Soy Protein Ingredients Market 1
Soy Protein Market Surges: Valued at $9,594.0 million in 2020, projected to reach $15,303.9 million by 2030 with a CAGR of 4.4%.
โ Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE 19801 USA, UNITED STATE, January 14, 2024 /EINPresswire.com/ — The soy protein ingredients market was valued at $9,594.0 million in 2020, and is projected to reach at $15,303.9 million by 2030, registering a CAGR of 4.4% from 2021 to 2030.
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๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
The global soy protein ingredients market, valued at $9,594.0 million in 2020, is set to achieve remarkable growth, reaching $15,303.9 million by 2030, with a robust CAGR of 4.4% from 2021 to 2030. These ingredients, derived from soybeans, undergo defatting and dehulling processes to produce soy protein isolates, soy protein concentrates, and soy flours, all rich in protein, low in carbohydrates, and deemed cost-effective.
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๐๐๐ญ๐จ๐ซ๐ฌ:
The surge in the popularity of vegan diets, attributed to perceived medicinal benefits, such as immunity enhancement and disease risk reduction, is a significant driver. The COVID-19 pandemic has heightened awareness of health, prompting consumers to choose plant-based proteins. Infant foods, utilizing soy protein ingredients for cost-effective and nutritious alternatives, represent a promising market segment.
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
๐๐ฒ ๐๐ฒ๐ฉ๐: The soy protein concentrate segment led the market in 2020 and is expected to maintain dominance, reflecting its economic viability and nutritional profile.
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง: The bakery & confectionery segment holds a prominent position, driven by the increasing use of soy protein ingredients in various products.
๐๐ฒ ๐๐๐ ๐ข๐จ๐ง: North America claimed over 35% of the market share in 2020, followed by Europe and Asia-Pacific.
๐๐๐ซ๐ค๐๐ญ ๐๐ก๐๐ฅ๐ฅ๐๐ง๐ ๐๐ฌ:
Rising costs and potential substitutes pose challenges to market growth. However, ongoing research and development activities aim to create cost-effective, highly nutritious soy protein ingredients, providing growth opportunities.
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๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Major players in the soy protein ingredients market include AG Processing Inc., Archer-Daniels-Midland Company, Cargill, Inc., CHS Inc., Doves Farm Foods Ltd., DuPont, Kerry Group, Kraft Heinz Company, Kellogg Company, and Wilmar International Limited.
๐๐๐ฒ ๐๐๐ง๐๐๐ข๐ญ๐ฌ ๐ ๐จ๐ซ ๐๐ญ๐๐ค๐๐ก๐จ๐ฅ๐๐๐ซ๐ฌ:
Comprehensive analysis of current and emerging market trends and opportunities.
Detailed qualitative and quantitative analysis aiding in evaluating market opportunities.
Market forecast with insights into key drivers, restraints, and opportunities.
In-depth analysis of product positioning and top competitors.
Extensive qualitative insights on potential growth segments or regions.
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The soy protein ingredients market is poised for substantial growth, driven by the increasing popularity of vegan diets, particularly in the wake of the global health crisis. Ongoing research endeavors and a focus on creating cost-effective, nutritious options are expected to fuel further expansion in the coming years. The report provides a comprehensive understanding of market dynamics, making it a valuable resource for stakeholders navigating the evolving landscape of soy protein ingredients.
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Article originally published on www.einpresswire.com as Soy Protein Ingredients Market Set to Expand Significantly, Projected to Reach $15.3 Billion by 2030.