soy protein concentrate market are forecast to increase rapidly, with a robust 9.2% annual growth rate, reaching $4.5 billion by 2032. Soy is the favored ingredient in animal feed because to its high protein content and essential amino acids, which comprise more than two thirds of the world’s protein concentrates.
The soy protein concentrate market is anticipated to grow rapidly, with sales predicted to reach US$ 4.5 billion by 2032 at a robust compound annual growth rate of around 9.2%. Because of its high concentration of essential amino acids and steady protein content, soy protein concentrate has become more and more popular as a supplement for cattle and poultry diets around the world. Over two thirds of the protein concentrates used in animal feeds come from soy sources worldwide.
A recent estimate by FMI projects that the soy protein concentrate industry will reach US$ 4.5 billion in sales in 2032 and expand rapidly, with a compound annual growth rate (CAGR) of about 9.2% by the end of that year.
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The development of soy protein concentrate has led to an increase in the use of soybeans in the diets of cattle and poultry worldwide. It has been demonstrated to be especially important in animal nutrition since it is a reliable source of protein and contains a high concentration of necessary amino acids. Worldwide, soy accounts for more than two thirds of the protein concentrates used in animal feeds.
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 nutritional makeup of the goods produced by the two processes varies just a little. SPC is more nutrient-dense than soybean meal and contains 3% fewer oligosaccharides and antigenic components.
SPC is a more inexpensive alternative to premium animal proteins found in the diets of calves, piglets, and dogs, such as fishmeal or skim milk powder. On a protein basis, SPC has the potential to replace up to 50% of fishmeal in salmonid diets in aquaculture.
It is becoming evident that soy protein concentrate must be utilised in place of fishmeal and other animal wastes in the rapidly growing aquaculture sector.
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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.
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
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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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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