Tejas Amale
"Soy Protein Ingredients Market is Projected to Reach at a CAGR of 6.9% by 2023, Soy Protein Ingredients Market Size, Share and Global Industry Segmented by type, application, and region"
Soy protein is gaining popularity owing to its nutritive value.
The rising demand for healthy food due to rising burden of diseases is likely to motivate the growth pattern of the soy protein ingredients market over the next couple of years.
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The noted players participating in the competitive landscape of the soy protein ingredients market are-
• Archer Daniels Midland Company (U.S.)
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The global soy protein market is set to offer an incremental opportunity of close to US$ 4 Bn over the next ten years. On the basis of application, soy protein holds the highest market share in food & beverages. Other important application industries of soy protein are animal feed and nutraceuticals and functional foods. The concentrate and isolate forms of soy protein are more prevalent and widely used for variety of applications in various industries. COVID-19 has had a significant impact on the soy protein market.
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The availability of soy protein in various forms and packaging has changed the dynamics of the soy protein industry in recent years. With increased awareness of soy protein ingredients as a competitive source of protein in animal feed, demand for soy protein ingredients in animal feed applications is expected to increase. The increasing availability of soy protein bars is expected to be a major driver for the global soy protein industry over the forecast period. Segmental AnalysisSoy protein isolates, soy protein concentrates, soy protein flours, and others are among the different types of soy protein available. The dominance of America in the global soy protein industry is largely due to increased soy production in South America.
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