According to a new study by TMR, soy proteinconcentrate market sales are estimated to reach ~1.5 Mn metric tonsin 2019. The global soy protein concentrate market is projected to record aY-o-Y growth of ~5% during the forecast period of 2019 to 2029.
Soy protein concentrate plays a vital role inincreasing the nutritional value in food and beverage products. The risingdemand for additional nutritive ingredients in animals and aquaculture isexpected to surge the demand for soy protein concentrate during the forecastperiod. Moreover, the production of soy protein concentrate is likely towitness substantial growth on account of its application as a flavor enhancerand moisture retainer in processed meat products. However, the arrival ofalternatives such as plant-based protein derivatives is expected to affect thesoy protein concentrate market. APEJ is expected to dominate the global soyprotein concentrate market, followed by Europe and North America, over theforecast period. The dry form of soy protein concentrate is expected to accountfor a major value share as compared to the liquid form in the global soyprotein concentrate market.
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Increasing Preference of SoyProtein Concentrate in Animal Feed
Aquaculture is identified as one of thefastest-growing animal agriculture sectors. On account of the rising need tocultivate healthy species to satisfy the food requirements of theever-increasing world population, aquaculture producers are seeking morenutritive and sustainable aqua-feed. However, the availability of protein-richingredients is a major concern for aqua-feed manufacturers. This is attributedto the stagnant supply of fishmeal for high-quality aqua-feed, resulting ininadequacy to meet the demand for the protein needs of the aquacultureindustry. To fulfill the additional requirement of nutrient content ofaqua-feed, soy protein concentrate is proving an excellent choice forsustainable and renewable protein alternatives. Thus, soy protein concentrate isexpected to provide sustainability for aquatic feed products and reduce theburden on naturally-available fish meals, thus boosting the growth of the soyprotein concentrate market during the forecast period. In addition, the use oflow-antigen soy protein concentrate to produce plant protein aqua-feed to lowerdependence on fishmeal is expected to fuel demand in the soy proteinconcentrate market shortly.
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Use of Soy Protein Concentrate asa Flavor Enhancer & Moisture Retainer
The soy protein concentrate is anticipated towitness tremendous growth in food products, as it is being used profoundly toadd flavors. Also, the addition of soy protein concentrate in processed meathelps improve the moisture retention property, which results in enhanced tasteand prevents meat from shrinking. Thus, it is likely to be used to improve thetexture of meat products. Moreover, soy protein concentrate acts as a naturalfat alternative containing no cholesterol, which is why, it is highly used asan HVP (Hydrolyzed vegetable protein) for a variety of processed food productssuch as sauces, soups, dressings, seasoned snack food, meat products, andbreakfast cereals.
Global Soy Protein ConcentrateMarket: Competitive Landscape
Some of the key players in the global soy proteinconcentrate market are Gremount International Company Limited, ArcherDaniels 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.
