Europe Soy Protein Ingredients Market Outlook 2031:
The Europe soy protein ingredients market size was valued at USD 3.07 Billion in 2022 and is projected to reach USD 5.60 Billion by 2031, expanding at a CAGR of 6.9% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing population adopting vegetarian and vegan products in their daily diet.
Soy protein ingredients are made from soybean. Dehulled and defatted soybean are made into three types of protein products, namely soy flour, soy protein concentrates, and soy protein isolates. Almost all types of amino acids are provided by soy protein ingredients, which are essential for human nutrition and are the same as other legume pulses and are one of the cheapest sources of protein.
The COVID-19 pandemic negatively impacted the growth of the soy protein ingredients market. However, the relaxation in restriction in the manufacturing facilities is estimated to recover by end of 2021.
Soy Protein Ingredients Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for plant-based protein from vegan population is fueling the growth of the market.
- Growing utilization of soy proteins in wide range of products is anticipated to positively influencing the demand for soy protein ingredients.
- Low cost and high nutritional value are the major factors contributing to the growth of the soy protein market.
- Unpleasant flavor of soy proteins is making it undesirable for consumption in consumers, which can act as a restrain to the growth of the market.
- Increasing demand for cholesterol-free products is expected to contribute to the growth of the market during the forecast period.
Scope of the Soy Protein Ingredients Market Report
The report on the Europe soy protein ingredients market includes an assessment of the market, trends, segments, and Geography markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Europe Soy Protein Ingredients market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types, (Soy Isolates, Soy Concentrate and Textured Soy Protein) and Applications (Bakery and Confectionery, Meat Extenders and Substitutes, Nutritional Supplements, Beverages, and Others)
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Geography Scope
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The UK, Germany, Italy, France, the Netherlands, and Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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DowDuPont Inc; Archer Daniels Midland Company; Scoular Company; and Cargill Inc.
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Europe Soy protein ingredients Market Segment Insights
Soy isolates segment is expected to grow at a robust pace
Based on types, the market is segregated into soy isolates, soy concentrate, and textured soy protein. The soy isolates segment is anticipated to account for a significant market share during the forecast period. Soy protein isolates are used for high dissolution in milk beverages and are considered a premium ingredient.
Advantages of soy protein isolates include fat-free content, bland taste, and high amount of fiber. However, the soy isolates segment is anticipated to hold a key share of the market in the coming years due to increasing demand for the nutrition industry.
Beverages segment is projected to dominate the market
Based on applications, the Europe soy protein ingredients market is segregated into bakery and confectionery, meat extenders and substitutes, nutritional supplements, beverages, and others.
The beverages segment is projected to expand at a considerable CAGR during the forecast period. Developing awareness and interest for protein-rich food items and rising clean label trend are major factors further spurring the segment growth.
The Europe to constitute a considerable market share
In terms of geography, the market is classified as the UK, Germany, Italy, France, the Netherlands, and the Rest of Europe. The UK is anticipated to account for a significant market share during the forecast period. Increasing customer interest for plant-based proteins is estimated to spur the market growth in the region.
Moreover, rising prevalence of lactose intolerance in the UK is further driving the country’s market growth. The market in Germany is expected to exhibit a robust CAGR during the forecast period owing to the increasing demand for dietary supplements in the region.
Segments
The Europe soy protein ingredients market has been segmented on the basis of
Types
- Soy Isolates
- Soy Concentrate
- Textured Soy Protein
Applications
- Bakery and Confectionery
- Meat Extenders and Substitutes
- Nutritional Supplements
- Beverages
- Others
Geography
- The UK
- Germany
- Italy
- France
- Netherlands
- Rest of Europe
Key Players
Competitive Landscape
Key players competing in the Europe soy protein ingredients market DowDuPont Inc; Archer Daniels Midland Company; Scoular Company; and Cargill Inc.
Companies are engaging in partnerships, acquisitions, and mergers to expand their market share.
Moreover, they’re investing in R&D activities to provide high-quality products to the clients.
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