The growing awareness among common consumers regarding the health benefits of consuming soy proteins is by far the leading driver in favor of the global soy protein market.The market is also likely to benefit from increased research and development efforts aimed at the introduction of more beneficial soy protein foods and the incorporation of innovative blends appropriate for a variety of uses. The usage of soy proteins in animal feed is one example of this growing trend. The worldwide soy protein market, on the other hand, is now constrained by the overall supply-demand imbalance. The worldwide soy protein market is suffering from a decline in total raw material provided due to a greater focus on soybean distribution.
The global soy protein market is projected to reach US$ 12.01 by the end of 2027, at a CAGR of 5.59% over the forecast period (2019-2027), attributing to increasing awareness regarding importance of protein intake in daily life.
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America are the major regions in which the worldwide soy protein market can be segmented. North America dominated the market in 2015, followed by Europe and finally Asia Pacific. While North America's dominance in soy protein consumption is projected to remain, the region's growth is expected to be slower than that of the prospective Asia Pacific region. Manufacturers of soy proteins in Asia Pacific are expecting a favourable growth trend in the future years, thanks to a growing number of people with more discretionary income, growing awareness of the benefits of soy proteins, and a growing trend of veganism.
Additionally, the demand for soy proteins is also showing a very favorable growth rate in Latin America, allowing a lot of prominent manufacturers from Europe and North America to see this region as an establishment for growth.
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