Soy Protein Market to Cross a Valuation of US$ 9 Bn by 2029; Increasing Use in Animal Feed Catalyzing Market Growth
Published On : Mar 06, 2020
Excellent amino acid composition with high level of digestibility of soy protein lead to its increasing use in animal feed products over other protein sources, which contributes to the growth of the global soy protein market. Moreover, soy-based products such as soy protein and soybean meal contain a perfect composition of cruse protein, digestible energy, and crude fiber, making them the preferred feed for livestock farmers, pet owners, and poultry farmers.
The global soy protein market has been witnessing steady growth over the past few years, and this growth is projected to continue throughout the forecast period of 2019-2029, with the market estimated to register a CAGR of 5% through 2029.
Key Takeaways of Soy Protein Market Study
- North America and Europe account for the largest demand for soy protein, attributable to the substantial demand for soy protein for use in animal feed in these regions.
- Use of soy protein is increasing in many nutraceutical products, attributable to growing consumer inclination toward sports and fitness, globally.
- Increasing popularity of plant-based diets is providing substantial thrust to the global soy protein market, as nutritious soy protein is considered as the best ingredient for manufacturing food products for the vegan as well as health-conscious population.
- The organic soy protein segment, under nature, has been experiencing substantial growth in North America and Europe. This is due to the increasing demand for organic soy protein to cater to the demand of consumers from these regions that prefer organic food over conventional food.
“Soy protein is mainly popular among sportspersons and athletes. However, positioning their products as no-cruelty and nutritious options could enable manufacturers in the global soy protein market gain additional, substantial profits,” says a PMR analyst.
Global Soy Protein Market: Competitive Landscape
Key players in the soy protein market are focusing on regular product launches, and are strategically targeting the food and nutraceutical sectors, as well as other industries, by offering industry-specific ingredients.
- DuPont launched its new soy protein and fiber nuggets, which help its customers capture opportunities in the protein and fiber markets. These nuggets also have various applications in the food industry, attributable to their excellent textures and nutritional values.
Players in the global soy protein market are striving to introduce cost-effective meat processing services, and are incorporating the use of the various plant-based proteins such as soy protein to capture a wider consumer base, by including vegans and flexitarians.
- Archer Daniels Midland Company invested in a plant-based meat company Beyond Meat, which uses different plant-based protein products such as soy protein, pea protein, and other proteins to make plant-based meat products.
Explore More Valuable Insights on Soy Protein Market
Persistence Market Research, in its new report, offers an impartial analysis of the global soy protein market, presenting historical data (2014-2018) and estimation statistics for the period of 2019-2029. The study offers compelling insights on the soy protein market based on nature (organic and conventional), form (isolates, concentrates, and others), and end use (food & beverages, animal feed, nutraceuticals, and cosmetics & personal care), across seven regions.
For additional insights on how the soy protein market will shape up over the next decade, write to firstname.lastname@example.org
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Soy Protein Market
Global Market Study on Soy Protein: Increasing Use of Soy Protein being Witnessed in Plant-based Meat Products
Global Market Study on Soy Protein: Increasing Use of Soy Protein being Witnessed in Plant-based Meat ProductsRequest TOC