Preference for meat and dairy alternatives and the high nutritive value of soy has been a major driver that has contributed to the growth of the market.
Northrook, IL -- (SBWIRE) -- 11/25/2019 -- The soy protein ingredients market is projected to grow at a CAGR of 7.2% from 2017 to 2022. Being a cheaper source of protein, a preferred alternative to meat and dairy proteins, and the rich nutritive value of soy are the major drivers contributing to the growth of the market. The key market players have adopted strategies such as agreements, expansions, and new product launches to expand their share in the soy proteins ingredients market. The key players who adopted these strategies are Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Cargill (U.S.), CHS Inc. (U.S.), Kerry Group plc (Ireland), Wilmar International Limited (Singapore), Nisshin OilliO Group, Ltd. (Japan), Ruchi Soya Industries Limited (India), Ag Processing Inc (U.S.), Devansoy (U.S.), The Scoular Company (U.S.), and Biopress S.A.S. (France).
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Archer Daniels Midland Company (U.S.)
Archer Daniels Midland Company (ADM) is a key player in the agriculture and food processing industry. It is engaged in the production of food ingredients, animal feed & feed ingredients, and biofuels. Its three business segments include oilseed processing, corn processing, and agricultural services. In the soy protein ingredients market, ADM has a strong presence in Europe and North America.
It strives to enter and expand its business in the organic soy proteins segment as well through efficient research & development, which has helped the company to offer innovative products to enhance its product line. This has resulted in sufficient profit generation. Additionally, its expansion and investment strategies have helped it to maintain its market position among competitors. For instance, in July 2017, the company set up a new soy processing plant in Germany in order to expand its network in the European region.
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E. I. du Pont de Nemours and Company (U.S.)
E. I. du Pont de Nemours and Company (DuPont) is a conglomerate that serves several industrial verticals such as agriculture, food & beverage, automotive, mining, packaging & printing, energy, electronics, and building & construction among others. Soy protein ingredients are offered in the food segment of the company. It offers soy protein concentrates and isolates which find application in the food and feed industries.
DuPont invests in research & development to introduce new and innovative products in the market. For instance, it launched SUPRO XT 55, an isolated soy protein in protein beverages in April 2017.