The Soy Protein Concentrate Market is projected to grow from USD XX billion in 2021 to USD XX billion in 2030 at a CAGR of XX%. Soy proteins are widely used as a nutritional supplement in various baked foods, breakfast cereals, and meat products. They are also used to improve nutritional values. Owing to its lucid digestible characteristics, the soy protein concentrate is particularly used for children, pregnant and the elderly.
Growing demand for low-cost and natural food manufacturing sources to improvise products and deliver improved nutrients that are vital to the human body and technological development in food industries should drive the soy protein concentrate market demand for soy protein concentrate. The change in customer preference for the consumption of high nutrient products should boost the development of the sector. The increase in consumer health awareness accompanied by producers of animal feeds who are gaining awareness of supplying the animals with dietary feeds may increase the development of the soy protein concentrate market. In animals, feed nutrients are used to supply energy and boost efficiency.
Soy Protein Concentrate Market
Latest Trends
Soy protein concentrate market demand for animal feed and meat processing applications is expected to foresee significant growth over the forecast timeframe owing to increasing animal feed industries and health awareness among consumers. Soy protein concentrate is diversely used in various animal feeds to improve nutritional content. In the fisheries sector, soy protein concentrate is increasingly used as a substitute for fishmeal. Many fish feed manufacturers are now utilizing SPC owing to product advantages, driving the soy protein concentrate market.
Driving Factors
A Viable Alternative for Meat and Dairy Proteins
Soy proteins are a viable alternative to meat and dairy proteins and with their low cost and high nutrition content, which is expected to drive the market growth. Global animal feed market growth is expected to touch 4% over the forecast timeline, which will augment soy protein concentrate demand as well.
Restraining Factors
Ban on Genetically Modified Soybeans
The unsavory taste of soy protein isolate and possible allergies contracted due to soy products isolate might make it revolting for consumption. This off-flavor is caused by the presence of compounds such as alcohols, ketones, aldehydes, and furans. A ban prevailing on genetically modified crops (GM) has put market growth for genetically modified soybean in a negative light that restraint growth in almost all regions.
Segmentation Analysis
By Form
Dry Protein Concentrate to Observe Significant Growth
Based on form, the soy protein concentrate market is segmented into dry and liquid. The dry soy protein concentrate market is expected to witness significant growth over the forecast period owing to a shift in consumer preference towards long shelf-life concentrated products.
Liquid soy protein concentrate is also expected to grow owing to its freshness and various advantages as they are healthy for bone, skin, and muscle tissues.
By Function
Fat and Water Absorption to Observe High Growth
Based on function, the soy protein concentrate market is classified into nutrients, emulsifier, fat and water absorption, and others. The fat and water absorption segment is projected to observe the fastest growth during the forecast period owing to the increasing number of health-conscious customers globally.
By Application
Animal Feed Segment to Hold Largest Market Share
Based on application, the soy protein concentrate market is divided into animal feed, meat processing, bakery and confectionary and others. The animal feed segment is expected to hold the largest market share during the forecast period. Although a majority of the demand for soy protein is directed towards catering human protein needs, the growing demand from animal feed industry is expected to drive the market growth. Aquaculture producers are expected to heavily invest in the soy protein concentrate market as the dependence of naturally available fish meal decreases. Live stock farmers have observed the health benefits of soy proteins in animals, which is expected to augment the market growth during the forecast period.
By Region
North America to Hold Significant Market Share
Based on region, the soy protein concentrate market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America, spearheaded by Canada and the U.S. is expected to observe significant growth owing to increasing consumer preference towards healthy intake of food and improving living standards. A rising growth in animal feed industry on account of extensive meat products demand from cattle, poultry, and swine has taken soy protein concentrate to unparalleled heights.
Asia-Pacific led by Japan, India, South Korea, Australia and China is expected to observe an uptrend over forecast timeframe due to rising population along with consumer preference for healthy diet consumption. Rising food and beverage and dietary supplements demand is estimated to accelerate regional market growth.
Europe is expected to witness a considerable growth owing to increasing consumption of bakery and confectionary products in the region. The regional soy protein concentrate market is driven by France, Italy, the U.K., Spain and Germany.
Soy Protein Concentrate Market
Key Industry Leaders
The soy protein concentrate market share is competitive and fairly consolidated. Key players operating in the industry coupled with significant M&A are an integral part of the market, which allow companies to expand their regional presence and product portfolio.
List of Companies Profiled
- Cargill
- Wilmer International
- Batory Foods
- Nordic Soy
- Nutra Food Ingredients
- Euroduna Food Ingredients
- Akola Chemicals
Key Factors Impacting the Growth of Soy Protein Concentrate Market:
- Growing demand for low-cost and natural food manufacturing sources
- Technological development in food industries
- Increase in consumer health awareness
- Gaining awareness of supplying the animals with dietary feeds
Key Developments in the Soy Protein Concentrate Market:
- In June 2016, Sojaprotein (Serbia) expanded its presence in Asia and Africa. Regular shipments are now going to Egypt, Tunisia, Jordan, Morocco, the Philippines, South Korea, Indonesia, Vietnam and other nations in Asia and Africa.
- In June 2018, Wilmar International (Singapore) and the National University of Singapore set up a new joint research laboratory for developing cutting-edge clinical nutrition and synthetic biology study to produce healthier food products and develop green production technologies.
- In August 2019, Smithfield Foods launched a new soy-based product under its pure farmland brand, which includes burgers, meatballs, and breakfast patties.
What Does This Report Provide?
This report provides a detailed understanding of the global soy protein concentrate market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the soy protein concentrate market.
Years Considered In The Study
Market Segmentation:
By Form:
- Dry
- Liquid
By Function:
- Nutrients
- Emulsifier
- Fat & Water Absorption
- Others
By Application:
- Animal Feed
- Meat Processing
- Bakery & Confectionery
- Others
By Region:
- North America
- By Country (US, Canada, Mexico)
- By Form
- By Function
- By Application
- Western Europe:
- By Country (Germany, UK, France, Spain, Rest of Western Europe)
- By Form
- By Function
- By Application
- Eastern Europe:
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Form
- By Function
- By Application
- Asia Pacific
- By Country (China, Japan, India, Rest of Asia Pacific)
- By Form
- By Function
- By Application
- Middle East:
- By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
- By Form
- By Function
- By Application
- Rest of the World
- By Region (South America, Africa)
- By Form
- By Function
- By Application
FAQs Answered in the Report
- In the soy protein concentrate industry, what are the most important regional markets?
- What is the market segmentation based on type?
- What is the market segmentation based on end-user?
- What are the different phases of the soy protein concentrate market’s value chain?
- What are the major drivers and threats in the soy protein concentrate market?
- Who are the main players in the market and what is their structure?
- What level of rivalry does the soy protein concentrate market have?
- What are the profit margins in the market?
Reasons to Buy This Report:
- Market size estimation of the global soy protein concentrate market on a regional and global basis.
- The unique research design for market size estimation and forecast.
- Profiling of major companies operating in the soy protein concentrate market with key developments.
- Broad scope to cover all the possible segments helping every stakeholder in the soy protein concentrates market.
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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