World Class Research Report Of Soy Protein Ingredients Market 2023-2032

The global soy protein ingredients market is estimated to be valued at USD 7.7 billion in 2022. It is projected to reach USD 10.8 billion by 2027, recording a CAGR of 7.0% during the forecast period. Soy protein ingredients are produced by processing soymeal to obtain ingredients with higher protein concentrations, which can be used as a protein source in a range of food and animal feed applications. The demand for soy protein ingredients is growing in the food and animal feed industries, owing to their health benefits and functional properties.

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Increased crop cultivation in developing regions such as South America and Asia Pacific, in addition to the already widespread cultivation across the globe, has increased the availability of soy proteins. Raw materials are, therefore, easy to obtain from contract farmers or oilseed crushers offering soy meal. The low processing costs associated with soy protein ingredients are suitable for the operational demands of manufacturers and thereby allow the processors to spend effectively on product development.

The organic soy protein market has the potential to change the business landscape in the overall soy protein ingredients market. According to the Research Institute of Organic Agriculture (FiBL), 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. Government and non-government organizations offer financial aid, R&D programs, and subsidies to support traditional farmers in switching to organic farming. These organizations include the Research Institute of Organic Agriculture, Switzerland (FiBL), the Agricultural & Processed Food Products Export Development Authority (APEDA) in India, and the US Department of Agriculture (USDA) in the US.

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Soy protein isolates are used not only to improve the texture of meat products but also to increase protein content, enhance moisture retention, and emulsify. The additional benefit of using soy protein isolates is their bland taste and high protein content; also, they are low in fat, oligosaccharides, and fiber, causing less flatulence due to bacterial fermentation. They are considered significant ingredients by food industries for their functional benefits. The food industry is the largest user of pure SPI, which is also used in the health/pharmaceutical industry.

The soy protein ingredients market in Asia Pacific is projected to witness strong growth driven by large economies, such as China, India, Japan, and Australia. The level of overall investment in the region has increased substantially over the past decade, especially in China. The region has also witnessed a rise in vegan food consumption in recent years.

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Key Market Players
The key players in this market include ADM (US), Wilmar International Co., Ltd. (Singapore), Cargill, Incorporated (US), CHS, Inc. (US), and Fuji Oil Holdings Inc (Japan)

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This release was published on openPR.