The soy protein concentrate market is expected to witness steady growth during the forecast period of 2019-2029. The growing use of these concentrates among a considerable chunk of the global populace owing to the overwhelming benefits will serve as growth boosters for the global market.
The influence of the social media platforms is encouraging many people to adopt high-protein diets such as the Paleo diet. As soy protein concentrate is high in protein, the demand is bound to increase. In addition, the number of individuals adopting veganism has increased exponentially. All these factors bode well for the growth of the soy protein concentrate market.
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Individuals around the world are adopting a healthier lifestyle at a rapid pace. The awareness about the benefits of a healthy body is expanding extensively. Protein-rich foods are one of the prominent components used in numerous diets. Thus, this aspect helps in achieving ideal calorie consumption levels, eventually increasing the growth rate of the soy protein concentrate market.
Soy protein concentrates are available in both liquid and dry form. The use of soy protein concentrates as fat and water absorbers, emulsifiers, nutrients, texturants, and others will prove to be a profitable growth factor for the global market. These concentrates are significantly used in bakery and confectionary, animal feed, meat processing, and others, ultimately contributing to the growth of the soy protein concentrate market.
The players in the soy protein concentrate market invest in research and development activities for finding insights on the overall use of soy protein concentrates in other applications. These activities also help the players explore novel techniques that have the ability to propel the demand for soy protein concentrate. Furthermore, strategic collaborations are also a vital part of the soy protein concentrate market growth trajectory. These activities strengthen the position of the players in the soy protein concentrate market, eventually influencing the growth prospects to a considerable extent.
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Transparency Market Research’s (TMR’s) report on the soy protein concentrate market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on soy protein concentrate by TMR suggests a stable growth period.
According to the TMR experts, the market for soy protein concentrate is prognosticated to expand at 5% CAGR during the forecast period of 2019-2029. In the context of valuation, the soy protein concentrate market is estimated to reach a valuation of US$ 3.7 Bn by 2029. It stood at US$ 2 Bn in 2018.
Growing Consumer Awareness about Preventative Healthcare to Bring Immense Growth Opportunities
A large chunk of the global populace is conscious about maintaining fitness levels and also aware about the advantages of preventative healthcare. Many online forums and websites provide information on various diets that can help in preventing diverse diseases and disorders. Protein soy concentrates form an important element of all these diets. Hence, these factors will serve as significant growth contributors for the soy protein concentrate market.
Some well-established players in the soy protein concentrate market are Food Chem International Corporation, Euroduna Food Ingredients, Wirmal International, Nutra Food Ingredients LLC, Batory Foods, Cargill Inc.m Nordic Soy Oy, and CHS Inc.
Global Soy Protein Concentrate Market: Segmentation
Soy Protein Concentrate Market by Grade
- Food
- Feed
Soy Protein Concentrate Market by Form
- Dry
- Liquid
Soy Protein Concentrate Market by Application
- Animal Feed
- Meat Processing
- Bakery Confectionary
- Others
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Asia Pacific Excluding Japan (APEJ) to Serve as Largest Regional Growth Contributor
In terms of regional landscape, Asia Pacific excluding Japan (APEJ) will observe a dominating stance across the forecast period. The rising demand for clean-label food products in the region, especially in densely populated countries like India and China will bring substantial growth opportunities. Taking all the factors into consideration, the sales of soy protein concentrate within the region is extrapolated to reach US$ 1 Bn by 2029.
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