Market Overview
An exponential spike in demand for meat extenders, substitutes, and analogs is expected to favor the global soy protein industry in the coming years. As per the liquid soy protein market 2020 report prepared by Market Research Future (MRFR), the market can rise at decent pace to earn considerable turnover in the mentioned tenure. The expansion of the textured soy protein market and ease of procuring soy protein ingredients due to the availability of modern extraction machinery that are driven by advanced technologies can support the market growth. The surge in consumption of high protein meat alternatives is observed to encourage marketers adopt robust plans for expansion and acquisitions to promote their business. Moreover, key players are observed to capitalize on several regional growth potential of the soy protein market. The increase in the consumption, thus the production of soy protein can be counted under potential growth opportunities. However, the introduction of high-quality GM-based food solutions that comes along with stringent safety norms and government regulations can hinder the market surge. Issues with the unpleasantness of the flavor of soy products can also challenger the market in the near future. Modern soy protein producers are inclined towards developing high grade food products and are adopting robust strategies to significantly improve consumer experience. Thus, their deliberate effort in delivering top quality food solutions encourage them to take required measures can aid the market gain momentum.
Market Segmentation
The segment study of the global soy protein market is based on application, form, type, and distribution channel among others.
The type-based segments of the global soy protein market are soy protein flours, soy protein isolates, and soy protein concentrates among others. The soy protein isolates segment can hold large market share that can exhibit high CAGR in the evaluation period.
The form-based segments of the global soy protein market are ready to drink beverages, powder, bars, and capsules/tablets among others. The powder segment can dominant the global soy protein market as it can lead with the generation of considerable revenue over the evaluation period.
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The application-based segments of the global soy protein market are meat additives, functional foods, sports nutrition, pharmaceuticals, and confectionery and food products among others. The sport nutrition segment can dominant the worldwide soy protein market in the assessment period.
The distribution channel-based segments of the global soy protein market are convenience stores, ecommerce, and supermarket/hypermarkets among others. The segment for supermarket/hypermarket can retain the forefront position through the review period.
Regional Analysis
The Americas can secure the forefront position in the world market as the demand for protein powders, bars, and shakes among the regional populace. The growing enthusiasm for fitness and increase in demand for dieticians those are observed to include soy protein can also support the market expansion. In Asia Pacific, the rise in obese populace and growing awareness about soy protein products as functional food can also favor the regional market through the analysis period. In North America, the soy protein market can exhibit gradual expansion of the market across the study period. Mergers and other expansionism plan that are incubated by regional players to secure global foothold are observed to generate extensive revenue when set in motion. Thus, this can support the progress of the soy protein market across different regions. Moreover, the establishment of start-ups can also promote the market across different geographies.
Competitive Analysis
Solae, Solbar, Archer Daniels Midland Company, Gushen Biological Technology Group Co. Ltd., Ingredion, and Cargill, DuPont are some top-notch companies that are analyzed by MRFR for insights on the competitive landscape of the global soy protein market.
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