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Report Overview
The global soy protein market attained nearly USD 11.26 Billion in 2024. The market is expected to witness a healthy growth in the coming years and is projected to grow at a CAGR of 7.00% in the forecast period of 2025-2034. In 2034, the soy protein market is estimated to reach USD 22.15 Billion.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Soy Protein Market Size
The global soy protein market attained nearly USD 10.52 billion in 2023. The market is expected to witness a healthy growth in the coming years and is projected to grow at a CAGR of 7% in the forecast period of 2024-2032. In 2032, the soy protein market is estimated to reach USD 19.34 billion.
The soy protein market is being driven by the rising demand for plant proteins, globally. Soy protein is the largest segment in the plant-based proteins market. It accounts for nearly 60% of the market.
North America is the leading market for plant-based protein, accounting for the major share of the global market. The US is the major market in the region. In the US, soy protein was the most popular protein used in plant-based protein beverages. North America is followed by Europe and Asia as the other major markets for plant-based proteins, which together account for around half the global soy protein market.
The demand for soybean is pervasive across temperate and tropical regions and is a globally traded commodity as it is a significant source of vegetable oil and protein. The Americas, together, account for almost 90% of the total production of soybean, globally. The United States, Brazil, and Argentina are the major producers of soybean. China is also a significant producer of soybean globally and is also a leading importer of the commodity. However, the country is expanding its soybean output to reduce dependency on import.
Soy Protein Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the global soy protein market attained a value of nearly USD 11.26 Billion.
The market is projected to grow at a CAGR of 7.00% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach USD 22.15 Billion by 2034.
The major drivers of the market include the growing population, rising food market and the rising demand for plant proteins.
The soy protein market is being aided by growing trend of health and wellness diets, which require high-protein intake.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Isolate, concentrate and texturised soy protein are the leading types of the market.
Bakery and confectionery, functional foods, pharmaceuticals, meat additives, feed, among others are the leading applications in the market.
The major players in the market are Archer Daniels Midland Company, Nutrition & Biosciences, Cargill Incorporated, Wilmar International Limited, and CHS Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124