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Soy protein ingredients are processed food ingredients produced from wholly defatted soy meal through a water extraction process. The resulting concentrate and isolate contain 65 to 90 percent protein, respectively, and are used as ingredients to enrich other food products.
Increasing consumption of processed foods and inclusion of western influences in food diets have led to a significant demand for soy protein ingredients market. Rise in demand for efficient and cost- effective meat alternatives across infants is another key aspect accelerating the demand for soy protein ingredients across the globe. However, its anti-nutrients and allergic nature of soy protein ingredients is limiting the growth of this market. Besides, negative impact of genetically modified soy coupled with the availability of various alternatives such as milk proteins, pea proteins and other animal proteins are also affecting the growth of soy protein ingredient market for the forecasted period.
Soy Protein Ingredients Market is globally segmented into type, application and geography.
Soy protein ingredients are of three types- soy protein concentrates, soy protein isolates and soy protein flours. Soy protein concentrates segment is anticipated to register a significant growth during the forecast period, owing to its increased production rate and rise in demand for infant foods. Soy flour is also expected to show a substantial growth in the near future. However due to less protein content in the soy flour is expected to restrain its growth.
Further, the global soy protein ingredients market, by application is segmented into bakery & confectionery, meat alternatives, functional foods, dairy replacers, infant foods and others. Amongst these, functional food is expected to be a major contributor assisting the growth of this market. Rising awareness among the consumer for health beneficiary products is supporting the demand for soy protein ingredient market during the forecast period. Furthermore, infant food is also expected to support the demand of soy protein ingredient market. This is due to the increasing parental concern for providing the nutritious and healthy food to their child.
Based on geography, the global soy protein ingredients market is segmented into North America, Latin America, Europe, Asia-Pacific and Middle East & Asia. North America is anticipated to account for the highest share in the global market by 2024, followed by Europe and Asia-Pacific. The Asia-Pacific market also offers promising opportunities for the manufacturers, due to the growth in the food & beverage and confectionery industries, and dairy products. In addition, increase in disposable incomes in the developing countries, such as China, India, and Japan, fuels the market growth.
Some of the key players involved in the soy protein ingredients market are ADM, Dean Foods, Armor Proteins, Gelita Group, Bunge Alimentos, Kerry Ingredients, Burcon Nutrascience, Cargill Heath, DuPont, Kellogg, Doves Farm Foods, Kraft Foods Group, Manildra Group, MGP Ingredients, Omega Protein Corp, George Weston Foods etc.
The global soy protein ingredients market is segmented into type, applications and geography. By type, the soy protein ingredients market is divided into soy protein concentrates, soy protein isolates and soy protein flours. Soy protein concentrates segment is anticipated to grow rapidly during the forecast period, due to its increased production rate and rise in demand for infant foods. Further by application, the market is segmented into bakery & confectionery, meat alternatives, functional foods, dairy replacers, infant foods and others. Amongst these, functional food segment is expected to be a major contributor assisting the growth of this market. Infant food is also anticipated to grow rapidly because of the increasing parental concern for providing the nutritious and healthy food to their child. Geographically, the North American market for soy protein ingredients is expected to be the highest until 2024 followed by Europe and Asia-Pacific. The market in Asia-Pacific is expected to develop speedily due to rise in disposable incomes in the developing countries such as India, China and Japan. The major players involved in the soy protein ingredients market are ADM, Dean Foods, Armor Proteins, Gelita Group, Bunge Alimentos, Kerry Ingredients, Burcon Nutrascience, Cargill Heath, DuPont, Kellogg, Doves Farm Foods, Kraft Foods Group, Manildra Group, MGP Ingredients, Omega Protein Corp, George Weston Foods etc.
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