What is the global market size of Soy Protein Ingredients Market?

Global Soy Protein Ingredients Market size was valued at USD 4.46 billion in 2021 and is poised to grow from USD 7.6 billion in 2022 to USD 12.96 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

Soy Protein Ingredients Market Size, Share, Growth Analysis, By Type (Soy Protein Concentrates, Soy Protein Isolates), By Form (Dry, Liquid), By Nature (Conventional, Organic), By Function, By Region - Industry Forecast 2025-2032

Report ID: SQMIG30C2095 | Region: Global | Published Date: November, 2024
Pages: 157 | Tables: 65 | Figures: 75

Soy Protein Ingredients Market Dynamics

Soy Protein Ingredients Market Drivers

Growing Preference for Clean Label Products

There is a growing consumer inclination towards clean label products that are devoid of artificial ingredients, additives, and allergens. Soy protein ingredients, as a natural and allergen-free protein source, perfectly align with this consumer demand for transparent and clean labelling. As a result, the adoption of soy protein ingredients in the food and beverage industry is being driven by this trend.

Soy Protein Ingredients Market Restraint:

Allergenic Potential

Although soy protein is seen to be hypoallergenic overall, individual allergies, intolerance, and other sensitivities associated with the use of the product make it unsafe or unideal for those to whom these allergies refer, which restricts how its usage in certain types of food is allowed due to these possibilities. Allergy rates being higher within various geographic zones, high concern has been taken upon monitoring these potential allergies appropriately.

Soy Protein Ingredients Market Report Snapshots

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Global Soy Protein Ingredients Market size was valued at USD 7.60 billion in 2022 and is poised to grow from USD 8.14 billion in 2023 to USD 14.09 billion by 2031, growing at a CAGR of 7.10% during the forecast period (2024-2031).

The global soy protein ingredients market is highly competitive and characterised by the presence of numerous players offering a wide range of soy protein products and solutions. These players strive to gain a competitive edge through various strategies, such as product innovation, expansion of production capacities, and strategic partnerships. The competitive landscape is influenced by factors such as market consolidation, technological advancements, and shifting consumer preferences. 'ADM ', 'Wilmar International Ltd ', 'Cargill, Incorporated ', 'International Flavors & Fragrances Inc. ', 'CHS Inc. ', 'BRF Global ', 'Fuji Oil Holdings Inc. ', 'Devansoy ', 'Crown Soya Protein Group Company ', 'AG Processing Inc. ', 'The Scoular Company ', 'Titan Biotech ', 'Linyi Shansong Biological Products Co., Ltd ', 'Foodchem International Corporation ', 'Farbest Tallman Foods Corporation ', 'Now Foods ', 'Sotexpro ', 'Shandong Sinoglory Health Food Co., Ltd ', 'Process Agrochem Industries Pvt Ltd ', 'Nordic Soya Oy '

There is a growing consumer inclination towards clean label products that are devoid of artificial ingredients, additives, and allergens. Soy protein ingredients, as a natural and allergen-free protein source, perfectly align with this consumer demand for transparent and clean labelling. As a result, the adoption of soy protein ingredients in the food and beverage industry is being driven by this trend.

Growing Demand for Plant-based Proteins: This is due to a number of factors, including the growing health consciousness among consumers, the increasing popularity of vegetarian and vegan diets, and the rising awareness of the environmental impact of animal agriculture. As the demand for plant-based proteins continues to grow, the demand for soy protein ingredients is also expected to grow. Soy protein is a versatile ingredient that can be used in a wide variety of food and beverage products, making it a good choice for manufacturers who are looking to meet the needs of consumers who are seeking plant-based alternatives.

North America currently holds the dominant position owing to the notable shift in consumer preferences towards plant-based protein sources, with soy protein being a popular choice. Factors such as the rising adoption of vegetarian and vegan diets, growing awareness about the health benefits of soy protein, and the presence of major market players contribute to the dominance of North America. Additionally, the region has a well-established food and beverage industry that incorporates soy protein ingredients into a wide range of products, including meat substitutes, dairy alternatives, snacks, and bakery items.

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Soy Protein Ingredients Market Size, Share, Growth Analysis, By Type (Soy Protein Concentrates, Soy Protein Isolates), By Form (Dry, Liquid), By Nature (Conventional, Organic), By Function, By Region - Industry Forecast 2025-2032

Soy Protein Ingredients Market Dynamics

Soy Protein Ingredients Market Report Snapshots

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What is the global market size of Soy Protein Ingredients Market?

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