Market Trends of united states soy protein Industry
Plant protein consumption growth fuels opportunities for key players in the ingredients sector
- The per capita consumption rate of plant proteins is increasing at a considerable rate in the United States, supported by investments and innovations, resulting in a consumption rate of 40.28 grams per day, primarily due to a rising number of consumers turning vegan to promote animal welfare. This is because factory farming, where animals are maltreated, is a norm in the United States. Most Americans eat less meat and animal products, but they do not eliminate their consumption entirely. They also tend to be more flexitarian than vegan or vegetarian. Nearly 12% of consumers in the country prefer a plant-based diet, whereas 7% of consumers follow a flexitarian diet. Although consumers of all generations in the United States are interested in plant-based meals, individuals in their 20s and 30s are the keenest to adopt plant-based diets.
- There is a constant rise in the per capita consumption of pea protein due to its wide applications in different food products, like meat, poultry, and bakery products. Around 41% of consumers are interested in plant-based food derived from pea protein. The usage of pea protein is mainly observed in sports nutrition and meal replacement applications. A typical serving of pea protein powder is 30 grams, with 25 grams of protein recommended to consumers.
- Soy and whey proteins are used primarily in the food and beverage, supplement, and sports nutrition industries. In 2021, around 36% of consumers were familiar with soy protein and had consumed the same, whereas 31% of individuals consumed whey protein in the United States. Similarly, the consumption of soy-based food and beverages favorably increased by 12.9% during 2014-2019, and it is likely to remain consistent throughout the forecast period.
Understand The Key Trends Shaping This Market
Download Sample
United States produces about 75% of all soybeans in the world
- Soy is a global merchandise commodity produced in both temperate and tropical regions. It also serves as a key source of protein and vegetable oils. The major driving factors for the US soy protein ingredients market are the changes in food consumption patterns and food requirements and an inclination toward vegetarian products for protein sources. As per the data released by the Soy Nutrition Institute, the United States produces about 75% of all soybeans in the world. The U.S. Department of Agriculture (USDA) and industry partners solved phytosanitary certificate issues which helped farmers to provide feed to Indian farmers at affordable prices.
- In the United States, the application of soy protein in meat additives has been playing a major role in increasing the sales of soy protein ingredients over the past few years. Customers who favor plant-based protein products over animal-based protein products are drawn to soy protein's use in infant formula and animal feed. The US Department of Agriculture (USDA) stated that soy protein reduces the risk of heart diseases, thus increasing the demand for other vegan proteins.
- Despite the impact of the COVID-19 outbreak on the food supply chain, this soy protein production observed a hike of 16.4% in y-o-y growth rate. Due to increasing demand in major importers like China and India the exports increased by 40% from the previous year which resulted in the growth of the market. Even with the high number of COVID-19 cases observed in the major producing countries, the soybean industry continues to operate, with farmers in the United States as they use knowledge and technology to maintain or increase yields while using fewer resources and caring for their land, continuously improving sustainability.
Understand The Key Trends Shaping This Market
Download Sample
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Baby food to witness steady growth post pandemic
- Innovation holds key to maintain steady growth rate
- Consumers' preferences shift to premium condiments and sauces, away from packaged soups
- Dairy alternatives to witness significant growth rate
- Great opportunities for meat alternative products
- Key players focusing more on healthy ingredients post COVID-19
- Rising us feed exports and feed prices are expected to impact production
- The growth of the bakery industry is led by large commercial players
- Sustainable and innovative packaging trends to influence breakfast cereals market
- Key players to focus fortification and nutritional enrichment
- Emphasizing awareness and innovation; driving force behind elderly nutrition market growth
- E-commence will emerge as one of the most preferred channels
- Sport/performance nutrition to witness significant growth during forecast period
- United States cosmetic industry to drive by synergy of innovation and social media influence
