NEW YORK, Feb. 13, 2019 /PRNewswire/ -- A recent report published by Persistence Market Research, titled 'Soy Protein Market: Global Industry Analysis 2013–2018 and Forecast 2019–2027', states that, by the end of 2018, the soy protein market is expected to be valued as US$ 5,050.1 Mn in terms of sales revenue. The market is expected to reach US$ 7,794.1 Mn by the end of 2027 in terms of value. From the estimated year (2018) to the forecasted year (2027), the overall global soy protein market is expected to grow at a CAGR of 5.0% in terms of value.
High Demand for Soy Protein as a Nutritional Supplement Expected to Drive Growth of the Global Market
There is rigid fragmentation and competition in the global soy protein market. The nutritional supplements segment, under end use of soy protein, is expected to hold a prominent market share in terms of both, value and volume, throughout the forecast period (2019–2027), in the global soy protein market, when compared to the other segments such as bakery and confectionary, functional food, functional beverages, meat additives, pharmaceuticals, animal feed, and others. The demand for soy protein is expected to observe a significant increase in terms of both, value and volume, throughout the forecast period (2019–2027), in the global soy protein market, due to an increase in the consumption of nutritional supplements in various developed and developing regions and countries.
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There are a number of organized players present in the soy protein market, owing to the increased competition. This is one factor that is helping accelerate the development of various innovative and novel products in the soy protein market. It is also a major factor that is expected to push the growth of the soy protein market in terms of both, value and volume, throughout the forecast period (2019–2027).
North America to Remain Dominant Region in the Global Soy Protein Market
By region, North America is expected to hold a relatively high market share of 42.5% in terms of value by the end of 2018 in the global soy protein market. The region's market share is expected to fall to 39.2% in terms of value by the end of 2027 in the soy protein market. Followed by North America, Europe is expected to hold the second-largest market share of 26.6% in terms of value throughout the forecast period in the global soy protein market. This region's market share is expected to decrease to 26.1% in terms of value by the end of 2027 in the overall global soy protein market. Followed by Europe, APAC (Asia Pacific) is expected to hold a significant market share in terms of both, volume and value, throughout the forecast period, in the overall global soy protein market.
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Concentrates Segment Expected to Remain Prominent in the Soy Protein Market
By form, the concentrates segment is expected to hold a significant market share of 54.7% by the end of 2018, in terms of value, in the global soy protein market, and is expected to remain dominant throughout the forecast period, with a market share of 54.3%. Followed by the concentrates form, the isolates form segment is expected to hold the second-largest market share of 32.0% by the end of 2018, and is expected to hold this share by the end of 2027 in terms of value in the overall global soy protein market.
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Key Producers of Soy Protein
Some of the key players included in the soy protein market report are Glanbia Plc, Cargill Incorporated, E.I. du Pont de Nemours & Co., Cosucra Groupe Warcoing, Archer Daniels Midland Co., AGT Food & Ingredients, Inc., CHS Inc., Ingredion Inc., The Scoular Company, Wilmar International Ltd., Batory Foods, Devansoy Inc., Crown Soya Protein, Fuji Oil Holdings Inc., Shandong Yuwang Ecological Food Industry Co., Ltd., Ag Processing Inc., Gushen Group Co., Ltd., and Biopress S.A.S., among other soy protein manufacturers.
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The Global Soy Protein Market has been segmented as presented below:
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