Soy Protein Market Size, Share, Report Analysis 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Soy Protein Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global soy protein market share, size and  forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Soy Protein Market?

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.

What is Soy Protein?

Soy protein is a high-quality plant-based protein derived from soybeans. It is a highly versatile ingredient packed with nutrients and amino acids and is an excellent protein source for vegetarians and vegans. It offers a neutral taste, which allows it to seamlessly blend into numerous recipes without altering their flavor. It is categorized into three types – soy protein isolate, soy protein concentrate, and textured soy protein. It is used in preparing various food products such as dairy alternatives, meat alternatives, bakery goods, cereals, and protein bars. Additionally, as it offers numerous health benefits, such as aiding lower cholesterol levels, managing weight, and supporting muscle growth, the demand for soy protein is rising worldwide.

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

The escalating demand for plant-based proteins due to a shift towards healthier dietary patterns and increasing consumer awareness about the environmental impacts of meat production represents one of the key factors positively influencing the market.

Additionally, the rising population of vegans and flexitarians, coupled with rising lactose intolerance and allergies associated with animal proteins, is fueling the demand for soy protein. Moreover, the widespread adoption of soy protein in the food and beverage (F&B) industry to prepare various dishes is driving the market.

Furthermore, the expansion of the fitness and wellness industry, where soy protein is extensively used in dietary supplements, is creating a positive market outlook.

What is included in market 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

Market 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

Who are the key players operating in the industry?

The report covers the major market players including:

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

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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