The Soy Protein Market is estimated to be valued at US$ 7.51 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: -

Soy protein is obtained from soybean through different extraction processes. It is high in proteins and fibers and low in saturated fats. It is widely used in nutraceuticals, animal feed, bakery, meat alternatives and other food applications due to its functional properties like emulsification, water absorption, and gelation. Soy proteins play an important role in promoting muscle recovery and growth. They also help lower cholesterol levels and minimize the risks of cardiovascular diseases and osteoporosis.

Market Dynamics: -

The growing health conscious consumer base preferring plant-based diets and meat alternatives is one of the major drivers of the soy protein market. According to studies, consumption of soy-based diets reduces the risk of heart diseases, type 2 diabetes, and certain types of cancers. Therefore, increasing health awareness among consumers through education and marketing campaigns positively impacts the market growth. Furthermore, growing concerns over animal welfare and sustainability is also fueling the demand for plant-based meat alternatives made from soy protein. However, fear of allergies and higher costs associated with extraction and processing of soy proteins compared to animal proteins act as a restraint for the market.

Segment Analysis: -

The soy protein market is dominated by the soy protein concentrates segment. Soy protein concentrates have a protein content ranging between 65-90% and find wide application in nutrition bars, meat alternatives, dairy alternatives and others due to their functional properties. They impart important qualities like texture, moisture retention and emulsification. Soy protein concentrates cost less than isolates, making them a preferred choice.

PEST Analysis: -

·Political: - Governments across regions are supporting soy protein production and consumption through subsidies and promotions as it is a highly sustainable and cost-effective source of protein. International trade policies also impact the market.

·Economic: - The rising global population and disposable incomes along with inflating meat prices have augmented the demand for affordable protein sources like soy proteins. However, fluctuations in soybean prices remain a challenge.

·Social: - Changing lifestyles and dietary preferences towards vegan, vegetarian and flexitarian diets have raised the importance of plant-based proteins. Health and wellness trends also boost the sector.

·Technological: - Ongoing research is improving soy protein quality, functionality, taste and digestibility. New production processes aid more efficient concentration and isolation of proteins from soybean meal.

Key Takeaways: -

The Global Soy Protein Market Size is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period of 2023 to 2030, due to increasing health and wellness consciousness as well as the rising shift towards veganism and flexitarian diets. The market size for 2023 is estimated at US$ 7.51 Bn.

The Asia Pacific region dominated the global soy protein market in 2022 owing to significant soybean production and large health-conscious population in countries like China and India. North America is anticipated to grow at a high rate during the forecast period driven by rising livestock production and integration of soy proteins in various foods.

Key players operating in the soy protein market are Archer Daniels Midland Company, Cargill Inc., DowDuPont Inc., Imcopa Food Ingredients B.V., CHS Inc., Crown Soya Protein Group, Wilmer International Ltd., Foodchem, Kerry Ingredients Inc., Burcon NutraScience Corporation, and others. These players are focused on new product launches, capacity expansions and mergers & acquisitions to strengthen their market presence.

Read More - https://www.newsstatix.com/soy-protein-market-size-and-trends-analysis/