Estimating India's soy protein consumption and exporting soy products to India
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India holds a large percentage of the world's population at over 16%. India is a relatively poor country with an estimated per capita gross domestic product (GDP) of only $650 compared to the U.S. at $39,000 in estimated 2007 U.S. dollars. Studies have shown that low income countries with growing incomes have experienced increased protein consumption. The growing population, along with a growing per capita income, show that India is poised for this consumption growth. However, 60-70% of India's population is vegetarian. Thus, the consumption growth is expected to occur in the non-animal protein category. The objective of this study is to determine India's soy protein demand over the next ten years based on income projections and then, determine if feasible, the amount of U.S. soybeans that will be needed to fulfill this demand. Lastly, a logistical assessment of moving identity preserved soybean protein products from the U.S. Midwest to India is discussed.
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M.S.