The global soy protein concentrate market comprises players which are
implementing novel strategies for new product innovation as well as
trying to expand their product portfolio and application of rings
through mergers and acquisitions, states Transparency Market Research
(TMR)in it latest research report. The report also studies the
leading players within the global soy protein concentrate market such
as Archer Daniels Midland, Gremount International Company Limited,
Euroduna Food Ingredients, Nutra Food Ingredients LLC, Food Chem
International Corporation, Nordic Soy Oy, Wirmal International,
Batory Foods, Cargill Inc., and CHS Inc.
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According to Transparency Market Research, between 2017 and 2026, the
global soy concentrate market is poised to expand at a 4.6% CAGR. The
market is anticipated to be worth US$4,000 mn by 2026. By function,
nutrients are anticipated to lead and by 2026, the sales of nutrients
are anticipated to exceed US$2,200 mn. On the basis of form, dry soy
protein concentrate is expected to witness higher demand as compared
to liquid form of soy protein. However, the liquid soy protein
concentrate segment is anticipated to expand at a slightly higher
CAGR as compared to dry form of protein concentrate. By application,
the animal feed and meat processing segments are among the leading
segments and this trend is expected to continue to be so in the
years to come.
APEJ
Leading in Terms of Regional Demand for Soy Protein Concentrate
In terms of geography, Asia Pacific excluding Japan and Europe are
key markets for protein concentrate. North America is also
anticipated to witness a growth in the soy protein concentrate market
and expand at a healthy pace during the forecast period. However, the
fastest expansion in terms of regional growth within the soy protein
concentrate market will be witnessed by Asia Pacific excluding Japan.
Sluggish growth can be expected for the Middle East and Africa and
Latin America regions. These two regions are anticipated to
collectively account for just 10% of the total market share.
High
Cost of Meat to Drive Demand for Soy Protein Concentrate
As per the lead author of the report, “today there is a high demand
for low-cost source of soy protein such as plants which is
increasing, which in turn is a driving in the demand for food
products such as soy protein concentrate.” Soy
protein concentrate effectively Drive enhance nutrients which
are essential for the human body. Another factor which is helping the
soy protein concentrate market to progress and grow is the
technological advancements within the food industry, which in turn
has resulted in the development of where is soil products. The
shifting consumer demand for high protein and the realization of its
health benefits will also play a key role in driving the growth of
this market.
Growing
Number of Vegan Population Driving Growth Prospects of Soy Protein
Concentrate Market
The rising the vegan population, growing prices of meat, and
prohibition of animal sources for the manufacturing of processed food
products by several governments worldwide are some of the other
important factors aiding the growth of the global soy protein
concentrate Market. Manufacturers are increasingly emphasizing on the
texture, appearance, and taste of products while ensuring the disease
nutrition rich. This in turn will further accelerate the demand for
soy protein concentrate. Soy protein concentrate is not only
nutritious but also economical. Manufacturers are also focusing on
creating products which are GMO free, this in turn is anticipated to
create a higher demand for soy protein concentrate.
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