Pune, India, Jan. 05, 2022 (GLOBE NEWSWIRE) -- The global soluble soyabean polysaccharides market accounted for USD 2,237.6 million in 2020 and is projected to grow at a CAGR 9.7%, according to a new report by Quince Market Insights. A large section of the population across the globe is facing health crises and is fighting numerous health issues and serious conditions, such as diabetes, increased blood cholesterol, and heart disease. Most of these issues can be easily managed and regulated by increasing dietary fiber intake in daily food. Soluble soybean polysaccharides are incorporated heavily in dairy-based products to provide healthier and fiber-rich food to customers across the globe. Many dairy product manufacturers are incorporating milk, beverages, puddings, and ice creams with soluble soybean polysaccharides to increase the dietary fiber content and improve the homogeneity and smooth texture.
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Soluble soybean polysaccharides are added to milk and other dairy products as a dietary raw material for fiber-fortified food. Products such as low-fat ice creams are added with soluble soybean polysaccharide at different levels. This is expected to promote market growth during the forecast period. However, the use of chemicals is anticipated to restrain market growth since the consumption of these products can have negative impact on consumers' health.
The development of active packaging film using soluble soybean polysaccharides can increase the industrial application and relevance of these products in a range of industrial applications. Additionally, SSPS films can provide elevated elongation at break and improved tensile strength, which make them suitable for application in heavy food packaging applications. These factors are expected to boost the market growth during the forecast period.
Some Significant Market Developments Considered in the Report:
- January 2019 - Fuji Oil (Japan) had established a new plant for soy processing food at Chiba plant in the city of Chiba, Japan. With the new plant, the company is focusing on developing new markets for the future.
COVID-19 Impact on the Global Soluble Soyabean Polysaccharides Market
The QMI team is closely monitoring the impact of COVID-19 on the global soluble soyabean polysaccharides industry, and it has been observed that the demand for soluble soyabean polysaccharides has declined during the pandemic. During the COVID-19 outbreak, the soluble soyabean polysaccharides market is projected to experience reduced growth, which is expected to have a negative impact on the global industry. However, with the stabilization of the economic scenario, the market for soluble soyabean polysaccharides is expected to report growth in demand during the post COVID-19 period.
Global Soluble soyabean polysaccharide Market, by Type
Based on type, the market is bifurcated into type B (medium viscosity) and type A (low viscosity). The type A (low viscosity) segment is expected to witness the fastest growth in the market during the forecast period.
Most of the key players have implemented low viscosity soybean to create their products, as low viscosity offers admirable protein stability and a stimulating taste. Furthermore, it doesn't reduce its stabilizing properties in nutrient-fortified drinks and is suitable for protein-containing drinks. Thus, these properties are boosting the demand and hence will drive the market growth during the forecast period.
Global Soluble soyabean polysaccharide Market, by Product
Based on product, this market is classified into galactose, arabinose, galacturonic acid rhamnose, and others. The galactose segment is expected to witness the fastest growth in the market during the forecast period.
The SSPS contain high galactose content as compared to other products. Due to the growing use of SSPS in fermented milk drinks, cakes, and others, the demand for galactose is increasing. Thus, continuous demand for these products is expected to boost the market growth.
Global Soluble soyabean polysaccharide Market, by Application
Based on application, this market is divided into lactic acid beverage, rice and flour products, pharmaceutical, and others. The lactic acid beverage segment is expected to witness the fastest growth in the market during forecast period. The segment growth can be due to various applications such as in yogurt, acidic milk drinks, low-fat ice cream, fermented milk drinks, among others. Thus, demand from these applications is projected drive the market growth.
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Global Soluble Soyabean Polysaccharide Market, by Region
Based on region, the global soluble soybean polysaccharides (SSPS) market has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Asia Pacific is expected to witness the fastest growth in the market during the forecast period.
The demand for soluble soybean polysaccharides in emerging countries like Japan, India, and China is projected to significantly rise during the forecast period. This is due to the growing spending on food and beverage products, introduction of new products, transformation and renewal of old technologies, and increasing adoption of the soluble soybean polysaccharides in Asia Pacific.
Some Major Points of the Soluble Soyabean Polysaccharides Market Report Include:
- An in-depth global soluble soyabean polysaccharides market analysis by the segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global soluble soyabean polysaccharides market, which include Fuji Oil Holdings Inc (Japan), Yiming Biological Products Co. Ltd (China), Pingdingshan Jinjing Biological Technology Co. Ltd (China), Kowa Company Ltd (Japan), Gushen Biological Technology Group Co. Ltd (China), Bio Nutrients India Pvt Ltd (India), Shandong Yuwang Ecological Food Industry Co. Ltd (China), Fos Gmbh (Germany), Linyi Shansong Biological Products Co. Ltd (China), JRS Pharma (Germany), Creative Enzymes (U.S.) and Guangzhou Fofiber Biological Industry Co. Ltd (China).
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global soluble soyabean polysaccharides market
- Impact of COVID-19 on the global soluble soyabean polysaccharides market
Browse key industry insights spread across 195 pages with 135 market data tables and 91 figures & charts from the report, "Global Soluble Soyabean Polysaccharide Market, by Type (Type B {Medium Viscosity}, Type A {Low Viscosity}), Product (Galactose, Arabinose, Galacturonic Acid Rhamnose, Others), Application (Lactic Acid Beverage, Rice and Flour Products, Pharmaceutical, Others), Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) — Industry Trends and Forecast to 2028" in depth analysis along with the table of contents (ToC).
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