Global Soy Protein Ingredients Market Size to Reach USD 19.5 Billion By 2028

25-Apr-2022 | Facts and Factors

According to the Facts & Factors report, the global soy protein ingredients market was worth about 10.9 (USD billion) in 2021 and is predicted to grow to around 19.5 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 7.2%.

Soy protein ingredients are organic foods that are used in food processing. Dehulled and defatted soybean meal is used to make them. Dehulled and defatted soybeans are frequently processed into three high-quality proteins: soy flour, soy protein isolates, and soy protein concentrate. Consumers' shift from animal proteins to plant-based proteins is a driving force fueling the global soy protein ingredients market's growth.

Browse the full “Soy Protein Ingredients Market By Type (Soy Protein Flours, Soy Protein Concentrates, and Soy Protein Ingredients Isolates), By Application (Infant Foods, Animal Feed, Dairy Replacers, Functional Foods, Meat Alternatives, Bakery & Confectionery, and Others), and By Region-Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022–2028" report at https://www.fnfresearch.com/soy-protein-ingredients-market

Soy protein's functional and nutritional properties have made it suitable for a wide range of applications, including bakery, confectionery, dairy replacers, emulsion-type sausages, nutritional bars, functional beverages, and cereals, which are propelling the market for soy protein ingredients. Soy proteins are used as a substitute for dairy and meat products, which helps manufacturers control costs and improve product profitability. Furthermore, a growing vegan population, especially in the developed world, as well as a growing trend of the benefits that come with vegan diets, as well as an increasing demand for plant-based proteins, have resulted in a large demand for soy protein. This is yet another factor driving the demand for the soy protein ingredients market.

Furthermore, potential advantages of a vegan diet include relatively low levels of cholesterol & blood pressure, a lower risk of heart disease, and a lower body mass index. As a result, rising product awareness is propelling the soy protein ingredients market forward. On the other hand, the restriction on genetically modified crops in some regions, such as Europe, has had a negative effect on the traditional soy protein ingredients market, which is likely to impede its growth. Furthermore, the unpleasant odor of soy products has made them unsuitable for usage; this off-flavor of soy is caused by the existence of ketones, aldehydes, alcohols, and furans in them. As a result, the off-flavor of the products is expected to limit the growth of the soy protein ingredients market. Nonetheless, advancements in the palatable flavors of soy ingredients are projected to augment the soy protein ingredients market in the coming years.

The global soy protein ingredients market is segregated on the basis of type, application, and region. By type, the market is divided into soy protein flour, soy protein concentrates, and soy protein ingredient isolates. Because of the highest amount of protein present in soy protein isolates and various benefits of soy isolates like low-fat content, bland taste, oligosaccharides, and fiber, the soy protein isolates segment is predicted to grow at the fastest rate during the forecasted period. By application, the market is divided into infant foods, animal feed, dairy replacers, functional foods, meat alternatives, bakery & confectionery, and others. Among all the segments, the "animal feed" segment is projected to expand the fastest during the projected timeframe.

Because of changing consumer lifestyles and a lack of balanced dietary intake, the North American soy protein ingredient market is growing at the fastest rate. The United States is the region's largest market, followed by Canada. With increased awareness of the health benefits of organic products, particularly plant-based types, the global soy protein ingredient market in North America is expected to grow over the forecast period. In addition, the Asia Pacific region is expected to grow at a double-digit CAGR during the projected period, with China and India driving the growth. The rise in the consumer market for nutritional foods is one factor driving China and India's market growth. Other regions, such as Africa and the Middle East, have small markets for soy protein ingredients. However, these regions are expected to grow only moderately during the forecast period.

Report Scope

Some of the main competitors dominating the global soy protein ingredients market are Cargill Health & Food Technologies, Dean Foods Company, Kraft Foods Group Inc., Bunge Alimentos SA, MGP Ingredients, E. I. du Pont de Nemours and Company, Archer Daniels Midland (ADM) Company, Kellogg Company, Omega Protein Corporation, Kerry Ingredients Inc., Doves Farm Foods, George Weston Foods, Gelita Group, Manildra Group, Armor Proteins, and Burcon NutraScience.

Recent Developments

• July 2020: DuPont launched a plant-based Planit portfolio to expand product options. Plant proteins, cultures, hydrocolloids, fibers, probiotics, antioxidants, food protection, natural extracts, enzymes, and emulsifiers, as well as custom-made systems, are all part of the new line. These ingredients can be used to co-create meat and dairy alternatives, but the company's goal is to increase plant-based consumption by offering an ingredient forum for companies diversifying into new formats and subgroups that broaden the plant-based food space. The aforementioned advancement would benefit all sources, including soy, pea, and almond, among others.
• March 2020: To contend with soy protein concentrates in final products, Benson Hill introduced "ultra-high" soybeans. To achieve the roughly equivalent levels of protein found in soy protein concentrate, the variation would involve extremely low water and processing. According to company analysis, the manufacturing and processing of soy protein concentrate is a water and energy-intensive process. To avoid this problem, Benson Hill has developed a soybean variety that has up to 50% more protein at crop standard than current yields.

The global soy protein ingredients market is segmented as follows:

By Type

• Soy Protein Flours
• Soy Protein Concentrates
• Soy Protein Ingredients Isolates

By Application

• Infant Foods
• Animal Feed
• Dairy Replacers
• Functional Foods
• Meat Alterations
• Bakery & Confectionery
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Reunion
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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