According to a new study by TMR, soy protein concentrate market sales are estimated to reach ~1.5 Mn metric tons in 2019. The global soy protein concentrate market is projected to record a Y-o-Y growth of ~5% during the forecast period of 2019 to 2029.
Soy protein concentrate plays a vital role in
increasing the nutritional value in food and beverage products. The rising
demand for additional nutritive ingredients in animals and aquaculture is
expected to surge the demand for soy protein concentrate during the forecast
period. Moreover, the production of soy protein concentrate is likely to
witness substantial growth on account of its application as a flavor enhancer
and moisture retainer in processed meat products. However, the arrival of
alternatives such as plant-based protein derivatives is expected to affect the
soy protein concentrate market. APEJ is expected to dominate the global soy
protein concentrate market, followed by Europe and North America, over the
forecast period. The dry form of soy protein concentrate is expected to account
for a major value share as compared to the liquid form in the global soy
protein concentrate market.
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Increasing Preference of Soy
Protein Concentrate in Animal Feed
Aquaculture is identified as one of the
fastest-growing animal agriculture sectors. On account of the rising need to
cultivate healthy species to satisfy the food requirements of the
ever-increasing world population, aquaculture producers are seeking more
nutritive and sustainable aqua-feed. However, the availability of protein-rich
ingredients is a major concern for aqua-feed manufacturers. This is attributed
to the stagnant supply of fishmeal for high-quality aqua-feed, resulting in
inadequacy to meet the demand for the protein needs of the aquaculture
industry. To fulfill the additional requirement of nutrient content of
aqua-feed, soy protein concentrate is proving an excellent choice for
sustainable and renewable protein alternatives. Thus, soy protein concentrate
is expected to provide sustainability for aquatic feed products and reduce the
burden on naturally-available fish meals, thus boosting the growth of the soy
protein concentrate market during the forecast period. In addition, the use of
low-antigen soy protein concentrate to produce plant protein aqua-feed to lower
dependence on fishmeal is expected to fuel demand in the soy protein
concentrate market shortly.
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Use of Soy Protein Concentrate as
a Flavor Enhancer & Moisture Retainer
The soy protein concentrate is anticipated to
witness tremendous growth in food products, as it is being used profoundly to
add flavors. Also, the addition of soy protein concentrate in processed meat
helps improve the moisture retention property, which results in enhanced taste
and prevents meat from shrinking. Thus, it is likely to be used to improve the
texture of meat products. Moreover, soy protein concentrate acts as a natural
fat alternative containing no cholesterol, which is why, it is highly used as
an HVP (Hydrolyzed vegetable protein) for a variety of processed food products
such as sauces, soups, dressings, seasoned snack food, meat products, and
breakfast cereals.
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Global Soy Protein Concentrate
Market: Competitive Landscape
Some of the key players in the global soy protein
concentrate market are Gremount International Company Limited, Archer
Daniels Midland, Cargill Inc., Nordic Soy Oy, Nutra Food Ingredients LLC,
Wirral International, Food Chem International Corporation, Batory Foods,
Euroduna Food Ingredients, CHS Inc., and others.
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TMR
has followed the C19-TREND approach
for conducting a comprehensive analysis on the trends and changes in the food
and beverage sector due to the COVID-19 outbreak. Each factor is analyzed with
scrutiny. These points have been compiled in the report and will assure great
assistance to the stakeholders and CXOs in developing sound business
strategies.
Some
C19-TRENDs that TMR has focused upon while analyzing the food and beverage
sector are as follows:
Culinary Tourism
With
the COVID-19 outbreak limiting the number of traveling and dining opportunities
for individuals, many opt to experience the fun of a restaurant or destination
at the comfort of their homes. Ready-to-drink beverages are being focused upon
to enable the consumers to feel the vibe of a particular destination. This
aspect will churn exponential growth.
Immunity-Boosting Items
A
good immunity can help individuals.
tackle
COVID-19 with ease. Many consumers are switching to immunity-boosting food and
beverage items for improving their resistance against further infections. Many
well-established players are paying attention on launching immunity-rich food
and beverage products. This factor will attract promising revenues
Strengthening of Home Delivery
Mechanisms
Restaurants
and food chains were closed for a substantial time during the lockdown period.
Thus, home delivery of food products, eatables, and groceries became the new
norm. Many people still prefer home delivery due to the fear of not venturing
out. Home deliveries will play a crucial role in increasing the growth
opportunities across the horizon of the food and beverages sector.
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extensive research and analysis capabilities, Transparency Market Research
employs rigorous primary and secondary research techniques to develop
distinctive data sets and research material for business reports.
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