Chicago, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The Soy Protein Ingredients Market refers to the industry that involves the production, distribution, and consumption of various protein-rich products derived from soybeans. Soy protein is a valuable plant-based protein source that has gained significant popularity due to its nutritional benefits and versatility in food and beverage applications. Soy protein ingredients are extracted from soybeans and can be categorized into several forms, including soy protein isolates, soy protein concentrates, and textured soy protein. These ingredients are used in a wide range of products, such as meat alternatives, dairy alternatives, nutritional supplements, bakery products, and more. The market for soy protein ingredients has experienced substantial growth due to increasing consumer demand for plant-based and vegetarian/vegan diets, as well as the growing awareness of the health benefits associated with soy consumption.
Soy protein ingredients market in terms of revenue was estimated to be worth $7.7 billion in 2022 and is poised to reach $10.8 billion by 2027, growing at a CAGR of 7.0% from 2022-2027 according to a latest report published by MarketsandMarkets™. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global soy protein ingredients market.
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Soy Protein Ingredients Market Scope:
| Report Metric | Details |
| Soy Protein Ingredients Market Estimated Size (2022) | US $7.7 billion |
| Projected Market Valuation (2027) | US $10.8 billion |
| Value-based CAGR (2022-2027) | 7.0% |
| Number of Pages | 246 Pages Report |
| Forecast period considered | 2022–2027 |
| Segments covered | By type, application, form, nature, function, and region |
| Regions covered | North America, Asia Pacific, Europe, South America and RoW |
| Market Drivers | Demand for cheaper protein source |
| Market Opportunities | Demand for organic soy protein |
Soy Protein Ingredients Market major players covered in the report, such as:
- ADM (US)
- Cargill, Incorporated (Sweden)
- International Flavors & Fragrances Inc. (US)
- Devansoy (US)
- CHS Inc. (US)
- BRF Global (Brazil)
- Fuji Oil Holdings Inc. (Japan)
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The research report categorizes the market into the following segments:
Soy Protein Ingredients Market by Type
- Soy Protein Concentrates
- Soy Protein Isolates
- Textured Soy Protein
- Soy Flours
- Other Types
Soy Protein Ingredients Market by Application
- Food
- Meat Alternatives
- Dairy Alternatives
- Bakery Products
- Performance Nutrition
- Convenience Foods
- Beverages
- Other Food Applications
- Feed
- Cattle
- Swine
- Poultry
- PetFood
- AquaFeed
Soy Protein Ingredients Market by Form
- Dry
- Liquid
Soy Protein Ingredients Market by Nature
- Conventional
- Organic
Soy Protein Ingredients Market by Function
- Muscle Health
- Heart Health
- Weight Management
- Other Functions
Soy Protein Ingredients Market by Region
- North America
- Europe
- Asia Pacific
- South America
- Rest of the World (RoW)
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The key stakeholders in the Soy Protein Ingredients Market include:
- Soybean Farmers: Soybean farmers are at the beginning of the supply chain. They cultivate and harvest soybeans, which serve as the primary raw material for soy protein ingredients.
- Soy Ingredient Manufacturers: These companies process soybeans to extract various forms of soy protein ingredients, such as isolates, concentrates, and textured soy protein. They are responsible for refining, separating, and producing high-quality soy protein products.
- Food and Beverage Manufacturers: Food and beverage companies utilize soy protein ingredients to create a wide range of products, including meat alternatives, dairy alternatives, protein bars, snacks, beverages, and baked goods. These manufacturers incorporate soy protein to enhance the nutritional content and functional properties of their offerings.
- Retailers: Retailers, such as supermarkets, grocery stores, health food stores, and online platforms, play a crucial role in distributing soy protein-based products to consumers. They make these products accessible to a wide audience.
- Consumers: Consumers are a pivotal stakeholder group. Their preferences, dietary choices, and demand for healthier and sustainable protein sources drive the growth of the soy protein ingredients market. Consumer awareness and acceptance of soy protein's nutritional benefits influence purchasing decisions.
- Research and Development (R&D) Entities: Research institutions, universities, and R&D departments within companies contribute to the advancement of soy protein ingredient technology. They work on improving extraction methods, developing new products, and enhancing the sensory attributes of soy-based foods.
- Regulatory Authorities: Government agencies and regulatory bodies oversee the safety, labeling, and quality standards of soy protein ingredients and products. They ensure that these products meet health and safety requirements for consumers.
- Nutritionists and Dietitians: Health professionals play a role in educating consumers about the nutritional benefits of soy protein ingredients. They provide information on incorporating these ingredients into balanced diets and their potential health impacts.
- Non-Governmental Organizations (NGOs) and Advocacy Groups: Organizations focusing on plant-based diets, sustainability, animal welfare, and health promote the consumption of soy protein ingredients as part of their missions.
- Trade Associations and Industry Groups: Associations dedicated to the food and beverage industry, as well as plant-based and vegetarian markets, facilitate collaboration, information sharing, and advocacy among industry participants. They work to promote the growth and awareness of soy protein ingredients.
Soy Protein Ingredients Market Frequently Asked Questions (FAQs):
Q1. What are the ingredients in soy protein?
Q2. How big is the soy protein concentrate market?
Q3. What is the outlook for the soy protein market?
Q4. What products are soy protein?
Q5. What is the main protein in soy protein?
Q6. What are the segments of soy protein ingredients market?
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This report provides insights on the following pointers:
- Rising Demand for Plant-Based Proteins: The growing trend towards plant-based diets, driven by concerns over health, sustainability, and animal welfare, has fueled the demand for soy protein ingredients. Consumers are seeking alternatives to animal-based proteins, and soy protein offers a complete amino acid profile, making it a popular choice.
- Health and Nutritional Benefits: Soy protein is recognized for its health benefits, including its potential to lower cholesterol levels, support heart health, and provide essential nutrients. As consumers become more health-conscious, they are seeking products that offer functional benefits alongside protein content.
- Diverse Applications: Soy protein ingredients are used in a wide array of applications, including meat alternatives like plant-based burgers and sausages, dairy alternatives such as soy milk and yogurt, protein bars, baked goods, and more. This versatility has contributed to their increasing incorporation into various food and beverage products.
- Quality and Taste Improvements: Over the years, advancements in processing technology have led to improvements in the taste and texture of soy protein-based products. Manufacturers have been working to address historical concerns about the "beany" flavor and improve sensory attributes to enhance consumer acceptance.
- Clean Label and Transparency: Consumers are seeking products with clean labels and transparent ingredient lists. Soy protein ingredients align with this trend as they can be non-GMO, allergen-free, and minimally processed, appealing to health-conscious consumers.
- Innovation and Product Development: Food and beverage companies are continuously innovating to create new soy protein-based products that cater to different dietary preferences and culinary needs. This includes the development of more realistic meat analogs and improved-textured products.
- Global Market Growth: The demand for soy protein ingredients is not limited to specific regions. The market has witnessed growth on a global scale, with both developed and developing countries embracing these ingredients in various forms.
- Sustainability and Environmental Impact: Soy protein is often viewed as a more environmentally sustainable protein source compared to animal-derived proteins. As sustainability concerns increase, soy protein's lower carbon footprint and reduced land and water usage contribute to its market appeal.
- Challenges and Competition: While soy protein ingredients have gained traction, they face competition from other plant-based protein sources like pea, rice, and hemp. Addressing taste, texture, and allergenicity concerns remains important to maintain and expand market share.
- Regulatory Considerations: Regulations and labeling requirements for soy protein products vary by region. Manufacturers need to stay updated on these regulations to ensure compliance and accurate labeling of their products.
Related Reports:
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analyses and profiling of additional market players (up to five)
Geographic Analysis
- Further breakdown of the Rest of Europe region for soy protein ingredients market into Denmark, Russia, and other EU and non-EU countries.
- Further breakdown of the Asia Pacific region for market into Thailand, Vietnam, Indonesia, South Korea, Malaysia, Singapore, and the Philippines.
- Further breakdown of the Rest of South America region for market into Colombia, Chile, and Peru.
- Further breakdown of other countries in the RoW market for market into Middle East and Africa
