New York, NY, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Organic Soy Protein Market By Type (Concentrates, Isolates, and Flour), By Product Form (Liquid and Dry), and By Application (Bakery & Confectionery, Infant Formula, Meat Alternatives, Dairy Alternatives, and Functional Foods): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024”. According to the report, the global organic soy protein market was valued at around USD 270 million in 2017 and is expected to reach approximately USD 770 million by 2024, growing at a CAGR of around 16.4% between 2018 and 2024.
The protein extracted from soybean is known as organic soy protein. Soybean is a protein-rich legume with relatively low-fat content. For manufacturing soy protein, soybeans are then grounded into a meal, comprising no fats or hulls. The soybean meal is then converted into soy protein. Soy protein isolates contain approximately 90–95% proteins. The soy protein isolates are then sold in a powdered form that is rich in proteins and low in carbs. Moreover, additional nutrients can also be added to improve its nutritional value, texture, and taste. Soy protein offers all amino acids required for one’s healthy growth. Organic soy proteins are primarily used for their functional effects and nutritional properties under the normal dietary intake. Well-processed soy protein ingredients are good proteins for humans. Soybean proteins are used in human foods in varied forms, including infant formulas, flours, protein isolates, and concentrates, and textured fibers.
Browse through 54 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Organic Soy Protein Market Size & Share: Industry Forecast, 2017–2024”.
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The global organic soy protein market is likely to grow significantly in the future, due to the increased consumption of functional foods and healthy food products. Moreover, the rapid expansion of various end-use industries, such as bakery and confectionery, alternative dairy and meat products, and functional foods, is estimated to propel the expansion of the organic soy protein market in the upcoming years. Huge consumption of soy protein owing to its health benefits associated, changing lifestyles, and rising middle-class population are the key factors predicted to further drive the demand for organic soy protein products in the forecast timeframe.
By product type, the organic soy protein market includes concentrates, isolates, and flour. Increasing demand for food processing activities and rising demand for soy flour in cookies, bread, pasta, cakes, soups, and related products are expected to drive the flour segment of this market in the near future. The availability of varied brands in the market is estimated to fuel the isolates segment. Evolving production methods and the rising number of manufacturers are estimated to boost the concentrates segment. By product form, this market is bifurcated into liquid and dry forms. By application, the market is segmented into functional foods, bakery and confectionery, meat alternatives, infant formula, and dairy alternatives. Bakery and confectionery sector accounted for a major market share in 2017. The replacement of cow milk proteins with soy protein isolates formula is estimated to drive the demand for soy protein for the development of infant formula in the upcoming years. Improved lifestyles coupled with evolving dietary patterns are projected to enhance the growth of the dairy and meat alternatives.
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Currently, North America is dominating the global market for organic soy protein and likely to continue its dominance in the upcoming years. This is due to the rising consumer preference for healthy diets, increasing adoption of soy-rich food products in a regular diet as a substitute to animal proteins, incorporating well-balanced and innovative diets, and growing number of research and development activities in the area of soy protein isolation and processing activities.
In Europe, the organic soy protein market is estimated to grow considerably with the notably regional presence of functional food manufacturers. Majority of European consumers prefer a nutritious diet, owing to increasing stress, insomnia, general sight degeneration, overwork, high/low blood pressure, near-sightedness, snoring, depression, and restlessness. Rising concerns of consumers toward genetically modified foods is demanding alternate options for vegetable protein. Moreover, the soy protein producers in Europe are investing in innovative technologies and machines to enhance the production of soy protein concentrates, isolates, and fibers. This, in turn, is estimated to drive the regional market during the projected time period.
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The Asia Pacific organic soy protein market is expected to register a remarkable rate of growth over the estimated timeframe. This is due to the adoption of healthy lifestyles, including the intake of lactose-free and cholesterol-free diet, which is set to propel the demand for soy protein as a plant-based protein source. Moreover, the presence of lactose-intolerant and vegetarian population, rapidly expanding application industries, and increasing awareness about health and nutritional benefits of organic soy protein are projected to further enhance the product consumption in this region over the forecast time period. In China, large soybean planting areas and continuous promotion of non-genetically modified soybean production are estimated to propel the organic soy protein market. Additionally, the growing consumption of organic food products in the population’s daily diet is anticipated to further boost this market’s growth in Japan and India.
In Latin America, the organic soy protein market is slated to register a stable rate of growth over the estimated timeframe. Growing middle-class population and increasing per capita income are projected to propel this regional organic soy protein market in the upcoming years. Changing consumer buying behavior toward functional foods and growing research and development activities witnessed in the soy production domain are predicted to enhance the popularity of organic soy products in the near future. In Brazil, the demand for highly nutritious functional food is fuelled by the increasing number of sports activities.
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Some key players included in this global organic soy protein market report are Omega Protein Corporation, Cargill Health & Food Technologies, SunOpta, Inc., Burcon NutraScience, Armor Proteins, DuPont, Bunge Alimentos S.A., The Scoular Company, George Weston Foods, ADM, MGP Ingredients, Harvest Innovations, Kellogg Company, Kerry Ingredients Inc., Devansoy Inc., Natural Products, Inc., Kraft Foods, Hodgson Mill, World Food Processing, Agrawal Oil & BioChem, Frank Food Products, Dean Foods Company, Gelita Group, Doves Farm Foods, Manildra Group, Biopress S.A.S., and DuPont Agriculture & Nutrition.
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This report segments the global organic soy protein market as follows:
Global Organic Soy Protein Market: Type Segment Analysis
- Concentrates
- Isolates
- Flour
Global Organic Soy Protein Market: Product Form Segment Analysis
- Dry
- Liquid
Global Organic Soy Protein Market: Application Segment Analysis
- Functional foods
- Infant formula
- Bakery and confectionery
- Meat alternatives
- Dairy alternatives
Global Organic Soy Protein Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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