19.08.2016, 18:20
Organic Soy Protein Market by Type, Application, Form, and by Region
OREANDA-NEWS. Organic Soy Protein Market by Type (Concentrates, Isolates, and Flour), Application (Functional Foods, Infant Formula, Bakery & Confectionery, Meat Alternatives, and Dairy Alternatives), Form (Dry and Liquid), and by Region - Global Forecast to 2021..., Market Research Report: MarketsandMarkets.
The market for organic soy protein is projected to reach USD 500.4 Million by 2021, at a CAGR of about 17.3% from 2016 to 2021. This market is fueled by the growing awareness among consumers toward the health and nutritional benefits of organic foods and the growth of end-use applications of soy protein in the food & beverage industry. Globally, the growth of the functional foods, meat alternatives, and dairy alternatives industries has led to a large-scale adoption of organic soy protein for various applications.
The organic soy protein market is segmented on the basis of type into soy protein concentrates, soy protein isolates, soy protein flour, and others. The isolates segment is projected to grow at a higher rate in terms of value as well as volume during the forecast period. This is attributed to the increasing demand for isolates by soy protein products manufacturers.
On the basis of form, the market is segmented into dry and liquid. The dry segment accounted for the largest market share in 2015. However, the liquid form segment is projected to grow at higher rate during the forecast period due to increasing demand for soymilk. On the basis of application, the market is segmented into functional foods, infant formula, bakery & confectionery, meat alternatives, dairy alternatives, and others. Among these, the dairy alternatives segment is projected to grow at the highest rate during the forecast period. The functional foods segment dominated the organic soy protein market due to high nutritional value of soy protein, which in turn increases the demand for organic soy protein.
The market is segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2015, Europe dominated the global organic soy protein market, in terms of value as well as volume, due to the developed food & beverage industry in the region. It was followed by North America and Asia-Pacific. Asia-Pacific is projected to be the fastest-growing region in the organic soy protein market, in terms of value and volume, during the forecast period. North America is projected to be the second-fastest growing market. These two regions are projected to be primary revenue pockets for the organic soy protein market due to the continuous increase in demand for organic soy protein owing to the increased demand from different end-use applications.
The high nutritional value, multi-functionality, and applications of organic soy protein, coupled with the growing demand from the food & beverage industry, drive the organic soy protein market. However, the high cost of organic foods is restraining the market.
The organic soy protein market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted expansions as their preferred growth strategy. Key players such as Harvest Innovations (U.S.), World Food Processing (U.S.), Devansoy Inc. (U.S.), The Scoular Company (U.S.), and SunOpta Inc. (Canada) have been profiled in the report. Other players include FRANK Food Products (Netherlands), Hodgson Mill (U.S.), Agrawal Oil & BioCheam (India), Biopress S.A.S. (France), and Natural Products, Inc. (U.S.).
The market for organic soy protein is projected to reach USD 500.4 Million by 2021, at a CAGR of about 17.3% from 2016 to 2021. This market is fueled by the growing awareness among consumers toward the health and nutritional benefits of organic foods and the growth of end-use applications of soy protein in the food & beverage industry. Globally, the growth of the functional foods, meat alternatives, and dairy alternatives industries has led to a large-scale adoption of organic soy protein for various applications.
The organic soy protein market is segmented on the basis of type into soy protein concentrates, soy protein isolates, soy protein flour, and others. The isolates segment is projected to grow at a higher rate in terms of value as well as volume during the forecast period. This is attributed to the increasing demand for isolates by soy protein products manufacturers.
On the basis of form, the market is segmented into dry and liquid. The dry segment accounted for the largest market share in 2015. However, the liquid form segment is projected to grow at higher rate during the forecast period due to increasing demand for soymilk. On the basis of application, the market is segmented into functional foods, infant formula, bakery & confectionery, meat alternatives, dairy alternatives, and others. Among these, the dairy alternatives segment is projected to grow at the highest rate during the forecast period. The functional foods segment dominated the organic soy protein market due to high nutritional value of soy protein, which in turn increases the demand for organic soy protein.
The market is segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2015, Europe dominated the global organic soy protein market, in terms of value as well as volume, due to the developed food & beverage industry in the region. It was followed by North America and Asia-Pacific. Asia-Pacific is projected to be the fastest-growing region in the organic soy protein market, in terms of value and volume, during the forecast period. North America is projected to be the second-fastest growing market. These two regions are projected to be primary revenue pockets for the organic soy protein market due to the continuous increase in demand for organic soy protein owing to the increased demand from different end-use applications.
The high nutritional value, multi-functionality, and applications of organic soy protein, coupled with the growing demand from the food & beverage industry, drive the organic soy protein market. However, the high cost of organic foods is restraining the market.
The organic soy protein market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted expansions as their preferred growth strategy. Key players such as Harvest Innovations (U.S.), World Food Processing (U.S.), Devansoy Inc. (U.S.), The Scoular Company (U.S.), and SunOpta Inc. (Canada) have been profiled in the report. Other players include FRANK Food Products (Netherlands), Hodgson Mill (U.S.), Agrawal Oil & BioCheam (India), Biopress S.A.S. (France), and Natural Products, Inc. (U.S.).
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