The latest report by Precision Business Insights, titled “Organic Soy Protein Market” covers complete information on market size, share, growth, trends, segment analysis, key players, drivers, and restraints.
According to Precision Business Insights (PBI), latest report, the Organic Soy Protein Market was valued at USD 273.7 million in 2022 and is expected to grow at a 15.9% CAGR from 2023 to 2029. The primary drivers of the expansion of the global organic soy protein market include the increasing demand for plant-based proteins and organic food products. In addition, the increasing trend of veganism among consumers is expected to aid the growth of the organic soy protein market.
Based on the form, the market is segmented into the following:
Based on the product type, the market is segmented into the following:
Based on the application, the market is segmented into the following:
Based on the application, the global Organic Soy Protein market is segmented into bakery and confectionery, meat extenders and substitutes, nutritional supplements, food & beverages, and others. The food & beverages segment is expected to account for a larger revenue share in the global organic soy protein market. The increasing demand for organic and non-GMO products is expected to drive the demand for organic soy protein market in food and beverages industries. The organic soy proteins are used in food & beverages products as a meat substitute, dairy alternative, energy bars, snacks, and beverages. Furthermore, the growing demand for flexitarian diet and the demand for sustainable food products is expected to drive the growth of organic soy protein market in this segment.
Based on geography, the market is segmented into the following:
The North American organic soy protein market is expected to increase over the forecast period due to the change in consumer preference for plant-based diet along with the increasing demand for organic and non-GMO products in this region. In addition, the presence of a well-established organic food industry, with a strong regulatory framework and certification process for organic products is expected to boost the growth of the organic soy protein market over the forecast period. furthermore, the presence of several major market players in the US and Canada such as Harvest Innovations, Devan Soy Inc., The Scoular Company, and SunOpta Inc., are expected to further aid the growth of the organic soy protein market in this region over the forecast period.
The global Organic Soy Protein market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In May 2021, NOW Health Group, included the D2C model and provided soy protein isolated powder in a variety of flavors to the customer.
Key players profiles in the Organic Soy Protein Market Report are Cargill Incorporated., Kerry Group plc, Wilmar International Ltd., The Nisshin OilliO Group Ltd., Ruchi Soya Industries Ltd., Ag Processing Inc., Devan soy Inc., American Soy Products, Smithfield Foods, Inc., Impossible Foods Inc., Batory Foods, Kellogg NA Co., Doves Farm Foods Ltd.
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