Tag: Soy Protein Ingredients Market Size

Soy Protein Ingredients Market Size to Reach US$ 10.8 Billion by 2027 | MarketsandMarkets

The global soy protein ingredients market was valued at USD 7.7 billion in 2022 and grew at a CAGR of 7.0% from 2022 to 2027. The market is expected to reach USD 10.8 billion by 2027. Soybeans are used to make the components of soy protein. Soy protein ingredients are produced by processing soymeal to obtain ingredients with higher protein concentrations, which can be used as a protein source in a range of food and animal feed applications. The demand for soy protein is growing in the food and animal feed industries, owing to their health benefits and functional properties. It is also a cheaper substitute for animal protein. The market is likely to grow at a significantly higher rate compared to other vegetable proteins.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=857

Drivers and Opportunities in Soy Protein Ingredients Market

Drivers: Demand for cheaper protein source

Increased crop cultivation in developing regions such as South America and Asia Pacific, in addition to the already widespread cultivation across the globe, has increased the availability of soy proteins. Raw materials are, therefore, easy to obtain from contract farmers or oilseed crushers offering soy meal. The low processing costs associated with soy protein are suitable for the operational demands of manufacturers and thereby allow the processors to spend effectively on product development. As a result of these trends, soy proteins are cheaper when compared to that of other protein sources such as meat, dairy, and whey proteins. Additionally, the prices of conventional dairy products have increased in the recent past, and soy protein, one of the major plant sources of protein, is one of the best alternatives in terms of price. These are the driving factors for soy protein ingredients market.

Opportunities: Demand for organic soy protein

The organic soy protein market has the potential to change the business landscape in the overall soy protein ingredients market. According to the Research Institute of Organic Agriculture (FiBL), around 1.8 million farmers across 162 countries carried out organic cultivation on more than 37.0 million hectares of agricultural land in 2013. Growth in the organic food products market is also expected to boost the growth of the organic market. Government and non-government organizations offer financial aid, R&D programs, and subsidies to support traditional farmers in switching to organic farming. These organizations include the Research Institute of Organic Agriculture, Switzerland (FiBL), the Agricultural & Processed Food Products Export Development Authority (APEDA) in India, and the US Department of Agriculture (USDA) in the US. Demand for organic food ingredients is high in developed regions such as North America and Europe. The consumer preference for healthy products is rising due to the increasing consumer awareness about the health benefits of consuming organic food products. As a result, marketing campaigns are planned to highlight their use and health benefit claims.

Key Players in Soy Protein Ingredients Market

  • ADM (US)
  • Cargill
  • Incorporated (Sweden)
  • International Flavors & Fragrances Inc. (US)
  • Devansoy (US)

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=857

Regional Analysis

The ethical limitations and consumer awareness regarding personal and environmental health have contributed greatly to the mass shifting of people toward adopting veganism and flexitarian diets. According to a recent report published in March 2022 by the Plant-Based Foods Association (PBFA), the US plant-based food retail sales reached USD 7.4 billion, outpacing total food retail sales and showing a growth rate of 6.1% in 2021 from the previous year, despite supply chain interruptions and pandemic restrictions. This growth and increase in the demand for and consumption of plant-based foods are likely to continue during the forecast period and present significant business opportunities for soy protein ingredients.

North America is a significant production base for plant-based protein manufacturers, and the US is a key producer of soybean and wheat in the region.

Similarly, in Mexico, the demand for protein-rich food and beverage products is high due to the highly diversified and multicultural population, which is among the key contributors to the growth of plant-based protein offerings in the region.

Soy Protein Ingredients Market [246 Pages] Over-all Revenue ~ US$ 10.8 Billion by 2027 with Rising CAGR of 7.0%

In This 246 Pages Report, Our Team Research Soy Protein Ingredients Market by Type, Application, Form, Nature, Function, Region and Forecast 2022-2027.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=857

Soy Protein Ingredients Market Segmentation

By Type

  • Soy Protein Concentrates
  • Soy Protein Isolates
  • Textured Soy Protein
  • Soy Flours
  • Other Types

By Application

  • Food
  1. Meat Alternatives
  2. Dairy Alternatives
  3. Bakery Products
  4. Performance Nutrition
  5. Convenience Foods
  6. Beverages
  7. Other Food Applications
  • Feed
  1. Cattle
  2. Swine
  3. Poultry
  4. Pet Food
  5. AquaFeed

By Form

  • Dry
  • Liquid

By Nature

  • Conventional
  • Organic

By Function

  • Muscle Health
  • Heart Health
  • Weight Management
  • Other Functions

By Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Rest of the World (RoW)

Major Players Covered in the Soy Protein Ingredients Market

  • ADM (US)
  • Wilmar International Ltd (Singapore)
  • Cargill, Incorporated (US)
  • International Flavors & Fragrances Inc. (US)
  • CHS Inc. (US)
  • BRF Global (Brazil)
  • Fuji Oil Holdings Inc. (Japan)
  • Devansoy (US)
  • Crown Protein Soya Group Company (China)
  • AG Processing Inc. (US)
  • The Scoular Company (US)

Short Summery About Soy Protein Ingredients Market

The soy protein ingredients market is witnessing significant growth due to the rising demand for plant-based protein sources. Soy protein, derived from soybeans, is a popular choice among consumers seeking alternatives to animal-based proteins. Its versatility makes it suitable for various applications in food, beverages, pharmaceuticals, and cosmetics. Factors such as increasing health consciousness, dietary preferences, and sustainability concerns are driving the market forward. Additionally, advancements in processing technologies and product innovations are further fueling market expansion. As the trend towards plant-based diets continues to grow, the soy protein ingredients market is expected to experience continued growth and development.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=857

Soy Protein Ingredients Market – Regional Analysis

North America: North America holds a significant share in the soy protein ingredients market, driven by the increasing adoption of plant-based diets and the rising awareness of the health benefits associated with soy protein consumption. The region’s well-established food and beverage industry also contribute to market growth.

Europe: Europe is another prominent market for soy protein ingredients, with consumers increasingly opting for vegetarian and vegan lifestyles. Growing concerns about animal welfare and environmental sustainability further drive the demand for plant-based proteins like soy. The region also witnesses considerable innovation in product formulations to meet evolving consumer preferences.

Asia Pacific: Asia Pacific emerges as a key player in the soy protein ingredients market, primarily due to the widespread consumption of soy-based foods in countries like China, Japan, and India. The region’s rich culinary heritage includes numerous soy-based dishes, contributing to the market’s growth. Moreover, increasing disposable income levels and changing dietary habits fuel market expansion in this region.

Latin America: Latin America showcases significant potential for the soy protein ingredients market, driven by the region’s abundance of soybean cultivation. Brazil and Argentina are major producers of soybeans, providing a strong foundation for market growth. The adoption of soy protein ingredients in food processing industries and the increasing popularity of functional foods further boost market demand in the region.

Middle East & Africa: Although comparatively smaller in market size, the Middle East & Africa region exhibits growth opportunities for soy protein ingredients. Changing consumer preferences towards healthier dietary options and the rising awareness of the nutritional benefits of soy protein contribute to market expansion in this region.