Global soy protein concentrate market was valued at 1533 Million US$ in 2018 and is projected to reach 1976 Million US$ by 2024
Soy protein concentrate is made by removing a portion of the carbohydrates (sugars) from dehulled and defatted soybeans. It is used in meat, baked goods, ice cream, sweets, drinks, feed industry.
The global market for soy protein concentrate has been expanding at a steady pace over the years owing to the consistent demand arising from various end-use industries. The growing applications of soy protein concentrate in the meat, baked goods, ice cream, sweets, drinks, feed industries are likely to continue driving the demand for the same over the course of the forecast period.
Global soy protein concentrate market
was valued at 1533 Million US$ in 2018 and is projected to reach 1976 Million US$ by 2024, at a CAGR of 4.32% during the forecast period.
Soy protein concentrate plays an important role in a wide range of end-use industries such as meat, baked goods, ice cream, sweets, drinks, and feed. By application, meat was the leading end-use segment in the global soy protein concentrate market, constituting more than 41% in 2015. Baked goods take the market share of about 25% in 2015. Others take the market share of about 34% in 2015.
Key players in global soy protein concentrate market include: ADM, Sojaprotein, DuPont, IMCOPA, CHS, KMP, Goldensea Industry, Gushen Biological Technology Group, Henan Shuguang Biotechnology, Yuwang Group, Shandong Wonderful Industrial Group, Shandong Yuxin Bio-Tech, Nordic Soya, Suihua Jinlong Vegetable Oil, Shandong Sanwei Soybean Protein etc.