Soy Protein Market by Type , Application and Geography - Global Forecast to 2025
Soy Protein Market Size by Type (Soy Protein Concentrates; Soy Protein Isolates; Textured Soy Protein; and Soy Flour, Grits, and Chunks), Application (Food and Beverages, Animal Feed, and Others), and Geography-Global Forecast to 2025
The Global Soy Protein Market is expected to reach $7.3 billion by 2025, at a CAGR of 7.1% during the forecast period of 2019 to 2025. In terms of volume, this market is expected to grow at a CAGR of 5.5% from 2019 to 2025 to reach 5,026 thousand MT by 2025.
The growth in this market is mainly attributed to the increasing awareness about the benefits of protein and growing demand for protein rich diet, growing health and wellness trend, increasing consumers’ focus on meat alternatives, and advancements in ingredient technologies such as microencapsulation. In addition, increasing inclination of consumers towards vegan diet and emerging economies such as Southeast Asia, Latin America, and the Middle East & Africa provides significant opportunities for the manufacturers in the global soy protein market. However, significant preference for animal-based protein, fluctuating raw material prices, and consumer preference to soy free products hinders the growth of this market.
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The study offers a comprehensive analysis of the global soy protein market with respect to various types. The global soy protein market is segmented on the basis of type (soy protein concentrates; soy protein isolates; textured soy protein; and soy flour, grits, and chunks), application (food and beverages, animal feed and pet food, and others), and geography.
Based on type, soy protein concentrates segment is estimated to hold the largest share of the overall soy protein market in 2019. However, soy protein isolate is estimated to witness the fastest growth during the forecast period. The fast growth of this segment is attributed to increasing demand from food and beverages and nutraceutical product manufacturers, owing to its nutritional and functional properties such as high protein content, neutral taste, and high viscous nature.
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Last Update : Dec 12, 2019 11:57 PM
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