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Increasing Demand for Functional Foods to Propel Global Soy Protein Market
Published : 2016-12-09

The global market for soy proteins is pacing through a decent growth route. This is being clearly swayed by the increasing alertness amongst consumers as regards to the health profits of soy protein, and its rising set of uses. The global soy protein market is stalled due to the decrease in the source of raw material. This has occasioned in a significant disproportion between supply and demand in the global soy protein market. The market is anticipated to display a robust 5.5% CAGR over the period between 2016 and 2024, mounting to an estimation of US$7.78 billion by 2024.

Functional foods are being progressively considered as diet alternatives that can recompense on the neglected dose of nutrition in daily intakes due to busy lifestyles and high intake of diet foods. The growing demand for functional foods and the amplified usage of soy protein in such foods is a major factor anticipated to have a positive impression on the global soy protein market in the coming few years. The escalating use of soy protein in functional foods such as meat substitutes, animal feed, dairy alternatives, and infant formulas is likely to endow the global soy protein market significant impetus in the upcoming years.

Snowballing curiosity of buyers to implement a well lifestyle with emergent trends of using functional foods and nutritional supplements to their diet is forcing the demand for soy protein ingredients. Furthermore, its useful assets impart it features that discovers miscellaneous use as gel, tenderizer, stabilizer, emulsifier, binder, and thickener in many food sections. Growing accessibility of new sources of plant protein holds a challenge to the soy protein market. Study on allergic effects and anti-nutritional element is being carried out to enable unrestricted soy protein market growth.

The global soy protein market presently gains the maximum share in its complete revenues because of sales across developed economies such as North America and Europe. While the call for soy protein through these regions is projected to stay constant over the coming few years, it will not be as favourable as the demand in Asia Pacific.

Equipped with an expanding pool of population with great buying power and a high level of cognizance about the necessity of consuming the essential level of protein on everyday basis to sustain a healthy lifestyle, the market for soy protein in Asia Pacific is projected to observe healthy growth in the forthcoming years. The booming food and beverages industry through Asia Pacific will also give a colossal lift to the growing scenarios of the region’s soy protein market in the near future. 

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