Driving the growth of Soy Protein Market
The global Soy Protein Market is estimated to be valued at US$ 7.51 Bn or Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis: -
· Strengths: - Soy protein provides various health benefits and acts as an alternative to meat protein. It is easily digestible and has no cholesterol.
· Weaknesses: - Soy protein has lower protein quality than meat and dairy proteins. It also has lesser amino acid profile than whey and casein proteins.
· Opportunities: - Growing food & beverage industry and expanding soy applications in various product categories offer significant opportunities. Increasing health & wellness trend also favors market growth.
· Threats: - Presence of substitute plant-based proteins like pea, wheat and rice proteins can hamper the soy protein market.
Key Takeaways: -
The Global Soy Protein Market Growth is expected to witness high, exhibiting a CAGR of 7.3% over the forecast period of 2023 to 2030, due to increasing demand for plant-based protein.
In 2023, the soy protein market size was valued at US$ 7.51 Bn. China dominates the global soy protein market and is projected to grow at the fastest rate during the forecast period. This can be attributed to rising health consciousness and prevalence of flexitarian diets in the region.
Key players operating in the soy protein market are Archer Daniels Midland Company, Cargill Inc., DowDuPont Inc., Imcopa Food Ingredients B.V., CHS Inc., Crown Soya Protein Group, Wilmer International Ltd., Foodchem, Kerry Ingredients Inc., Burcon NutraScience Corporation, and others. Rising investments by key players for new product launches is expected to fuel market growth over the forecast period.
Read More - https://www.feedsfloor.com/other/open-new-avenues-soy-protein-market
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