Soy Protein Market Report 2025

The soy protein market size has grown strongly in recent years. It will grow from $11.05 billion in 2024 to $11.67 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to the strong economic growth in emerging markets, growing number of health-conscious consumers, rising awareness associated with benefits of plant-based protein food products, shift towards vegan eating and growth in dietary supplements.

The soy protein market size is expected to see strong growth in the next few years. It will grow to $14.44 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to government initiatives towards plant-based protein, change in preference of consumers for meat alternatives, increasing adoption of plant-based meat on menus, rising penetration of organized retail, increase in lactose intolerance and rapid growth in ecommerce. Major trends in the forecast period include on developing new technology to improve the oil, protein, and sustainability profile, focusing on plant-based protein ingredients, using artificial intelligence (AI) to analyze phytonutrients for potential health benefits, focusing on high yield raw materials to reduce processing time and resource consumption and increasing investments in soy protein.

The growing vegan population is driving the expansion of the soy protein market. A vegan diet excludes animal products such as fish, dairy, meat, and eggs. As plant-based diets gain popularity, vegan and flexitarian lifestyles are becoming more widespread, with increasing awareness of the challenges associated with meat production. This rise in the vegan population has led to a higher demand for soy protein, as individuals seek to incorporate it into their diets to achieve a balanced protein intake. For example, in January 2023, a study reported by Food Manufacture, a UK-based internet publishing company focusing on the food and drink processing sector, indicated that the number of vegans in the UK increased by 1.1 million between 2023 and 2024. Research from Finder also showed that the vegan population in the UK reached 2.5 million over the past year, accounting for 4.7% of the adult population. Thus, the increase in the vegan population is anticipated to propel the growth of the soy protein market in the coming years.

The growth trajectory of the soy protein market receives a substantial boost from government-driven initiatives aimed at acknowledging the nutritional significance of alternative protein sources, particularly in public health programs emphasizing the shift away from animal-based foods. The promotion of soy protein foods aligns with providing balanced nutrition to vegan children, addressing their dietary requirements. For instance, in June 2021, the Indian government, in collaboration with The Good Food Institute (GFI) India, launched the 'India Smart Protein Innovation Challenge,' aimed at fostering innovation in plant-based and cultivated foods. This initiative is open to students, researchers, and entrepreneurs, offering participants the opportunity to receive backing, investment, or endorsements from industry leaders. Similarly, the Japanese government proposed the adoption of meat alternatives to curtail carbon emissions, striving toward achieving a decarbonized society by 2050. Furthermore, the U.S. Food and Drug Administration (FDA) established that a daily intake of 25 grams of soy protein could potentially reduce blood cholesterol levels by around 12%, highlighting its potential in mitigating heart disease risks as part of a diet low in saturated fat and cholesterol. These governmental endeavors are expected to fuel the demand for soy protein in the foreseeable future.

Major companies in the soy protein market are investing in new technologies, such as the CropOS technology platform, to enhance crop yields, improve nutritional profiles, and promote more sustainable farming practices. The CropOS technology platform is an advanced agricultural system that utilizes data analytics and artificial intelligence to optimize crop performance and sustainability. For example, in February 2022, Benson Hill, Inc., a US-based food tech company, introduced TruVail™ ingredients sourced from its proprietary Ultra-High Protein (UHP) soybeans. These soybeans require fewer processing steps than traditional soy protein concentrate (SPC), making them a more sustainable choice.

Enterprises operating within the soy protein market are intensifying their financial commitments to expand production capacities. These increased investments are channeled toward bolstering production capabilities by embracing cutting-edge technologies and refining operational processes. ADM, a prominent American multinational engaged in food processing and commodities trading, exemplifies this trend. In April 2022, ADM directed an investment of approximately $300 million toward augmenting soy protein concentrate production at its Decatur, IL facility. Additionally, the company is set to inaugurate a new Protein Innovation Center in Decatur, reinforcing its prowess in alternative protein solutions. This strategic investment aligns with the company's objective of meeting the escalating global demand for sustainable alternative proteins.

In January 2022, Benson Hill, Inc., a US-based agricultural technology company, has acquired ZFS Creston, LLC, for an undisclosed amount. This acquisition is intended to strengthen Benson Hill's capabilities in sustainable agriculture and broaden its portfolio of innovative food products. ZFS Creston, LLC, is a US-based manufacturer specializing in dairy products.

Major companies operating in the soy protein market include Archer-Daniels-Midland Company, Wilmar International Limited, CHS Inc, Cargill Incorporated, Fuji Oil Company Ltd, International Flavors & Fragrances Inc, Royal Ingredients Group, Solbar Ningbo Protein Technology Co.Ltd., Nordic Soya Oy, Sonic Biochem, Vyas Bio Life Sciences Private Limited, Krungthep Trading Co. Ltd, Bw Binyuy Holdings (Pty) Ltd, Solitude Global Impex, Nutra Healthcare, Curemax Pharma, STDM Food & Beverages Private Limited, Titan Biotech Ltd, Halcyon Proteins, WuXi Biologics, FOODCHEM, Sun Green Group, Alfa Laval, Shandong Yuxin Soybean Protein Co, Jinan Grace Industry Co. Ltd, The BakeRite Company, Soya UK, Ingredients UK, Bion Corporation, Lantmannen, Kerry Group PLC, Biesterfeld AG, A. Costantino & C. S.P.A, Sojaprotein, Green Wise, Welldone, Roquette, Salconserv, Latraps, Vaks, Sbfoodinno, Benson Hill, Bunge Limited, DuPont de Nemours Inc, Green Labs LLC, Axiom Foods Inc, Ingredion Incorporated, Parabel, Burcon NutraScience Corporation, Glanbia plc, De Alimentos, Adm Do Brasil Ltda, Tomorrow Foods, Koita FZE, At Al Islami Foods, Blue Diamond Growers Inc, Daiya Foods Inc, Earth's Own Food Company Inc, Soy Africa Limited, Eden Foods Inc, Freedom Foods Group Ltd, The Hain Celestial Group Inc, Sunopta Inc.

North America was the largest region in the Soy Protein market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the soy protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the soy protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Soy protein is a protein derived from soybeans, known for its high protein content and associated benefits such as weight loss, increased energy, and muscle building. Widely utilized in various cuisines, including vegetarian dishes, salad dressings, soups, and meat substitutes, soy protein's functional characteristics, particularly emulsification and texturizing, make it a versatile ingredient.

The primary product categories in the realm of soy protein include soy protein isolates, soy protein concentrates, textured soy protein, and soy flour, grits, and chunks. Soy protein isolate, containing around 90% protein, stands out as a particularly valuable form used to enhance texture and eating quality in meat ingredients. Soy protein is available in different forms such as powder, ready-to-drink, bars, capsules, tablets, and others, and it comes in various natures, including organic soy protein and conventional soy protein. The diverse applications of soy protein encompass bakery and confectionery, meat alternatives, functional foods, dairy replacers, infant foods, among others. These products are distributed through multiple channels, including specialty stores, convenience stores, e-commerce platforms, and traditional supermarkets or hypermarkets.

The soy protein market research report is one of a series of new reports that provides soy protein market statistics, including soy protein industry global market size, regional shares, competitors with a soy protein market share, detailed soy protein market segments, market trends and opportunities, and any further data you may need to thrive in the soy protein industry. This soy protein market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The soy protein market consists of sales of textured soy protein, soy protein isolates, soy protein concentrates, and other soy protein products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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