According to a new study by TMR, soy protein concentrate market salesare estimated to reach ~1.5 Mn metric tons in 2019. Theglobal soy protein concentrate market is projected to record a Y-o-Y growth of ~5% duringthe forecast period of 2019 to 2029.
Soy protein concentrate plays a vital role in increasing the nutritionalvalue in food and beverage products. The rising demand for additional nutritiveingredients in animals and aquaculture is expected to surge the demand for soyprotein concentrate during the forecast period. Moreover, the production of soyprotein concentrate is likely to witness substantial growth on account of itsapplication as a flavor enhancer and moisture retainer in processed meatproducts. However, the arrival of alternatives such as plant-based proteinderivatives is expected to affect the soy protein concentrate market. APEJ isexpected to dominate the global soy protein concentrate market, followed byEurope and North America, over the forecast period. The dry form of soy proteinconcentrate is expected to account for a major value share as compared to theliquid form in the global soy protein concentrate market.
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Increasing Preference of Soy Protein Concentrate inAnimal Feed
Aquaculture is identified as one of the fastest-growing animalagriculture sectors. On account of the rising need to cultivate healthy speciesto satisfy the food requirements of the ever-increasing world population,aquaculture producers are seeking more nutritive and sustainable aqua-feed.However, the availability of protein-rich ingredients is a major concern foraqua-feed manufacturers. This is attributed to the stagnant supply of fishmealfor high-quality aqua-feed, resulting in inadequacy to meet the demand for theprotein needs of the aquaculture industry. To fulfill the additionalrequirement of nutrient content of aqua-feed, soy protein concentrate isproving an excellent choice for sustainable and renewable protein alternatives.Thus, soy protein concentrate is expected to provide sustainability for aquaticfeed products and reduce the burden on naturally-available fish meals, thusboosting the growth of the soy protein concentrate market during the forecastperiod. In addition, the use of low-antigen soy protein concentrate to produceplant protein aqua-feed to lower dependence on fishmeal is expected to fueldemand in the soy protein concentrate market shortly.
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Use of Soy Protein Concentrate as a Flavor Enhancer& Moisture Retainer
The soy protein concentrate is anticipated to witness tremendous growthin food products, as it is being used profoundly to add flavors. Also, theaddition of soy protein concentrate in processed meat helps improve the moistureretention property, which results in enhanced taste and prevents meat fromshrinking. Thus, it is likely to be used to improve the texture of meatproducts. Moreover, soy protein concentrate acts as a natural fat alternativecontaining no cholesterol, which is why, it is highly used as an HVP(Hydrolyzed vegetable protein) for a variety of processed food products such assauces, soups, dressings, seasoned snack food, meat products, and breakfastcereals.
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Global Soy Protein Concentrate Market: CompetitiveLandscape
Some of the key players in the global soy protein concentrate marketare Gremount International Company Limited, Archer Daniels Midland,Cargill Inc., Nordic Soy Oy, Nutra Food Ingredients LLC, Wirral International,Food Chem International Corporation, Batory Foods, Euroduna Food Ingredients,CHS Inc., and others.
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TMR has followedthe C19-TREND approach forconducting a comprehensive analysis on the trends and changes in the food andbeverage sector due to the COVID-19 outbreak. Each factor is analyzed withscrutiny. These points have been compiled in the report and will assure greatassistance to the stakeholders and CXOs in developing sound businessstrategies.
Some C19-TRENDsthat TMR has focused upon while analyzing the food and beverage sector are asfollows:
CulinaryTourism
With theCOVID-19 outbreak limiting the number of traveling and dining opportunities forindividuals, many opt to experience the fun of a restaurant or destination atthe comfort of their homes. Ready-to-drink beverages are being focused upon toenable the consumers to feel the vibe of a particular destination. This aspectwill churn exponential growth.
Immunity-BoostingItems
A good immunitycan help individuals.
tackle COVID-19with ease. Many consumers are switching to immunity-boosting food and beverageitems for improving their resistance against further infections. Manywell-established players are paying attention on launching immunity-rich foodand beverage products. This factor will attract promising revenues
Strengtheningof Home Delivery Mechanisms
Restaurants andfood chains were closed for a substantial time during the lockdown period.Thus, home delivery of food products, eatables, and groceries became the newnorm. Many people still prefer home delivery due to the fear of not venturingout. Home deliveries will play a crucial role in increasing the growthopportunities across the horizon of the food and beverages sector.
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