Soy Protein Market Report, Industry Analysis and Forecast 2023-2028

How is the Soy Protein Market Worth?

The global soy protein market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.27% during 2023-2028.

Soy protein refers to a protein that is isolated and processed from dehulled and defatted soybean meal. It is available in several forms, including powder, capsules, tablets, bars, etc. These soy protein products are a rich source of oligosaccharides, fibers, and amino acids. They have low-fat content, high dispersibility, extended shelf life, and enhanced stability. Soy protein ingredients exhibit excellent gelling, absorbing, binding, and whipping properties which make them ideal for diverse cooking applications. Consequently, they are extensively utilized in bakery and confectionery, functional foods, animal feed, pharmaceuticals, meat additives, etc.

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What is the growth prospects and trends in the soy protein industry?

The shifting preferences from animal-based proteins to plant-based proteins, on account of the emerging trend of veganism and the growing consciousness about animal cruelty, are primarily driving the soy protein market. Apart from this, the elevating adoption of protein-rich diets, owing to the widespread health and wellness programs, is also positively influencing the market growth.

Moreover, the launch of advanced food processing technologies and the increasing usage of the product as a competitive source of protein in animal feed are further augmenting the global market. In addition to this, the escalating product utilization as a key ingredient in the formulation of infant food and formulae is acting as another significant growth-inducing factor.

Besides this, the expanding food and beverage segment, the inflating investments by key market players in research and development (R&D) activities to produce cost-effective and high-in-nutrition product variants, and the rising requirement for functional foods are expected to propel the soy protein market in the coming years.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:
• Isolate
• Concentrate
• Textured Soy Protein

Breakup by Form:
• Powder
• Bars
• Ready-to-Drink
• Capsules and Tablets
• Others

Breakup by Nature:
• Organic Soy Protein
• Conventional Soy Protein

Breakup by Distribution Channel:
• Supermarkets/Hypermarkets
• Convenience Stores
• Online Stores
• Others

Breakup by Application:
• Bakery and Confectionery
• Functional Foods
• Pharmaceuticals
• Meat Additives
• Feed
• Others

Breakup by Region:
• 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

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Some of the Top Key players in the soy protein market

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.

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This release was published on openPR.