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Meticulous Research® – leading global market research company published a research report titled “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 to 2025”
According to this latest publication from Meticulous Research®, in terms of value, the global soy protein market is expected to grow at a CAGR of 7.1% from 2019 to 2025 to reach $7.3 billion by 2025; whereas, 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 global soy protein market is majorly driven by 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, 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.
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 analyses the market at the country level.
Browse in-depth Report on: https://www.meticulousresearch.com/product/soy-protein-market-5053
Based on type, the overall soy protein market is segmented into soy protein concentrates; soy protein isolates; textured soy protein; and soy flour, grits, and chunks. Soy protein concentrates market is estimated to hold the largest share of the overall soy protein market in 2019. However, soy protein isolate 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.
Based on application, the global soy protein market is segmented into food and beverages, animal feed and pet food, and others. 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.
The food and beverages application segment is further divided into meat, poultry, and seafood; meat alternative; bakery and confectionary; infant food; dairy and dairy replacements; and others. 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 its fat & water binding and texturing properties as well as increasing focus of meat manufacturers on the reduction of production cost.
This research report also analyzes major geographies and provides a comprehensive analysis of North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is estimated to account for the largest share of the overall soy protein market in 2019. The largest share of this region is mainly attributed to growing inclination of consumers towards vegan diet, increasing health consciousness, rising number of women working outside the home, rising health & wellness trend, and huge production of soybean in the region. Additionally, as consumers across North America pay more attention to the label claims on the food and beverage products they purchase, protein is one of the claims which have gained momentum among consumers in recent years, ultimately fueling the demand of soy protein from the North American food and beverage product manufacturers.
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.
Key questions answered in the report-
- Which are the high growth market segments in terms of type, application, and countries?
- What is the historical market for soy protein across the globe?
- What are the market forecasts and estimates from the period 2019-2025?
- What are the major drivers, restraints, and opportunities in the global soy protein market?
- Who are the major players in the global soy protein market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global soy protein market?
- What are the different strategies adopted by the major players in the global soy protein market?
- What are the geographic trends and high growth countries?
- Who are the local emerging players in the global soy protein market and how do they compete with the other players?
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