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Increasing demand for protein rich diet to promote growth in the soy protein market over 2018 to 2024
Growing demand for protein rich diet and growing consciousness regarding various benefits of protein, increasing demand for food and beverage industry, raising health and wellness trend, development in technologies such as microencapsulation and growing consumer attention on meat alternatives are driving factors for the growth of soy protein market. Soy protein based nutraceuticals are likely to provide incredible growth opportunities for soy protein ingredients. Growing accessibility of other sources of protein plants, anti-nutritional factors and allergic effects acts as a restrain factors in the growth of soy protein market. Adding functional food and nutritional supplements to diet is the growing trend which will boost the demand for soy protein market globally. Soybean contains essential amino acids and it is one of the few plants that have protein as well. Increasing demand for vegetarian diets, soybean is accepted as an ideal to meat and egg protein. With supportive health claims from the JHCI (Joint Health Claim Initiative), soy proteins are being developed as an essential ingredient in functional foods and nutraceuticals.
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North America to dominate the growth of soy protein market
North America has dominated the growth of soy protein market followed by Europe and Asia Pacific. The growth in this region is due to raising growth of the overall economies and increasing investments by manufactures is fuelling the growth in soy protein market. On the other side Asian market especially China and India are likely to boost the demand for soy protein market over next 6 years due to economic development, growing health awareness, increasing food & beverages industry, growing consciousness for protein rich food, increasing in large amount of vegetarian population, and rapid urbanization.
New Launches to remain key expansion strategies of the leading players in the soy protein market from 2018-2024
Grain traders Archer Daniels Midland Co and Cargill announced a joint venture that will supply soybean meal and oil for customers in Egypt.
On 27 April 2016 Archer Daniels Midland Co (ADM) announced the EMEA launch of SUPERB, a functional soy protein fiber developed to boost protein and fiber content, control moisture retention and improve texture in meat products.
Some of the leading companies in the global soy protein market such as, Archer Daniels Midland Company, Cargill, Incorporated, Kerry Group, E.I. Dupont De Nemours and Company, NOW Foods (NOW Health Group, Inc.), Burcon Nutrascience Corporation, SOTEXPRO SA (a Subsidiary of Gemef Industries), Farbest-Tallman Foods Corporation (Farbest Brands), Wilmar International and CHS Inc.
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The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global soy protein market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of soy protein market.
Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the soy protein market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the soy protein market to understand the present and future trends in this market and formulate their strategies accordingly.