The global for Soy Protein Concentrate market had a valuation of $2.16 billion in 2022, and it is projected to reach $4.0 billion by 2032, exhibiting a robust compound annual growth rate (CAGR) of 8% over the forecast period.
The growth in market revenue is primarily attributed to the increasing popularity of health and wellness diets, which emphasize a high-protein intake, and the growing preference among consumers for vegan and vegetarian dietary choices. An escalating number of individuals are adopting plant-based protein sources as an eco-conscious alternative to traditional meat products, driven by their awareness of the environmental impact of meat production. Given its status as a complete protein source containing all nine essential amino acids, soy protein concentrate is a favored option for vegans and vegetarians.
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Top Companies:
- ADM
- Cargill
- Wilmar International
- DuPont Nutrition & Biosciences
- CHS Inc.
- Kerry Group
- Nutra Food Ingredients LLC
- Sonic Biochem Extractions Limited
- Food Chem International Corporation
- Gushen Group
- Scents Holdings Corporation
Here are some key trends that were prevalent at that time:
- Health and Wellness Trends: Soy protein concentrate is considered a healthy protein source because it is low in saturated fat and cholesterol. Consumers' increasing focus on health and wellness was expected to drive the demand for soy protein concentrate products.
- Expansion in Food and Beverage Applications: Soy protein concentrate is used in a wide range of food and beverage applications, including meat alternatives, dairy alternatives, and sports nutrition products. The market was witnessing an expansion of soy protein concentrate use in these sectors.
- Clean Label and Non-GMO Preferences: Consumers were increasingly looking for clean-label and non-GMO (genetically modified organism) products. This trend was pushing manufacturers to use non-GMO soybeans and promote such labeling on their products.
- Technological Advancements: Ongoing research and development in the soy protein concentrate industry aimed to improve the taste, texture, and functionality of soy protein-based products. This was expected to enhance the market's appeal to a broader consumer base.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Soy Protein Concentrate market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Soy Protein Concentrate market is provided to gain a deeper understanding of its growth and progress.
The global Soy Protein Concentrate market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook:
- Conventional Soy Protein Concentrate
- Organic Soy Protein Concentrate
Application Outlook:
- Food and Beverages
- Animal Feed
- Pharmaceutical
- Others
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