Global soy protein ingredients market is anticipated to grow to USD 10.34 billion by 2023 with a CAGR Of 7.8%. The Asia-Pacific region is expected to register the highest growth rate. Soy protein is derived from dehulled and defatted soy meal, which is left after oil extraction from soybeans.
Soy protein lends valuable functional characteristics in processing systems. Soy ingredients help retain moisture and flavor, act as emulsifiers, and help impart texture to many foods like meat, peanut butter, frozen desserts, and cheese. Moreover, soy proteins are believed to have excellent health benefits as they are cholesterol free, lactose-free and contain a complete profile of essential amino acids. Soy proteins are high in digestibility and have protein equivalent to milk, meat, and eggs.
The growing population in Asia-Pacific presents a huge opportunity in the form of a large consumer base, which is adopting a healthier lifestyle. Increased sources of information are aiding in spreading awareness about health benefits of soy, which is resulting in the speedy adoption of soy ingredients in their day to day life. A huge population in Asia-Pacific is vegetarian on account of religious belief and therefore seeks quality plant sources of protein to compensate in the diet. Additionally, the growing sports & nutrition and food & beverage sector in the Asia-Pacific region has also increased demand for soy protein ingredients. A large population in this region is lactose intolerant, and non-milk-based ingredients and products posses huge potential in this market. The soy protein market faces few challenges due to its anti-nutritional components and risk of allergies. However, ongoing research is anticipated to overcome this.
Asia-Pacific soy protein ingredients market can be broadly segmented by type into soy concentrate, soy isolate, and soy flour. These find application in various industries, like bakery and confectionery, meat alternatives, functional food, dairy replacement, and infant foods. Soy is being increasingly used by the supplement industry, in capsules and tablets, as well as, by the functional food industry for manufacturing bars, bread, breakfast cereals, dairy products, and beverages.
In Asia-Pacific soy protein market, China has the largest share. Major countries for soy protein market are China, Japan, India, and Australia. China and India are regions of increasing growth. The growing population and disposable income have made these regions areas of immense potential and opportunities.
- January 2018 - Cargill created clean labeled bread made with plant-based protein.
- November 2017 - Ingredient giant Archer Daniels Midland Company lead a step-change advance in meat functionality by selling soy products from its Brazilian plant to the Middle East & Africa.
Reasons to Purchase this Report
- Analyzing outlook of the market with the recent trends and Porters five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
This report can be customized to meet your requirements.
1.1 Research Methodology
1.2 Definition of the Market
2. Key Findings of the Study
3. Market Dynamics
3.1.1 Adoption of Functional Food and Nutritional Supplements to Maintain Healthy Lifestyle
3.1.2 Rising Awareness about Scientific Evidence of Various Health Benefits of Soy Protein
3.1.3 Cost-effective Quality Substitute for Animal Protein
3.1.4 Increasing Research and Inheriting Functional Properties for Versatile Applications
3.2.1 Availability of Alternate Vegetable Protein Options
3.2.2 Non-nutritional Components and Risk to Allergies
3.3.1 Expanding Population Having Increasing Disposable Income with Changing Dietary Habits
3.3.2 Rapid Growth of Food & Beverage Sector in Asian Countries
3.3.3 Growing Sports & Nutrition Market
3.3.4 High Rates of Lactose Intolerance among the Population
3.4 Porters Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Type
4.1.1 Soy Isolates
4.1.2 Soy Concentrates
4.1.3 Soy Flours
184.108.40.206 Textured Soy Flour
220.127.116.11 Textured Soy Protein
4.2 By Application
4.2.1 Bakery and Confectionery
4.2.2 Meat Alternatives
4.2.3 Functional Foods
4.2.4 Dairy Replacement
4.2.5 Infant Foods
4.3 By Geography
18.104.22.168 Rest of Asia Pacific
5. Competitive Landscape
5.1 Most Adopted Strategies
5.2 Most Active Companies
5.3 Market Share Analysis
6. Company Profiles
6.5 Gushen Biological Technology Group Co., Ltd.
6.6 Linyi Shansong Biological Products Co., Ltd.
6.7 Kerry Group
6.8 Sakthi Sugars Ltd (Soy Products)
6.9 Sinoglory Enterprise Group
6.10 Sojaprotein Soy Protein Concentrates
6.11 Sonic Biochem Extractions Ltd. (Protein)
- Gushen Biological Technology Group Co. LTD.
- Linyi Shansong Biological Products Co. LTD.
- Kerry Group
- Sakthi Sugars Ltd (Soy Products)
- Sinoglory Enterprise Group
- Sojaprotein Soy Protein Concentrates
- Sonic Biochem Extractions Ltd. (Protein)