Growing Health Conscious Consumers Propelling The Organic Soy Protein Market
Global Organic Soy Protein Market: Key Highlights
- According to the new market research report “Organic Soy Protein Market by Type (Isolate, Concentrate, Flour, ad Others), by Form (Liquid, Dry), by End-User (Infant Formula, Dairy Alternative, Functional Food, Bakery & Confectionery, and Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global Organic Soy Protein market is estimated to reach USD 5.23 Billion by 2027 at a CAGR of around 8.9% during the review period.
- Increase in improper modern life cycle has given rise to diabetes, obesity, and other chronic diseases has expected to boost the product market growth
- Rising popularity of organic food benefits amongst health conscious people has surged the market growth
- Organic soy protein has been receiving great attention owing to its nutritive value benefits and its function as a meat alternative
- Soy protein being one of the cheapest vegan source of dietary protein with presence of essential amino acid resulted increasing demand from fitness industry as protein supplement
Global Organic Soy Protein Market: Key Market Dynamics
- Increasing health awareness amongst consumers coupled with benefits offered by organic soy protein is expected to propel the market growth
- Increasing vegan population has expected to drive the growth of organic soy protein market
- Increasing availability of artificial soy nourishment sources and competition faced by the organic oilseed products such as flax and sunflower may hinder the growth of the market
Global Organic Soy Protein Market: Regional Overview
Europe is expected to dominate the organic soy protein market during the forecasted period owing to, well-developed food & beverage industry in Europe. According to Food Drink Europe, European Union food and drink industry is the largest manufacturing sector with a turnover of USD 1209.09 Billion in 2018. Thus, awareness regarding benefits offered by organic soy proteins consumer is adopting its use which is in turn expected to drive product growth in the region.
- Asia Pacific
The Asia Pacific is expected to be the fastest-growing region in the organic soy protein market owing to the increasing demand for organic soy protein rapidly. The demand is being attributed by major companies involved in the production of soy products particularly in countries like China and India where demand is high. Rising standard of living, increasing disposable income, rising health-conscious people, and others are some other factors contributing to the growth of the product in the region. Moreover, high-income countries such as Japan have a significant stake in the market for soy protein ingredients, offering attractive prices but with slow growth.
Global Organic Soy Protein Market: Key Players Overview
ADM engaged in innovation and providing with a portfolio of ingredients and solution which meet the demand of customers. The company is a member of more than 200 trade and business associations. ADM offers in industrial fuel, animal nutrition, and food & beverage industries and provides services for farmers, financial and logistics. The company has approximately 500 crop procurement locations, 250 ingredient manufacturing facilities, 38 innovation centers. In October 2017, ADM invested in the expansion of Non-GMO soybean processing capabilities in German facility to meet growing demand across Europe.
- Kerry Inc.:
Kerry Inc. is one of the global leaders in the food & beverage industry with innovations to help consumers feel better, live better, and eat better. The company offers products for dairy, meals, snacks, bakery, beverage, pharma & biotechnology, animal & pet, and meat, protein & plant protein application. Kerry Inc. has a global presence in more than 30 countries across the six continents, and manufacturing networks in more than 100 locations across the globe.
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