Inclination of End-Users Towards Vegetarian Food Boost the Global Soy Protein Market

Global Soy Protein Market Report, published by Variant Market Research, forecast that the global market is expected to reach $7,430 million by 2024 from $4,691 million in 2016; growing at a CAGR of 5.9% from 2016 to 2024.

San Francisco, California, October 3, 2017 /India PRwire/ -- Global Soy Protein Market Report, published by Variant Market Research, forecast that the global market is expected to reach $7,430 million by 2024 from $4,691 million in 2016; growing at a CAGR of 5.9% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 6.8% and 6.5%, respectively, during the forecast period.

Factors such as increasing popularity of baby foods covering soy proteins, inclination of consumers towards vegetarian food, and increasing awareness among consumers are boosting the growth of global soy protein market. However, availability of alternative protein sources and allergic nature for these foods may decline the market from growing. Furthermore, cultivating organic soy and untouched markets would generate several growth opportunities in the forecast period.

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The global soy protein market is primarily classified into product type, form type, application and function type. The segmentation by product type is given as soy proteins isolates, soy proteins hydrolysates, and soy proteins concentrates. By product type, soy protein concentrates dominated the market with highest share in 2016, while hydrolysates are probable to lead the market with fastest CAGR in the forecasted period 2016-2024. By form type, the market is further bifurcated into dry and liquid. Furthermore, applications segment comprises of bakery & confectionery, functional foods, and others. Among which, functional foods segment accounted for 67.4% of the total market share in 2016. Additionally, function type is divided into nutrients, fat & water absorption texturants, and emulsifier.

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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the key classification of the global soy protein market. In 2016, North America lead the market with major share of 39.8%, due to increasing implementation of soy and used as an alternative for meat; followed by Europe with a total market share of 31.8% in 2016. Besides, Asia Pacific is probable to lead the market with fastest CAGR in the forecasted period i.e. 2016-2024, driven by the increase in preference for soy products instead of dairy products and lifestyle diseases.

The key players in the market include Omega Protein Corporation, Burcon Nutra Science Corporation, Crown Soya Protein Group, DuPoint Nutrition & Health, George Weston Foods, Wilmer International, Ruchi Soya Industries, Archer Daniels Midland Company, Kerry Ingredients Inc., and Armor Proteins, among others.

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Scope of Soy Protein Market

Product Type Segments

  • Proteins Isolates
  • Soy Proteins Concentrates
  • Soy Proteins Hydrolysates

Form Type Segments

  • Dry
  • Liquid

Application Segments

  • Bakery & Confectionery
  • Functional Foods
  • Others

Function Type Segments

  • Nutrients
  • Emulsifier,
  • Fat & Water Absorption
  • Texturants

Geography Segments

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Others
  • Asia-Pacific
    • India
    • China
    • Japan
    • Others
  • RoW
    • South America
    • Middle East
    • Africa

Notes to Editor

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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