Soy protein is considered as a complete protein supplement, which is composed of all nine essential amino acids. These proteins are versatile in their usage and are widely applicable in infant foods, bakeries & confectioneries, and dairy products. Moreover, functional beverages, such as wine, use soy as a key ingredient in their production processes. Soy protein ingredient is considered to be the finest substitute for animal protein. It comprises amino acids and is rich in fiber, calcium, iron, potassium, polyunsaturated fats, lecithin, magnesium, and vitamin B, thus exhibiting health-related benefits and functional properties. In addition, it is used as emulsifier, gel, tenderizer, binder, stabilizer, and thickener in the food & beverage processing industry.
One of the major factors that drive the growth of the global soy protein ingredients market includes rise in health consciousness and increase in awareness regarding the disadvantages of protein deficiency. In the present world, majority of the population is engaged in deskbound jobs, which has led to adoption of sedentary lifestyle, primarily among the youth. As functional foods are efficient in mitigating the problems that grow or develop due to sedentary lifestyle and owing to the adoption of non-optimal eating habits, a attracted large number of consumers have been adopting soy protein ingredients, thereby augmenting the market growth. Moreover, the cost of health care has mounted due to which consumers prefer to stay healthy. Therefore, this factor has led to rise in consumption of healthy and plant-based meals among the working youth, which helps them to stay healthy and fit.
Currently, the global soy protein ingredients market witnesses numerous opportunities due to increase in usage of dairy ingredients/alternatives among consumers globally, rise in use of soy protein ingredients as a wellness trend, and surge in high-quality protein supplements in the food industry. In addition, increase in popularity of soy supplements among youngsters, rise in consumption of pediatric milk especially in emerging countries, and advancements in the production technologies are some key factors that accelerate the global market growth. Furthermore, Asia-Pacific and Latin America fuel the demand for soy protein ingredients, owing to increase in number of working women and health concerned population. However, lack of standardization of regulation, fluctuation in soybean prices, and issues associated with increase in prevalence of diseases among soybean plants are anticipated to hamper the market growth.
On the contrary, key players of the soy protein ingredients market are entering into the animal feed segment to increase in focus on the quality of animal food products to upgrade the food chain, which is anticipated to offer remunerative opportunities for the market growth during the forecast period. Being identified as the leading sector in agriculture, aquaculture producers are moving ahead to make huge investments in the soy protein ingredient. Besides aquaculture producers, livestock farmers further appreciates the health benefits offered by the usage of soy protein concentrate to animal feeds, which is likely to foster soy protein ingredients market growth during the forecast period.
The global soy protein ingredients market is segmented into type, application, and region. Depending on type, it is classified into soy protein isolates, soy protein concentrates, and soy flours. The soy protein concentrate segment dominated the global market in 2020, and is anticipated to maintain its dominance throughout the forecast period. On the basis of application, the market is segregated into bakeries & confectioneries, meat alternatives, functional foods, dairy replacers, infant foods, and others.
The infant foods application segment is estimated to grow at a significant CAGR of 6.2% during the forecast period. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for more than 35% share of the total revenue in 2020, followed by Europe and Asia-Pacific.
The players operating in the global soy protein ingredients market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the soy protein ingredients market include AG Processing Inc., Archer-Daniels-Midland Company, Cargill, Inc., CHS Inc., Doves Farm Foods Ltd., E. I. Du Pont De Nemours and Company (Dupont Nutrition And Health), Kerry Group, Plc., Kraft Heinz Company, the Kellogg Company, and Wilmar International Limited.
Soy protein ingredients Market Segments
One of the major factors that drive the growth of the global soy protein ingredients market includes rise in health consciousness and increase in awareness regarding the disadvantages of protein deficiency. In the present world, majority of the population is engaged in deskbound jobs, which has led to adoption of sedentary lifestyle, primarily among the youth. As functional foods are efficient in mitigating the problems that grow or develop due to sedentary lifestyle and owing to the adoption of non-optimal eating habits, a attracted large number of consumers have been adopting soy protein ingredients, thereby augmenting the market growth. Moreover, the cost of health care has mounted due to which consumers prefer to stay healthy. Therefore, this factor has led to rise in consumption of healthy and plant-based meals among the working youth, which helps them to stay healthy and fit.
Currently, the global soy protein ingredients market witnesses numerous opportunities due to increase in usage of dairy ingredients/alternatives among consumers globally, rise in use of soy protein ingredients as a wellness trend, and surge in high-quality protein supplements in the food industry. In addition, increase in popularity of soy supplements among youngsters, rise in consumption of pediatric milk especially in emerging countries, and advancements in the production technologies are some key factors that accelerate the global market growth. Furthermore, Asia-Pacific and Latin America fuel the demand for soy protein ingredients, owing to increase in number of working women and health concerned population. However, lack of standardization of regulation, fluctuation in soybean prices, and issues associated with increase in prevalence of diseases among soybean plants are anticipated to hamper the market growth.
On the contrary, key players of the soy protein ingredients market are entering into the animal feed segment to increase in focus on the quality of animal food products to upgrade the food chain, which is anticipated to offer remunerative opportunities for the market growth during the forecast period. Being identified as the leading sector in agriculture, aquaculture producers are moving ahead to make huge investments in the soy protein ingredient. Besides aquaculture producers, livestock farmers further appreciates the health benefits offered by the usage of soy protein concentrate to animal feeds, which is likely to foster soy protein ingredients market growth during the forecast period.
The global soy protein ingredients market is segmented into type, application, and region. Depending on type, it is classified into soy protein isolates, soy protein concentrates, and soy flours. The soy protein concentrate segment dominated the global market in 2020, and is anticipated to maintain its dominance throughout the forecast period. On the basis of application, the market is segregated into bakeries & confectioneries, meat alternatives, functional foods, dairy replacers, infant foods, and others.
The infant foods application segment is estimated to grow at a significant CAGR of 6.2% during the forecast period. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for more than 35% share of the total revenue in 2020, followed by Europe and Asia-Pacific.
The players operating in the global soy protein ingredients market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the soy protein ingredients market include AG Processing Inc., Archer-Daniels-Midland Company, Cargill, Inc., CHS Inc., Doves Farm Foods Ltd., E. I. Du Pont De Nemours and Company (Dupont Nutrition And Health), Kerry Group, Plc., Kraft Heinz Company, the Kellogg Company, and Wilmar International Limited.
Soy protein ingredients Market Segments
By Type
- Soy protein isolates
- Soy protein concentrates
- Soy flours
By Application
- Bakery & confectionary
- Meat alternatives
- Functional foods
- Dairy replacers
- Infant foods
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Spain
- UK
- Italy
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Soy Protein Ingredients Market, by Type
Chapter 5: Soy Protein Ingredients Market, by Application
Chapter 6: Soy Protein Ingredients Market, by Region
Chapter 7: Competition Landscape
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Soy protein ingredients Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The soy protein ingredients market was valued at $9,594.0 million in 2020, and is projected to reach at $15,303.9 million by 2030, registering a CAGR of 4.4% from 2021 to 2030. The soy protein concentrate segment accounted for more than 50% of the total market share in 2020. Soy proteins are derived from soybean meal, which is defatted and dehulled. Defatted & dehulled soybeans are processed into three types of high-protein commercial products, including soy protein concentrates, soy protein isolates, and soy flours.Currently, the global soy protein ingredients market is witnessing significant growth, due to increase in awareness among consumers for protein-rich diet. In addition, consumption of soy protein concentrate powder as a supplement has increased, owing to regular recommendations by dieticians & doctors in response to a wider set of customer demand for protein supplements in their diets. Soy protein concentrate is a nutritional supplement manufactured after the soy is dehulled & defatted. The percentage of protein in lower end concentrates ranges from 30% to 90%.
However, availability of alternatives such as whey protein ingredients and increase in inclination of consumers toward high-quality animal protein are some factors anticipated to hamper the market growth.
On the contrary, rise in requirement of dietary supplements and animal feed (rich in plant-based protein) is expected to offer potential growth opportunities for the global soy protein ingredients market.
The oldest segment of the population consumes most of the food supplements, including protein, vitamins, calcium, and other supplements to delay aging disorders and effects.
Moreover, with time, the rate of development of red blood cells in the body decreases that increases the susceptibility to many diseases, which is the factor responsible for surge in demand for protein ingredients. In animal feed, the requirement for protein is basic and does not rely over any age group, however, the awareness regarding its requirement in animals and the effects due to its deficiency is still less and rising. The deficiency among animals may reduce appetite in young animals, lower feed intake, and delay muscle development, thus taking prolonged time to reach maturity. In mature animals, weight loss and decreased milk production have been observed. Therefore, rise in demand for animal feed rich in plant proteins drives the growth of the market for soy protein ingredients.
Moreover, active and health-conscious consumers have shifted their preference toward natural alternatives from caffeinated and sugar-based energy drinks. Protein ingredients possess specific nutrients and supplements, which improvise athletic performance and metabolism. Appropriate nutrition is an essential prerequisite for effective improvement of athletic performance, recovery from fatigue after exercise, and prevention of injury. Therefore, the demand for plant-based proteins has grown rapidly due to their nutritional properties, which has propelled the growth of the soy protein ingredients market.
The global soy protein ingredients market is segmented into type, application, and region. Depending on type, it is classified into soy protein isolates, soy protein concentrates, and soy flours. The soy protein concentrate segment dominated the global market in 2020, and is anticipated to maintain its dominance throughout the forecast period. On the basis of application, the market is segregated into bakeries & confectioneries, meat alternatives, functional foods, dairy replacers, infant foods, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for more than 35% share of the total revenue in 2020, followed by Europe and Asia-Pacific.
Key Findings Of The Study
- By type, the soy protein concentrate segment dominated the market in 2020, and is expected to gain maximum market share in the coming years
- On the basis of application, the infant food segment is anticipated to grow with a moderate CAGR during the forecast period
- Region wise, North America led in terms of market share in 2020, and is expected to retain its dominance during the forecast period
- The report focuses on the soy protein ingredients market growth prospects, restraints, and opportunities of the global Soy protein ingredients market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the soy protein ingredients market. The players operating in the global soy protein ingredients market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the soy protein ingredients market include AG Processing Inc., Archer-Daniels-Midland Company, Cargill, Inc., CHS Inc., Doves Farm Foods Ltd., E. I. Du Pont De Nemours and Company (Dupont Nutrition and Health), Kerry Group, Plc, Kraft Heinz Company, the Kellogg Company, and Wilmar International Limited
Companies Mentioned
- AG Processing Inc.
- Archer-Daniels-Midland Company
- Cargill, Inc.
- CHS Inc.
- Doves Farm Foods Ltd.
- E. I. Du Pont De Nemours and Company (Dupont Nutrition and Health)
- Kerry Group, Plc.
- Kraft Heinz Company
- the Kellogg Company
- Wilmar International Limited.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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