Soy Protein Market Size To Grow At A CAGR Of 7.0% In The Forecast Period Of 2023-2028

SHERIDAN, WYOMING, UNITED STATES, August 31, 2023/EINPresswire.com/ -- Soy Protein Market Outlook

According to a new report by Expert Market Research titled, “Global Soy Protein Market Size, Share, Analysis, Report and Forecast 2023-2028″, the global soy protein market is projected to grow at a CAGR of 7.0% between 2023 and 2028. Aided by the rising demand for protein-dense food items and the growing applications of soy protein in various sectors, the market is expected to grow significantly by 2028.

Soy protein, a protein derived from soybeans, is widely utilised as a food ingredient in a variety of goods, including dairy substitutes for meat, meat substitutes for eggs, infant formula, bakery goods, and dietary supplements. It is important for overall health, muscle growth, and tissue healing. Soy protein is a popular component in a variety of commercial applications, including food and drinks, animal feed, and cosmetics, due to its superior emulsifying, stabilising, and texturising qualities.

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The growing consumer inclination for protein-rich food products is stimulating the global soy protein market growth. There has been a significant shift towards high-protein diets as a result of growing awareness of the health advantages of protein consumption, which has led to an increase in demand for goods containing soy protein. Furthermore, the growing popularity of health and wellness has increased the demand for soy protein, which is a crucial component of the protein supplements that athletes and fitness enthusiasts use.

The wide-ranging applications of soy protein in diverse industries is also contributing to the soy protein market expansion. Soy protein is an essential source of protein for cattle in the animal feed business. Due to its ability to moisturise and condition skin, soy protein is used extensively in the beauty sector to create a variety of skincare products.

Additionally, there is a greater emphasis on soy protein as a functional ingredient for plant-based goods as a result of the growing demand for plant-based alternatives in the food and beverage industry. With the rise of veganism and the popularity of plant-based diets, soy protein has become a crucial ingredient in the development of meat- and dairy-free substitutes, which has fuelled the soy protein market expansion.

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Soy Protein Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

Isolate
Concentrate
Textured Soy Protein

Market Breakup by Application

Bakery and Confectionery
Functional Foods
Pharmaceuticals
Meat Additives
Feed
Others

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global soy protein companies. Some of the major key players explored in the report by Expert Market Research are as follows:

Cargill, Incorporated
Wilmar International Limited
CHS Inc.
Nutrition & Biosciences
Archer Daniels Midland Company
Others

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