Soy Protein Market Size by Type (Soy Protein Concentrates; Soy Protein Isolates; Textured Soy Protein; and Soy Flour, Grits, and Chunks), Application (Food and Beverages, Animal Feed, and Others), and Geography–Global Forecast to 2025
The global soy protein market is expected to reach $7.3 billion by 2025, at a CAGR of 7.1% during the forecast period of 2019 to 2025. In terms of volume, this market is expected to grow at a CAGR of 5.5% from 2019 to 2025 to reach 5,026 thousand MT by 2025.
The growth in this market is mainly attributed to the increasing awareness about the benefits of protein and growing demand for protein rich diet, growing health and wellness trend, increasing consumers’ focus on meat alternatives, and advancements in ingredient technologies such as microencapsulation. In addition, increasing inclination of consumers towards vegan diet and emerging economies such as Southeast Asia, Latin America, and the Middle East & Africa provides significant opportunities for the manufacturers in the global soy protein market. However, significant preference for animal-based protein, fluctuating raw material prices, and consumer preference to soy free products hinders the growth of this market.
The study offers a comprehensive analysis of the global soy protein market with respect to various types. The global soy protein market is segmented on the basis of type (soy protein concentrates; soy protein isolates; textured soy protein; and soy flour, grits, and chunks), application (food and beverages, animal feed and pet food, and others), and geography.
Based on type, soy protein concentrates segment is estimated to hold the largest share of the overall soy protein market in 2019. However, soy protein isolate is estimated to witness the fastest growth during the forecast period. The fast growth of this segment is attributed to increasing demand from food and beverages and nutraceutical product manufacturers, owing to its nutritional and functional properties such as high protein content, neutral taste, and high viscous nature.
Based on application, food and beverages application is estimated to hold the largest share of the overall soy protein market in 2019. The large share of this segment is mainly attributed to the increasing consumer preference for soy foods and ingredients; growing awareness and demand for protein rich food products; versatile functionality and compatibility of soy protein with vegetarian and vegan lifestyles; and rising clean label trend. Further, soy protein is extremely versatile and functional; it can be easily formulated into many food products as a nutritional, functional, and low-cost extender.
Geographically, though North America dominates the global soy protein market, the Asia-Pacific region is expected to witness significant growth during the forecast period. The rapid growth in this region is mainly attributed to the large base of vegetarian people, growing urbanization and industrialization, rising awareness about the health benefits of soy protein, growing investment by the leading players in the region, and growing disposable income.
The key players operating in the global soy protein market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Kerry Group (Ireland), E.I. Dupont De Nemours and Company (U.S.), NOW Health Group, Inc. (U.S.), Burcon NutraScience Corporation (Canada), Sotexpro (France), Farbest Brands (U.S.), Wilmar International Ltd. (Singapore), and CHS Inc. (U.S.).
Scope of the report
Soy Protein Market, by Type
Soy Protein Concentrates
Soy Protein Isolates
Textured Soy Protein
Soy Flour, Grits, and Chunks
Soy Protein Market, by Application
Food and Beverages
Meat, Poultry, and Seafood
Bakery and Confectionary
Dairy and Dairy Replacements
Animal Feed and Pet Food
Soy Protein Market, by Geography
Rest of Europe (RoE)
Rest of Asia-Pacific (RoAPAC)
Rest of World
Middle East and Africa
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