According to Next Move Strategy Consulting, the global Soy Protein Ingredients Market size ispredicted to reach USD 12.25 billion by 2030 with a CAGR of 5.8% from 2024 to 2030.
Soy proteiningredients are derived from soybeans and are a popular plant-based protein source. They arecommonly used in food and beverage products as a replacement for animal-based protein sources or asa supplement to boost protein content.
Soy protein ingredients can be produced in various forms, including soy protein concentrate, soy proteinisolate, and textured soy protein. One of the major advantages of soy protein ingredients is that theycontain all essential amino acids required for the body. Soy protein ingredients are also low in fat,cholesterol-free, and contain a range of vitamins and minerals.
Additionally, soy protein ingredients have been linked to a range of potential health benefits, includingreducing the risk of heart disease and certain cancers, as well as aiding in weight management. Soyprotein ingredients are used in a variety of food and beverage products, including meat substitutes, dairyalternatives, energy bars, and nutritional supplements. They are also used as an ingredient in bakeryand snack products, such as bread, crackers, and granola bars.
Soy protein ingredients can improve the nutritional profile of these products by boosting protein contentand providing a range of other beneficial nutrients. In addition, soy protein ingredients are popularamong consumers following vegetarian or vegan diets, as they provide a plant-based protein source thatis free from animal products.
The growing adoption of soy proteins across the world owing to the high nutritional value of soy as theyare naturally cholesterol-free and low in saturated fat and cheaper alternative to animal proteins found inmeat, poultry, fish and seafood is driving the growth of soy protein ingredients market.
Moreover, the use of soy as animal feeds in livestock and poultry farms as a protein supplement andprimary energy source in poultry diets is further driving the soy protein ingredients market. Furthermore,increasing consumption of soy beverages across the world owing to the increasing health concernsamong people related to dairy based beverages and carbonated beverage is driving the growth of soyprotein ingredients market.
However, factors such as the presence of phytate antinutrients in soy that poses a risk for people withiron or zinc deficiency is restraining the growth of the market. On the contrary, introduction of organic soyprotein as they are rich in nutrients including B vitamins, fiber, potassium, magnesium, and high-quality proteins is expected to create ampleopportunities for the soy protein ingredients market in coming years.
The soy protein ingredients market share is segmented on the basis of type, nature, form, applicationand region. Based on type, the market is divided into soy protein isolates, soy protein concentrates, andsoy flours. On the basis of nature, the market is classified into organic soy proteins and conventional soyproteins. Based on form, the market is categorized into solid/dry and liquid.
On the basis of application, the market is classified into food and beverages, animal feed, nutrition &health supplements, and others. The food and beverage segment is further divided into bakery andconfectionery, meat alternatives, dairy alternatives, beverages, and others.
Based on distribution channel, the market is categorized into specialty & convenience stores and ecommerce. Regional breakdown and analysis of each of the aforesaid segments includes regionscomprising North America, Europe, Asia Pacific, and Rest of World (RoW).
North America holds the dominant share of the soy protein ingredients market, and is expected tocontinue its dominance during the forecast period. This is attributed to the factors such as highconsumption of bakery products such as breads,donuts and cakes in this region that uses soy flour as it increases water absorption of the dough,requires less mixing time and decreased fermentation time.
Moreover, the presence of major market players such as Dupont De Nemours Inc, Cargill Inc and ADMfurther boost the market growth for soy protein ingredients in this region
In addition, ADM and Benson Hill aim to make UHP soybeans a key player in the ingredients space,allowing plant-based food and beverage producers to meet demand for meat alternatives and otherproducts using soy as a key ingredient. Furthermore, in February 2020, Cargill launched a range ofplant-based patty such as soy patty and ground products for foodservice and retail sectors. It will beavailable in stock keeping units of 8-ounce soy patties with options of private label.
On the other hand, Europe is expected to show a steady rise in the soy protein ingredients market owingto the presence of high number of vegan people in countries such as the UK, Austria, Germany andSweden that depends on plant-based proteins such as soy to meet their protein requirements. Accordingto the statistics of Our World In Data, as of 2023, 11% of the total pupation in the UK is vegetarian. Itshows there is a significant opportunity for the demand for the soy protein ingredients across the regionthat follows vegetarianism.
Moreover, growing health awareness among people and the increasing adoption of soybased cereals,nutritional bars and functional beverages in the region is further driving the growth of soy proteiningredients market in this region.
Various market players operating in the soy protein ingredients industry includes Dupont De NemoursInc., Archer Daniels Midland (ADM), Cargill Inc, Kerry Group, Now Foods (Now Health Group, Inc.),Burcon Nutrascience Corporation, Sotexpro SA, Farbest Brands, Wilmar International, and CHS Inc.among others.
These market players are expanding production capabilities and launching numerous products acrossvarious regions to maintain their dominance in the soy protein ingredients market.
Moreover, in February 2022, Benson Hill launched high protein soy flour under the brand name TruVail.TruVail ingredients are sourced from Benson Hill's proprietary Ultra-High Protein (UHP) soybeans thatreduces the need for additional processing steps typically required to concentrate protein levels. Thislaunch will help Benson to expand its product portfolio and enhance its market presence.
KEY BENEFITS
The report provides a quantitative analysis and estimations of the soy protein ingredients marketfrom 2023 to 2030, which assists in identifying the prevailing industry opportunities.
The study comprises a deep dive analysis of the current and future soy protein ingredients markettrends to depict prevalent investment pockets in the market.
Information related to key drivers, restraints, and opportunities and their impact on the soy proteiningredients market is provided in the report.
Competitive analysis of the players, along with their market share is provided in the report.
SWOT analysis and Porter's Five Forces model is elaborated on in the study.
Value chain analysis in the market study provides a clear picture of the stakeholders' roles
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Soy Proteins Ingredients Market Outlook(2024-2030)
RandomThe Soy Protein Ingredients Market is anticipated to achieve a size of USD 12.25 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.8% from 2024 to 2030. The increasing global acceptance of soy proteins is attributed to their sign...
