2016 - 2026
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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).
|Textured Soy Protein|
|Bakery Products and Confectionery|
|Meat Extenders and Substitutes|
|Animal Feed and Pet Food|
Key Market Trends
Increasing Application of Soy Protein Ingredients in Meat Extenders and Substitutes
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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.
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- 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 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Soy Isolates
5.1.2 Soy Concentrates
5.1.3 Textured Soy Protein
5.2 By Application
5.2.1 Bakery Products and Confectionery
5.2.2 Meat Extenders and Substitutes
5.2.3 Nutritional Supplements
5.2.5 Animal Feed and Pet Food
5.2.6 Other Applications
5.3 By Geography
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Archer Daniels Midland Company
6.4.2 Cargill Incorporated
6.4.3 DuPont de Nemours Inc.
6.4.4 Kerry Group PLC
6.4.5 The Scoular Company
6.4.6 Wilmar International Limited
6.4.7 Fuji Oil Holdings Inc.
6.4.8 Food Chem International Corporation
6.4.9 Sonic Biochem Extractions Private Limited
6.4.10 Farbest Brands
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Soy Protein Ingredients Market market is studied from 2016 - 2026.
What is the growth rate of Soy Protein Ingredients Market?
The Soy Protein Ingredients Market is growing at a CAGR of 2.61% over the next 5 years.
Which region has highest growth rate in Soy Protein Ingredients Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Soy Protein Ingredients Market?
North America holds highest share in 2020.
Who are the key players in Soy Protein Ingredients Market?
- 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.