Description

Soy proteins are derived from soybean after appropriate processing. They are primarily processed into three types of commercial products namely isolates, soy flour and concentrates. Soy protein’s popularity is increasing at a rapid rate due to the health benefits provided by them. They are being used in an extensive range of foods, from breakfast cereals to soups and meat analogs and even in pet foods.

End-User/Technology

The end user is primarily the food industry which produces a variety of food products having proteins like breakfast cereals, infant foods, meat analogs, flour, protein concentrates and so on.
The production method comprises of immobilizing the proteins and leaching with solvents like aqueous alcohol. Depending upon the products’ requirement, the concentration of soy protein in different types of products is achieved through proper refining processes.

Market Dynamics

In today’s world, people are becoming increasingly cognizant regarding their health. Although due to rapid urbanization, there has been an increase in busy schedules and therefore, it is important to have proper intake of nutrients and this purpose is well solved by the soy ingredient products. Also, due to better refining processes, a diverse range of products can now be obtained from soy protein with desired proportions.
Soy proteins are also finding applications into personal care and cosmetics which is a fast-growing industry.

Market Segmentation

The market can be segmented on the basis of various factors. One important factor for segmentation is on the basis of the type of industry like food and beverage industry, infant foods industry, pet foods industry and the cosmetics industry. Another aspect of segmentation is on the basis of their concentration in the product as this determines the processes to be employed.
Finally, the segmentation can be done on the basis of geography as the availability of suitable agricultural produce domestically is also detrimental in usage and acceptance of these products by the people of any particular region.

Regional/Geographic Analysis

The soy protein ingredients market is primarily led by North America and Europe. However, with the increasing incomes, many developing economies, especially in the Asia Pacific region are showing a rapid rise in demand for these products. The key drivers for these markets are the availability and affordability of these products.

Opportunities

The soy protein comprises a diverse range of products and therefore, has the opportunity to grow at a very fast rate. Also, due to the rising population and rising incomes, especially in developing economies of the Asia Pacific region, there is an expectation of positive growth in these regions for this market provided the availability and affordability of the products are enhanced.

Key Players

Some prominent players in the market are Wilmar International Ltd., DuPont Nutrition & Health, Cargill Inc. and Archer Daniels Midland Company.