Soy protein ingredients are derived from soybean. These are the isolated products from soybean meals that are dehulled and deflated. These deflated and dehulled products are processed into different types of protein products depending upon the level of protein content in them. The process includes soy protein isolates, soy flour, and soy protein concentrates. Soya protein is among those few products that contain diverse amino acids content for nutrition to the human body and that are very similar to other pulses and legumes. It is considered to be the least expensive source of protein.
Soybean is high in demand as it contains protein, antioxidants, and phytochemicals that are considered excellent health ingredients. Soybean is known to be the only plant that possesses all nine amino acids along with omega-3 and isoflavonoids. There is a surge in demand for soya ingredients in the food and beverage sector exponentially. However, the growing preference for a vegan diet is increasing day by day, thereby to fulfill the protein intake in daily life, people are highly adopting soy protein which is considered as an ideal substitute for egg protein and meat. In the processing sector, soya protein is widely used as a meat extender However, it is also used for the same purpose in functional beverages. Also, the growing demand for nutritional supplements and functional food globally is driving the growth of the global soy protein ingredients market significantly.
The global soy protein ingredients market can be segmented into application, type, and region.
By application, the market can be segmented into infant foods, dairy replacers, functional food meat alternatives, bakery & confectionery, and others. The bakery & confectionery application segment is expected to account for the largest share in the global market. Though, the infant food segment holds hegemony over others due to the surge in demand for these ingredients in the infant food formulations
By type, the market can be segmented into soy protein concentrates, whey protein ingredients, isolates, and others.
Europe accounts for the largest share in the global soy protein ingredients market due to the presence of key leading players in the region. Also, the surging trend of veganism is likely to accentuate the growth of the regional market in the forthcoming years.
Asia Pacific is expected to witness a significant growth rate in forthcoming years due to the growing health awareness among people in the region. Also, the fast proliferating confectionery and baking sector in the region will pose huge demand for these soya ingredients in the coming years.
Some of the significant players in the global soy protein ingredients market are Kraft Foods Group Inc., Doves Farm Foods, Kellogg Company, Ag Processing Inc., Kerry Group Plc, CHS Inc., Wilmar International Limited, Cargill Incorporated, Archer Daniels Midland Company, and Dupont Nutrition And Health. To cite, Archer Daniels Midland in May 2017 magnified its export terminal in Brazil to improve its network in the grain industry in Brazil, thereby also expanding the production of soybean.
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