Global Soy Protein Ingredients Market- Growth, Trends, and Forecast (2020 - 2025)
The National Institute of Allergy and Infectious Diseases reveals that 90% of food allergies are caused by eggs, milk, fish, red meat, and nuts. Due to animal protein allergies, most of the meat consumers are inclined toward meat substitutes made of vegan protein, which ultimately drives the global soy protein ingredients market. In fact, according to a reference list of allergen data emperically observed, it was found that the allergen from chicken meat ranges from 0.5%-5% in Southern Europe. According to the United States Center for Disease Control and Prevention, 12.2 million people are suffering from food allergy, of which two-thirds are associated with egg allergy. Consumers are, therefore, switching to protein alternatives, which are plant derived, such as soy, pea, and wheat. This, in turn, is driving the global soy protein ingredients market. According to the Health Focus data, nearly 17% of US consumers, aged between 15-70 years, are predominantly eating plant-based diet, with 60% of the population cutting back on meat-based products.
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. MARKET SEGMENTATION
6. COMPETITIVE LANDSCAPE
7. MARKET OPPORTUNITIES AND FUTURE TRENDS