Global Soy Protein Ingredients Market - Growth, Trends, and Forecast (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||389161|
|出版日期||內容資訊||英文 154 Pages
|全球大豆蛋白質成分市場:成長，趨勢，及預測(2020年∼2025年) Global Soy Protein Ingredients Market - Growth, Trends, and Forecast (2020 - 2025)|
|出版日期: 2020年04月01日||內容資訊: 英文 154 Pages||
The global Soy Protein Ingredients market was valued at USD 4,881.6 million in 2018, and it is expected to reach USD 7,275.4 million by 2024, at an estimated CAGR of 6.88%, during the forecast period, 2019-2024. The global soy protein ingredients market is driven by a growing inclination toward vegan diets, the functional efficiency, the cost competitiveness offered by such plant protein products, and their increasing utilization in a wide variety of processed foods, especially in the ready-to-eat product category. Soy protein isolates and concentrates are the most eminent forms of soy protein and contain 90% and 70% protein content, respectively. The high functional property of soy protein and its natural health benefit are boosting its market growth. There is an increase in the adoption of soy protein across several end-user industries, owing to its high sustainability
Soy Protein Ingredients refer to as protein ingredients derived from soybean as a source. The products considered are manufactured by companies that have their procurement system and farms as a part of their agribusiness unit.
Increasing Awareness about Soy Protein Benefits
Health management has become a trend, and consumers are looking for food and beverage products that would help them treat or prevent specific conditions. The culinary habits of a majority of the population are changing, due to focus on weight management. Gen Z already makes up 23% of the US population and is a proactive participant in health and wellness. Soy protein isolates are 90% concentrated vegetable protein. These proteins are good for athletes and bodybuilders as well. These health benefits are also driving the market demand.
North America leading the Soy protein Ingredients Market
Presently, North America dominates the Soy Protein Ingredients Market. The soy protein ingredient market in the region is growing at a fast rate, owing to factors, such as changes in lifestyle, lack of balanced dietary intake, and increasing focus of global manufacturers on R&D to develop new kinds of soy-protein-enriched products. The United States continues to capture the largest market share for soy protein ingredients, followed by Canada, and Mexico. Nowadays, consumers in the region are switching to other alternative products, such as green label food products, due to increasing awareness for healthy and plant-based products as there is an increasing number of counterfeit products in the market. The key players in the region include Cargill Inc., DuPont Nutrition, Wilmar International Limited, and Ruchi Soya Industries.
The global soy protein ingredients market is consolidated and comprises of regional and international competitors. The most active companies in this market are Archer Daniels Midland, DuPont, The Scoular Company, Fuji Oil Asia Pte, Cargill, and DowDupont. The common strategies adopted by the companies are new product developments and merger and acquisition of small players, to get a foothold in the market. The soy protein ingredients market offers wide scope to the existing companies. There are government regulations for GMO soy, which influences the entry of players into the market.