Soy Protein Concentrate - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Soy Protein Concentrate market is accounted for $2.20 billion in 2019 and is expected to reach $3.72 billion by 2027 growing at a CAGR of 6.8% during the forecast period. Some of the key factors propelling the market growth include increasing technological advancement in food industries, rise in consumer health consciousness, demand for low cost and natural sources in food manufacturing and increasing animal feed industries. However, anti-nutritional components of soy protein are restraining the market growth.
Soy protein concentrate (SPC) is about 70% soy protein and is basically defatted soy flour without the water-soluble carbohydrates. It is made by removing part of the carbohydrates (soluble sugars) from dehulled and defatted soybeans. SPC has improved flavor characteristics compared to soy flour, and is used for a wide variety of applications in the food industry, especially with meat processing. SPC is also used as a source for high quality protein in milk, fish and meat analogs, and animal feeds.
By application, animal feed segment is expected to witness a significant growth over forecast timeframe owing to increasing animal feed industries and health consciousness among consumers. These products are widely used in various animal feeds to improve nutritional values. In aquaculture industries, soy protein concentrate is increasingly used as an alternative to fishmeal. Many fish feed manufacturers are now utilizing SPC on account of its inherent productive advantages, thereby driving the soy protein concentrate market size.
On the basis of geography, North America, led by Canada and the U.S. soy protein concentrate market demand may witness a significant growth due to increasing consumer preference towards healthy foods and rise in high living standard. Increase in animal feed industry on account of extensive meat products demand from cattle, poultry, and swine. Strong economic foothold along with consumer hectic schedule should propel industry growth.
Some of the key players in soy protein concentrate market include DuPont, Archer Daniels Midland, Cargill Inc., Wirmal International, Akola Chemicals, Shandong Wonderful Industrial Group, Goldensea Industry, Shandong Yuxin Bio-Tech, Batory Foods, Nordic Soy Oy, Nutra Food Ingredients LLC, Food Chem International Corporation, Gremount International Company Limited, Euroduna Food Ingredients, CHS Inc., Gushen Biological Technology Group, Yuwang Group, Tiancheng Agricultural Development Group, and MECAGROUP.
• Fat & Water Absorption
• Bakery & Confectionary
• Animal Feed
• Meat Processing
• Functional Food
• Dairy Products
Product Types Covered:
• Heat Denaturation Process
• Aqueous Alcohol Washing Process
• Acid Washing Process
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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