South America Plant Protein Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

South American soy protein ingredients market is propelled by demand for sports and nutrition products by athletes, body builders, and recuperating patients. Additionally weight management category is also growing where protein is the main constituent ingredient. A huge lactose intolerant population that drives demand for alternate dairy substitutes, such as soy protein characterizes South America. Further, there is a substantial untapped potential for the GMO-free and clean-label based soy protein ingredients. Manufacturers are seeking eco-friendly ways of cultivating and/or sourcing soybeans in order to process into high quality and safe soy proteins.

Plant protein such as soy protein is commonly used in protein and energy bars, breakfast cereals, various processed meats, and meat alternatives for improvement in taste and texture, as well as in a number of muscle gain supplements in the fitness industry. Geographically, the South American market for plant protein is segmented into Brazil, Argentina, and Mexico, of which, Brazil contributes the largest share. With an increase in R&D and a surge in plant protein production in the recent times, many companies have shown interest in setting up manufacturing units in these regions of South America.