Soy Protein Ingredients Market

Soy Protein Ingredients Market Size, Share, Growth (2023-2028)

Soy Protein Ingredients Market size was worth USD 7.11 billion in 2022 and is estimated to be growing at a CAGR of 7.3%, to reach USD 10.12 billion by 2028.

Overview:

Soy protein is obtained from soybeans after extraction of oil. Soy Protein is used for the fortification of many food products and as an alternative to dairy protein. It is extensively used as a meat extender and as a quality substitute for meat. This legume is one of the few plant proteins that contains all eight essential amino acids. High functional properties of the soy protein ingredient and eco-friendly and natural health benefits drive the demand for soy protein during the forecast period.

Moreover, it is more cost-effective than animal protein and reflects the same protein content. This is expected to enhance the adoption of soy protein across various end-use industries resulting in increasing the shelf life of processed food, so it is also considered as the most sustainable protein ingredient. This in turn boosts the market. However, the allergic nature of soy protein ingredients is restraining its growth during the forecast period. Moreover, the negative impact of genetically modified (GM) soy coupled with the availability of various alternatives such as milk proteins, pea proteins, and other animal proteins is also affecting the growth of soy protein ingredients in the forecast period. 

Soy Protein Ingredients Market Report Statistics:

Soy Protein Ingredients Market Segmentation:

The Soy Protein Ingredients market is broadly categorized into

• type 

• application

By type

• Soy protein isolates

• soy protein concentrates

• soy flours

Soy protein isolates dominate the market followed by soy protein concentrates. By application, the market is classified into bakery and confectionery, meat alternatives, functional foods, dairy replacement, infant foods, and other applications. The functional food segment dominates the Soy Protein Ingredients market.

Soy Protein Ingredients Market Regional Analysis:

On the basis of geography, the market is analyzed under various regions namely North America, Europe, Asia-Pacific, and the Rest of the World. The market was dominated by North America followed by Europe. The Asia Pacific and Latin America regions are expected to register a high CAGR.

Soy Protein Ingredients Market key players:

1. Archer Daniels Midland (ADM) Company,

2. Dean Foods Company,

3. Armor Proteins,

4. Gelita Group,

5. Bunge Alimentos SA,

6. Kerry Ingredients Inc.,

7. Burcon NutraScience,

8. Cargill Health & Food Technologies,

9. E. I. du Pont de Nemours and Company,

10. Kellogg Company,

11. Doves Farm Foods,

12. Kraft Foods Group Inc.,

13. Manildra Group,

14. MGP Ingredients,

15. Omega Protein Corporation,