According to a new market report published by Credence Research, Inc., “Global Soy Protein Ingredients Market - Growth, Future Prospects, Competitive Analysis, and Forecast 2016 – 2023”, the worldwide soy protein ingredients market was valued at US$ 7.6 Bn in 2015, expanding at a CAGR of 6.3% during the forecast period 2016 to 2023. The soy protein ingredients market is expected to reach US$ 12.2 bn by 2023.
Browse Full Report With TOC: http://www.credenceresearch.com/report/soy-protein-ingredients-market
Nowadays, there is an increased consumer inclination towards protein rich food products. This is attributed to several factors including rising number of diseases, growing number of health conscious consumers, increasing number of affluent consumers and availability of product variants across different food and beverage products. There are basically two types of proteins animal-derived and plant –derived proteins. Owing to increasing inclination of consumers towards healthy and green ingredients, plant-derived proteins are anticipated to surpass the demand for animal-derived proteins demand in the near future. Furthermore, fluctuations in prices have led to shift in consumer preferences for plant proteins. Of varied plant proteins, soy protein is expected to account for significant share in the overall protein ingredients market. This share is attributed to its major application in meat products.
Free Sample Request: http://www.credenceresearch.com/sample-request/58288
Soy protein ingredients are widely used in food and beverage applications including bakery and confectionary, processed meat products, functional foods, dairy replacers, infant foods and others. Of different application, bakery and confectionery segment is expected to dominate the market in terms of revenue share contribution. However, functional food segment is anticipated to record highest growth in the forthcoming years.
Among different regions, North America is anticipated to dominate the market in terms of revenue share contribution, followed by Europe and Asia Pacific. Asia Pacific is expected to record highest CAGR during the forecast period. New product development and rising awareness among consumers regarding health benefits of soy protein ingredients are bolstering the soy protein ingredients market growth in the region.
Some of the prominent players identified in the soy protein ingredients market include Wilmar International Limited, Archer Daniels Midland Company, Cargill, Incorporated, Dupont Nutrition & Health, Kerry Group PLC, CHS Inc., AG Processing Inc., Ruchi Soya Industries and Nisshin Oillio Group, Ltd. Companies are adopting growth strategies such as consolidation activities and entering in long-term contracts with client companies.
Request For Customization: http://www.credenceresearch.com/request-for-customization/58288
Asia Pacific serves as potential market for soy protein ingredients due to increasing consumer inclination towards soy-based products
Awareness among health conscious consumers
New product launches catering to demand for soy-based products especially among vegetarians, owing to demand for protein-rich food products
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.