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Colombia Soy Protein Market- Size, Trends, Competitive Analysis and Forecasts (2022-2027)

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  • 106 Pages
  • February 2022
  • Region: Colombia
  • Hypercube Insights
  • ID: 5544297

Colombia Soy Protein Market to be worth $137 million by 2027

Columbia is also among the largest economies in the South American region. Since the last few decades, the country has suffered from various problems related to terrorism, drugs smuggling, violence, and political instability. All these adversities have primarily impacted the country's economy and thereby the already weak manufacturing sector. However, since the last 2 to 3 years, the country's growth has been marginally high with increasing political stability. The soy protein market in Colombia currently accounts for 8% of the soy protein market in South America. The demand for vegan and vegetarian products in daily diet is ever increasing due to rising health concerns among the Columbians. Along with this, the country's young and middle-aged population are increasingly consuming supplement products. These trends in the country project the revenue of the soy protein market to grow at a CAGR of 6.0% from 2022 to 2027, to attain the value of $137 million by 2027.

Major constraint of the soy protein market in the country is the high popularity of whey protein-based supplement products. The demand for whey protein products among the population regularly attending the fitness studios is growing due to high recommendations from the gym trainers and fitness instructors. However, with the rising trend of veganism, the demand for plant-based protein sources such as soy, rice, wheat, and pea has grown rapidly. Currently, the application of the soy protein market across the dietary supplement industry captures around 26% of the market share. Columbia, being an emerging economy, global soy protein manufacturers are planning to invest in the country that would boost the growth of the soy protein market.

The young population and middle-aged people in the country are adopting vegan and vegetarian trends. Moreover, the awareness about sensitiveness towards lactose and gluten has been growing in the country. These factors have resulted in the growing market application of soy protein across the food and beverage industry. In the last few years, the meat and dairy alternatives market has recorded a significant rise. In addition, vegetarian food manufacturers are driving aggressive campaigns to promote soy protein-based products, which has raised awareness about soy protein-based food alternatives. Beverages containing soy protein ingredients, such as protein-based juices, flavored drinks, shakes, and smoothies, are entering the market rapidly. Given these attributes in the food, beverage, and supplement industries, the soy protein market in the country is estimated to grow rapidly in the coming years.

Key Deliverables

  • Market trends since 2018 and five year forecasts of market growth
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects, and competition pattern
  • Insights on the growth potential of the market
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry

Table of Contents

1. Introduction
1.1 Research Methodology
1.2 Scope of the Study
1.3 Assumptions
2. Summary
2.1 Market Summary by Type
2.2 Market Summary by Application
3. Industry Dynamics
3.1 Drivers
3.1.1 Demand for cheaper sources of plant-based proteins
3.1.2 Increasing awareness about obesity-related health problems
3.1.3 Strengthening demand for lactose-free, gluten-free proteins
3.1.4 Accelerating demand for meat alternatives
3.1.5 Growing demand of soy protein from animal feed industry
3.2 Restraints
3.2.1 Presence of allergens making it less appealing
3.2.2 Growing threat from substitute products
3.3 Opportunities
3.3.1 Growing applications in sports nutrition & weight management
3.3.2 Growth in functional food & nutraceuticals industry
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining power of Suppliers
3.4.2 Bargaining power of Buyers
3.4.3 Degree of Competition
3.4.4 Threat of Substitution
3.4.5 Threat of new entrants
3.5 Future Trends in Soy Protein Industry
3.6 Value Chain Analysis
3.7 Industry Policies & Regulations
3.8 Market Innovations
4. Market Size and Forecast
4.1 Market Share, Type
4.1.1 Soy Protein Isolates
4.1.2 Soy Protein Concentrate
4.1.3 Soy Protein Hydrolysates
4.1.4. Textured Soy Protein
4.1.5. Others (Soy Flour, Soy Grits, Soy Chunks, Brushed Soy Protein)
4.2 Market Share, Processing
4.2.1 Ultrafiltration
4.2.2 Isoelectric precipitation
4.2.3 Enzymatic hydrolysis
4.2.4 Others
4.3 Market Share, Application
4.3.1 Food Infant Formula Confectionary Bakery Snacks Dairy Alternatives Meat Analogs & Substitutes Others
4.3.2 Beverages
4.3.3 Dietary Supplements
4.3.4 Animal Feed
4.3.5 Others
5. Competitive Analysis
5.1 Market Share Analysis
5.2 Growth Strategies of leading players
5.3 Investment and Development Prospects
5.3.1 Investment in past five years
5.3.2 Investment Opportunities
5.4 Competition Pattern
5.4.1 Concentration Ratio
5.4.2 Industry Competition
5.5 Price Trend Analysis
5.5.1 Product Classifications and Their Prices
5.5.2 Factors Influencing Prices
6. Company Profiles
6.1 Archer Daniels Midland
6.2 Cargill Inc.
6.3 Wilmar International
6.4 DowDuPont Inc.
6.5 The Scoular Company
6.6 Devansoy Inc.
6.7 Kerry Ingredients Inc.
6.8 Fuji Oil Co. Ltd.
6.9 CHS Inc.
6.10 Shandong Wonderful Industrial Group Co., Ltd
6.11 Shandong Sinoglory Health Food Co., Ltd.
6.12 Crown Soya Protein Group
6.13 Farbest Brands
6.14 Biopress S.A.S.
6.15 Now Foods
6.16 Victoria Group
6.17 A Costantino & C. S.P.A.
  • Sources
  • Disclaimer

Companies Mentioned

  • Archer Daniels Midland
  • Cargill Inc.
  • Wilmar International
  • DowDuPont Inc.
  • The Scoular Company
  • Devansoy Inc.
  • Kerry Ingredients Inc.
  • Fuji Oil Co. Ltd.
  • CHS Inc.
  • Shandong Wonderful Industrial Group Co., Ltd
  • Shandong Sinoglory Health Food Co., Ltd.
  • Crown Soya Protein Group
  • Farbest Brands
  • Biopress S.A.S.
  • Now Foods
  • Victoria Group
  • A Costantino & C. S.P.A.