Organic Soy Protein Market worth 500.4 M USD by 2021

Thursday 18 August 2016, Amsterdam

The report, now available on ASDReports, "Organic Soy Protein Market by Type (Concentrates, Isolates, and Flour), Application (Functional Foods, Infant Formula, Bakery & Confectionery, Meat Alternatives, and Dairy Alternatives), Form (Dry and Liquid), and by Region - Global Forecast to 2021", is projected to reach USD 500.4 Million by 2021, at a CAGR of 17.3% between 2016 and 2021.

Dairy alternatives projected to be the fastest-growing application of the organic soy protein market

The dairy alternatives application of organic soy protein is expected to grow at a comparatively higher CAGR than other applications. The dairy alternatives segment is growing due to increasing demand for soymilk from lactose-intolerant consumers and rising awareness about the benefits of organic soy among consumers. The functional foods segment is estimated to lead the market, in terms of value, mainly due to the wide application of organic soy protein in functional foods. It is followed by meat alternatives applications in terms of market size.

Soy protein concentrates projected to be the largest type of organic soy protein market

Soy protein concentrates accounted for the largest market share in the organic soy protein market in 2015, and is projected to be the largest type of organic soy protein from 2016 to 2021. Soy protein concentrates can replace a significant percentage of other proteins in many food products without impacting the color, taste, or texture of the product, at the same time enhancing its nutritional value. Thus, they are widely used as functional or nutritional ingredients in a wide variety of food products, mainly baked foods, breakfast cereals, and in some meat products. Organic soy protein isolates are gaining popularity among food manufacturers due to their clean label and non-allergy properties.

Asia-Pacific projected to be the revenue pocket for the organic soy protein market

Europe was the largest market for organic soy protein in 2015, whereas the Asia-Pacific region is projected to be the fastest-growing market during the forecast period. The region is driven by the increasing consumer awareness towards organic foods and growing end-use applications such as functional foods, dairy alternatives, meat alternatives, infant formula, and bakery & confectionery.

The study includes the profiles of leading companies such as Harvest Innovations (U.S.), World Food Processing (U.S.), Devansoy Inc. (U.S.), The Scoular Company (U.S.), and SunOpta Inc. (Canada). Other players include FRANK Food Products (Netherlands), Hodgson Mill (U.S.), Agrawal Oil & BioCheam (India), Biopress S.A.S. (France), and Natural Products, Inc. (U.S.).