Soy proteins are considered as the best alternative for animal proteins. It is mainly popular because of its excellent properties such as water and fat absorption capacity, texture development, and viscosity proteins. Soy protein ingredients find applications in various food segments since they offer essential amino acid profile that helps maintaining a good health. The worldwide market for soy protein ingredients is expected to witness considerable growth in the coming years, mainly due to the growing awareness about the benefits of soy proteins.
Overview of the market
The global soy protein ingredients market is projected to reach a value of USD 10.12 Billion by 2020, growing at a CAGR of 7.3% during the forecast period from 2015 to 2020.
Based on type, the soy protein isolates segment is estimated to be the fastest-growing market, reaching a size of USD 3.68 Billion by 2020. Soy protein isolates consists of about 90% of protein, making it the highest among all types of soy protein ingredients. Among application, the meat alternative and dairy replacement segments are expected to witness the highest growth of 7.6% and 7.8%, respectively over the forecast period.
Among regions, the market was dominated by North America in 2014, with the U.S. being the key producer. Following this was the European market, which is projected to grow at a CAGR of 6.6% during the forecast period.
Ask for Sample Pages @ http://www.marketsandmarkets.com/requestsample.asp?id=857
What is driving and restraining the market growth?
The growth of the global market for soy protein ingredients is being majorly driven by the following factors:
• Growing demand in processed food products
• Changing consumption patterns and food requirements
• Rising inclination towards vegetarian products for protein sources
• Cheaper source of high-quality proteins
• Growing awareness regarding the benefits of soy proteins
In addition, increased demand from emerging markets and ban on animal protein that has strengthened the demand for plant protein are expected to further create an array of growth opportunities for the market.
However, anti-nutritional components of soy proteins and off-flavor and availability of soy products with GM origin are expected to hinder the market growth to a certain extent. Moreover, grain demand-based fluctuations in cropping pattern and meat & dairy replacements are the key challenges being faced by the players involved in this market.
Key players and strategies adopted
The major players functioning in the worldwide market for soy protein ingredients are DuPont Nutrition & Health (U.S.), CHS Inc. (U.S.), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Wilmar International Ltd (Singapore), Kerry Group, plc (Ireland), and Ag Processing Inc. (U.S.). These players have been adopting various strategies such as active investments in infrastructural development, agreements & collaborations, and new product launches in order to expand their global presence as well as achieve continued growth in the global market.
