Soy Protein Ingredients Market By Type (Soy Protein Isolates, Soy Protein Concentrates, Soy Flour), By Application (Bakery And Confectionary, Processed Meat Products, Functional Foods, Dairy Replacers, Infant Foods) - Growth, Future Prospects And Competitive Analysis, 2016 - 2023

Transformation of raw material into healthy food product is resultant of efficient processing, preparation, distribution and finally consumption of food product. Increasing concerns of consumers regarding healthy and green food products, demand for plant products is anticipated to remain significant in the near future. Technological advancements in food have led towards development of varied soy products including isolates, concentrates and other edible soy products. This has further led to increased consumption of soy-based products among consumers across the globe. Soy protein products are used as functional and nutritional food ingredient across various food products. Owing to demand for low-cost source of protein from plants, the food product formulators are focused on developing products, which offer enhanced nutrients required for the human body.

Some of the factors driving the demand for soy protein ingredients include changing consumer food patterns, inclination of consumers towards vegetarian food, rising meat prices, ban on usage of animal sources by governments of various countries, increasing availability of ready-to-eat food products and increasing concerns of consumers towards healthy and nutritious food products. However, taste preferences for soy-based products restricts its adoption among few consumers and thus, might hinder the soy protein ingredients market growth rate in the near future.

Globally, soy protein ingredients market in North America is expected to be largest in terms of value followed by Europe and Asia Pacific. Increasing government support and subsidies related to improved agricultural practices and crop yield methods. Asia Pacific is further anticipated to exhibit fastest CAGR during the forecast period, which is attributed to growing food and beverage industry in China and India leading towards demand for soy protein ingredients coupled with awareness among consumers regarding of soy protein ingredients benefits such as low fat and sugar content, environment friendly as compared to animal protein ingredients and high nutritional content.

Global soy protein ingredients market is expected to be valued at US$ 8.0 Bn by the end of 2016 and is projected to expand at a CAGR 6.3% during the forecast period 2016-2023.

Purpose of the Report

The purpose of this strategic research study titled “Global Soy Protein Ingredients Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2016 – 2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global soy protein ingredients market.

Target Audience

• Industry Investors
• Research Professionals
• Emerging Companies
• soy protein ingredients manufacturers
• Oil & Gas exploration and production companies
• Downstream & Midstream Companies
• Research Institutes
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USP and Key Offerings

The report titled “Global Soy Protein Ingredients Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2016 – 2023” offers strategic insights into the soy protein ingredients market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on type, application and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading soy protein ingredients manufacturers, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:

• Current and future market trends to validate the forthcoming attractive markets within chemicals and materials industry
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 3-Year market size data (2013 – 2015)
• SRC (Segment-Region-Country) Analysis
•  

Overall, the research study provides a holistic view of the global soy protein ingredients market growth, offering market size and estimates for the period from 2013 to 2023, keeping in mind the above mentioned factors.

On the basis of application, the soy protein ingredients market is categorized into following types:

• Bakery and Confectionery
• Processed Meat Products
• Functional Foods
• Dairy Replacers
• Infant Foods
• Others
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Of different applications, bakery and confectionery segment holds largest market share and is expected to maintain its dominance throughout the forecast period. Increasing bakery and confectionery food product consumption along with demand for high quality and protein rich food products among consumers drives the demand for soy protein ingredients in these products subsequently.  

Furthermore, increasing demand for healthy and plant-based products especially from countries such as India, China and Brazil, wherein shifting consumer preferences for food products plays a pivotal role in adoption of better and efficient ingredient sources such as soy protein ingredients among manufacturers, thus mitigating the demand for nutritional food ingredients among consumers globally. Functional foods segment is expected to record highest growth, which is attributed to its increasing consumption of these products, leading towards development of ingredients suiting the end use consumer requirement, thereby fuelling soy protein ingredients market growth across the globe. In addition, ban on animal protein as an ingredient in food products coupled with new product development with customization stimulates the soy protein ingredients market growth.

For the purpose of this study, the global soy protein ingredients market is categorized into:

• North America
• Europe
• Asia Pacific
• Latin America (LATAM)
• Middle East and Africa (MEA)
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In 2015, North America was the leading market followed by Europe. Both these regions together accounted for more than 70% share of the market in terms of value. However, growth is projected to be fastest from the Asia Pacific region during the forecast period 2016 to 2023. Growth in this region is attributed to various factors including rising demand for green label food products coupled with increasing awareness related to healthy and plant-based products especially in countries such as China and India. 

This is further expected to lead towards adoption of clean label products, thus fuelling soy protein ingredients market growth. Moreover, functional food acceptance among consumers in Asia Pacific is increasing, which is further anticipated to fuel the demand for soy protein ingredients among the food product manufacturers, thereby a significant market growth. The market for soy protein ingredients in North America is anticipated to record significant growth, followed by Europe and Latin America. The market for soy protein ingredients in Middle East and Africa is projected to grow at a moderate rate during the forecast period.