According to the recent report publish by FMI, the sales for soy protein concentrate market are expected to cross a value of USD 4.5 Billion in 2032 & significantly rising at a CAGR of around 9.2% in the end of 2032.
In animal and poultry diets around the world, the use of soybeans has increased thanks to the introduction of soy protein concentrate. It is proving to be particularly important in animal nutrition as a constant source of protein with a high concentration of key amino acids. Soybeans are the source of more than two thirds of the protein concentrates used in animal feeds worldwide.
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Key Takeaways from the Soy Protein Concentrate Market Study:
- Between 2022 and 2032, the North American soy protein concentrate business is expected to grow at a rate of more than 7.8%, owing to increased demand for healthier baked items.
- Asia-Pacific will remain the largest soy protein concentrate market, with sales expected to reach USD 1.8 Bn by the end of 2032.
- By the end of 2032, sales of soy protein concentrate for animal feed are expected to account for more than two-fifths of the soy protein concentrate market.
- The liquid soy protein concentrate segment is predicted to grow at a quicker rate than the dry soy protein concentrate segment through 2032, despite the fact that the former will continue to be more profitable.
- Due to the growing use of soy protein concentrate in the food and beverage industry, the emulsification segment is likely to dominate the European market. The high emulsification qualities also contribute to the dominance.
The two procedures result in slightly different products in terms of their nutritional composition. SPC has a higher nutritional value than soybean meal and less antigenic components and oligosaccharide content (3%) than soybean meal.
SPC offers a more affordable substitute for high-quality animal proteins like skim milk powder or fishmeal in the meals of calves, piglets, and dogs. SPC has the potential to replace up to 50% of fishmeal in salmonid diets in aquaculture on a protein basis.
In the quickly expanding aquaculture industry, it is becoming clear that soy protein concentrate must be used in place of fishmeal and other animal byproducts.
There are three main causes for this: I limited fishmeal production along with an increase in global aquaculture production; (ii) consumer worries about food safety due to dioxin contamination; and (iii) ethical objections to the use of edible protein in animal diets due to population growth worldwide. Consequently, it is expanding the market for soy protein concentrate.
“Key market players are investing much in R&D in order to introduce new products and obtain a competitive advantage. Companies are also pursuing tactics such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.” said a lead analyst at FMI.
Who is winning?
Key players operating in the global soy protein concentrate market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production.
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Some of the leading companies offering soy protein concentrate are:
- DuPont, Cargill
- ADM
- The Vincent Corporation
- Crown Soya
- Wilmar International Ltd
- Nordic Soya Oy
- Incorporated
- Shandong Yuxin Biotechnology Co.
- Batory Foods
Get Valuable Insights into Soy Protein Concentrate Market
FMI, in its new offering, provides an unbiased analysis of soy protein concentrate presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for soy protein concentrate based on form (dry and liquid), by application (food products, beverages, dietary supplements, nutraceuticals, animal feed, cosmetics and personal care, pharmaceuticals, and others), function (emulsification, solubility, water binding, foaming, thickening agent, and others) across five major regions.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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