Soy Protein Market Growth, Trends, Analysis and Forecasts To 2024 Soy Protein Market

Global Soy Protein Market: Vendors Oblige to Rising
Demand for Functional Foods, observes TMR
The majority of the global soy protein market in 2015 was taken up by key global players, such as Archer
Daniels Midland Company, CHS, Inc., Cargill, Inc., E.I. du Pont de Nemours and Company, and Willmar
International. At the time, these players had taken up a share of over 66.2% of the global soy protein market,
pointing to a largely consolidated competitive landscape.
By revenue, the global soy protein market was valued at US$4.80 bn in 2015, and is expected to reach
US$7.78 bn by the end of 2024, after displaying at a CAGR of 5.5% within a forecast period from 2016 to
2024. Protein hydrosulfates are expected to increase in demand at a CAGR of 6.7% within the same
forecast period. In terms of volume, this market is expected to reach 2,209.3 kilo tons by the end of 2024.
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Functionality and Health Benefits Stay Consistent Mantras for Soy Protein Vendors
“The single leading driver of the global soy protein market at the moment is the growing number of people
being attracted towards it by the terms functionality and health benefits. Soy proteins appeal to a very large
consumer base, including those that are trying to maintain a low fat diet as well as the growing number of
vegans. Even the FDA supports the moderate consumption of soy proteins, as in an earlier publication they
pointed to the chances of reducing the risk of coronary heart disease by consuming 25 grams of it per day,”
states a TMR analyst.
Additionally, soy protein is also a core part of the growing movement of functional foods. With a greater
number of the urban population finding it difficult to cook food and maintain a balanced diet, the introduction
of functional foods has been very positively received. They are easier to consume and can help an individual
maintain a balanced diet. The global soy protein market is involved in the production of several functional
foods, such as meat and dairy alternatives, and energy bars. The growth rate of the global soy protein
market is also being supplemented by the growing scope of functionality of soy protein products that are
increasing their overall application within the food and beverages industry.
High Disparity between Supply and Demand Noted among Soy Protein Vendors
One of the key problems that the manufacturers and vendors in the global soy protein market are facing at
the moment is a severe shortage in demand. Soybean, the quintessential raw material required for the
various products released from the global soy protein market, is itself a commodity food product. Its price
is also subject to volatility as there is already a high demand for soybeans in the market. This pressurizes
manufacturers in the global soy protein market to compete with a separate section of consumers to gain
more raw material, thereby hindering the overall rate at which the global soy protein market can grow. The
market is also being stifled by the low usage of soy protein products outside the food industry.
“Players in the global soy protein market can look forward to the plethora of opportunities coming up from
the Asia Pacific and Latin America regions. Asia Pacific especially is expected to be a great venue of