The Business Research Company’s Soy Protein Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 19, 2022 /EINPresswire.com/ — The soy protein market consists of sales of proteins that are derived from soya bean, a widely grown crop. The soybean is a legume, which grows in pods containing seeds and soy protein is made by processing soybeans to create a superior protein source for consumption. This kind of protein contains high levels of saturated fat and dietary cholesterol and soy protein also has folate, potassium and fiber, making its quality similar to animal protein and higher in quality than nearly all other plant proteins. The main types of products in soy protein are soy protein isolates, soy protein concentrates, textured soy protein and soy flour, grits, and chunks. Soy protein isolate is the most useful form of soy protein as it is primarily used to enhance the texture and eating quality in meat ingredients and contains approximately 90% protein.
Reference to the Global Market Model will evidence the rise in demand with the Soy Protein Global Market anticipated to grow from $9.36 billion in 2021 to $9.85 billion in 2022, at a compound annual growth rate (CAGR) of 5.3%. The growth in the market is mainly due to companies resuming their operations after the COVID-19 impact, which had previously led to restrictive containment measures that resulted in numerous operational challenges. Additionally, the increasing vegan population is further contributing to the growth of the soy protein market. A vegan diet excludes animal products such as fish, dairy, meat, and eggs which has resulted in an increase in demand for soy protein as people seek to add soy protein to their diet to maintain protein balance. This is expected to drive demand with the market size projected to reach $11.89 billion in 2026 at a CAGR approaching 5%, continuing at a marginally reduced growth rate to $14.84 billion in 2031.
North America was the largest region in the soy protein market, accounting for around for one third of the global market in 2021 with Asia-Pacific and Western Europe following behind with around 28% and 23% of the global market respectively. The Middle East was the smallest region in the global soy protein market. By individual country, the USA had the largest share of the global market accounting for around 25%, with China in second position at around half the US size with a share approaching 13%. In the period 2021 to 2026, China is forecast to show the highest growth rate with a CAGR of 5.7% followed closely by Japan, India, Australia, the USA and South Korea, all with 5% plus growth rates.
Soy protein concentrates was the largest market segment within the soy protein market with a global share of 40% in 2021, followed by soy protein isolates with a 28% share and finally soy flour, grits, and chunks and textured soy protein with around 19% and 13% shares respectively, making up the balance. It is the soy protein isolates segment that is marginally forecast to show the highest growth rate in the period 2021 to 2026 at a CAGR of 5.1%, with growth in the other market segments following closely behind.
Technological advancement is a key trend shaping the soy protein market, with companies in the soy protein industry working on improving the quality of the oil, protein, and sustainability profiles of soybeans, increasing the nutritious content of soy protein products and in doing so, augmenting their customer base.
Soy Protein Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides soy protein market overviews, analyzes and forecasts soy protein market size, share, soy protein market players, soy protein market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
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