Press Release
Press Release
The soy protein ingredient industry is driven by the rising demand for protein diet owing to the increasing consumer inclination towards health and fitness. Soy protein can be really helpful for bodybuilders and fitness enthusiasts, as it accelerates the muscle building process and bulks up the body. In addition to this, the easy availability of clean-labelled soy protein-based products is anticipated to augment the market growth in the forecast period. Furthermore, the growing consumption of nutritional supplements, coupled with the low cost of soy protein is likely to provide impetus to the market growth.
In January 2020, Nestle (OTCMKTS: NSRGY) entered into an agreement with Burcon Nutrascience Corp and Merit Functional Foods Corporation to tailor the plant-based proteins of these companies for use in Nestle food and beverage applications.
In terms of region, the Asia Pacific is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by the growing demand for bakery and confectionery products. This can be attributed to the rising popularity of soy protein-based biscuits and cakes. Additionally, the thriving food and beverage industry in emerging economies of the world is anticipated to further boost the demand for soy protein ingredients in the forecast period.
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The major players in the global soy protein ingredient market are Archer Daniels Midland Company, The Scoular Company, Wilmar International Ltd, FUJI OIL HOLDINGS INC., Sonic Biochem Limited, Farbest-Tallman Foods Corporation, and Foodchem International Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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