Product insights
The soy protein concentrates segment accounted for highest consumption, valued at over 30 % of the overall global demand, in 2015. The major reason for the high consumption is the presence of low cholesterol and saturated fats in these products
The soy protein isolates segment accounted for the second largest share, with a share of 15 % of the overall demand in 2015. These products are primarily used in the processing of meat products and food & beverage industries, comprising 90 % protein content.
Among animal-based products, the whey protein segment accounted for the second-largest share of the consumption volume, accounting for over 15 %.
Regional insights
North America recorded the highest regional demand of over 35 % for the product in 2015. This high share can be attributed to the increasing demand from the pharmaceuticals, food & beverages, and cosmetics industries, coupled with increasing awareness about the health benefits of the products among consumers.
The U. S. market for the product is expected to grow on account of the rising consumption of energy bars, cold cereals, and snacks. Moreover, this trend is expected to continue during the forecast years owing to the changing lifestyles and rising demand for ready-to-eat snacks and supplementary diets.
The economic development and rise in demand for healthier food in the Asia Pacific region, particularly in China, India, South Korea, and South East Asian countries, are expected to fuel the product demand during the forecast period. The low cost of manufacturing, along with the growth of the healthcare, personal care, and food & beverages industries, is expected to drive the growth of the industry in the region, at a CAGR of over 7 %.
Competitive insights
The industry is highly competitive, with the presence of a large number of manufacturers across the globe. The industry is dominated by two key participants, namely, ADM and Cargill, Inc., followed by DuPont, Bunge, and Mead Johnson.