Soy Protein Ingredients Market Forecasts to 2028 – Global Analysis By Type (Soy Protein Concentrates, Soy Protein Isolates and Soy Protein Hydrolysates), Form (Dry, Liquid, Powder and Ready-to-Drink), Nature(Conventional and Organic), Function, Distributi

Soy Protein Ingredients Market Forecasts to 2028 – Global Analysis By Type (Soy Protein Concentrates, Soy Protein Isolates and Soy Protein Hydrolysates), Form (Dry, Liquid, Powder and Ready-to-Drink), Nature(Conventional and Organic), Function, Distributive channel, Application and By Geography

According to Stratistics MRC, the Global Soy Protein Ingredients Market is accounted for $7.33 billion in 2022 and is expected to reach $14.32 billion by 2028 growing at a CAGR of 11.8% during the forecast period. Soy protein is a complete source of protein found in soybeans that contains 90% protein and aids in weight loss, energy increase, and muscle building. Soy foods are comparable to animal proteins such as dairy products, eggs, and chicken and can help vegans, vegetarians, and flexitarians meet their protein needs. Soybeans are high in fiber, zinc, iron, calcium, and B vitamins, as well as all eight essential amino acids.

According to the Research Institute of Organic Agriculture, around 1.8 million farmers across 162 countries carried out organic cultivation on more than 37.0 million hectares of agricultural land in 2013. Growth in the organic food products market is also expected to boost the growth of the organic soy protein ingredients market.

Market Dynamics:

Driver:

Demand for a less expensive protein source

Soy protein availability has increased due to increased crop cultivation in developing regions such as South America and Asia Pacific, in addition to the already widespread cultivation across the globe. As a result, raw materials are easily obtained from contract farmers or oilseed crushers that offer soy meal. The low processing costs associated with soy protein ingredients are suitable for manufacturers' operational demands, allowing processors to spend more effectively on product development. As a result of these trends, soy proteins are less expensive than other protein sources like meat, dairy, and whey proteins.

Restraint:

GM-derived soy products are prohibited.

The cultivation of genetically modified crops is prohibited in developed regions such as Europe, where some European Union member states have passed laws prohibiting it. Among the important nations are Germany, France, Northern Ireland, and Scotland. The area's conventional soybean market has been impacted, and future expansion is expected to be hampered as a result. It is also expected to have an impact on soybean exports from developing countries such as Argentina, where GM-based soybean crops are the norm.

Opportunity:

Organic soy protein demand

The organic soy protein market has the potential to transform the overall soy protein ingredient market. According to the Research Institute of Organic Agriculture, in 2013, approximately 1.8 million farmers in 162 countries practiced organic agriculture on more than 37.0 million hectares of agricultural land. Growth in the organic food products market is expected to drive the organic soy protein ingredients market. Government and non-government organizations provide financial assistance, research and development programs, and subsidies to help traditional farmers transition to organic farming. These organizations include the Swiss Research Institute of Organic Agriculture, India's Agricultural and Processed Food Products Export Development Authority, and the United States Department of Agriculture. Organic food ingredients are in high demand in developed regions such as North America and Europe. Consumer preference for healthy products is increasing as consumers become more aware of the health benefits of eating organic foods. As a result, marketing campaigns highlighting their use and health benefit claims are being planned.

Threat:

Hormonal imbalance issues

Soy protein and soy protein powder contain phytates, which reduce the body's ability to absorb minerals. This could lead to health problems caused by a mineral deficiency. Soy isoflavones also act as goitrogens, which can disrupt thyroid function and thus influence hormone production. Soy protein also contains phytoestrogen, which is found naturally in plants and has estrogen-like properties that bind to estrogen receptors in the body. Soy protein consumption in excess may disrupt the body's normal hormone balance.

Covid-19 Impact:

The COVID-19-induced lockdowns and trade restrictions had an impact on the F&B sector and reduced product demand from the hospitality industry, particularly in 2020. On the other hand, the retail sector is thriving, and there is a shift toward nutritional plant-based food products. According to the IFIC Food and Health Survey 2020, nearly 85% of consumers have changed their eating habits and are interested in natural products.

The soy protein isolate segment is expected to be the largest during the forecast period

The soy protein isolate segment dominated the soy protein segment, accounting for approximately 44% of the total. The main reason for the high share is that, despite being edible, soy contains very little cholesterol and saturated fat. Soybeans are vegetable foods that contain all eight amino acids required for human growth. Soy protein isolates are a refined form of soy protein that contains 90% protein. It is used to improve the quality and texture of meat products. It is rarely sold in stores and is primarily used in the food industry. Because of its allergenic potential in the human body, soy protein isolate is less commonly used.

The personal care and cosmetics segment is expected to have the highest CAGR during the forecast period

The personal care and cosmetics segment is expected to grow at a CAGR of 5.9% in terms of revenue during the forecast period. Changing lifestyles, widespread consumer awareness of the importance of improving one's overall personality, rising GDP, and the use of natural ingredients in the manufacturing of cosmetics are expected to drive demand for the segment market. Countries such as the United States, France, and the United Kingdom are focusing on capturing market share in emerging regions. According to the International Trade Administration (ITA), Asian countries have a potential customer base of over three billion people and are the fastest-growing region for cosmetics and personal care products.

Region with highest share:

North America led the market, accounting for approximately 32% of global revenue in 2022. The strong presence of the region's key players, combined with favorable support for new technological advancements in soy and dairy protein, are factors contributing to the region's high market share. Over the last few years, the vegan population has increased demand for soy and dairy-based products. To meet rising consumer demand, major manufacturers are implementing a variety of strategies, including switching to an all-vegan product portfolio and launching new products.

Region with highest CAGR:

Asia-Pacific is expected to grow at a CAGR of 3.96%, generating USD 3,228.64 million during the forecast period. Because of the country's large vegetarian population, plant-protein ingredients like soy dominate the Indian market. The growing popularity of vegan snacks and their high nutritional profile is one of the major factors influencing the nation's demand for soy protein ingredients. Recent government initiatives, such as FDI in retail and smart city initiatives, are expected to drive growth in the soy protein products market and, as a result, the soy protein ingredients market. Textured soy protein is used in Indian rice recipes rather than soy flour, which is used in bread and regional foods such as sambar.

Key players in the market

Some of the key players in Soy Protein Ingredients market include AG Processing Inc, Archer Daniels Midland Company, Arla Foods amba, BIC Services, Cargill, Incorporated, Danone, Dean Foods, Devansoy Inc., DuPont Solae, E. I. du Pont de Nemours and Company, KELLOGG CO., Kerry Group plc, Manildra Group, Mead Johnson, MGP Ingredients, Inc., Natural Products Inc. , Nisshin Oillio Group, Ltd., Ruchi Soya Industries Ltd, The Nisshin OilliO Group Ltd and Wilmar International Limited.

Key Developments:

In April 2021, Fuji Oil Holdings Inc.'s Dutch subsidiary invested in UNOVIS NCAP II Fund, a major fund specializing in food technology. The company plans to contribute to a sustainable society using its processing technologies for plant-based food materials to tackle the issues consumers face across the world.

In March 2021, Fuji Oil Group appointed Mikio Sakai as the new president and CEO. Mikio Sakai is engaged in developing Plant-based Food Solutions as a core concept to grow a third business pillar, along with the Oil and Fat and Chocolate businesses. Plant-based Food Solutions include soy meat and soybeans, which are used as raw materials for plant-based protein.

In February 2021, Bunge has expanded its soy protein manufacturing plants by purchasing two soy processing plants from the local crusher Imcopa for USD 12 million, reinforcing its position as the country's biggest oilseed processor.

Types Covered:
• Soy Protein Concentrates
• Soy Protein Isolates
• Soy Protein Hydrolysates
• Textured Soy Protein
• Soy Flours
• Other Types

Form Covered:
• Dry
• Liquid
• Powder
• Ready-to-Drink
• Bars
• Capsules & Tablets
• Other Forms

Natures Covered:
• Conventional
• Organic

Functions Covered:
• Muscle Health
• Heart Health
• Weight Management
• Other Functions

Distributive channels Covered:
• Specialty Store
• Convenience Store
• E-Commerce/Online Sale Channel
• Supermarket/Hypermarket

Applications Covered:
• Food
• Feed

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements