Market Highlights
The global soy protein ingredients market size is projected to be valued at USD 13.55 billion by 2028, recording a CAGR of 7.45% during the forecast period.The growth of the soy protein ingredients market size is anticipated to be driven by several factors during the forecast period. One of the key factors is the rising prevalence of lactose intolerance among consumers. The growing adoption of plant-protein ingredients among the food & beverages manufacturers, followed by a shift in consumer preference toward organic ingredients, has created new opportunities for soy protein ingredient manufacturers. However, the allergen reaction associated with soy is restraining the growth of the market.
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COVID-19 caused a sudden increase in demand for plant-based substitutes across the globe. Amidst the outbreak of the pandemic, many slaughterhouses have shut down. For instance, one of the largest meat producers, Tyson Foods, shut down two of its biggest pork plants in the US. Other competitors are facing similar scenarios. This has resulted in a gradual shift in demand for plant-based ingredients. The demand for plant-based food products is increasing at an exponential rate. In some regions, the demand is anticipated to reach the triple-digit growth rate. However, this growth rate is anticipated to be only temporary during the global pandemic crisis. Many plant-based food manufacturers and soy protein ingredients processors are seeing this global crisis as an opportunity to popularize plant-based foods across the globe. The rising awareness among individuals regarding the growth of harmful diseases from the wet markets is certainly anticipated to make a dent in red meat consumption and surge the demand for plant-based food, which is fueling the growth of the global soy protein ingredients market size.
Segmental Analysis
The global soy protein ingredients market size has been segmented based ontype, application, and region.
Based on type, the global soy protein ingredients market size has been segmented as soy protein concentrates, soy protein is olates, soy flours, and others. Soy protein concentrates arefurther divided into powder and textured soy concentrate. The soy protein concentrates segment accounted for the largest market share of 40.97% in 2020,whereas the soy protein isolates segment is expected to exhibit the highest CAGR of 5.10% during the review period.The most refined forms of soybean proteins, isolates, contain 90% or more protein. Soy protein isolate is a dietary protein isolated from soybeans that contain isoflavone phytoestrogens. Soy protein isolate is majorly used as an ingredient in various packaged foods, including protein bars, bread and baked goods, soups, and sauces.
Based on application, the global soy protein ingredients market size has been segmented into food & beverages, feed, and pharmaceuticals & nutraceuticals. The food & beverages segment is segmented into bakery & confectionery, meat alternatives, meat products, functional foods, dairy replacement products, infant nutrition, and others. The feed segment is further segmented into animal feed, pet food, and aqua feed. The food & beverages segment accounted for the major market share of 67.33% in 2020, whereas the feedsegment is expected to recordthe highest CAGR of 4.65% during the forecast period. Soy protein ingredients, especially soy protein concentrates and soy protein isolates, are an excellent source of easily digestible amino acids. They are ideal for pet food, animal feed, and aqua feed, where protein quality and nutritional value are important. Soy protein concentrate was mainly considered for animal feed. However, the abundance of soy protein isolates, mainly of Asian origin, has prompted many manufacturers to consider the ingredient forspecialty feed, such as milk replacers, piglet feeds, and broiler pre-starters. The increasing demand for plant protein sources in animal feed is driving the growth of the segment. The growth of the feed industry is also directly impacting the consumption of soy protein ingredients in animal feed. Also, in fish, 40-100% of fishmeal can be replaced by soy protein concentrate as they are a good protein source for aquafeeds. The increasing adoption of pets globally leading to innovation in the pet food industry with high plant-sourced protein, driving the sales of soy protein ingredients in the pet food industry. Soy protein ingredients are economical, which has also led to their widespread use in feed products.
Regional Analysis
Geographically, the global soy protein ingredients market size has been categorized as North America,Europe, Asia-Pacific,South America, and the Middle East & Africa. As per MRFR analysis, North America constituted a dominant share of the soy protein ingredients market size in 2020. Expanding the product portfolio of meat substitutes by the food processors is a significant factor for the rising growth of soy protein ingredients in the region. The US was the largest country-level market 81.42% share and was valued at USD 2,366.07 million in 2020.The demand for soy protein ingredients in the region is growing at an exponential rate.
Key Findings of the Study:
- The global soy protein ingredients market size is projected to register a growth rate of 4.56%from 2021 to 2028.
- The soy protein concentrates segment is estimated to retain its prominent share till2028,whereas the soy protein isolates segment is predictedtorecordthe highestCAGR of 5.10% during the forecast period.
- The food & beverages segment accounted for the largest market share in 2020 and is expected to grow at the highest rate of 4.53% during the forecast period,whereas the feedsegment is projected to recordthe highestCAGR of 4.65% during the forecast period.
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The current report on the Soy Protein Ingredients Market provides a comprehensive assessment of the business vertical and offers a comprehensive overview of the industry along with its key segments.
The study includes an accurate estimate of the current industry scenario along with the market size, market volume, and revenue garnered by the industry.
The report delivers radical data about the competitive landscape of the Soy Protein Ingredients industry and a thorough bifurcation of the regions where the Soy Protein Ingredients market has established a significant footing.
The competitive landscape includes extensive profiling and overview of prominent players of the Soy Protein Ingredients industry.The report studies the following companies in detail: Archer Daniels Midland Company (U.S.)I. du Pont de Nemours and Company (U.S.)Cargill (U.S.)CHS Inc. (U.S.)Kerry Group plc.
(Ireland)Wilmar International Ltd. (Singapore)Nisshin OilliO Group(Japan)Ruchi Soya Industries Ltd. (India)Ag Processing Inc. (U.S.)Devansoy (U.S.)The Scoular Company (U.S.).Radical Highlights of the Soy Protein Ingredients Market Report:The research report provides an accurate analysis of the product range, application spectrum, regional analysis, and competitive landscape of the Soy Protein Ingredients industry.The market is categorized on the basis of the types into:Soy protein concentratesSoy protein isolatesSoy floursOthersTextured soy proteinSoy gritsHydrolyzed soy proteinsBased on application, the Soy Protein Ingredients market is segmented into:FoodBakery & ConfectioneryMeat AlternativesFunctional FoodsDairy ReplacementsInfant FoodsOther Food ApplicationsFeedLivestockCattleSwinePoultryPet foodAquafeedThe report offers key details about the production volume and price analysis.The report further provides key insights into the market share held by each product and application in the Soy Protein Ingredients market.
The report also sheds light on the supply chains and the changes in the trends of the upstream raw materials and downstream distributors.The report explains the market share and sales volume of each company, along with the key details of the operations of these companies.
According to the current analysis of Reports and Data, the global Soy Protein Ingredients Market was valued at USD 9.7 Billion in 2018 and is expected to reach USD 16.6 Billion by the year 2026, at a CAGR of 6.9%.
They are used to produce high protein foods as they are concentrates of soy proteins.The report offers a thorough analysis of the regions with regards to production and consumption patterns, supply and demand dynamics, import/export, technological and product advancements, current and emerging trends, consumer demands, consumer behavior shifts, and presence of key market players in each region.
The report also covers a comprehensive country-wise analysis to impart better understanding of the scope and growth of the market.Get sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/1865Key Players:The global Soy Protein Ingredients market is highly fragmented with major players like Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Cargill, CHS Inc., Kerry Group plc., Wilmar International Ltd., Nisshin OilliO Group, Ltd., Ruchi Soya Industries Ltd., Ag Processing Inc., and Devansoy, among others, collectively constituting a competitive market.Further key findings from the report suggest:Soy protein isolates segment is expected to reach USD 5.3 billion by the year 2026, showing the highest growth during the forecast period.
Soy protein isolates are used for moisture retention and for enhancing the texture of food products.Soybeans contain all the essential amino acids that are necessary for human nutrition and have been produced and harvested for thousands of years.
Isoflavones are phytoestrogens that are dietary supplements and serve as raw materials to many food preparations.
Their consumption helps maintain blood vessel health.Soy grits are high protein high fiber, coarsely grounded toasted soybean.
