Asia-Pacific soy protein ingredients market is anticipated to register a CAGR of 8.23%, during the forecast period (2019 - 2024).
Key Highlights
- The market growth for soy protein ingredients in Asia-Pacific is facilitated by accumulating scientific evidence of various health benefits of soy protein, over animal-based protein counterparts.
- Soy protein isolates and concentrates are the most eminent forms of soy protein and contains 90% and 70% protein content, respectively. The high functional property of soy protein and its natural health benefit are boosting its market growth. There is an increase in the adoption of soy protein across several end-user industries, owing to its high sustainability.
Key Market Trends
Increasing Demand for Plant-based Protein Products
The growing population in Asia-Pacific presents a huge opportunity in the form of a large consumer base, which is adopting a healthier lifestyle. Increased sources of information are aiding in spreading awareness about health benefits of soy, which is resulting in the speedy adoption of soy ingredients in their day to day life. Additionally, the growing sports & nutrition and food & beverage sector in the Asia-Pacific region has also increased demand for soy protein ingredients. A large population in this region is lactose intolerant, and non-milk-based ingredients and products posses huge potential in this market.
Japan holds the Largest Market Share in Asia-Pacific Soy Protein Ingredients Market
The Asia-Pacific soy protein ingredients market witnessed rapid evolvement in both developed and developing countries, as it has a huge potential for more protein consumption through packaged foods and drinks. The consumption pattern for the entire region is dependent on the income and spending patterns of the population. High income countries, like Japan has a major share in the soy protein ingredients market as it offers attractive prices, but slow growth. Further, the developing nations, like India, has huge potential for soy protein ingredients market, owing to increasing disposable income and growing health awareness.
Competitive Landscape
Some of the major players in soy protein ingredients market in Asia-Pacific are ADM, Cargill, CHS, Dupont, Linyi Shansong Biological Products Co., Ltd, Kerry Group, Sinoglory Enterprise Group, Sojaprotein Soy Protein Concentrates, Sonic Biochem Extractions Ltd (Protein), among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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