Soy Protein Ingredients Market By Type (Soy Protein Isolates, Soy Protein Concentrates, Soy Flour), By Application (Bakery And Confectionary, Processed Meat Products, Functional Foods, Dairy Replacers, Infant Foods) - Growth, Future Prospects And Competitive Analysis, 2016 - 2023

The transformation of raw materials into healthy food products is the result of efficient food processing, preparation, distribution, and consumption. With increasing consumer concerns regarding healthy and green food products, demand for plant products is anticipated to remain significant in the near future. Technological advancements in food have led to the development of varied soy products, including isolates, concentrates, and other edible soy products.

This has further led to increased consumption of soy-based products among consumers across the globe. Soy protein products are used as functional and nutritional food ingredients across various food products. Owing to the demand for low-cost sources of protein from plants, the food product formulators are focused on developing products that offer enhanced nutrients required by the human body.

Some of the factors driving the demand for soy protein ingredients include changing consumer food patterns, the inclination of consumers towards vegetarian food, rising meat prices, bans on the usage of animal sources by governments of various countries, the increasing availability of ready-to-eat food products, and the increasing concerns of consumers towards healthy and nutritious food products. However, taste preferences for soy-based products restrict their adoption among a few consumers and, thus, might hinder the soy protein ingredients market's growth rate in the near future.

Globally, the soy protein ingredients market in North America is expected to be the largest in terms of value, followed by Europe and Asia Pacific. Increasing government support and subsidies related to improved agricultural practices and crop yield methods Asia Pacific is also expected to have the fastest CAGR during the forecast period, owing to the expanding food and beverage industries in China and India, which are driving increased demand for soy protein ingredients, as well as consumer awareness of the benefits of soy protein ingredients, such as low fat and sugar content, environmental friendliness when compared to animal protein ingredients, and high nutritional content.The global soy protein ingredients market is expected to be worth US$ 8.0 billion by the end of 2016 and to grow at a CAGR of 6.3% from 2016 to 2023.

Purpose of the Report

The purpose of this strategic research study titled "Global Soy Protein Ingredients Market: Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global soy protein ingredients market.

Target Audience

  • Industry Investors
  • Research Professionals
  • Emerging Companies
  • manufacturers of soy protein ingredients
  • Oil and gas exploration and production companies
  • Downstream and midstream companies
  • Research Institutes

The global soy protein ingredients market can be categorized on the basis of type as follows:

  • Soy Protein Isolates
  • Soy protein concentrates
  • Soy Flour

Increasing demand for cost-effective vegetable proteins has led to the adoption of soy protein ingredients across different food formulations. Soy protein ingredients are categorized broadly into soy protein concentrates, soy protein isolates, and soy flour. Among these types, the soy protein isolates segment accounted for the highest market share and is expected to remain dominant throughout the forecast period.

Extensive research and development by companies operating in the protein ingredients market in order to offer better and enhanced ingredients in comparison to available animal protein products are anticipated to fuel the soy protein isolate market's growth. Furthermore, health benefits such as viscosity proteins, fat absorption, and texture development are some of the factors leading to increased consumption of soy-based products, thereby increasing the application of soy protein ingredients in food and beverage products.

Also, there has been continuous research and development toward the development of advanced products leading to the application of soy protein ingredients in other food and beverage products. The soy protein concentrates segment is anticipated to record significant growth in the forthcoming years, which is due to increased product launches comprising soy protein concentrates as compared to isolates among food and beverage product manufacturers.

On the basis of application, the soy protein ingredients market is categorized into the following types:

  • bakery and confectionery
  • Processed meat products
  • Functional Foods
  • Dairy Replacers
  • Infant Foods
  • Others

Of the different applications, the bakery and confectionery segment holds the largest market share and is expected to maintain its dominance throughout the forecast period. Consumer demand for high-quality, protein-rich bakery and confectionery food products, combined with rising bakery and confectionery food product consumption, drives the demand for soy protein ingredients in these products. Furthermore, increasing demand for healthy and plant-based products, especially from countries such as India, China, and Brazil, where shifting consumer preferences for food products play a pivotal role in the adoption of better and more efficient ingredient sources such as soy protein ingredients among manufacturers, thus mitigating the demand for nutritional food ingredients among consumers globally.

The functional foods segment is expected to record the highest growth, which is attributed to the increasing consumption of these products, which leads to the development of ingredients that suit the end-use consumer requirements, thereby fueling soy protein ingredients market growth across the globe. In addition, a ban on animal protein as an ingredient in food products coupled with new product development with customization stimulates the soy protein ingredients market's growth.

For the purpose of this study, the global soy protein ingredients market is categorized into three segments:

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

In 2015, North America was the leading market, followed by Europe. Both these regions together accounted for more than 70% of the market in terms of value. However, growth is projected to be fastest in the Asia Pacific region during the forecast period of 2016–2023. Growth in this region is attributed to various factors, including rising demand for "green label" food products coupled with increasing awareness related to healthy and plant-based products, especially in countries such as China and India. This is expected to fuel the growth of the soy protein ingredients market by encouraging the adoption of clean-label products.

Moreover, functional food acceptance among consumers in the Asia Pacific is increasing, which is further anticipated to fuel the demand for soy protein ingredients among food product manufacturers, thereby resulting in significant market growth. The market for soy protein ingredients in North America is anticipated to record significant growth, followed by Europe and Latin America. The market for soy protein ingredients in the Middle East and Africa is projected to grow at a moderate rate during the forecast period.

Frequently Asked Questions:

The market for Soy Protein Ingredients Market is expected to reach US$ 12.2 Bn By 2023.

The Soy Protein Ingredients Market is expected to see significant CAGR growth over the coming years, at 6.3%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

CHS Inc., Kerry Group PLC, Nisshin Oillio Group, Ltd., AG Processing Inc., Devansoy Inc. are some of the major players in the global market.

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Published Date:  Dec 2016
Category:  Food & Beverage
Report ID:   58288
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
Delivery Time: 24 Hours to 48 Hours   
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