Global Soy Protein Ingredient Market to Grow at a CAGR of 2.70% During 2024-2032, Aided by the Increasing Consumer Inclination towards Health and Fitness

The soy protein ingredient industry is driven by the rising demand for protein diet owing to the increasing consumer inclination towards health and fitness. Soy protein can be really helpful for bodybuilders and fitness enthusiasts, as it accelerates the muscle building process and bulks up the body. In addition to this, the easy availability of clean-labelled soy protein-based products is anticipated to augment the market growth in the forecast period. Furthermore, the growing consumption of nutritional supplements, coupled with the low cost of soy protein is likely to provide impetus to the market growth.

In January 2020, Nestle (OTCMKTS: NSRGY) entered into an agreement with Burcon Nutrascience Corp and Merit Functional Foods Corporation to tailor the plant-based proteins of these companies for use in Nestle food and beverage applications.

In terms of region, the Asia Pacific is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by the growing demand for bakery and confectionery products. This can be attributed to the rising popularity of soy protein-based biscuits and cakes. Additionally, the thriving food and beverage industry in emerging economies of the world is anticipated to further boost the demand for soy protein ingredients in the forecast period.

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Market Breakup by Type, Application, and Region:

• The market is segmented based on type into soy isolates, soy concentrates, and textured soy protein.
• The significant applications of the product include bakery products and confectionery, meat extenders and substitutes, nutritional supplements, beverages, and animal feed and pet food, among others.
• Region-wise, the global market for soy protein ingredient can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for soy protein ingredient is being driven by the thriving food and beverage industry across the globe.
• The growing demand for nutritional supplements owing to the increasing consumer inclination towards fitness and bodybuilding is anticipated to augment the market in the forecast period.
• In addition to this, the rising urbanisation and infrastructure development in emerging economies is likely to boost the development of retail outlets and supermarkets. This will lead to an increase in sales of soy protein based products, thereby positively influencing the market.
• The market is expected to be further aided by the growing popularity of soy-based bakery and confectionery products and the growing innovations by the manufacturers.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for soy protein ingredient for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the types, applications, and regions of soy protein ingredient.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global soy protein ingredient market are Archer Daniels Midland Company, The Scoular Company, Wilmar International Ltd, FUJI OIL HOLDINGS INC., Sonic Biochem Limited, Farbest-Tallman Foods Corporation, and Foodchem International Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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