The Australia soy protein market size reached USD 43.30 Million in 2025. The market is expected to grow at a CAGR of 4.53% between 2026 and 2035, reaching USD 67.44 Million by 2035.
Base Year
Historical Period
Forecast Period
According to the USDA's findings, Australia's soybean production hit 42,000 tons during the 2022/23 season, fuelling the growth of the soy protein market in Australia.
As reported by the Australia Bureau of Statistics, the sales of dairy and meat substitutes from Australian supermarkets and other food retailers increased by an extra 14% in 2020-21, following the previous 14% rise seen between 2018-19 and 2019-20.
Early data from the National Nutrition Survey and other studies suggest that approximately 2% of Australians identify as vegan, contributing to the growing demand for soy protein in the Australian market.
Compound Annual Growth Rate
4.53%
Value in USD Million
2026-2035
*this image is indicative*
Textured soy protein drives the Australia soy protein market growth because it serves as a cost-effective protein source compared to meat, offering a budget-friendly option for both manufacturers and consumers
Textured soy protein (TSP) serves as a meat substitute in vegetarian products, replicating the texture of meat. It stands out as a cost-efficient protein source, adaptable to various flavours, low in fat, and environmentally sustainable, appealing to health-conscious and environmentally aware consumers.
In February 2022, Benson Hill, Inc., a food tech company leveraging natural plant genetic diversity, launched TruVail™, a series of domestically sourced, non-GMO plant-based protein ingredients. The brand's debut included high-protein soy flour and texturized proteins, appealing to traditional and burgeoning plant-based protein markets.
Isolated soy protein (ISP) offers a high protein content, improves texture, provides enhanced nutrition, extends shelf life, and is suitable for individuals with various dietary requirements, contributing to its popularity in the market.
"Australia Soy Protein Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Concentrate Market Breakup by Form
Market Breakup by Nature
Market Breakup by Application
Market Breakup by Distribution Channel
Market Breakup by Region
The Australia soy protein market key players are:
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The market was valued at USD 43.30 Million in 2025.
The market is projected to grow at a CAGR of 4.53% between 2026 and 2035.
The revenue generated from the soy protein market is expected to reach USD 67.44 Million in 2035.
The soy protein market is categorised according to type, which includes isolate, textured soy protein and concentrate.
The key players are Cargill Australia Financial Services Pty Limited, Halcyon Proteins Pty Ltd, ADM Asia-Pacific Trading Pte. Ltd., Ben Furney Flour Mills and Bulk Powders Pty Ltd. among others.
Based on the end nature, the market is divided into organic soy protein and conventional soy protein.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Form |
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| Breakup by Nature |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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