Global Hydrolyzed Soy Protein Market Overview
Food Additive and Ingredients demand is increasing due to high consumption of processed foods across the globe. The changing lifestyle of the people and due to their work profile they do not have a time to have homemade food. Therefore, they prefer to have processed food to fulfil their requirement. The processed food manufactures produces various type of products including soups, spices, sauces, and snacks. While manufacturing these products they use multiple type of food additives and ingredients such as hydrolyzed soy protein, glucose, fructose, sorbitol, mannitol, corn syrup, high fructose, ascorbic acid, citric acid, sodium benzoate, calcium propionate, sodium erythorbate as a preservative, flavour enhancer and sweeteners. Hydrolyzed soy protein is used as a flavour enhancer in soups, spices, sauces, and snacks. Therefore Hhydrolyzed soy protein demand is increasing in the market. Hydrolyzed soy protein is manufactured by natural soy with some chemical processing. The sodium and MSG content of hydrolyzed soy protein enhance the flavour of proceeded food.
Global Hydrolyzed soy protein Market Scenario
The hydrolyzed soy protein has high demand in the market due to high growth of food industry. Globally, food processing companies are enhancing their portfolio to cater new customer segment in the market. The global hydrolyzed soy protein manufactures enters into partnership with various type of food processing companies to provide hydrolyzed soy protein. North America is one of the dominant market in food processing market and emerging countries like India, China, Turkey, Argentina will have high demand for hydrolyzed soy protein due to increasing demand for processed food. In addition to this European and North American countries will have moderated demand for hydrolyzed soy protein due to moderate growth of food processing industry.
Global Hydrolyzed Soy Protein Market Dynamics
Wide application area of hydrolyzed soy protein increases the demand for hydrolyzed soy protein in the market. Hydrolyzed soy protein is not only used in food processing but also used in cosmetics, pharmaceutical, and fertilizers. High demand for food additives drive the growth of hydrolyzed soy protein market. In addition to this consumer changing lifestyle, and innovative packaging technology of processed food also increases the demand for hydrolyzed soy protein.
However, Hydrolyzed soy protein is produced by boiling soy in hydrochloric acid, and sodium hydroxide. These two chemical components are harmful for human body therefore people hesitate buy such food which include the hydrolyzed soy protein.
Global Hydrolyzed Soy Protein Market Segmentation
The hydrolyzed soy protein market can be segmented based on form, application and function. On the basis of form hydrolyzed soy protein market can be segmented into dry and liquid form. Hydrolyzed soy protein can be categorized into application including ffunctional foods, bakery & confectionery, pharmaceutical, cosmetics & personal care, and fertilizers. Further, the market can be segmented by functions such as nutrients, emulsifier, fat & water absorption, and other functions. Geographically, the global market for hydrolyzed soy protein can be segmented into seven regions, namely North America, Latin America, Europe, CIS & Russia, and Asia Pacific excluding Japan, Japan and Middle East & Africa.
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Global Hydrolyzed Soy Protein Market Key Players
Hydrolyzed soy protein manufacturers are primarily converging on emerging economies to gain a huge profit margin. Key manufacturers in the global market are continuously introducing new hydrolyzed soy protein products. Some of the key market participants in the global hydrolyzed soy protein market are Archer Daniels Midland, DuPont Nutrition & Health, The Good Scents Company, Abbott Nutritionals, Kerry Group Plc., Friesland Campina, Cargill Inc., Arla Foods, Costantino Special Protein, New Alliance Dye Chem Pvt.Ltd, Solae LLC, and Bunge