Sales Of Non-GMO Soy Protein Are Estimated To Rise At A CAGR...| MENAFN.COM

Friday, 24 March 2023 09:20 GMT

Sales Of Non-GMO Soy Protein Are Estimated To Rise At A CAGR Of 4.8% By 2033

(MENAFN- Ameliorate Digital Consultancy) The global non-GMO soy protein market is projected to reach US$ 2.5 billion by 2023 and it is poised to experience a moderate CAGR of 4.8% between 2023 and 2033. As per the Fact.MR report, the global non-GMO soy protein market is poised to reach a total of US$ 4 Billion by 2033.

Increasing health consciousness worldwide is set to result in growing demand for natural and organic alternatives to processed foods. This is driving the demand for non-GMO soy protein, which has several health benefits to offer. Consuming non-GMO soy proteins is known to decrease cholesterol levels and reduce the risk of developing certain types of cancer.

Subsequently, non-GMO soy proteins are great sources of dietary fibers, iron, magnesium, potassium, zinc, B vitamins and other essential nutrients. The fact that these products do not contain any genetically modified ingredients is also making them attractive to health-conscious consumers.

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In terms of application, demand for non-GMO soy protein in bakery and confectionery products is increasing due to rising consumer awareness about health benefits associated with the product. Non-GMO soy proteins are low in fat, cholesterol, and sodium while providing essential amino acids that support muscle development.

It can also act as an emulsifier and texture enhancer in baked products such as bread, cake, and muffins, providing a healthy alternative to traditional ingredients. This shift to healthy options is contributing to the growing demand for non-GMO soy protein in bakery and confectionery products.

Based on region, North America is estimated to dominate the non-GMO soy protein market due to its strong presence of key players such as Cargill Inc. and DuPont. These companies are focusing on introducing new non-GMO soy protein products in the market to meet growing consumer demand. The anticipated introduction of new legislations by North American countries to encourage healthy diets is set to further fuel market acceleration.

Key Takeaways:

  • North America is anticipated to account for 50% of revenue in the global non-GMO protein market between 2023 and 2033.
  • On the basis of grade, nearly 80% of the market's value is estimated to come from food-grade non-GMO soy protein.
  • By application, baking and confectionery sector is predicted to increase at a considerable CAGR from 2023 to 2033.
  • Based on region, Japan non-GMO soy protein market is expected to gain a significant position from 2023 to 2033.
  • On the basis of application, meat substitute segment is projected to hold sizeable market revenue.

Growth Drivers:

  • Numerous applications of non-GMO soy protein in different industries are poised to increase demand.
  • Rising inclination towards traditional meals as a healthy food choice is likely provide impetus to market acceleration.
  • Increasing demand for antibiotic-free meat substitutes and anticipated introduction of animal feeding schemes are set to help increase demand.

Competitive Landscape:

Key players in non-GMO soy protein market are concentrating on developing new and innovative products for meeting profitability goals. These companies are also collaborating with other companies to enhance their product portfolio. They are also making efforts to enhance the flavor and taste. Companies are investing in research and development as well for improving product sustainability.

For instance,

  • In 2022, the establishment of a new extrusion factory in Serbia was announced by ADM, a worldwide leader in human and animal nutrition. This happened less than a year after ADM purchased SojaProtein, a European supplier of non-GMO soy ingredients.
  • In 2022, the TruVail range of non-GMO soy protein components was launched by Benson Hill. It comprises a high-protein flour, a“lower processed” soy concentrate, and texturized protein for use in conventional soy protein and organic products.
  • In 2022, in order to promote sustainable soy protein components in the Northern European aquafeed industry, food technology business Benson Hill Inc. joined forces with Denofa, a top Scandinavian protein manufacturer.

Key Companies Profiled by Fact.M R

  • DuPont
  • Yuwang Group
  • Gushen Biological
  • Scents Holdings
  • Fuji Oil Holdings
  • Archer Daniels Midland Company Inc.
  • Devansoy Inc.
  • Natural Products Inc.
  • Hodgson Mill

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More Valuable Insights on Non-GMO Soy Protein Market

In its latest study, Fact.MR offers a detailed study on global non-GMO soy protein market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of non-GMO soy protein through detailed segmentation as follows:

By Product:

  • Concentrates
  • Isolates
  • Others

By Grade:

  • Food Grade
  • Feed Grade

By Application:

  • Bakery and Confectionery
  • Meat Substitutes
  • Supplements & Nutraceuticals
  • Animal Feed
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Questions Covered in the Non-GMO Soy Protein Market Report

  • What is the projected value of the non-GMO soy protein market in 2023?
  • At what rate will the global non-GMO soy protein market grow until 2033?
  • Which are the factors hampering the growth in the non-GMO soy protein market?
  • Which region is expected to lead in the global non-GMO soy protein market during 2023 and 2033?
  • Which are the factors driving the non-GMO soy protein market during the forecast period?
  • What is the expected market value of the non-GMO soy protein market during the forecast period?

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