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Global Soy Protein Market: By Type: Isolate, Concentrate, Textured Soy Protein; By Application: Bakery and Confectionery, Functional Foods, Pharmaceuticals, Meat Additives, Feed, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Soy Protein Market Outlook
The global soy protein market attained nearly USD 9.19 billion in 2021. The market is expected to witness a healthy growth in the coming years and is projected to grow at a CAGR of 7.0% in the forecast period of 2023-2028. In 2027, the soy protein market is estimated to reach USD 15.65 billion.
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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:
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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.
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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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Archer Daniels Midland Company, Nutrition & Biosciences, Cargill Incorporated, Wilmar International Limited, CHS Inc., 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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 Industry Opportunities and Challenges
8 Global Soy Protein Market Analysis
8.1 Key Industry Highlights
8.2 Global Soy Protein Historical Market (2018-2022)
8.3 Global Soy Protein Market Forecast (2023-2028)
8.4 Global Soy Protein Market Market by Type
8.4.1 Isolate
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Concentrate
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Textured Soy Protein
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Soy Protein Market Market by Application
8.5.1 Bakery and Confectionery
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Functional Foods
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Pharmaceuticals
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Meat Additives
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Feed
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Soy Protein Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Spain
9.2.3.6 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Cargill, Incorporated
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Wilmar International Limited
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 CHS Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Nutrition & Biosciences
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Archer Daniels Midland Company
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. Global Soy Protein Market: Key Industry Highlights, 2018 and 2028
2. Global Soy Protein Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Soy Protein Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Soy Protein Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Soy Protein Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Soy Protein Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Soy Protein Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Soy Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Soy Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Soy Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Soy Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Soy Protein Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Soy Protein Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Soy Protein Market Structure
Key Questions Answered in the Report
In 2021, the global soy protein market attained a value of nearly USD 9.19 billion.
The market is projected to grow at a CAGR of 7.0% between 2022 and 2027.
The market is estimated to witness healthy growth in the forecast period of 2023-2028 to reach USD 15.65 billion by 2027.
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 9.19 billion in 2021, 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 2023-2028, growing at a CAGR of 7.0%. The market is projected to reach USD 15.65 billion by 2027.
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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