Global Soy Protein Market Report and Forecast 2022-2027

Global Soy Protein Market Report and Forecast 2022-2027

Market Outlook

The global soy protein market report by Expert Market Research (EMR) attained a value of nearly 9194.3 Million in 2021. Aided by the thriving food and beverage industry, the market is projected to further grow at a CAGR of 7.0% between 2022 and 2027 to reach about USD 15652.7 Million by 2027.

Soy-based food and beverage products, such as tofu, soy milk, and tempeh, among others, contain a primary protein known as soy protein. It is obtained from soybeans and an excellent source of protein, and contains vitamins and minerals. It is also rich in calcium, magnesium, and iron. The soy protein market is growing on account of its rising demand in the food industry owing to the increasing preference for meat and dairy alternatives in various food products.

Soy protein is gaining traction among vegetarians who are intolerant to dairy products. In addition to this, the rising trend of veganism owing to the growing awareness pertaining to animal cruelty is further propelling the demand for soy protein. The production of soy protein is anticipated to be bolstered by its surging demand from restaurants, hotels, and pubs, among others.

With soy protein being a rich source of vitamins, carbohydrates, and minerals, the increasing inclination towards health and fitness is boosting the soy protein market development. Soy protein also facilitates weight loss and adds good cholesterol to the body. Such favourable properties of the protein make it highly beneficial for diabetic and obese patients. In this regard, the increasing prevalence of obesity and diabetes mellitus is anticipated to accelerate the market in the coming years.

The growing expansion of the e-commerce industry is likely to significantly contribute to the demand for soy protein-based products. The increasing availability of products containing soy protein, such as tofu and tempeh, from online food delivery platforms is anticipated to fuel the soy protein market growth.

As soy protein contains an extensive amount of amino acid, it is increasingly utilised in animal feed to boost its nutritional profile and protein quality. The growing availability of soy protein in various formats such as extruded, dry powders, and granular, among others, is expected to bolster its use in animal feed applications. Moreover, some of the leading soy protein market trends include the growing demand for sustainably sourced soy protein, the rising preference for cost-effective plant-based protein solutions, and the increasing demand for high-quality meat alternatives.

The Asia Pacific, in terms of region, represents a significant share in the market on account of the rising population across emerging countries such as India and China. The increasing shift towards vegan diets in such countries is further strengthening the market growth. Moreover, the rapid urbanisation, the rising online purchasing power, and the increasing demand for high protein food and beverages in weight management in the region are likely to aid the market.

Meanwhile, the North America soy protein market is likely to project a promising growth owing to the rising obesity cases. The increasing manufacturing of soy protein in the region is anticipated to aid the market. Over the forecast period, the rising awareness regarding the health benefits of soy protein in reducing the risk of hypertension and cardiovascular diseases, among others, is expected to aid the market.

Market Segmentation

The market can be divided on the basis of type, application, and region.

Market Breakup by Type

• Isolate
• Concentrate
• Textured Soy Protein

Market Segmentation by Application

• Bakery and Confectionery
• Functional Foods
• Pharmaceuticals
• Meat Additives
• Feed
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the soy protein companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Cargill, Incorporated.
• Wilmar International Limited
• CHS Inc.
• Nutrition & Biosciences
• Archer Daniels Midland Company
• Others

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.