Dry Soy Protein Hydrolysates to be most Demanded, Capturing over 4/5th of Global Revenue: Fact.MR
Published : 25 Nov 2021 Industry: Food & Beverage
A recently published report by Fact.MR reveals that the global soy protein hydrolysate market is projected to grow at a modest CAGR of 5% during the forecast period (2021-2031), surpassing nearly US$ 1.864 Bn by 2031. Increasing application of soy protein hydrolysate in functional foods has been instrumental in driving the growth of the market.
Furthermore, the growing demand for food products that have high nutrient content and fat & water absorption properties is supporting the consumption of soy protein hydrolysate globally. From 2016 to 2020, the market registered a significant uptick, clocking a CAGR of 4%. The need to boost overall immunity and resilience further augmented demand for soy protein hydrolysates during the COVID-19 pandemic.
There are various health benefits of consuming soy protein hydrolysate. The product can help in increasing immunity and is beneficial in controlling diseases such as diabetes and blood pressure. The popularity of soy protein hydrolysate is growing among athletes and sports personnel as it can be easily digested and provide instant energy.
Key Takeaways from the Market Study
- Global market for soy protein hydrolysate to surpass US$ 1 Bn by 2021-end
- Dry soy protein hydrolysate is expected to retain its top spot, commanding 84% revenue
- By application, functional foods to emerge as the top category, being valued at US$ 261.4 Mn in 2020
- Soy protein hydrolysates to be used primarily as nutrients, registering a CAGR of 5% through 2031
- U.S to be an opportunistic market for soy protein hydrolysate, capturing 1/3rd of global revenue
- China to be the dominant market, yielding a market share worth 45% through 2031
An increasing tilt towards consuming plant-based and naturally sourced proteins is prompting rising consumption of soy-based protein formulations across key foods and beverages, bolstering growth prospects for soy protein hydrolysates, comments an analyst at Fact.MR.
Prominent soy protein hydrolysate players include Archer Daniels Midland, DuPont Nutrition & Health, The Good Scents Company, Abbott Nutritionals, Kerry Group Plc, Friesland Campina, Cargill Inc., Arla Foods, Costantino Special Protein, New Alliance Dye Chem Pvt.Ltd, Solae LLC, and Bunge. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
- In July 2021, Archer Daniels Midland announced the signing of an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients.
- In September 2021, Abbott announced the launch of plant-based protein and organic food ingredients for people who rely on feeding tubes with the relaunch of its PediaSure Harvest and the launch of Ensure Harvest products. The Harvest products are made with organic fruits and vegetables, including pureed mango, spinach, pumpkin, banana, and carrot juice concentrate. Harvest can be used as sole-source nutrition or as a supplement to meet daily nutrition requirements.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the soy protein hydrolysate market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
The global market for soy protein hydrolysate is segmented on the basis of form (dry and liquid), application (functional foods, bakery & confectionery, pharmaceutical, cosmetics & personal care, fertilizers and other applications) and function (nutrients, emulsifier, fat & water absorption, texturants and other functions) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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Nandini Roy Choudhury
Sr. Consultant - Food & Beverages