A new market study, titled “Discover Global Soy Protein Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
The Soy Protein Market has been performing very well in the dynamic market environment. The protein that is extracted from soybeans is gaining popularity as it can be processed into different varieties of protein-rich commercial products such as soy flour, isolates, and concentrates. The main materials in soy protein include alcohol, soybean, and hydrochloric acid. This attractive industry is highly fragmented based on suppliers, products and end-uses. Until the year 2016, China dominated the market scene as it was the chief producer as well as the exporter of soy protein concentrates. But the United States of America and Europe have succeeded to exhibit a consistent performance in the market setting.
It has been estimated that the global Soy Protein Market will reach around USD 14.32 billion by the year 2025. Thus it could experience a growth at CAGR of8.1 per cent. Various factors could lead to this like changing lifestyle and expanding health and wellness trend. The market has strong potential due to the rising demand for soy protein in various forms. A thorough assessment of the market has been carried out by using several vital strategic tools and techniques. The objective is to shed light on the growth prospects of the industry.
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Key Players of Global Soy Protein Market =>
Due to the high attractiveness of the Soy Protein Market in different segments, a large number of market participates have entered the attractive industrial setting. Some of the major market players are Cargill, DuPont, Sojaprotein, Goldensea Industry, FUJIOIL, IMCOPA, Shandong Sanwei, Henan Fiber Source, Scents Holdings, and many more. As the industry is highly attractive, it comprises of numerous market players that intend to capture a significant portion of the market share. China is known to be one of the major market segments from where a large number of industry players originate.
Industry segmentation
The Soy Protein Market can be segmented based on regions, type, and application. The subcategories of the market based on regions include Europe, China, Japan, and North America. Based on type, the main sub-categories include soy protein concentrates, soy protein isolate, soy flour and textured soy protein. Based on application, the sub-segments of the market include animal feed, beverages, bakery and confectionery, processed meat products and others. Soy flour captures the largest market share. The main reasons for this include the low prices of the product and the simple process relating to its production.
Latest Industry News
The global plant-based protein market is expected to showcase dynamic performance in the coming years. The main reasons for the surge in the level of attractiveness of the industry include the increase in the level of awareness relating to the core benefits of protein and the overall growth in the demand for protein-rich diet among the current generation. Another major trend that has been observed is that in the current times, number of people are in search of meat alternatives. The dynamic advancement in ingredient technologies like microencapsulation has further influenced the Soy Protein Market positively.
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