The latest research study “Soy Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global soy protein market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.27% during 2023-2028.
Soy protein ingredients are derived from soybeans that have undergone a process of isolation and extraction from defatted and dehulled soybean meal. They are a cost-effective source of protein and offer oligosaccharides, fibers, and amino acids similar to those found in other legume pulses. These protein ingredients are known for their high protein content, extended shelf life, and stability across various food products. As a result, soy protein finds extensive applications in producing different food items, such as weaning foods, dairy replacements, bakery and confectionery products, flatbreads, soups and sauces, ground meat, and specialty items across the globe.
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Soy Protein Market Trends and Drivers:
The global soy protein market is primarily driven by shifting consumer preferences from animal to plant-based proteins and the increasing popularity of veganism. Moreover, the rising promotion of protein-rich diets through health and wellness programs is positively influencing the market growth.
Additionally, numerous technological advancements in food processing techniques are other major growth-inducing factors. Besides this, the increasing utilization of soy protein as a competitive source of protein in animal feed has catalyzed market growth. Furthermore, the surging adoption of soy protein ingredients in infant food and formula production is contributing to market growth.
Other factors, including ongoing research and development (R&D) activities, rapid expansion in the food and beverage industry, and inflating consumer disposable incomes, are also anticipated to drive the market further.
Global Soy Protein Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Costantino & C. spa, Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Crown Soya Protein Group, DuPont de Nemours Inc., Fuji Oil Co. Ltd., Smithfield Foods Inc, Sonic Biochem Extractions Pvt. Ltd, The Scoular Company and Wilmar International Ltd.
The report has segmented the market on the basis of type, form, nature, distribution channel and application.
Breakup by Type:
- Isolate
- Concentrate
- Textured Soy Protein
Breakup by Form:
- Powder
- Bars
- Ready-to-Drink
- Capsules and Tablets
- Others
Breakup by Nature:
- Organic Soy Protein
- Conventional Soy Protein
Breakup by Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Application:
- Bakery and Confectionery
- Functional Foods
- Pharmaceuticals
- Meat Additives
- Feed
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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