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\"TBRC<\/div>\n<\/div>\n<\/div>\n

TBRC Business Research PVT LTD<\/figcaption><\/p>\n<\/figure>\n

TBRC\u2019s market research report covers soy protein market size, soy protein market forecasts, major soy protein companies and their market share, key strategies to undertake, and more.<\/em><\/p>\n

LONDON, June 02, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company\u2019s research report on the soy protein market<\/a>, the changing consumer preference towards plant-based meat and meat alternatives is expected to drive the market in the forecast period. Soy protein is a meat alternative used to create meat-like chunks, shreds, and strips, which improve the eating experience of meat-free applications. According to a 2021 survey by US-based nonprofit organization Food Insight among 1,000 Americans, 65% reported eating products that attempt to mimic the flavor and texture of animal protein but are made with only plant products. The primary reasons for consuming plant-based meat alternatives are healthfulness (39%), high-quality protein source (34%), liking the taste (33%), environmental\/sustainability benefits (23%), and health claims\/certifications (23%). Increasing number of people preferring meat alternatives as better for their health and the environment would drive the soy protein isolate market during the period.\u00a0<\/p>\n

Request <\/strong><\/a>for a sample of the global <\/strong><\/a>soy protein<\/strong><\/a> market report<\/strong><\/a><\/p>\n

The global soy protein market size<\/a> is expected to grow from $7.47 billion in 2021 to $8.24 billion in 2022 <\/strong>at a compound annual growth rate (CAGR) of 10.3%.<\/strong> The growth in the soy protein market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The soy protein concentrate market size is expected to reach $11.14 billion in 2026<\/strong> at a CAGR of 7.8%.<\/strong><\/p>\n

Archer-Daniels-Midland Company, a US-based food processing company, was the largest competitor in the soy protein market in 2021, with a 4.09% share of the market. Archer-Daniels-Midland Company is a processor of oilseeds, corn, barley, peanuts, wheat, cocoa, and other agricultural commodities. It also manufactures protein meal, ethanol, flour, biodiesel, corn sweeteners, vegetable oil, and other value-added food and feed ingredients. The Archer-Daniels-Midland Company\u2019s (ADM\u2019s) business strategy is focused on boosting its alternative protein portfolio capacity by catering to the growing demand of the organic soy protein market and the textured soy protein market.\u00a0For instance, in 2022, the company invested over $300 million to ramp up production of alternative proteins at its Decatur, Illinois, plant. The project investment will increase its soy protein concentrate capacity and nearly double the facility’s extrusion capacity by 2025. The company is also constructing a Protein Innovation Center in Decatur that would consist of several labs, test kitchens, and pilot-scale production capabilities to help the company develop new ingredients, more sustainable and efficient processing, along with unique texture, taste, appearance, and nutritional products.<\/p>\n