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North America accounted for highest share of the total soy protein ingredients market revenue in 2018

11-27-2018 01:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Soy Protein Ingredients Market

Soy Protein Ingredients Market

Global Soy Protein Ingredients Market was valued at $7,506 million in 2016 and is expected to reach $12,205 million by 2023, registering a CAGR of 7.2% from 2017 to 2023. Soy protein ingredients are a product of soybean. They are isolated from soybean meal which has been defatted and dehulled. Defatted and dehulled soybeans are processed into three types of high protein products including soy protein concentrates, soy flour, and soy protein isolates. All these three types of soy protein ingredients contain 70% protein, 20% carbohydrates, 6% ash and around 1% oil. Soy protein ingredients provide almost all the types of amino acids for human nutrition and are identical to other legume pulses and are considered to be one of the least expensive sources of protein.

The global soy protein ingredients market is segmented based on type, application, and geography. Based on type, it is divided into soy protein isolates, soy protein concentrates and soy flours. On the basis of application, the global soy protein ingredients market is segmented into bakery and confectionary, meat alternatives, functional foods, dairy replacers, infant foods and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Soy proteins are derived from soybean meal, which has been defatted & dehulled. Defatted & dehulled soybeans are processed into three types of high-protein commercial products, namely, soy protein concentrates, soy protein isolates, and soy flours.

Currently, the global soy protein ingredients market is witnessing numerous opportunities due to increase in awareness among consumers for protein healthy diet. Moreover, soy protein concentrate is a nutritional supplement manufactured after the soy is dehulled & defatted. Soy protein concentrate is obtained upon the removal of certain percentage of non-protein constituents from the raw soymeal. The percentage of protein in lower end concentrates ranges from 30% to 90%. In addition, consumption of soy protein concentrate powder as a supplement has increased, owing to regular recommendations by dieticians & doctors in response to a wider set of customers demand for protein supplements in their diets. Rise in prevalence of alternatives, such as whey protein ingredients and increase in inclination of consumers toward high-quality animal protein are some factors anticipated to hamper the market growth.

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The functional foods segment accounted for around one-fifth share, in terms of volume, in 2016. In response to the perennial modifications, such as brining, baking, and texture of soy products among the bakery & confectionery industry and meat alternatives, soy protein ingredients are in high demand globally. Thus, increase in demand for soy protein concentrates, especially in sports nutrition as protein supplements, fuels the market growth.

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