New York, United States , May 15, 2023 (GLOBE NEWSWIRE) -- The Global Soy Protein Ingredients Market Size is to grow from USD 7.6 Billion in 2022 to USD 14.9 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.9% during the projected period. Because of their beneficial health effects and functionality, soy protein ingredients are in high demand in the food and animal feed industries. It's also a less expensive option than animal protein. In comparison to other vegetable proteins, the market for soy protein ingredients is expected to grow faster during the forecast period.
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Soy protein ingredients are made from soybeans and are widely used as a protein source in a variety of applications such as meat substitutes, dairy substitutes, baked goods, and nutritional supplements. Soy protein ingredients are created by processing soymeal to obtain higher protein levels that can be used as a protein source in a variety of agricultural and food applications. The global soy protein ingredients market is expanding rapidly, owing to rising demand for plant-based proteins in food and beverage products. Due to its high protein content and functional properties, soy protein isolate is the most commonly used soy protein ingredient. In addition, soy protein concentrate and textured soy protein are used in a variety of applications. The implementation of new and improved soy protein ingredient manufacturing methods has made it easier and more cost-effective to produce superior soy protein ingredients. This has increased the market availability of soy protein ingredients and contributed to its growth. However, the global soy protein ingredients market is governed by a number of regulations concerning food safety, labeling, and import/export restrictions. These regulations can be complex, affecting the availability and pricing of soy protein ingredients in various regions, and potentially limiting market growth.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Soy Protein Ingredients Market Size, Share, and COVID-19 Impact Analysis, By Type (Soy Protein Isolates, Soy Protein Concentrates, Textured Soy Protein, and Soy Flours), By Application (Food and Feed), By Form (Dry and Liquid), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The soy protein isolates segment is expected to hold the largest share of the global soy protein ingredients market during the forecast period.
The global soy protein ingredients market is divided into four categories: soy protein isolates, soy protein concentrates, textured soy protein, and soy flours. Soy protein isolates is projected to have the largest share of the global soy protein ingredients market during the forecast period. The reason for this increase is that soy protein isolates are used not only to improve the appearance of meat-based products, but also to increase protein content, improve moisture retention, and emulsify.
The food segment is expected to hold the largest share of the global soy protein ingredients market during the projected period.
The global soy protein ingredients market can be separated into two applications: food and feed. The food segment is expected to account for the largest share of the global soy protein ingredients market during the forecast period. The increase can be attributed to the fact that soy protein ingredients are widely used in the food industry due to their nutritional value, functional properties, and low cost.
The dry segment is expected to hold the largest share of the global soy protein ingredients market over the forecast period.
The global soy protein ingredients market is divided into two types: dry and liquid. Because of the convenience and versatility offered by dry soy protein ingredients in various applications, the dry segment is expected to hold the largest share of the global soy protein ingredients market. They are found in a wide range of food products, including meat substitutes, dairy substitutes, bakery products, snacks, and nutritional supplements. Dry soy protein ingredients have a long shelf life, are easy to store and transport, and are versatile in a variety of applications.
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Asia Pacific is estimated to hold the largest share of the global soy protein ingredients market over the predicted timeframe.
Asia Pacific is anticipated to hold the largest share of the global soy protein ingredients market over the projected timeframe. Because of its growing population, increasing disposable income, changing dietary habits, and growing demand for healthy and sustainable food products, the Asia Pacific region is the largest market for soy protein ingredients. China, India, and Japan are the region's major markets for soy protein ingredients, owing to rising demand in the food and beverage industries as well as the expansion in the animal feed industry. North America is projected to expand at the fastest rate in the market for soy protein ingredients, owing to high demand for plant-based protein sources, rising health consciousness among consumers, and the growing popularity of vegetarianism and veganism. The United States is the region's largest market for soy protein ingredients, owing to rising demand for soy protein ingredients in the food and beverage industries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Soy Protein Ingredients Market include Wilmar International Ltd, ADM, Cargill, Incorporated, CHS Inc., International Flavors & Fragrances Inc., Devansoy, AG Processing Inc., Farbest Tallman Foods Corporation, The Scoular Company, Linyi Shansong Biological Products Co., Ltd, Now Foods, Bremil Group, Crown Protein Soya Group Company, Taj Agro International, and Others.
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Recent Developments
In February 2022, Benson Hill, Inc., a food technology company that unlocks plants' natural genetic diversity, has revealed the launch of TruVail, a new line of domestically sourced, non-GMO plant-based protein ingredients with distinct sustainability benefits. The initial TruVail product line includes high protein soy flour, a less processed equivalent to soy protein concentrate (SPC), and texturized proteins for use in traditional soy protein applications as well as rapidly growing alternative plant-based protein markets.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Soy Protein Ingredients Market based on the below-mentioned segments:
Global Soy Protein Ingredients Market, By Type
- Soy Protein Isolates
- Soy Protein Concentrates
- Textured Soy Protein
- Soy Flours
Global Soy Protein Ingredients Market, By Application
- Food
- Feed
Global Soy Protein Ingredients Market, By Form
- Dry
- Liquid
Global Soy Protein Ingredients Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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