Soy Protein Market Trends, Top Companies, Share, Growth And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Soy Protein Global Market Report 2023 identifies increasing vegan population as the major driver for the soy protein market's growth in the forecast period. A vegan diet excludes animal products such as fish, dairy, meat, and eggs. Vegan and flexitarian diets are becoming more popular as the plant-based business has developed and people becoming more conscious of the difficulties surrounding meat production. With a surge in the vegan population, there is an increase in demand for soy protein as people seek to add soy protein to their diet to maintain a protein balance.

The global soy protein market size grew from $8.31 billion in 2022 to $9.15 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The soy protein market size is expected to grow to $12.49 billion in 2027 at a CAGR of 8.1%.

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Major competitors in the soy protein market are Brookdale Senior Living Inc., Sunrise Senior Living, Atria Senior Living Group, Life Care Centers of America, Erickson Living.

A key trend in the soy protein market includes technological advancement. Companies in the soy protein industry are working on new technology to improve the oil, protein, and sustainability profiles of soybeans, and increase the nutritious content of soy protein products. Players in the market are trying to capture a more customer base by improving the quality of soy protein products. For instance, in April 2021, ZeaKal, a US-based company engaged in developing technologies to promote higher levels of healthier oils across several crops, introduced a PhotoSeed technology to improve the oil, protein, and sustainability profile of soybeans. PhotoSeed technology improves the soy protein levels as it captures better carbon and overall nutritional composition.

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The soy protein market is segmented -
• By Product Type : Soy Protein Concentrates, Soy Protein Isolates, Textured Soy Protein, Soy Flour, Grits, And Chunks

• By Nature: Organic Soy Protein, Conventional Soy Protein

• By Form : Powder, Ready to Drink, Bars, Capsules And Tablets, Other Forms

• By Application : Bakery And Confectionery, Meat Alternatives, Functional Foods, Dairy Replacers, Infant Foods, Other Applications

• By Distribution Channel : Specialty Store, Convenience Store, E-Commerce Or Online Sale Channel, Supermarket Or Hypermarket

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the soy protein market.

The Business Research Company's "Global Soy Protein Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Soy Protein Market Include:
1. Executive Summary
2. Soy Protein Market Characteristics
3. Soy Protein Market Trends And Strategies
4. Soy Protein Market - Macro Economic Scenario
5. Soy Protein Market Size And Growth
……
26. Africa Soy Protein Market
27. Soy Protein Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Soy Protein Market
29. Soy Protein Market Future Outlook and Potential Analysis
30. Appendix

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