San Francisco, May 19, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Soy Protein Ingredients Market - Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global Soy Protein Ingredients Market size & share was witnessed USD 10.9 billion in 2021and it is expected to surpass around USD 19.5 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 7.2% during the forecast period 2022 to 2028.”
What are Soy Protein Ingredients? How big is the Soy Protein Ingredients Industry?
Market Overview:
Soy protein ingredients are organic foods that are used in food processing. Dehulled and defatted soybean meal is used to make them. Dehulled and defatted soybeans are frequently processed into three high-quality proteins: soy flour, soy protein isolates, and soy protein concentrate. Consumers' shift from animal proteins to plant-based proteins is a driving force fueling the global soy protein ingredients market's growth.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
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- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 10.9 Billion |
| Projected Market Size in 2028 | USD 19.5 Billion |
| CAGR Growth Rate | 7.2% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Cargill Health & Food Technologies, Dean Foods Company, Kraft Foods Group Inc., Bunge Alimentos SA, MGP Ingredients, E. I. du Pont de Nemours and Company, Archer Daniels Midland (ADM) Company, Kellogg Company, Omega Protein Corporation, Kerry Ingredients Inc., Doves Farm Foods, George Weston Foods, Gelita Group, Manildra Group, Armor Proteins, and Burcon NutraScience, among others |
| Key Segment | By Type, Application, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Global Soy Protein Ingredients Market: Dynamics
Growth Drivers:
- Consumers’ growing demand for healthy food products
Soy protein's functional and nutritional properties have made it suitable for a wide range of applications, including bakery, confectionery, dairy replacers, emulsion-type sausages, nutritional bars, functional beverages, and cereals, which are propelling the market for soy protein ingredients. Soy proteins are used as a substitute for dairy and meat products, which helps manufacturers control costs and improve product profitability. Furthermore, a growing vegan population, especially in the developed world, as well as a growing trend of the benefits that come with vegan diets, as well as an increasing demand for plant-based proteins, have resulted in a large demand for soy protein. This is yet another factor driving the demand for the soy protein ingredients market.
Furthermore, potential advantages of a vegan diet include relatively low levels of cholesterol & blood pressure, a lower risk of heart disease, and a lower body mass index. As a result, rising product awareness is propelling the soy protein ingredients market forward.
Restraints:
- Restriction on GMO crops in Europe has hurt the traditional soy protein ingredients business
The restriction on genetically modified crops in some regions, such as Europe, has had a negative effect on the traditional soy protein ingredients market, which is likely to impede its growth. Furthermore, the unpleasant odor of soy products has made them unsuitable for usage; this off-flavor of soy is caused by the existence of ketones, aldehydes, alcohols, and furans in them. As a result, the off-flavor of the products is expected to limit the growth of the soy protein ingredients market. Nonetheless, advancements in the palatable flavors of soy ingredients are projected to augment the soy protein ingredients market in the coming years.
Opportunities:
- Population growth creates opportunity
Soy protein is formed of several components, thus it can expand quickly. Due to expanding populations and incomes, especially in developing Asia-Pacific nations, these markets are expected to grow strongly if product availability and affordability are improved.
Browse the full “Soy Protein Ingredients Market By Type (Soy Protein Flours, Soy Protein Concentrates, and Soy Protein Ingredients Isolates), By Application (Infant Foods, Animal Feed, Dairy Replacers, Functional Foods, Meat Alternatives, Bakery & Confectionery, and Others), and By Region-Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022–2028” Report at https://www.fnfresearch.com/soy-protein-ingredients-market
Soy Protein Ingredients Market: COVID-19 Impact Analysis
Because of government laws and constraints on staying at home during the pandemic, authorities were unable to check soy protein contents as efficiently as before. Due to the outbreak, some laboratory testing was permitted, subject to the constraints of social distancing and lower raw material and employee availability.
Due to the pandemic's prolonged consumer propensity toward health and wellbeing, a certain boost in income is predicted to remain in the post-COVID future.
Soy Protein Ingredients Market: Segmentation Analysis
The global soy protein ingredients market is segregated on the basis of type, application, and region.
Type Segment Analysis
- On the basis of type, the market is divided into soy protein flour, soy protein concentrates, and soy protein ingredient isolates.
- Because of the highest amount of protein present in soy protein isolates and various benefits of soy isolates like low-fat content, bland taste, oligosaccharides, and fiber, the soy protein isolates segment is predicted to grow at the fastest rate during the forecasted period.
Application Segment Analysis
- On the basis of application, the market is divided into infant foods, animal feed, dairy replacers, functional foods, meat alternatives, bakery & confectionery, and others.
- Among all the segments, the "animal feed" segment is projected to expand the fastest during the projected timeframe.
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Competitive Landscape
Some of the main competitors dominating the global soy protein ingredients market include -
- Cargill Health & Food Technologies
- Dean Foods Company
- Kraft Foods Group Inc.
- Bunge Alimentos SA
- MGP Ingredients
- E. I. du Pont de Nemours and Company
- Archer Daniels Midland (ADM) Company
- Kellogg Company
- Omega Protein Corporation
- Kerry Ingredients Inc.
- Doves Farm Foods
- George Weston Foods
- Gelita Group
- Manildra Group
- Armor Proteins
- Burcon NutraScience
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Soy Protein Ingredients market is estimated to grow at a CAGR of around 7.2% during the forecast timeframe (2022-2028).
- In terms of revenue, the Soy Protein Ingredients market was valued at around US$ 10.9 billion in 2021 and is projected to reach US$ 19.5 billion, by 2028.
- On the basis of Based on type, due to its high protein content, low fat extent, bland taste, oligosaccharides, and fibre, soy protein isolates are expected to increase the fastest during the estimated period.
- On the basis of Based on application, the "animal feed" segment is likely to expand the fastest during the estimated period.
- On the basis of region, the North America dominates the global market with 33% market share.
Key questions answered in this report:
- What is the market size and growth rate forecast for Soy Protein Ingredients industry?
- What are the main driving factors propelling the Soy Protein Ingredients Market forward?
- What are the leading companies in the Soy Protein Ingredients Industry?
- What segments does the Soy Protein Ingredients Market cover?
- How can I receive a free copy of the Soy Protein Ingredients Market sample report and company profiles?
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Regional Dominance:
Because of changing consumer lifestyles and a lack of balanced dietary intake, the North American soy protein ingredient market is growing at the fastest rate. The United States is the region's largest market, followed by Canada. With increased awareness of the health benefits of organic products, particularly plant-based types, the global soy protein ingredient market in North America is expected to grow over the forecast period. In addition, the Asia Pacific region is expected to grow at a double-digit CAGR during the projected period, with China and India driving the growth.
The rise in the consumer market for nutritional foods is one factor driving China and India's market growth. Other regions, such as Africa and the Middle East, have small markets for soy protein ingredients. However, these regions are expected to grow only moderately during the forecast period.
Recent Developments
- July 2020: DuPont launched a plant-based Planit portfolio to expand product options. Plant proteins, cultures, hydrocolloids, fibers, probiotics, antioxidants, food protection, natural extracts, enzymes, and emulsifiers, as well as custom-made systems, are all part of the new line. These ingredients can be used to co-create meat and dairy alternatives, but the company's goal is to increase plant-based consumption by offering an ingredient forum for companies diversifying into new formats and subgroups that broaden the plant-based food space. The aforementioned advancement would benefit all sources, including soy, pea, and almond, among others.
- March 2020: To contend with soy protein concentrates in final products, Benson Hill introduced "ultra-high" soybeans. To achieve the roughly equivalent levels of protein found in soy protein concentrate, the variation would involve extremely low water and processing. According to company analysis, the manufacturing and processing of soy protein concentrate is a water and energy-intensive process. To avoid this problem, Benson Hill has developed a soybean variety that has up to 50% more protein at crop standard than current yields.
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The global soy protein ingredients market is segmented as follows:
By Type
- Soy Protein Flours
- Soy Protein Concentrates
- Soy Protein Ingredients Isolates
By Application
- Infant Foods
- Animal Feed
- Dairy Replacers
- Functional Foods
- Meat Alterations
- Bakery & Confectionery
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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