According to the research report titled ‘Global Soy Protein Concentrate Market Size study, by Type (Soy Isolates, Soy Concentrates and Textured Soy Protein), Application (Bakery & Confectionery, Meat Extenders & Substitutes, Nutritional Supplements and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global soy protein concentrate market was worth USD 3.48 billion in 2019 and is expected to register 6.8% CAGR with a valuation of USD 5.89 billion over 2020-2027.

 

Increasing vegan populace is the major growth catalyst for global soy protein concentrate market, as consumers are widely adopting the product for protein intake as a substitute for meat.

 

As per the 2020 reports by Viva!-The Vegan Charity, a 600% surge in vegan population was observed in the United States in the past three years.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3793429/

 

For the unversed, soy protein concentrate is obtained from defatted and dehulled soybean. The consumption of this product helps the body remain healthy as large amount of proteins are present in the concentrate which serves to be advantageous for every age group.

 

Additionally, affordability, coupled with increasing development of making soy products more flavorful as well as growing end-use industries are boosting worldwide soy protein concentrate market outlook.

 

However, factors such as restriction on genetically modified soy products as well as displeasing flavor of soy products are expected to restrain the global soy protein concentrate market for further growth over the analysis timeframe.
 

In terms of type, the industry is divided into soy concentrates, soy isolates, and textured soy protein. Speaking of application, the market is bifurcated into nutritional supplements, bakery & confectionery, meat extenders & substitutes. and others.
 

From regional point of view, North America held major portion of worldwide soy protein concentrate market share in the recent past, owing to prevalence of obesity which is encouraging individuals to change their diet pattern and improve lifestyle, alongside innovations by the industrialists.
 

Parallelly, Asia Pacific market is expected to record strong growth rate over the analysis timeframe, which is creditable to presence of raw materials, soaring discretionary income, and consumer inclination towards balanced diet.
 

The competitive landscape of global soy protein concentrate industry is defined by companies such as Yuwang Group Sdn Bhd, IMCOPA Food Ingredients BV, Gushen Biological Technology Group Co. Ltd., Tiancheng Agricultural Development Group Co. Ltd, Cargill Inc., Shandong Yuxin Bio-Tech Co. Ltd., Qinhuangdao Goldensea Foodstuffs Industries Co. Ltd., CHS Inc., and The Archer-Daniels-Midland Company among others.