Global Soy Protein Ingredients Market

Soy Protein Ingredients Market Size, Share, Growth Analysis, By Type(Soy protein concentrates, soy protein isolates, soy protein hydroisolates, and Others.), By Application(Food and Beverages, Animal Feed, Personal Care & Cosmetics, and Pharmaceuticals.), By Region - Industry Forecast 2024-2031

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

Soy Protein Ingredients Market Dynamics

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.
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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).

The 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. 'Archer Daniels Midland Company (US)', 'Cargill, Incorporated (US)', 'Wilmar International Limited (Singapore)', 'CHS Inc. (US)', 'DuPont de Nemours, Inc. (US)', 'Kerry Group plc (Ireland)', 'Fuji Oil Holdings Inc. (Japan)', 'The Scoular Company (US)', 'DowDuPont Inc. (US)', 'Victoria Group (Serbia)', 'Ruchi Soya Industries Limited (India)', 'The Solae Company LLC (US)', 'E.I. du Pont Canada Company (Canada)', 'CHS Agronegocios (Argentina)', 'Devansoy Inc. (US)', 'Shandong Yuwang Industrial Co., Ltd. (China)', 'SunOpta, Inc. (Canada)', 'Sonic Biochem Extractions Ltd. (India)', 'Shandong Sanwei Soybean Protein Co., Ltd. (China)', 'World Food Processing BV (Netherlands)'

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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Global Soy Protein Ingredients Market

Report ID: SQMIG30C2095

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