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Soy Protein Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

Global Soy Protein Ingredients Market is segmented by Type (Soy Isolates, Soy Concentrates, Textured Soy Protein), By Application (Bakery and Confectionery, Meat Extenders and Substitutes, Nutritional Supplements, Beverages, Animal Feed and Pet Food, and Others), and by Geography (North America, Europe, Asia-Pacific, South America and Middle East and Africa). The report offers market size and forecasts for Soy Protein Ingredients in value (USD million) for all the above segments.

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Market Snapshot

Soy Protein Ingredients Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 2.61 %
Soy Protein Ingredients Market Top Companies

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Market Overview

The global soy protein ingredients market was valued at USD 8,144.29 million in 2020 and is projected to grow at a CAGR of 2.61% during the forecast period (2021 - 2026).

COVID-19 heightened awareness around the impact of meat on the environment and health and encouraged more people to find alternatives to the animal-based food supply chain. Between 60% and 75% of emerging infectious diseases in humans come from other animals. This is the major factor that drives consumers toward plant-based meat products that support soy protein ingredients’ demand.

The global soy protein ingredients market is driven by a growing inclination toward vegan diets, the functional efficiency, the cost competitiveness offered by such plant protein products, and their increasing utilization in a wide variety of processed foods, especially in the ready-to-eat product category. Soy protein isolates and concentrates are the most eminent forms of soy protein and contain 90% and 70% protein content, respectively.

The high functional property of soy protein and its natural health benefit are boosting its market growth. There is an increase in the adoption of soy protein across several end-user industries, owing to its high sustainability.

Scope of the Report

The global soy protein ingredients market involves protein ingredients derived from soy as a source. The products considered are manufactured by companies that have their procurement system and farms as a part of their agribusiness unit. Soy has a substantial amount of proteins, which are healthy for all age groups, and it also helps in keeping body fit. FDA claims that consuming 25 grams of soy protein per day reduces the risk of coronary heart disease. There are three types of soy protein considered in terms of type, namely, isolates, concentrates, and textured soy protein. By application, the market studied is divided into bakery and confectionery, meat extenders and substitutes, nutritional supplements, beverages, animal feed and pet food, and other applications. Further, by geography, the market is segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

By Type
Soy Isolates
Soy Concentrates
Textured Soy Protein
By Application
Bakery Products and Confectionery
Meat Extenders and Substitutes
Nutritional Supplements
Beverages
Animal Feed and Pet Food
Other Applications
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Application of Soy Protein Ingredients in Meat Extenders and Substitutes

Owing to growing health awareness, consumers are shifting to plant-based protein products instead of animal protein products. So, soy protein remains the first choice of consumers among all other plant-based proteins. Soy protein isolates and concentrates are used for several other applications in the meat industry, such as emulsification, emulsion stabilization, gelation, and fat and water binding. As a result, emulsified meat formulations containing soy ingredients have a better visual appeal, good texture, and no off-flavors. In the United States, the military purchases more than one-half of its beef in ground form and utilizes soy-extended beef to achieve significant cost savings. The extender approved is textured or granulated soy protein concentrate, which can be added at about the 20% level (5% on a dry basis) in a hydrated form.
Soy Protein Ingredients Market Growth Rate

North America Leading The Soy protein Ingredients Market

The soy protein ingredient market in the North American region is growing at a fast rate, owing to factors, such as changes in lifestyle, lack of balanced dietary intake, and increasing focus of global manufacturers on R&D to develop new kinds of soy-protein-enriched products. The United States continues to capture the largest market share for soy protein ingredients, followed by Canada, and Mexico. Nowadays, consumers in the region are switching to other alternative products, such as green label food products, due to increasing awareness for healthy and plant-based products as there is an increasing number of counterfeit products in the market. 

Soy Protein Ingredients Market Size

Competitive Landscape

The global soy protein ingredients market is consolidated and comprises of regional and international competitors. The most active companies in this market are Archer Daniels Midland, DuPont, The Scoular Company, Fuji Oil Asia Pte, Cargill, and DowDupont. The common strategies adopted by the companies are new product developments and merger and acquisition of small players, to get a foothold in the market. The soy protein ingredients market offers wide scope to the existing companies. There are government regulations for GMO soy, which influences the entry of players into the market.
Archer Daniels Midland, Cargill Inc., DuPont de Nemours Inc., Kerry Group PLC, The Scoular Company

Recent Developments

  • In July 2018, DuPont Nutrition and Health launched six new soy plant protein nuggets from its SUPRO and TRUPRO product range with more protein or less sodium.
  • In June 2019, DuPont Nutrition and Biosciences debuted the naturally-sourced GRINDSTED® PLANT-TEX egg white replacement system for plant-based meat alternatives. The product is suitable for anyone wanting to reduce their consumption of meat or obtain a vegan diet.
  • In February 2020, the Archer Daniels Midland Company expanded the production capacity of non-GMO soy protein concentrate at its factory in Europoort, the Netherlands, as it aims to meet the growing demand for plant-based proteins. The Europoort production site recently started producing soy protein concentrate, which is available in a powdered format and can be used in a variety of food applications.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Soy Isolates

      2. 5.1.2 Soy Concentrates

      3. 5.1.3 Textured Soy Protein

    2. 5.2 By Application

      1. 5.2.1 Bakery Products and Confectionery

      2. 5.2.2 Meat Extenders and Substitutes

      3. 5.2.3 Nutritional Supplements

      4. 5.2.4 Beverages

      5. 5.2.5 Animal Feed and Pet Food

      6. 5.2.6 Other Applications

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Italy

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Archer Daniels Midland Company

      2. 6.4.2 Cargill Incorporated

      3. 6.4.3 DuPont de Nemours Inc.

      4. 6.4.4 Kerry Group PLC

      5. 6.4.5 The Scoular Company

      6. 6.4.6 Wilmar International Limited

      7. 6.4.7 Fuji Oil Holdings Inc.

      8. 6.4.8 Food Chem International Corporation

      9. 6.4.9 Sonic Biochem Extractions Private Limited

      10. 6.4.10 Farbest Brands

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Soy Protein Ingredients Market market is studied from 2016 - 2026.

The Soy Protein Ingredients Market is growing at a CAGR of 2.61% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Archer Daniels Midland, Cargill Inc., DuPont de Nemours Inc., Kerry Group PLC, The Scoular Company are the major companies operating in Soy Protein Ingredients Market.

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