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, trends, and growth 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 are soy protein?
Soy protein ingredients are derived from soybeans that have undergone a process of isolation and extraction from defatted and dehulled soybean meal. They are a cost-effective source of protein and offer oligosaccharides, fibers, and amino acids similar to those found in other legume pulses. These protein ingredients are known for their high protein content, extended shelf life, and stability across various food products. As a result, soy protein finds extensive applications in producing different food items, such as weaning foods, dairy replacements, bakery and confectionery products, flatbreads, soups and sauces, ground meat, and specialty items across the globe.
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What are the growth prospects and trends in the soy protein industry?
The global soy protein market is primarily driven by shifting consumer preferences from animal to plant-based proteins and the increasing popularity of veganism. Moreover, the rising promotion of protein-rich diets through health and wellness programs is positively influencing the market growth.
Additionally, numerous technological advancements in food processing techniques are other major growth-inducing factors. Besides this, the increasing utilization of soy protein as a competitive source of protein in animal feed has catalyzed market growth. Furthermore, the surging adoption of soy protein ingredients in infant food and formula production is contributing to market growth.
Other factors, including ongoing research and development (RD) activities, rapid expansion in the food and beverage industry, and inflating consumer disposable incomes, are also anticipated to drive the market further.
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:
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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