ALBANY, N.Y., Dec. 14, 2020 /PRNewswire/ — Transparency Market Research has now published a new research report that offers a detailed information about the global soy protein concentrate market. The research report tries to offer meaningful and actionable insights about the key segments, prominent growth drivers, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.
As per the findings of the research report, the global soy protein concentrate market was valued at ~US$2 Bn in the year 2018. The market is expected grow at a CAGR of ~5% over the course of the given forecast period ranging from 2019 to 2029. Given the rate of growth, the global market is expected to reach a valuation worth ~US$3.7 Bn by the end of 2029. In 2019, the overall volume of the soy protein concentrate market was around 1.5 Mn metric tons.
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Global Soy Protein Concentrate Market – Overview
- Processed soybean is mainly available in three distinct forms – soy protein concentrate with approx. 70% protein, soy flour with approx. 50% protein, and soy protein isolate with 90% protein.
- Soy protein concentrate is mainly defatted soy flour devoid of water soluble carbohydrates, comprising of 70% soy protein. It is prepared by removing soluble sugars from dehulled and dehulled soybeans.
- Soy protein concentrate plays a key role in improving the nutritional value in food and beverage products.
- The growing demand for additional nutritive ingredients in aquaculture and animal foods is expected help in improving the demand for soy protein in the coming years of the forecast period.
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Global Soy Protein Concentrate Market – Key Driving Factors
- With customers becoming better informed about nutrition, the food processing industry has now adopted several formulas which meet the changing demands of the market place. In addition to fight the issues concerning the provision for nutrition-rich food, makers are also concentrating on products’ taste, texture, and appearance.
- As such, there has been a growing demand for soy protein concentrate to improve the texture and functional properties of different food products, and thus expected to drive the growth of the global market.
- In addition to this, increasing demand from the animal feed industry, particularly from the aqua feed sector is expected to drive the development of the global soy protein concentrate market in the coming years of the forecast period.
- Furthermore, the use of low antigen soy protein concentrate for producing plant-protein aqua feed in order to lower the dependence on fishmeal is projected to drive the overall growth of the global market in the near future.
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Global Soy Protein Concentrate Market – Geographical Outlook
- Based on geographical divide, the global soy protein concentrate market is segmented into five key regions. These regions are North America, Latin America, Middle East and Africa, Asia Pacific except Japan, and Europe.
- Of these, currently, the global market is being dominated by the regional segment of APEJ and is expected to continue to do so in the coming years of the forecast period.
- The growth of the regional segment is attributed to increasing demand for clean label products and growing awareness about healthy and plant-based food products in emerging economies such as India and China.
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Soy Protein Concentrate Market – Key Players
Some of the key players in the global soy protein concentrate market are Gremount International Company Limited, Archer Daniels Midland, Cargill Inc., Nordic Soy Oy, Nutra Food Ingredients LLC, Wirral International, Food Chem International Corporation, Batory Foods, Euroduna Food Ingredients, CHS Inc., and others.
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Global Soy Protein Concentrate Market: Segmentation
Soy Protein Concentrate Market by Grade
Soy Protein Concentrate Market by Form
Soy Protein Concentrate Market by Application
- Animal Feed
- Meat Processing
- Bakery & Confectionary
Soy Protein Concentrate Market by Function
- Fat & Water Absorption
Soy Protein Concentrate Market by Region
- North America
- The U.S.
- Latin America
- Rest of Latin America
- The U.K.
- Rest of Europe
- Asia Pacific Excluding Japan
- Australia & New Zealand
- Rest of Asia Pacific Excluding Japan
- Middle East & Africa
- GCC Countries
- North Africa
- South Africa
- Rest of Middle East & Africa
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