According to the report “Global Organic Soy Protein Market,” published by Market Data Forecast, the market is projected to reach USD 805.82 million by 2021 from USD 375.50 million in 2016, at a CAGR of 16.5% from 2016 to 2021.
Since the 1960s, soy protein products have been used as nutritional and functional food ingredients in every food category available to the consumer. Modern agriculture has led to production of cereal crops sufficient to meet the world food energy requirements for the new century. However, protein supplementation of cereals is desirable in many instances because cereals have low protein contents and are imbalanced in essential amino acid composition. As a result, cereal grains do not supply adequate protein for satisfactory growth of infants and children or for the bodily maintenance of adults. Soybean protein has been the subject of intense investigation and has played an increasing role in human nutrition over the last few decades. Soy protein products are an ideal source of some of the essential amino acids used to complement cereal proteins.
At present, soy proteins are more versatile than many other food proteins in various worldwide nutritional programs. Soybeans have a long history as a protein foodstuff in Asia. Over the centuries Asians have developed a variety of soybean foods, including tofu, shoyu (soy sauce), miso, and tempeh. Processes include cooking, grinding, extracting, fermenting, and sprouting, which are normally employed for the development of these products. Cooking or dry heating destroys the trypsin inhibitor protein, which is difficult to digest. Heat treatment increases the digestibility of the protein and enhances the nutritional quality of soybeans.
Drivers & Restraints
The market for Organic Soy protein is mainly driven with increasing health awareness among the consumers, which is making them shift from dairy products which are rich in fat, to soy products, which are much healthier. Also, the price of Soy products is comparatively cheaper than the other alternatives, which is one of the main reason for the high demand for Soy Protein products in the recent times. But, the high cost involved in the raw material processing and high production cost can dampen the market growth.
Overview
Soy protein concentrates can replace a significant percentage of other proteins in many food products without impacting the color, taste, or texture of the product, at the same time enhancing its nutritional value. Thus, they are widely used as functional or nutritional ingredients in a wide variety of food products, mainly baked foods, breakfast cereals, and in some meat products. Organic soy protein isolates are gaining popularity among food manufacturers due to their clean label and non-allergy properties.
The dairy alternatives application of organic soy protein is expected to grow at a comparatively higher CAGR than other applications. The dairy alternatives segment is growing due to increasing demand for soymilk from lactose-intolerant consumers and rising awareness about the benefits of organic soy among consumers. The functional foods segment is estimated to lead the market, in terms of value, mainly due to the wide application of organic soy protein in functional foods. It is followed by meat alternatives applications in terms of market size.
Region-wise outlook
Geographically, Global market for Organic Soy Protein is segmented into North America, Asia Pacific, Latin America, Europe, and Africa & Middle-East. Europe leads the market contribution with over 33% market share, due to high demand for Soy Products in the European nations. This is followed by North America, which is also indulging in shift to Soy from Dairy products. Asia-Pacific region is showing the fastest growth, with Soy gaining a great popularity due to which the demand is increasing rapidly.
Key Players
The major players in this market include Harvest Innovations, Agrawal Oil & Biochem, Frank Food Products, The Scoular Company, Devansoy Inc., Biopress S.A.S., Natural Products Inc., Hodgson Mill, SunOpta, Inc., and World Food Processing.
This report contains global, regional and country-level analysis and forecasts of the study market, providing Insights on the geographical areas in which this industry is prospering; segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail; identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
Source : https://www.foodexecutive.it/en/marketing/2680-organic-soy-protein-market.html