Transparency Market Research

Impact of COVID-19 on Soy Protein Concentrate Market : Implications on Business

Global Soy Protein Concentrate Market Share, Growth, Trends, and Forecast 2019 - 2029


Albany, NY -- (SBWIRE) -- 03/16/2021 -- Impact of COVID-19 on Soy Protein Concentrate Market : Implications on Business

Soy Protein Concentrate Market - Shift towards Plant-based Protein Sources to Unlock Lucrative Opportunities
As consumers never seem to lose their appetite when it comes to experiencing new flavors and ingredients, stakeholders in the food and beverage industry operate under constant pressure to bring novelty to the plates. To add to that, a radical shift of perspective regarding unhealthy food products further sets the range of innovation for the introduction of new products in the industry.

Soy protein concentrates are one such distinguished offering, resonating with consumers who seek a healthy lifestyle. According to a report published by Transparency Market Research (TMR), the soy protein concentrate market will advance at an average CAGR of ~5% during 2019-2029. The popularity of the 'Paleo diet' is found increasing, given the influence of social media platforms, which will drive consumers towards protein-rich diets. In addition, a drastic increase in the number of vegan and vegetarian followers is highly likely to resort to plant-based sources to suffice their daily protein needs.

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Animal Feeds - A New Growth Catalyzer for Market

Though a huge scope of the soy protein concentrate market is dedicated towards catering to human protein needs, growing focus on the quality of animal food products to improve the food chain is extending frontiers towards animal feed. Being identified as the leading sector in agriculture, aquaculture producers are likely to make huge investments in the soy protein concentrate market. With soy protein concentrate-based feeds, the dependence on naturally-available fishmeal decreases, and aquaculture producers can maximize yield. Besides aquaculture producers, livestock farmers are found to appreciate the health benefits offered by the addition of soy protein concentrate to animal feeds, which is likely to catalyze revenue in the soy protein concentrate market during the forecast period.

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Soy Protein Concentrate Market: Nutrients to Remain Popular Choice

Consumers, especially in developed countries, are observed favoring animal-free protein sources, which primarily shifts the focus on dairy products. However, allergies associated with lactose intolerance as well as from the consumption of gluten-based protein narrow down the options for proteins among the vegan and vegetarian populace, which is projected to augur well for the soy protein concentrate landscape.

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Producers in the bakery & confectionery and meat processing industries prefer the dried form of soy protein concentrate, as it offers better texture to food products. In addition, its longer shelf life and transportation ease further makes it convenient for stakeholders and end-users as compared to the liquid form.

According to the study, soy protein concentrate is used as an emulsifier, texturant, fat and water-absorbing agent, and to enhance the nutritional value of food products. Among these functions, the adoption of soy protein concentrates as nutrients has been growing, on account of their increasing adoption in the animal feed industry. That being said, the sales of these concentrates as nutritional additives are projected to close at ~US$ 2 Bn by the end of 2029.

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