Soybean Polysaccharides Market Size, Share, Growth, and Global Industry Analysis by Type (Soybean Polysaccharides- A and Soybean Polysaccharides- B) By Application (Rice and Flour, Drinking, Biomedicine), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2023 To 2031

Updated On: 20 November 2023

SOYBEAN POLYSACCHARIDES MARKET REPORT OVERVIEW

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The global soybean polysaccharides market size was USD 146.5 million in 2022 and is expected to reach USD 196.21 million in 2031, exhibiting a CAGR of 3.3% during the forecast period.

Soybean Polysaccharide is a water-soluble polysaccharide mined and developed from soybean. It consists primarily of the nutritional fiber content of the soybean. The composite has a low thickness and it is generally stable in an aqueous solution. They are acidic polysaccharides, the construction similar to the fruit Pectin, extracted from soybean is a refined water-soluble polysaccharide, with their great blending diffusion strength and bonding functions, are broadly used in the food processing sector, while products in the pharmaceutical business can also be broadly used.

The increasing demand for food due to the growing population is driving the market. Furthermore, the growing preference of individuals concerning healthy eating habits has escalated the demand for fiber-rich foods in the market. These factors are predicted to boost the growth of the market during the forecast period. Moreover, the growing occurrence of chronic infections has led to the increasing demand for biologics and biosimilar is anticipated to drive the market in coming years.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with soybean polysaccharides experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the soybean polysaccharides market growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 is an unparalleled global public health crisis that has affected nearly every business, and the long-term effects are expected to influence the industry growth during the forecast period. During the COVID-19 outbreak, the soluble soybean polysaccharides market is projected to experience reduced growth, which is expected to have an undesirable impact on the global industry. Though, through the equilibrium of the economic situation, the market is anticipated to report growth in demand during the post-pandemic period.

LATEST TRENDS

"Increasing Adoption of Healthy Products to Boost Market Growth"

An enormous segment of the people throughout the globe is facing health crises and is struggling with various health concerns and severe illnesses, such as cholesterol, diabetes and heart disease. Public health concern about the effects of nutritional fiber has encouraged a considerably emergent market of reduced-calorie and fiber-rich foods such as soybean polysaccharides. It is a carbohydrate that is decayed by hydrolysis into numerous particles of monosaccharides, mass-produced from soy that has not been improved hereditarily. The major application is in nutrient production for its organic source and preparation profits, soy polysaccharide importantly pleases to the health-conscious users as it contains no sugar or starch.

SOYBEAN POLYSACCHARIDES MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into Soybean Polysaccharides- A and Soybean Polysaccharides- B.

Soybean polysaccharides- A is the leading segment in the market share. The prominent players have applied low viscosity soybean to create their crops, as it provides excellent protein strength and an encouraging taste. Moreover, it doesn’t decrease its soothing properties in nutrient-rich drinks and is appropriate for protein-rich drinks. Therefore, these properties are improving the demand and henceforth will drive the market growth during the forecast period. These factors are likely to foster the market growth in the upcoming years. 

• By Application Analysis

Based on application, the market is divided into Rice and Flour, Drinking, Biomedicine, and others.

The drinking segment is expected to lead the market share. The segment growth can be owing to numerous applications such as acidic milk drinks, yogurt, low-fat ice cream, fermented milk drinks, and others. Therefore, demand for these applications is expected to drive market growth. Therefore, these factors can propel market growth. 

DRIVING FACTORS

"Increasing Demand from Diary-Based Products to Boost Industry Progress"

Soybean polysaccharides are added to milk and other dairy foods as a nutritional raw material for fiber-rich food. Products such as low-fat ice creams are mixed with soluble soybean polysaccharides at diverse stages. Several dairy product producers are integrating beverages, milk, puddings, and ice to upturn the dietary fiber content and recover the uniformity and smooth texture. This is projected to encourage market growth during the forecast period. Moreover, the progress of active packing film can upsurge the manufacturing application and significance of these products in a variety of industrial uses.

"Rising Demand for High Protein Foods to Foster Progress of the Market"

The increasing demand for high fiber food due to the augmented consumer health consciousness will substitute the market growth. Meanwhile, soybean providers linger to make substantial deviations to address food manufacturers' efficiency and performance needs. Nowadays, soy materials distribute important in function, nutrition, cost, and position flexibility in general wellness, organics, health claims, and nutrient content. Moreover, User tastes are fluctuating concerning a more nourishing diet concentrating on an additional supportable lifestyle and less dependence on animal proteins.

RESTRAINING FACTORS

"Consumption of Chemicals to Impede Market Growth"

The consumption of chemicals is expected to impede market growth meanwhile the intake of these products can have harmful effects on users’ health. The European Union (EU) has severe guidelines in place for genetically modified yields owing to the threats related to humans and the environment. Soy, some of the major bases of vegetable protein and the leading plant-based protein component, if hereditarily altered in another form, might have opposing effects if consumed and is henceforth constrained in the European region.

SOYBEAN POLYSACCHARIDES MARKET REGIONAL INSIGHTS

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"R&D Activities to Facilitate Market Growth in North America"

North America is expected to dominate the soybean polysaccharides market share due to lifestyle changes, a lack of strong dietary consumption, and producer’s augmented prominence on R&D to progress various types of fiber-rich products with soybean polysaccharides as the main ingredient. The U.S. continues to lead the market, backed by Mexico and Canada. Due to augmented demand for plant-based and organic products on the market, users in the region are moving to more nutritional supplements food, thus motivating the market growth.

Asia Pacific is expected to have a sizable market share. The demand for products in developing countries such as India, Japan, and China is expected to considerably increase during the forecast period. This is owing to the invention of new products, alteration and restoration of old technologies, the increasing spending on food and beverage goods, and growing adoption of the product in the region.

KEY INDUSTRY PLAYERS

"Companies Invest Heavily in Research and Development Activities to Improve Brand Position"

Regardless of an extremely competitive market, companies on the market for soybean polysaccharides have presented an inclination for sustainability. The key market players are concentrating on technical developments, and R&D activities and they are employing various methods such as acquisitions, partnerships, and joint ventures to obtain market share. The market is extremely divided with big food companies captivating center stage globally. Great trends have focused mostly on inorganic developments in the market.

INDUSTRY DEVELOPMENT

• January 2019: Fuji Oil had recognized a new plant for soy handling food at Chiba plant in the city of the Chiba, Japan. With the new plant, the firm is concentrating on evolving new markets for the coming future.

List of Market Players Profiled

• Fuji Oil Group (Japan)
• Weibo (China)
• Tianjing (China)
• Shanghai Biotech (China)
• HuaHui Biological (China)
• Juyuan (China)

REPORT COVERAGE

The research report has included the analysis of several aspects that contribute to the soybean polysaccharides market growth. It consists of market trends, restraints, and drivers that positively or negatively impact the market. This section also discusses the many sectors and applications that may impact the market in the future. The data is based on current trends and historical milestones. This section also includes an analysis of the global market's production volume.