Extruded soy products Market Outlook

Extruded soy products are manufactured using extrusion technology. This technology follows the process of separation and molding of the protein-rich content in soy beans, giving rise to extruded soy products. The extruded soy products are of devoid bitter flavours and have an enhanced shelf-life stability. The major application of extruded soy products is its usage as meat extenders, which add weight to the meat products. They are also used in products that are produced to mimic the texture and taste of meat- alternatives. Apart from adding weight, extruded soy products also increase the protein content of the end product, enhancing its nutritional value.

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Shift towards veganism and vegetarianism positively impacts growth of extruded soy products market

Extruded soy products aid in maintaining health. Consumption of extruded soy products is similar to consuming an extracted concentrate that is rich in its nutritional value. The medical community supports the fact that soy proteins are easier to digest than meat proteins. These features about the health claims are being increasingly acknowledged by the consumers, favouring the growth of the extruded soy products market. Consumer preference for such foods is a result of various factors such as a rising incidence of obesity and heart-cholesterol risks. The rise in the trend for clean-label ingredients also allows considerable growth space for the extruded soy products market to grow. Meat alternative products are increasingly highlighting the presence of extruded soy products on the label ingredients.

However, soy bean production has exhibited a slowing growth in recent times. The fluctuation in the raw material supply of the extruded soy products may lead to fluctuating prices, hindering the growth of the extruded soy products market.

Extruded soy products Segmentation

The extruded soy products market is segmented into form, end use and sales channel

On the basis of form, the extruded soy products market is segmented into-

Chunks
Slices
Flakes
Granules
On the basis of end use, the extruded soy products market is segmented into-

Household
Commercial
Industrial Food Industry Snacks and Functional Bars Ready Meals Meat Extender Others Animal Feed and Pet Food
On the basis of sales channel, the extruded soy products market is segmented into-

Direct
Indirect Supermarket/Hypermarket Convenience Stores Specialty Stores Online Sales Other Retail Sales
Extruded soy products Market: Regional Analysis

China accounts for high revenue share contribution and is expected to continue to witness high growth over the forecast period in the extruded soy products market. The health consciousness amongst consumers in the developed regions is growing at a fast pace and provides a lucrative platform for the growth of the extruded soy products market. In developing regions, India is a major country which houses the largest number of vegetarian population and hence, becomes a lucrative region for the extruded soy products market to grow. In the Middle East, both the awareness and the production of extruded soy products is very low and is the least attractive market.

The trade war ensuing between China and the U.S. is expected to drastically affect the stability of the extruded soy products market. Amongst the imports of products banned by China, soy bean is a major commodity. This has resulted in the wastage of soy beans, impacting the extruded soy products supply chain. The U.S. trade decisions have also started to affect the trade with other countries as well, further creating a hurdle for the extruded soy products market to grow.

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Extruded soy products Market: Key Participants

Some of the market participants in the extruded soy products market are:

Roquette Freres S.A
CHS Inc.
Archer Daniels Midland Company
Cargill Inc.
I. du Pont de Nemours & Co.
MGP Ingredients, Inc
Sonic Biochem Extractions Limited
Sotexpro
BENEO GmbH