Organic Soy Protein Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Global Organic Soy Protein Market is anticipated to grow with a CAGR of 16.2% during the forecast period.
The trendy concept of veganism is playing a key role in the advancement of the organic soy-based protein market. These proteins are readily becoming a part of the functional foods which help to compensate for the dietary imbalances, amidst a tiring lifestyle.
The protein demand of the vegan population is fulfilled greatly by the introduction of organic soy protein. Furthermore, the organic soy protein products are low in carbohydrate content, non-GMO, gluten-free and come in multiple flavors, giving consumers a handful of options to choose from. The manufacturing companies, therefore, have a wide scope of innovation to expand their product-offering range.
According to USSEC, being largely dependent on imported raw feed ingredients, Southeast Asia region needs to increase its purchase of soybean and soybean meals exponentially to meet demand. Southeast Asia's regional economies are comparatively open and market-driven, and ASEAN countries have good relations with the United States, one of the major organic soy protein-producing country. Owing to the rapid growth in the urban lifestyle, the countries of this region are becoming more health-conscious and leaning towards healthier and nutritional food habits in recent times. The trend has also influenced India China making Asia-Pacific the fastest-growing market for organic soy protein. However, Europe is still dominating the global organic soy protein market followed by North America, in terms of current market size.
The manufacturing companies for organic soy protein continue to innovate their product and try to make it as healthy as possible for the consumers. The major players include Archer Daniels Midland Company, Devansoy Inc., Natural Products Inc., Hodgson Mill, Agrawal Oil & BioChem, and Frank Food Products. Their health claims on a non-GMO, gluten-free, low cholesterol and low-fat organic soy protein have received an appreciable response from the consumers.