Non-GMO Soy Protein Market Set for Healthy Growth Post COVID-19 Pandemic, Plant-based Protein Trend Remains a Turning Point for Manufacturers: Fact.MR
Published : 12 Jun 2020 Industry: Food & Beverage
The non-GMO soy protein market is estimated to be valued at US$ 2.3 Mn in 2020 and grow at a CAGR of nearly 4% during the forecast. A growing number of health conscious consumers inclining towards plant-based protein and aligning with clean label trend are significantly contributing to the non-GMO soy protein market growth.
While COVID-19 crisis has shown minimal effect on the non-GMO soy protein market, it is expected to intensify as the crisis unfolds in key economies and major markets. In contrast, with growing consumer awareness of health boosting products and supplements amid the pandemic, the demand for non-GMO soy protein is expected to show prominent growth during the recovery period. Resumption of work in production facilities in multiple countries such as China is expected to fill the gap between demand and supply of non-GMO soy protein.
Key Takeaways of the Non-GMO Soy Protein Market Study:
- North America accounts for nearly one third share of the global non-GMO soy protein market, and is expected grow 1.3X during the forecast period.
- Non-GMO soy protein concentrates account for 1/3rd of the total market value and are expected to see gradual growth in demand during the forecast period.
- Sales of food grade non-GMO soy protein are expected to show prominent growth and expand 1.4X by 2030 over 2020.
- Application in supplements and neutraceuticals continues to influence manufacturers’ growth strategies and is expected to grow 1.5X by 2030.
“With changing trade agreements, growing preferences for plant-based proteins, and increasing investments in clean labels like non-GMO and organic, the non-GMO soy protein market is expected witness significant revenue growth over the next decade,” says the Fact.MR analyst.
Top Players Prioritize Investments in Increased Production
A slight rift has been noticed in non-GMO soy protein demand and supply in recent years. Companies like Archer Midland Daniels Company have been increasing their production capacities to meet the increasing demand. In 2019, ADM invested in its production capacity of non-GMO soy protein isolate, following a similar upscaling of production in 2017. Such trends among top market players are expected to continue during the forecast with strained trade relations with China. On the backdrop of these factors, the non-GMO soy protein market is expected to approach partial consolidation by end of forecast period.
Find More Valuable Insights on Non-GMO Soy Protein Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global non-GMO soy protein market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the non-GMO soy protein market on the basis of product (soy protein concentrate, soy protein isolate and other products), grade (food grade and feed grade) and applications (bakery and confectionery, meat substitutes, supplements & neutraceuticals, animal feed, and others) across six major regions.
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