Soy protein is a product of soybean. These proteins are extracted from soybean meals which are dehulled and defatted. Dehulled and defatted soybeans are further processed into three types of protein products, including soy protein isolates, soya flour, and soy protein concentrates. The soya protein ingredient offers almost all the types of amino acids required in the human body.
The growing technological advancements in the food and beverage sector are the primary reason for the growth of the global soy protein concentrate market. Furthermore, there is high demand for low-cost natural sources in the market to improvise products in the food and beverage sector to provide essential nutrients required for the human body. The soya protein concentrates are widely utilized in various meat breakfast, cereal, and baked food products. These concentrates are also utilized in poultry products to enhance the nutrition value owing to their easily digestible nature. Such products are well suited for the elderly population, pregnant women, and children. The surging health consciousness among consumers is likely to boost the growth of the global market in the forthcoming years. Manufacturers are fueling their research and development activities in order to launch innovative products in the market.
The global soy protein concentrate market can be segmented into application, type, and region.
By application, the market can be segmented into infant foods, dairy products, functional foods, bakery products, confectionery, and others.
By type, the market can be segmented into soy flour, protein isolates, whey protein concentrates, and others.
North America accounts for the largest share in the global soy protein concentrate market due to the rapidly proliferating food and beverage sector in the region. Furthermore, the presence of prominent market leaders in the region will escalate the growth of the regional market.
Asia Pacific is expected to witness a significant growth rate in forthcoming years due to the growing disposable income of the people in the region. Moreover, the growing health awareness among people regarding their daily nutrition intake is likely to promulgate the growth of the regional market.
Some of the global soy protein concentrate market are NOW Foods, Euroduna Food Ingredients GmbH, The Scoular Company, Royal Ingredients Group, Farbest Brands, FUJI OIL CO., LTD., Wilmar International Ltd., BASF SE, Cargill, Incorporated, Archer Daniels Midland Company, and DuPont de Nemours, Inc. To cite, Archer Daniels Midland Company in July 2017 introduced a new soy processing plant in Germany to widen its network in Europe.