Asia Pacific Soy Protein Ingredients Market

Asia Pacific Soy Protein Ingredients Market  Size and Growth Analysis:

Asia Pacific Soy Protein Ingredients Market was worth USD 1.42 billion in 2022 and is estimated to be growing at a CAGR of 8.1%, to reach USD 2.09 billion by 2027.

Asia Pacific Soy Protein Ingredients Market Overview:

Soy protein is obtained from soybeans after the extraction of oil. Soy Protein is used for the fortification of many food products and as an alternative to dairy protein. It is extensively used as a meat extender and as a quality substitute for meat. This legume is one of the few plant proteins that contains all the eight essential amino acids. High functional properties of the soy protein ingredient coupled with eco-friendly and natural health benefits are driving the demand for soy protein during the forecast period. Moreover, it is more cost-effective than animal protein and reflects the same protein content. This is expected to enhance the adoption of soy protein across various end-use industries resulting in increasing the shelf life of processed food, so it is also considered the most sustainable protein ingredient. This in turn boosts the market. However, the allergic nature of soy protein ingredients is restraining its growth during the forecast period. Moreover, the negative impact of genetically modified (GM) soy coupled with the availability of various alternatives such as milk proteins, pea protein, and other animal proteins is also affecting the growth of soy protein ingredients in the forecast period.

Asia Pacific Soy Protein Ingredients Market Segmentation:

The market for Soy Protein Ingredients is broadly categorized into

• type

• application

By type, the market is segmented into

• Soy protein isolates

• Soy protein concentrates

• soy flours

Soy protein isolates dominate the market followed by soy protein concentrates.

By application

• Bakery and confectionery

• meat alternatives

• functional foods

• dairy replacement

• infant foods

Asia Pacific Soy Protein Ingredients Market Geographical Analysis

• China

• India

• Japan

• Australia

• South Korea

In Asia pacific region China and India is expected to account for the substantial growth due to increased demand for nutritional food among the consumers.

Asia Pacific Soy Protein Ingredients Market Key players:

1. Archer Daniels Midland (ADM) Company,

2. Dean Foods Company

3. Armor Proteins

4. Gelita Group

5. Bunge Alimentos SA

6. Kerry Ingredients Inc.

7. Burcon NutraScience

8. Cargill Health & Food Technologies

9. Kellogg Company

10. Doves Farm Foods

11. Kraft Foods Group Inc.

12. Manildra Group

13. MGP Ingredients,