Global Soy Protein Ingredient Market Report and Forecast 2024-2032

Global Soy Protein Ingredient Market Outlook

The global soy protein ingredient market stood at a value of around USD 8.86 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 2.7% to reach USD 11.3 billion by 2032.

Soy Isolates Segment Based on Type Holds a Significant Share in the Global Soy Protein Ingredient Industry

Based on type, the soy isolates segment accounts for a significant share in the market owing to the growing utilisation of soy protein isolates for infant foods, breakfast cereal, and processed meats. Additionally, soy isolate is an affordable protein option that can be easily added to one’s diet to help boost energy, build muscle, or lose weight. It is widely utilised to prepare food products for people inclined towards health and fitness. Moreover, soy isolate can help maintain hormonal balance and reduce the risk of breast cancer, heart disease, and osteoporosis, thereby aiding the market growth.

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The Asia Pacific Accounts for a Significant Share of the Soy Protein Ingredient Industry

The soy protein ingredient industry in the Asia Pacific is driven by the growing availability of soy protein-based products in the region, owing to the rapid development of supermarkets and hypermarkets and retail stores. The changing consumer lifestyle owing to their hectic and busy schedule is anticipated to augment the market growth in the region. Furthermore, the rapid investments by the manufacturers and the increasing demand for animal-based protein alternatives are anticipated to further propel the market growth.

Soy Protein Ingredient Market Segmentation

Soy protein ingredient is defined as a type of protein which is extracted from soybeans. Soy protein ingredient is considered a healthy option owing to its nutritional profile. In addition to this, soy protein ingredient can also be consumed in the form of powder and are utilised in tofu, tempeh, and soy milk, among others.

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Based on type, the market can be segmented into:

• Soy Isolates
• Soy Concentrates
• Textured Soy Protein

The major applications of the product include:

• Bakery Products and Confectionery
• Meat Extenders and Substitutes
• Nutritional Supplements
• Beverages
• Animal Feed and Pet Food
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Thriving Food and Beverage Industry to Boost the Growth of the Soy Protein Ingredient Industry

The global soy protein ingredient industry is driven by the thriving food and beverage industry, which is being supported by factors like rising disposable incomes, increasing population, and the rising demand for clean-labelled food products. In addition to this, the increasing inclination of consumers towards health and fitness and muscle building is anticipated to propel the demand for soy protein ingredients. Moreover, the increasing consumer preference for vegan products is likely to enhance the popularity of plant-based protein, which, in turn, is expected to significantly contribute to the industry growth in the forecast period.

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Key Industry Players in the Global Soy Protein Ingredient Market

The report gives a detailed analysis of the following key players in the global soy protein ingredient market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Archer Daniels Midland Company
• The Scoular Company
• Wilmar International Ltd
• FUJI OIL HOLDINGS INC.
• Sonic Biochem Limited
• Farbest-Tallman Foods Corporation
• Foodchem International Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report