The Soy Protein Market size was USD 10.68 billion in 2020 and is expected to register a revenue CAGR of 7.0% over the forecast period
NEW YORK CITY, NEW YORK, USA, June 23, 2022 /EINPresswire.com/ — The Global Soy Protein Market size is expected to reach USD 18.35 billion in 2028 and register a revenue CAGR of 7.0% over the forecast period, according to a latest report by Reports & Data. Major factors driving market revenue growth are rising awareness regarding the benefits of soy protein, changing consumer perception on nutrition and growing trend of vegan culture owing to health benefits associated with vegan diets.
The rapid increase in health and fitness centers has been resulting in rapid adoption of soy protein globally. Soy protein contains 90% protein that helps to lower blood pressure, boost energy, and has low amounts of saturated fat.
Ongoing research and development activities, various medical & nutrition science research and private investments in the area of soy protein is expected to positively impact revenue growth of the market over the forecast period. For instance, The ICMR, Indian Council of Medical Research suggest that an average adult should consume protein every day between 0.8 to 1g of protein per kg of body weight to maintain a healthy quality of life.
Further, international health organizations and government initiatives to encourage people to intake soy protein has been opening up open new and more lucrative opportunities for players operating in the global soy protein market.
However, allergy concerns, food-borne intolerances and side effects of soy protein are some major factors expected to restrain global soy protein market revenue growth over the forecast period.
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The Soy Protein market investigation report assesses the global market for the Soy Protein industry and provides revenue and capability forecasts for the projected period of 2020-2027. The factors that drive the industry’s growth are highlighted in the report. The report divides the Soy Protein market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry’s major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Soy Protein market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Soy Protein market.
The global Soy Protein market is segmented into:
• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation based on Product Type:
• Soy Protein Concentrates
• Soy Protein Isolates
• Textured Soy Protein
• Soy Flour, Grits, and Chunks
Market Segmentation based on Application:
• Meat Alternatives
• Functional Foods
• Dairy Replacers
• Infant Foods
Key Questions Addressed in the Report:
• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market? What kind of strategic business plans have they made?
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.