Soy Protein Ingredients Market by Types (Soy Concentrates, Textured Soy Protein, and Soy Isolates), Applications (Beverages, Meat Extenders and Substitutes, Bakery Products and Confectionery, Animal Feed and Pet Food, Nutritional Supplements, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Soy Protein Ingredients Market Outlook 2031
The global soy protein ingredients market size was valued USD 7.70 billion in 2022 and is expected to reach USD 14.16 Billion by 2031 expand at a significant CAGR 7% during the forecast period, 2023–2031. The growth of the market is attributed to the presence of alternative ingredients to the animal-based food chain.
Soy food is a good source of dietary protein, which depends on both amount present and quality used. Soy food is low in saturated fat. It is extracted from soybean, which is further defatted and dehulled. Defatted soybean is processed into three types of high protein, namely concentrates, isolates, and soy flour.
Soybean contain small amount of 2S albumin protein and legume protein, and also constitute of biologically active proteins such as cysteine proteases, trypsin inhibitors, enzymes, and hemagglutinins. Soy protein is healthy for all age groups.
Soy Protein Ingredients Market Trends, Drivers, Restraints, and Opportunities
- Increasing preference toward vegan diet is anticipated to spur the growth of the market.
- Proliferation of soy protein across the food & beverage industry is estimated to contribute to the market growth.
- Cost-effectiveness of soy protein and its expensive nature than animal protein is anticipated to propel the growth of the market.
- Existence of dangerous chemicals in soy protein and its negative effects on hormones can hamper the growth of the market.
- Development in soy protein ingredient containing different flavors can create opportunities in the market.
Scope of The Soy Protein Ingredients Market Report
The report on the global soy protein ingredients market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Soy Protein Ingredients Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Types (Soy Concentrates, Textured Soy Protein, and Soy Isolates) and Applications (Beverages, Meat Extenders and Substitutes, Bakery Products and Confectionery, Animal Feed and Pet Food, Nutritional Supplements, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Kerry Group PLC, DuPont de Nemours Inc.; Cargill Inc.; The Scoular Company; and Archer Daniels Midland |
Soy Protein Ingredients Market Segment Insights
Soy Isolates segment to hold a significant market share
On the basis of types, the market is divided into soy concentrates, textured soy protein, and soy isolates. The soy isolates segment is anticipated to grow at a steady rate during the forecast period due to presence of humongous amount of protein among different types of protein. This type is highly dissolvable in milk and is deliberated as a premium ingredient. Different use of soy isolates such as low fat content, oligosaccharides, bland taste, and fibers is further driving the segment growth.
Meat extenders and substitutes segment to expand at a robust CAGR
In terms of applications, the market is segregated as beverages, meat extenders and substitutes, bakery products and confectionery, animal feed and pet food, nutritional supplements, and others. The meat extenders and substitutes segment is estimated to grow at a rapid pace in the projected timeline.
Increasing health awareness among the consumers owing to rising inclination toward plant-based protein products rather than animal protein products. Soy concentrate and isolates are used for other applications in meat industry such as gelation, emulsion stabilization, emulsification, and water & fat binding.
North America is anticipated to constitute a key market share
Based on regions, the market is segregated into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period due to lack of balanced dietary intake, change in lifestyle, and growing focus of manufacturers on research and development on different types of soy protein enriched products.
On the other hand, the market of Asia Pacific is anticipated to expand at a high CAGR owing to rising inclination toward vegan diet.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Soy Protein Ingredients Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Soy Protein Ingredients Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Soy Protein Ingredients Market - Supply Chain
4.5. Global Soy Protein Ingredients Market Forecast
4.5.1. Soy Protein Ingredients Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Soy Protein Ingredients Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Soy Protein Ingredients Market Absolute $ Opportunity
5. Global Soy Protein Ingredients Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Soy Protein Ingredients Market Size and Volume Forecast by Types
5.3.1. Soy Concentrates
5.3.2. Textured Soy Protein
5.3.3. Soy Isolates
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Soy Protein Ingredients Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Soy Protein Ingredients Market Size and Volume Forecast by Applications
6.3.1. Beverages
6.3.2. Meat Extenders and Substitutes
6.3.3. Bakery Products and Confectionery
6.3.4. Animal Feed and Pet Food
6.3.5. Nutritional Supplements
6.3.6. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Soy Protein Ingredients Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Soy Protein Ingredients Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Soy Protein Ingredients Demand Share Forecast, 2019-2026
8. North America Soy Protein Ingredients Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Soy Protein Ingredients Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Soy Protein Ingredients Market Size and Volume Forecast by Types
8.4.1. Soy Concentrates
8.4.2. Textured Soy Protein
8.4.3. Soy Isolates
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Soy Protein Ingredients Market Size and Volume Forecast by Applications
8.7.1. Beverages
8.7.2. Meat Extenders and Substitutes
8.7.3. Bakery Products and Confectionery
8.7.4. Animal Feed and Pet Food
8.7.5. Nutritional Supplements
8.7.6. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Soy Protein Ingredients Demand Share Forecast, 2019-2026
9. Latin America Soy Protein Ingredients Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Soy Protein Ingredients Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Soy Protein Ingredients Market Size and Volume Forecast by Types
9.4.1. Soy Concentrates
9.4.2. Textured Soy Protein
9.4.3. Soy Isolates
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Soy Protein Ingredients Market Size and Volume Forecast by Applications
9.7.1. Beverages
9.7.2. Meat Extenders and Substitutes
9.7.3. Bakery Products and Confectionery
9.7.4. Animal Feed and Pet Food
9.7.5. Nutritional Supplements
9.7.6. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Soy Protein Ingredients Demand Share Forecast, 2019-2026
10. Europe Soy Protein Ingredients Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Soy Protein Ingredients Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Soy Protein Ingredients Market Size and Volume Forecast by Types
10.4.1. Soy Concentrates
10.4.2. Textured Soy Protein
10.4.3. Soy Isolates
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Soy Protein Ingredients Market Size and Volume Forecast by Applications
10.7.1. Beverages
10.7.2. Meat Extenders and Substitutes
10.7.3. Bakery Products and Confectionery
10.7.4. Animal Feed and Pet Food
10.7.5. Nutritional Supplements
10.7.6. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Soy Protein Ingredients Demand Share Forecast, 2019-2026
11. Asia Pacific Soy Protein Ingredients Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Soy Protein Ingredients Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Soy Protein Ingredients Market Size and Volume Forecast by Types
11.4.1. Soy Concentrates
11.4.2. Textured Soy Protein
11.4.3. Soy Isolates
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Soy Protein Ingredients Market Size and Volume Forecast by Applications
11.7.1. Beverages
11.7.2. Meat Extenders and Substitutes
11.7.3. Bakery Products and Confectionery
11.7.4. Animal Feed and Pet Food
11.7.5. Nutritional Supplements
11.7.6. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Soy Protein Ingredients Demand Share Forecast, 2019-2026
12. Middle East & Africa Soy Protein Ingredients Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Soy Protein Ingredients Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Soy Protein Ingredients Market Size and Volume Forecast by Types
12.4.1. Soy Concentrates
12.4.2. Textured Soy Protein
12.4.3. Soy Isolates
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Soy Protein Ingredients Market Size and Volume Forecast by Applications
12.7.1. Beverages
12.7.2. Meat Extenders and Substitutes
12.7.3. Bakery Products and Confectionery
12.7.4. Animal Feed and Pet Food
12.7.5. Nutritional Supplements
12.7.6. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Soy Protein Ingredients Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Soy Protein Ingredients Market: Market Share Analysis
13.2. Soy Protein Ingredients Distributors and Customers
13.3. Soy Protein Ingredients Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Kerry Group PLC
13.4.2. DuPont de Nemours Inc.
13.4.3. Cargill Inc.
13.4.4. The Scoular Company
13.4.5. Archer Daniels Midland