Allied Market Research

2024

Soy Protein Market

Soy Protein Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Soy Protein Concentrates, Soy Protein Isolates, Textured Soy Protein, Soy Flour, Grits, Chunks) and by Application (Food and Beverages, Animal Feed, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Roshan Deshmukh
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Plant-based meat has grown in popularity in recent years, owing to its similar nutritional benefits as well as the meaty taste and flavour of genuine meat, and this aspect is expected to drive the soy protein market forward in the approaching years.

This is because texturized soy protein, a kind of soy protein, is commonly utilised in the production of plant-based meat since it provides a meat-like texture and taste, as well as all essential amino acids.

Boca Foods, Worthington Foods, and a few other companies make plant-based meat products with soy protein as the principal ingredient, owing to its capacity to give the end product a meaty feel.

COVID-19 Impact analysis

COVID-19 raised public awareness about the negative effects of meat on the environment and health, and inspired more people to seek out alternatives to animal-based diet. Humans contract 60% to 75% of new infectious illnesses from other animals. This is the primary driver of consumer demand for plant-based meat products, which supports the need for soy protein components.

The global soy protein components market is being pushed by a growing trend toward vegan diets, as well as the functional efficiency, cost competitiveness, and increasing use of such plant protein products in a wide range of processed foods, particularly in the ready-to-eat product category.

Soy protein's strong functional properties and natural health benefits are propelling its market expansion. Because of its high sustainability, soy protein is becoming more popular in a variety of end-user sectors.

Top Impacting Factors

  • Growing demand for protein-rich diets and increased awareness of the advantages of protein are driving the expansion of the soy protein industry- As the world's population grows, so does the demand for protein. The high-protein diet is gaining popularity, and it will continue to do so in the future years. The Food and Agriculture Organization (FAO) estimates that global food consumption, particularly for protein, would be twice as high in 2050 as it was in 2013. Furthermore, consumers are becoming more aware of the benefits of protein in supporting an active lifestyle. A high-protein diet has been shown to help with a variety of health issues. As a result, more people are starting to include a particular quantity of protein in their daily diets. This has resulted in a considerable growth in soy protein output and consumption around the world.
  • Incorporation of Soy Protein Ingredients in Meat Extenders and Substitutes is Increasing

Consumers are switching to plant-based protein sources instead of animal protein products as their health awareness grows. As a result, consumers continue to prefer soy protein above all other plant-based proteins. In the meat business, soy protein isolates and concentrates are utilized for emulsification, emulsion stabilization, gelation, and fat and water binding, among other things. As a result, emulsified meat compositions including soy components have improved visual appeal, texture, and are free of off-flavors.

Market Trends

  • Meat and dairy proteins are preferred alternatives-

Soy proteins are one of the most popular animal and dairy protein substitutes, which has helped food manufacturers reduce costs and increase product profitability. Due to their functional and nutritional qualities, they are utilized in a variety of food applications such as baking, confectionery, emulsion-type sausages, dairy replacers, functional beverages and nutritious bars, and breakfast cereals. They're also employed in animal feed, aquaculture, and pet food as nutritious components. Soy protein is a good substitute for meat and dairy proteins since it has various nutritional benefits. As the cost of meat and dairy proteins has risen, producers and customers alike have turned to it as a less expensive alternative that provides the same nutritious benefits. Soy protein concentrates are a viable substitute for proteins in weanling pig diets in feed applications. Animal protein, such as fish meal protein, has a lower crude protein digestibility than soy protein concentrates in swine diets. The demand for soy protein components in the feed sector is likely to increase as a result of this.

  • Soy products have an unpleasant flavor-

Consumer preferences for “cholesterol-free” foods have boosted demand for soy protein components, putting pressure on animal protein consumption. Soy protein, on the other hand, is unpalatable due to its off-flavor. The presence of chemicals such as aldehydes, ketones, furans, and alcohols causes this off-flavor. One of the main causes of soy products' beany and grassy flavor is medium-chain aldehydes. The low cost of soy and its excellent nutritional content are the only factors that have prompted researchers to create novel and appealing soy flavors.

Key Benefits of the Report

  • This study presents the analytical depiction of the SOY PROTEIN MARKET industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the SOY PROTEIN MARKET share.
  • The current market is quantitatively analyzed to highlight the SOY PROTEIN MARKET growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed SOY PROTEIN MARKET analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Report

  • Who are the leading market players active in the ‘SOY PROTEIN MARKET’?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is “SOY PROTEIN MARKET” prediction in the future?
  • Which will be the niches at which players profiling with recent advancements should set a presence?
  • What are the driving factors and opportunities in the market?
  • What are the current trends and predicted trends?
  • What are the challenges faced in the "SOY PROTEIN MARKET"?

Soy Protein Market Report Highlights

Aspects Details
Soy Protein Market By Type
By Type
  • Soy Protein Concentrates
  • Soy Protein Isolates
  • Textured Soy Protein
  • Soy Flour
  • Grits
  • Chunks
Soy Protein Market By Application
By Application
  • Food and Beverages
  • Animal Feed
  • Others
Soy Protein Market By Region
By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (Germany, France, UK, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Ruchi Soya Industries Ltd (India), Archer Daniels Midland Company (US), E. I. du Pont de Nemours and Company (US), Cargill (US), Biopress SAS (France)., The Scoular Company (US), Wilmar International Limited (Singapore), Devansoy Inc. (US), Nisshin Oillio Group, Ltd. (Japan), Kerry Group plc (Ireland), AG Processing Inc (US), CHS Inc. (US)

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Soy Protein Market

Global Opportunity Analysis and Industry Forecast, 2023-2032