The report "Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, and Soy Flours), Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, Infant Foods, and Feed), and Region - Forecast to 2022" The Soy Protein Ingredients Market Accounted for a Value of USD 8.5 Billion in 2016 Consumers are increasingly allocating protein-rich food products in their diets to enhance their health. This has encouraged manufacturers in the food & beverage industry to utilize ingredients that cater to the protein requirements of consumers. Manufacturers are increasingly using soy protein ingredients in their food products as they are offer nutrient-dense and cheaper alternatives. According to MarketsandMarkets, the soy protein ingredients market is projected to account for a value of USD 12.8 billion, recording a CAGR of 7.2%.
Browse 133 market data Tables and 37 Figures spread through 168 Pages and in-depth TOC on "Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, and Soy Flours), Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, Infant Foods, and Feed), and Region - Forecast to 2022 "
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Increasing adoption of protein-rich diet among health-conscious consumers has encouraged retailers to extend the shelf space for soy-based food products. To cater to the increasing demand for protein-rich food products among consumers, manufacturers are increasingly utilizing soy protein isolates as they enhance moisture retention and the texture of food products. Increasing demand for soy protein isolates in the food & beverage industry is projected to contribute significantly to the market growth during the forecast period.
With the increasing consumption of bakery, confectionery, and meat products, manufacturers are identifying various types of soy proteins that enhance the nutrition quotient of products. Due to the increasing consumption of protein-rich soy-based food products, the demand for soy protein ingredients is projected to remain high in the food industry during the forecast period.
The demand for food products is projected to increase in parallel to the population growth in various Asia Pacific countries. As the preference for protein-rich food products remains high among consumers in the region, manufacturers in this region witness increasing demand for soy protein ingredients. Due to these factors, Asia Pacific is projected to dominate the soy protein ingredients market during the forecast period.
E. I. du Pont de Nemours and Company (US), Archer Daniels Midland Company (US), Sonic Biochem Limited (India), and Cargill (US) are some of the leading companies operating in the soy protein market. Key players in this market focus on adopting strategies, such as product innovations and new product launches, to expand their presence across regions.
Overall, the soy protein market is projected to record significant growth during the forecast period. The shift in preferences of consumers toward protein-rich food products has encouraged manufacturers in the food & beverage industry to invest in soy protein ingredients. In addition, increasing demand for food products that supplement the health of consumers has spiked the consumption of soy protein ingredients across regions. These factors are projected to contribute to the growth of the market throughout the forecast period.
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