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Soy Protein Market

Global Soy Protein Market Size, Share, Trends, Forecast: By Type: Isolate, Concentrate, Textured Soy Protein; By Application: Bakery and Confectionery, Functional Foods, Pharmaceuticals, Meat Additives, Feed, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Soy Protein Market Outlook

The global soy protein market attained nearly USD 10.52 billion in 2023. The market is expected to witness a healthy growth in the coming years and is projected to grow at a CAGR of 7% in the forecast period of 2024-2032. In 2032, the soy protein market is estimated to reach USD 19.34 billion.

 

Soy Protein Market

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The soy protein market is being driven by the rising demand for plant proteins, globally. Soy protein is the largest segment in the plant-based proteins market. It accounts for nearly 60% of the market.

North America is the leading market for plant-based protein, accounting for the major share of the global market. The US is the major market in the region. In the US, soy protein was the most popular protein used in plant-based protein beverages. North America is followed by Europe and Asia as the other major markets for plant-based proteins, which together account for around half the global soy protein market.

The demand for soybean is pervasive across temperate and tropical regions and is a globally traded commodity as it is a significant source of vegetable oil and protein.  The Americas, together, account for almost 90% of the total production of soybean, globally. The United States, Brazil, and Argentina are the major producers of soybean. China is also a significant producer of soybean globally and is also a leading importer of the commodity. However, the country is expanding its soybean output to reduce dependency on import. 

 

Market Segmentation

Soy protein is derived from soybean meal, which has been dehulled and defatted. It is the protein that has been isolated from soybean. Commercially, they are available as high-protein products like isolate, concentrate, and textured soy protein. It finds extensive application in sectors like:

 

Soy Protein Market By Segments

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Based on type, the market is segmented into:

  • Isolate
  • Concentrate
  • Textured Soy Protein

On the basis of application, the market is divided into:

  • Bakery and Confectionery
  • Functional Foods
  • Pharmaceuticals
  • Meat Additives
  • Feed
  • Others

The report also gives an in-depth look into the various regional markets like North America, Latin America, Middle East and Africa, Europe, and the Asia Pacific.

 

Soy Protein Market By Region

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Market Analysis

The global soy protein market is being driven by the growing trend of health and wellness diets, which require high-protein intake. The market is also being aided by the rising demand from consumers eschewing animal-based food and beverage products in favour of plant proteins. The increase in the number of people taking up a vegan diet is also acting as a catalyst for the market. While veganism is still a relatively niche interest, the market for vegan foods and beverage is growing, especially propelled by younger consumers. Major manufacturers and food outlets are introducing vegan alternatives to traditional products. The resultant rise in plant-based protein alternatives is aiding the soy protein market growth. Soy protein is being increasingly consumed as an alternative to dairy proteins by vegans as well as by those with dairy-based allergies. It is also being consumed as a quality meat-substitute, which is also cost-efficient.

The multiple health benefits of soy protein are driving the market as consumers are becoming more health conscious. Its increasing application in the sports nutrition sector is also aiding the market growth. Soy proteins are being preferred as a source of protein that is low in fat and calories and is cholesterol-free. They are also finding increasing use in soy-based infant formulas. Animal feed is another application sector that has been witnessing a growth and is aiding the soy protein market.  With companies undertaking multiple R&D undertakings, the market is being further propelled forward. The rising innovation taking place in the market is also providing an impetus for its growth. The rapid urbanisations and increase in disposable incomes, globally, is also aiding the market growth as they define and change the consumption patterns. The diversification of products comprised of plant-based proteins like soy proteins is expected to drive the global soy protein market in the coming years.

 

Competitive Landscape

The report gives a detailed analysis of the following key players in the global soy protein market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Archer Daniels Midland Company
  • Nutrition & Biosciences
  • Cargill Incorporated
  • Wilmar International Limited
  • CHS Inc.
  • Others

The comprehensive report by EMR gives an in-depth insight into the manufacturing process and the cost involved. It also analyses the price trends across the globe. The report also assesses the market based on a SWOT analysis and an analysis of the Porter’s Five Forces model. A value chain and trade analysis have been provided, as well.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Isolate   
  • Concentrate  
  • Textured Soy Protein
Breakup by Application
  • Bakery and Confectionery
  • Functional Foods
  • Pharmaceuticals
  • Meat Additives
  • Feed
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Cargill, Incorporated
  • Wilmar International Limited
  • CHS Inc. 
  • Nutrition & Biosciences
  • Archer Daniels Midland Company
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

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Soy Protein Market Report Snapshots

Soy Protein Market Size

Soy Protein Market Analysis

Soy Protein Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Soy Protein Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Soy Protein Historical Market (2018-2023) 
    8.3    Global Soy Protein Market Forecast (2024-2032)
    8.4    Global Soy Protein Market by Type
        8.4.1    Isolate    
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Concentrate  
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Textured Soy Protein
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Soy Protein Market by Application
        8.5.1    Bakery and Confectionery
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Functional Foods
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Pharmaceuticals
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Meat Additives
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Feed
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    Global Soy Protein Market by Region     
     8.6.1    North America
         8.6.1.1    Historical Trend (2018-2023) 
         8.6.1.2    Forecast Trend (2024-2032)
     8.6.2    Europe
         8.6.2.1    Historical Trend (2018-2023) 
         8.6.2.2    Forecast Trend (2024-2032)
     8.6.3    Asia Pacific
         8.6.3.1    Historical Trend (2018-2023) 
         8.6.3.2    Forecast Trend (2024-2032)
     8.6.4    Latin America
         8.6.4.1    Historical Trend (2018-2023) 
         8.6.4.2    Forecast Trend (2024-2032)
     8.6.5    Middle East and Africa
         8.6.5.1    Historical Trend (2018-2023) 
         8.6.5.2    Forecast Trend (2024-2032)
9    North America Soy Protein Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Soy Protein Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Spain
        10.5.1    Historical Trend (2018-2023) 
        10.5.2    Forecast Trend (2024-2032)
    10.6   Others
11    Asia Pacific Soy Protein Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Soy Protein Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Soy Protein Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Price Analysis
17    Competitive Landscape

    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Cargill, Incorporated
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Wilmar International Limited
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    CHS Inc. 
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Nutrition & Biosciences
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Archer Daniels Midland Company
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Soy Protein Market: Key Industry Highlights, 2018 and 2032
2.    Global Soy Protein Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Soy Protein Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Soy Protein Historical Market: Breakup by Application (USD Million), 2018-2023
5.    Global Soy Protein Market Forecast: Breakup by Application (USD Million), 2024-2032
6.    Global Soy Protein Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Global Soy Protein Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    North America Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2023
9.    North America Soy Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Europe Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Europe Soy Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Asia Pacific Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Asia Pacific Soy Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Latin America Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Latin America Soy Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Middle East and Africa Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Middle East and Africa Soy Protein Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Global Soy Protein Market Structure

Key Questions Answered in the Report

In 2023, the global soy protein market attained a value of nearly USD 10.52 billion.

The market is projected to grow at a CAGR of 7% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 19.34 billion by 2032.

The major drivers of the market include the growing population, rising food market and the rising demand for plant proteins.

The soy protein market is being aided by growing trend of health and wellness diets, which require high-protein intake.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Isolate, concentrate and texturised soy protein are the leading types of the market.

Bakery and confectionery, functional foods, pharmaceuticals, meat additives, feed, among others are the leading applications in the market.

The major players in the market are Archer Daniels Midland Company, Nutrition & Biosciences, Cargill Incorporated, Wilmar International Limited, and CHS Inc., among others.

Analyst Review

The global soy protein market attained a value of USD 10.52 billion in 2023, driven by the increasing focus of the organisations on optimising customer experience and operational efficiencies. The market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 7%. The market is projected to reach USD 19.34 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on its types, the soy protein market can be segmented into isolate, concentrate, and textured soy protein. On the basis of applications, the market is divided into bakery and confectionery, functional foods, pharmaceuticals, meat additives, feed, among others. The major regional markets for soy protein are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Archer Daniels Midland Company, Nutrition & Biosciences, Cargill Incorporated, Wilmar International Limited, and CHS Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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