Global Soy Protein Market to Grow at a CAGR of 7% between 2024 and 2032

The global soy protein market is being driven by the rising use of soy proteins as an alternative to animal proteins. Trending diets such as vegan diets have introduced the population to plant-based soy protein, which comprises of eight essential amino acids. The consumption of soy protein helps controls hyperglycemia and helps reduce body fat, hyperlipidemia, and hyperinsulinemia. Thus, it is beneficial for, both non-diabetic as well as diabetic consumers. It has also shown a positive influence on bone and calcium balance in postmenopausal women. The wide-range of health-benefits connected to the consumption of soy proteins is aiding the global market growth of the plant-based protein.

The market for soy protein has been growing, globally, in regions like North America, Europe, Asia, Pacific, Latin America, and the Middle East and Africa due to the increasing demand for plant-based proteins resulting from the growing health awareness in these regions. Archer Daniels Midland Company (NYSE: ADM) and Ingredion (NYSE: INGR) are some of the major players within the soy protein industry. Ingredion is expected to launch its new plant-based protein ingredient by 2021, keeping in view that the plant-based protein trend is still at its early stages and is set for further and sustained growth. The company is set to invest USD 185 million by 2021 into its new manufacturing facility to produce its specialty plant-based protein ingredients.  These innovations address the rapidly growing consumer demand for sustainable protein alternatives. Archer Daniels Midland (ADM), another leading company dealing in soy protein, and Marfrig Global Foods have partnered to produce and market vegetable protein products in Brazil. While ADM will supply the main raw material to be used in the development of the plant-based products, Marfrig will manage the production, distribution, and selling of the plant-based meat alternative to restaurants and retailers. The aim of the partnership is to produce a 100% vegetable burger with a meat-like flavour and texture.

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Market Analysis by Type, Application, and Region:

• Soy protein can be divided into isolate, concentrate, and textured soy protein.
• Soy protein is used in bakery and confectionary, functional foods, pharmaceuticals, meat additives, and feed, among others.
• By region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of The Report:

• The global soy protein market is aided by the increasing demand for plant proteins by the consumers due to growing health awareness. 
• The rising demand for vegan diet is further driving the global soy protein market.
• The rising disposable incomes combined with rapid urbanisation is propelling the market forward.
• Changing consumption patterns is providing further impetus to the industry growth.

Key Offerings of the Report:

• The EMR report provides an overview of the global soy protein market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and regional markets of soy protein.
• It gives an in-depth look into the regional price trends in the global soy protein market for the periods (2018-2023) and (2024-2032).

Archer Daniels Midland Company, Nutrition & Biosciences, Cargill Incorporated, Wilmar International Limited, and CHS Inc., among others, are the major players in the global soy protein market. The comprehensive report looks into their capacity, market share, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds.

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