Global Soy Protein Market is Estimated to Reach $7.4 Billion by 2024, Says Accurize Market Research

Posted August 12, 2019 by jayashripatil

Global Soy Protein Market Size is projected to be valued $7.4 Billion by 2024; with a CAGR of 5.8% from 2017 to 2025. Soy protein, generally regarded as the storage protein, is isolated from soybean held in discrete pa"

Global Soy Protein Market report published by Accurize Market Research forecast that the global market is expected to reach $7.4 billion by 2024; growing at a CAGR of 5.8% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Increasing awareness among consumers to drive the global market

The global soy protein market is majorly driven by factors such as increasing the popularity of infant foods containing soy proteins and increasing awareness among consumers. However, allergic nature and availability of alternative protein sources may hinder the growth of the market. Furthermore, cultivation organic soy and untapped markets would provide growth opportunities in the upcoming years.

Market Segmentation

The global soy protein market has been split into product type, form type, application, and function type. The product type segment includes soy protein isolates, soy proteins concentrates and soy proteins hydrolysates. By form type, the market is segmented as dry and liquid. The applications segment includes functional foods, bakery & confectionery, and others. The function type segment is categorized into nutrients, emulsifier, fat & water absorption and texture.

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North America, Europe, Asia-Pacific and Rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada, and Mexico. Europe covers countries like Russia, the U.K., Germany, France, Italy and the Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. The rest of the World (RoW) covers South America, Africa, and the Middle East.

"Concentrates accounted for the largest market share in the product type segment", says Accurize

In the product type segment, concentrates accounted for the largest market share in 2017, whereas hydrolases are expected to dominate the market with the highest CAGR in the product type segment. Functional foods dominated the application type segment accounting for about 67.4% in 2017.

"North America dominated the global market with the highest market share over the forecast period", says Accurize

North America accounted for the largest market share of 39.8%, owing to the increasing adoption of soy and used as an alternative for meat. Europe was the second-largest market with a total market share of 31.8% in 2017. Moreover, Asia Pacific is expected to dominate the market with the fastest CAGR during the forecast period, owing to the increase in lifestyle diseases and preference for soy products instead of dairy products.

Top players in the market

Major companies operating in the market include DuPont Nutrition & Health, Crown Soya Protein Group, BurconNutraScience Corporation, Omega Protein Corporation, Armor Proteins, Archer Daniels Midland Company, Wilmer International, Kerry Ingredients Inc., George Weston Foods and Ruchi Soya Industries, among others.
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Issued By jpatil
Country India
Categories Food
Tags forecast , regional , report , revenue , share , size , soy protein market , trend
Last Updated August 12, 2019