Soy Protein Market

Market Overview: 

The global soy protein market size reached US$ 9.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2032, exhibiting a growth rate (CAGR) of 7.22% during 2024-2032. Increasing consumer awareness regarding the health benefits associated with soy protein, the rising prevalence of lifestyle diseases, and the growing focus on a healthy diet represent some of the key factors driving the market.

Soy protein is a type of protein derived from soybeans that is widely consumed as a dietary supplement. It contains essential amino acids that the human body requires for growth and maintenance. The process of making soy protein involves removing the fat and carbohydrates from soybeans, leaving behind a high-protein powder. The resulting soy protein isolate is commonly used in protein bars, shakes, and other supplements. It is a great source of protein for vegetarians and vegans and is also low in fat and contains no cholesterol, making it a heart-healthy choice. Regular consumption of soy protein can help reduce the risk of heart disease, minimize cholesterol levels, and promote healthy bones. Currently, there are a wide variety of product variants available, including soy protein isolate, soy protein concentrate, and textured soy protein.

Soy Protein Market Trends:

The global soy protein market is primarily influenced by the increasing consumer awareness regarding the health benefits associated with soy protein, such as its high nutritional value and potential to reduce cholesterol levels. Moreover, the rising prevalence of lifestyle diseases and a growing focus on healthy eating habits are propelling the market growth. Additionally, the expanding vegan and vegetarian population, along with the surging trend of plant-based diets, are fueling the market growth. Furthermore, the extensive product application in various industries, including food and beverages (F&B), pharmaceuticals, and food processing industries owing to its various functional properties, such as emulsification, foaming, and gelling, are boosting the market growth. Moreover, various advancements in food processing and ingredient technologies to enhance the quality, taste, and texture of soy protein products are providing an impetus to the market growth. Furthermore, government initiatives and regulations promoting the consumption of plant-based proteins, rapid advancements in processing technologies, rising disposable income, growing urbanization, changing dietary preferences and easy product availability in supermarkets, hypermarkets, and online retail stores are accelerating the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global soy protein market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, form, nature, distribution channel and application.

Type Insights:

• Isolate
• Concentrate
• Textured Soy Protein
   

The report has provided a detailed breakup and analysis of the global soy protein market based on the type. This includes isolate, concentrate, and textured soy protein. According to the report, the isolate segment dominates the market.

Form Insights:

• Powder
• Bars
• Ready-to-Drink
• Capsules and Tablets
• Others
   

The report has provided a detailed breakup and analysis of the global soy protein market based on the form. This includes powder, bars, ready-to-drink, capsules and tablets, and others. According to the report, the powder segment holds the largest market share.

Nature Insights:

• Organic Soy Protein
• Conventional Soy Protein
   

The report has provided a detailed breakup and analysis of the global soy protein market based on the nature. This includes organic soy protein and conventional soy protein. According to the report, the conventional soy protein segment spearheads the market.

Distributional Channel Insights:

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Stores
• Others
   

The report has provided a detailed breakup and analysis of the global soy protein market based on the distributional channel. This includes supermarkets/hypermarkets, convenience stores, online stores, and others. According to the report, the supermarkets/hypermarkets segment dominates the market.

Application Insights:

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

The report has provided a detailed breakup and analysis of the global soy protein market based on the application. This includes bakery and confectionery, functional foods, pharmaceuticals, meat additives, feed, and others. According to the report, the bakery and confectionery segment leads the market.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. As per the report, North America dominates the market. Some of the factors accelerating the North America soy protein market include increasing awareness regarding the health benefits of soy protein, inflating consumer expenditure power, and easy product availability in online retail stores.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global tattoo removal market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include A. Costantino & C. spa, Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, Crown Soya Protein Group, DuPont de Nemours Inc., Fuji Oil Co. Ltd., Smithfield Foods Inc, Sonic Biochem Extractions Pvt. Ltd, The Scoular Company and Wilmar International Ltd. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the global soy protein market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global soy protein market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the global soy protein industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.