According to the recent FMI report, the sales for soy protein concentrate are expected to surpass a value of USD 4.5 Billion in 2032, rising at a CAGR of around 9.2% through the end of 2032.
As a result of the invention of the soy protein concentrate, the use of soybeans in cattle and poultry diets has increased in many regions of the world. It is proving to be extremely important in animal nutrition as a consistent source of protein with a high amount of key amino acids. Soybeans provide more than two-thirds of the protein concentrates used in animal feeds around the world.
The nutritional makeup of the produced products differs slightly between the two processes. SPC is greater in nutritional value than soybean meal and has a lower oligosaccharide content (3%) as well as antigenic components.
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In the diets of calves, piglets, and dogs, SPC provides a cost-effective alternative to high-quality animal proteins such skim milk powder or fishmeal. On a protein basis, SPC has the potential to replace up to 50% of fishmeal in salmonid diets in aquaculture.
The necessity to replace fishmeal, as well as other animal by-products, with soy protein concentrate is becoming apparent in the rapidly growing aquaculture sector.
This is due to three major factors: I limited fishmeal production coupled with an increase in global aquaculture production; (ii) consumer concerns about food safety in light of dioxin contamination; and (iii) ethical objections to the use of edible protein in animal diets in light of global population growth. It is, therefore, promoting the soy protein concentrate market.
Key Takeaways from the Soy Protein Concentrate Market Study:
- Between 2022 and 2032, the North American soy protein concentrate business is expected to grow at a rate of more than 8%, owing to increased demand for healthier baked items.
- Asia-Pacific will remain the largest soy protein concentrate market, with sales expected to reach USD 1.8 Bn by the end of 2032.
- By the end of 2032, sales of soy protein concentrate for animal feed are expected to account for more than two-fifths of the soy protein concentrate market.
- The liquid soy protein concentrate segment is predicted to grow at a quicker rate than the dry soy protein concentrate segment through 2032, despite the fact that the former will continue to be more profitable.
- Due to the growing use of soy protein concentrate in the food and beverage industry, the emulsification segment is likely to dominate the European market. The high emulsification qualities also contribute to the dominance.
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“Key market players are investing much in R&D in order to introduce new products and obtain a competitive advantage. Companies are also pursuing tactics such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.” said a lead analyst at FMI.
Who is winning?
Key players operating in the global soy protein concentrate market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production.
Some of the leading companies offering soy protein concentrate are DuPont, Cargill, ADM, The Vincent Corporation, Crown Soya, Wilmar International Ltd, Nordic Soya Oy, Incorporated, Shandong Yuxin Biotechnology Co., Batory Foods, and others.
Get Valuable Insights into Soy Protein Concentrate Market
FMI, in its new offering, provides an unbiased analysis of soy protein concentrate presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for soy protein concentrate based on form (dry and liquid), by application (food products, beverages, dietary supplements, nutraceuticals, animal feed, cosmetics and personal care, pharmaceuticals, and others), function (emulsification, solubility, water binding, foaming, thickening agent, and others) across five major regions.
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