- Solbar (Israel)
- Cargill (United States)
- Gushen Biological Technology Group Co., Ltd (China)
The global soy protein market is driven by the growing trend of high protein diets for health and wellness. Consumers are increasingly turning away from animal-based foods and beverages in favor of plant-based proteins, which is helping the sector. The increase in the number of people adopting a vegan diet is also helping to propel the sector forward. Veganism is still a somewhat niche hobby, but the market for vegan products and drinks is on the rise, with younger consumers driving the trend. Vegan alternatives to regular items are being introduced by major food manufacturers and retailers. The resulting increase in vegetable protein substitutes contributed to the growth of the soy protein business. Vegans and dairy-sensitive people are increasingly turning to soy protein to replace dairy protein. It is also used as a high quality meat alternative which is also cost effective.
Soy protein isolates represent the majority of the market and are mainly used to improve the texture of food products. They are often combined with other food additives. The availability of soy protein in various forms and packaging has changed the dynamics of the soy protein market in recent years. Advances in nutrition science and exercise physiology, along with an increased focus on lean protein sources and nutrient-dense foods, are some of the major reasons driving the demand for protein. soy and soy foods and are likely to contribute to the market revenue growth over the forecast period. . Soy protein is the only complete protein found in vegetables and is largely in line with current nutritionist recommendations.
New foods are being developed by huge corporations to meet the growing demand for soy products around the world, driven by a growth in soy protein research in a range of health areas. Soy protein will likely become more prevalent in foods and beverages as a result of this, and the trend is expected to continue.
Browse the in-depth market research report (110 pages) on soy protein: https://www.marketresearchfuture.com/reports/soy-protein-market-3209
Soy products are expected to grow in popularity throughout the forecast period, although concerns about food allergies, sensitivity to soy products in some people, and lack of information on daily nutritional requirements are expected to hamper market expansion.
The COVID-19 outbreak has had a significant impact on the traditional meat processing business. Due to supply difficulties, a number of slaughterhouses have closed. The COVID-19 outbreak has had a substantial impact on the meat supply chain in the United States, with several large meat facilities temporarily closing or operating at reduced capacity to protect workers. Major meat processing companies, such as Tyson and Smithfield, for example, have closed their factories due to the COVID-19 pandemic. Consumer demand for soy protein products has surged due to tight meat supply. Moreover, the COVID-19 pandemic has highlighted the need for a balanced diet, which has led to an increase in the demand for plant-based foods. As a result, the COVID-19 pandemic has given huge opportunities for the soy protein industry to thrive.
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Soy protein isolates have a substantial market share as they are widely used in food. This is due to the increasing use of soy protein isolates in vegetarian and vegan diets, as well as the availability of cost-effective soy protein isolates.
Soy protein in powder form holds the largest market share.
During the projected period, the use of soy protein in sports nutrition is expected to grow at a faster rate.
By distribution channel
Supermarkets/Hypermarkets account for the major market share, while the e-commerce segment is expected to witness a higher growth rate during the forecast period.
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The increase in soybean production in South America is a crucial factor in American supremacy in the world market in the Americas region. Brazil, the United States, Argentina and Canada are the main exporters of soy protein. The largest proportion of the soy protein market is estimated to be in North America. The large market share of this region can be attributed to various factors, including the well-established food and beverage industry, growing public awareness about the health benefits of soy protein, rise in veganism and preference for plant-based diets as well as an increase in demand for high-quality, nutrient-dense foods.
The soybean market in Europe is driven by the growing demand for soy protein for various applications, primarily as a functional food.
The Asia-Pacific region will grow faster than the rest of the world, due to the growing demand for high-quality soy protein, especially from developing countries like China and India. The huge vegetarian population, increased awareness of the need to eat high-protein diets, technical improvements in the food processing industry, and abundant availability of raw materials are all contributing to the strong growth of the Asia- Peaceful.
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