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Soy Protein Ingredients Market Size By Product (Soy Isolate, Soy Concentrate, Soy Flour), By Nature (GMO, Non-GMO) By Application (Bakery & Confectionery, Meat Extenders & Alternatives, Functional Food, Infant Food, Dairy Replacer, Animal Feed [Poultry, Swine, Cattle, Aquaculture, Pet Food]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI5382
  • Published Date: Oct 2022
  • Report Format: PDF

Industry Overview

Soy Protein Ingredients Market size crossed a valuation of USD 5 billion in 2021. Due to the mounting demand for natural ingredients in animal feed products, the industry is set to witness 10% CAGR from 2022 to 2030.
 

Global Soy Protein Ingredients Market

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Soy protein is among the most versatile, nutritious, reliable, and economical sources of plant-based protein that has a broad spectrum of applications across the food and animal feed industries. The increasing demand for antibiotic-free meats coupled with the diversification of animal nutritional programs may promote industry growth over the forthcoming years.
 

The expansion of the animal feed industry will positively impact the penetration of soy protein ingredients between 2022 and 2030. However, the easy availability of alternative protein ingredients such as eggs, legumes, seeds, and lentils is anticipated to restrict the market growth. The rising intake of protein supplements and growing awareness about the same will help in reviving market size through 2030.
 

Positive health impacts to boost the demand for soy isolate

Soy Isolate Market

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Soy protein ingredients market soy isolate segment value will be over USD 5.5 billion by 2030, owing to the proven benefits of soy isolates in enhancing cardiovascular and gastrointestinal health while keeping cholesterol levels in control. Soy isolates are rich in antioxidants, vitamins, and minerals comprising zinc,  iron, and isoflavones that help prevent bone loss due to menopause or certain cancers. The increasing product application in several functional foods, infant formulas, and dairy alternatives due to its bland taste and low-fat content may increase segmental revenues.
 

Increasing vegan populace to bolster the adoption of Non-GMO protein ingredients

Non-GMO Soy Protein Ingredinets Market

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Non-GMO soy protein ingredients market share is likely to surpass USD 3.3 billion by 2030, driven by the proliferating demand for organic and chemical-free food products. There is an increased cognizance of non-GMO soy protein as an essential amino acid that provides complete protein for human nutrition. The expanding vegan and vegetarian populace and the growing prevalence of several food allergies, such as lactose intolerance, will bolster market share through 2030.
 

Growing popularity of plant-based foods to drive product demand from meat extenders & alternatives applicattions

Soy Protein Ingredinets Market from Meat Extenders & Alternatives Application

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Meat extenders & alternatives application segment recorded revenues worth more than 1.5 billion in 2021. Driven by the burgeoning demand-based plant-based meat alternatives due to rising food security concerns and accelerated transition towards more healthy and nutritional food substitutes, the segment will record over 10.5% CAGR between 2022 and 2030. According to the Good Food Institute, the retail market for plant-based food in the US reached USD 7.4 billion in 2021 from USD 6.9 billion in 2020. The flourishing landscape of the plant-based ingredients market may augment the industry growth.
 

Escalating fitness trends to boost product adoption across North America

North America Soy Protein Ingredinets Market

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North America soy protein ingredients market is speculated to record a valuation of over USD 3.5 billion by 2030. The growth of the regional industry is credited to the expanding vegan population and the subsequent rise in plant-based foods and drinks. People in the region have become more concerned about the environment and their food choices. The escalating transition toward a healthy lifestyle, backed by the increasing prevalence of several chronic diseases, will foster the adoption of soy protein ingredients across North America.
 

New product developments to fuel the competitive landscape

Major companies participating in the soy protein ingredients market are Cargill, Incorporated., DuPont de Nemours, Inc., ADM, CHS Inc., Wilmar International, US Nisshin Shokai, International Flavors & Fragrances, Inc., Now Foods, Sotexpro, Wilmar International, and others. These firms have been focusing on expanding their existing product line and new product development as part of their primary growth strategy.
 

For instance, in February 2022, Benson Hill, Inc. introduced TruVail, a new portfolio of non-GMO plant-sourced protein ingredients offering sustainability benefits. The product line comprises high-protein soy flour, which is a less processed soy protein ingredient, and texturized proteins for a spectrum of food applications. The new product range will help Benson Hill meet the requirements of the rapidly expanding alternative protein and plant-based protein markets.
 

Impact of COVID-19 on soy protein ingredients market share

The COVID-19 pandemic had a varied impact on the global market. The stringent lockdowns and trade restrictions caused supply chain disruptions across the F&B sector and reduced product demand from the hospitality industry, which impeded industry growth, especially during 2020. On the flip side, the flourishing outlook of the retail sector and the accelerating shift toward healthy and nutritional plant-based food products supported the market expansion. Also, with the eased-down lockdown mandates across several economies and the global supply chains being back on track, the industry is anticipated to witness lucrative growth through 2030.
 

By Product

  • Soy isolate
  • Soy concentrate
  • Soy flour

By Nature

  • GMO
  • Non-GMO

By Application

  • Bakery & confectionery
  • Meat extenders & alternatives
  • Functional food
  • Infant food
  • Dairy replacer
  • Animal feed
    • Poultry
    • Cattle
    • Swine
    • Aquafeed
    • Pet food
    • Others
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
    • Poland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Malaysia
  • Latin America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

Global Market size for Soy Protein Ingredients surpassed a valuation of USD 5 billion in 2021 and is poised to register over 10% CAGR from 2022 to 2030 due to increasing demand and uptake of natural and organic food products.

The soy isolate segment is anticipated to be worth more than USD 5.5 billion by 2030, owing to the superior nutritional composition of soy isolates and their ability to enhance cardiovascular and gastrointestinal health and control cholesterol levels.

The North America soy protein ingredients industry is poised to garner revenues worth over USD 3.5 billion by 2030, driven by growing health concerns and the escalating shift toward plant-based food ingredients.

Prominent enterprises participating in the soy protein ingredients industry are Cargill, Incorporated., DuPont de Nemours, Inc., ADM, CHS Inc., Wilmar International, US Nisshin Shokai, International Flavors & Fragrances, Inc., Now Foods, Sotexpro, Wilmar International, and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 326
  • Countries covered: 21
  • Pages: 200

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