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Global Soy Protein Market Size, Share & COVID-19 Impact Analysis, By Type (Soy Protein Concentrates, Soy Protein Isolates, Textured Soy Proteins and Other Types (Soy Flour, Grits, & Chunks)), By Crop Type (Genetically Modified Organism Crops and Non-Genetically Modified Organism Crops), By Source Process (Conventional Soy Protein Ingredients and Organic Soy Protein Ingredients), By Form (Solid/Dry and Liquid), By Application (Food & Beverages (Meat, Poultry, and Seafood, Bakery & Confectionery, Meat Analogues, Dairy & Dairy Alternatives, Beverages, Other Food & Beverage Applications) Animal Feed, Nutrition & Health Supplements and Other Applications) and Regional Forecasts, 2023-2030

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The global soy protein market size was valued at USD 9.2 billion in 2021. The market is projected to grow from USD 9.2 billion in 2021 to USD 11.3 billion by 2028, exhibiting a CAGR of 3.50% during the forecast period.
 
One of the key factors propelling the growth of the soy protein market is the rise in health consciousness worldwide. Due to their cost-competitiveness, functional effectiveness, and use in a wide range of processed meals, notably in the ready-to-eat product category, plant protein products are in higher demand, accelerating market growth. The market is further influenced by rising demand for effective and affordable meat substitutes among newborns and increased demand for use in nutraceutical, food & beverage, and functional food applications. Additionally, the soy protein market is positively impacted by the rise in food spending, adoption of healthy lifestyles, increased use of a variety of foods, media influence on consumer awareness, and rise in demand for diets high in protein. Furthermore, the development of ingredient technologies like microencapsulation expands the lucrative potential for market participants during the projection period.
 
COVID-19 IMPACT

The government's orders to stay at home and the consequent constraints on the authorities' ability to inspect the soy protein more effectively than before had a detrimental influence on the soy protein sector due to the pandemic. Due to the epidemic, certain testing laboratories were forced to follow social distancing and had less material and employees available, which limited their abilities. Due to the enduring consumer preference for health and wellness brought on by the pandemic, this boost in sales is anticipated to remain in the post-COVID scenario.
 
DRIVING FACTORS

Growing Demand for Meat Alternatives and Rising Health Trends to Drive the Market

Due to its superior gelation skills and propensity to form fibrous structures, soy protein—the most well-known substitute for animal protein—has been employed successfully in the production of meat substitutes. Soy is a nutrient-dense source of protein that can be consumed several times each week, preferably more frequently, especially when used as a substitute for red and processed meat. The demand for soy protein is predicted to expand due to sports' increased popularity, sports facilities' expansion, and the quick rise in health and fitness facilities.
 
RESTRAINING FACTORS

Issues Related to Hormonal Imbalances Restrict the Market

The soy protein and soy protein powder include phytates, which hinder the body's capacity to absorb minerals. A mineral deficit could result in health problems as a result of this. The isoflavones in soy also function as goitrogens, which can impair thyroid function and thus affect hormone synthesis. In addition, soy protein contains phytoestrogen, which is an estrogen-like substance that occurs naturally in plants and binds to the body's estrogen receptors. Soy protein intake in excess may disrupt the body's regular hormone balance.
 
SEGMENTATION

By Type


Based on type, the soy protein market is segmented into soy protein concentrates, soy protein isolates, textured soy proteins and other types (soy flour, grits, & chunks). The soy protein isolates category dominated the market in 2021 because this product contains the most protein, the least fat, and no cholesterol. Soy protein isolate reduces the risk of heart disease, breast cancer, and osteoporosis while maintaining hormone balance. Additionally, during the forecast period, revenue for the category of soy protein concentrates is anticipated to expand quickly. Because they provide the functional performance and sensory quality that consumers and producers demand, soy-protein concentrates a significant food ingredient in many manufactured food systems.
 
By Crop Type

By crop type, the market is segmented into genetically modified organism crops and non-genetically modified organism crops. The genetically modified organism crops category dominated the market in 2021, linked to the widespread usage of GMO crops for manufacturing plant-based proteins due to their enormous productivity and economic viability, such as soybeans.
 
By Source Process

By source process, the market is segmented into conventional soy protein ingredients and organic soy protein ingredients. The conventional soy protein ingredients enterprises category dominated the market in 2021 due to the widespread availability of crops produced using the conventional harvesting technique (which employs chemical fertilizers), the simplicity of obtaining inexpensive conventional soy protein ingredients, the lengthier shelf life of conventional soy proteins, and the availability of numerous substantial crop varieties.
 
By Form

By form, the market is segmented into solid/dry and liquid. The solid/dry category is anticipated to grow at a significant rate. Among athletes and non-athletes alike, solid soy protein bars are quickly rising in favor. This kind of bar can bring convenience, is better for the diet, and offers several health advantages. Many different flavors of soy protein bars are frequently available at supermarkets.
 
By Application

By application, the market is segmented into food & beverages (meat, poultry, and seafood, bakery & confectionery, meat analogues, dairy & dairy alternatives, beverages, other food & beverage applications), animal feed, nutrition & health supplements and other applications. The food & beverage category dominated the market in 2021, attributed to the high consumer demand for environmentally friendly goods, the growing understanding of the health advantages of soy protein, the growing understanding of the negative effects of using animal-based products and ingredients, the growing number of vegans, the rising cost of meat, and the clean label trend.
 
REGIONAL INSIGHTS

 
North America is projected to hold the largest share of the soy protein market over the forecast period due to ongoing research efforts to offer new types of soy-protein-enriched goods in baking, emulsion-type sausages, functional beverages, nutritional bars, and breakfast cereals due to nutritional benefits, as well as growing awareness of plant-based products like soy protein isolates. Several start-ups are targeting this local market with a variety of soy protein products, which is anticipated to spur market revenue growth.
 
On the other hand, the Asia Pacific soy protein market is anticipated to grow significantly over the forecast period. This is brought on by rising soy-based product consumption and escalating urbanization and industrialization. The region's high demand is also largely encouraged by the rising popularity of vegetarian food due to the rise of veganism and cholesterol-free food products.
 
LIST OF KEY COMPANIES PROFILED:
  • Archer Daniels Midland Company (U.S.)
  • Cargill, Incorporated (U.S.)
  • Kerry Group plc (Ireland)
  • International Flavors & Fragrances Inc. (U.S.)
  • NOW Health Group, Inc. (U.S.)
  • Burcon NutraScience Corporation (Canada)
  • Sotexpro (France)
  • Farbest Brands (U.S.)
  • Wilmar International Limited (Singapore)
  • CHS Inc. (U.S.)
  • Devansoy Inc. (U.S.)
 
KEY INDUSTRY DEVELOPMENTS:
  • February 2022: The debut of TruVail, a new range of locally produced, non-GMO plant-based protein ingredients with special sustainability advantages, was announced by Benson Hill, Inc., a food technology firm based in the United States that is unlocking plant genetic variation.
  • July 2021: The biggest nutrition firm in the world, ADM, disclosed its agreement to acquire Sojaprotein, a significant European supplier of non-GMO soy components.
REPORT SCOPE AND SEGMENTATION
 
Attributes Details
Study Period 2016-2030
Base Year 2021
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2016-2020
Unit Revenue (USD Million) and Volume (Kilo Tons)
Segmentation By Type, By Crop Type, By Source Process, By Form, By Application and By Geography
By Type
  • Soy Protein Concentrates
  • Soy Protein Isolates
  • Textured Soy Proteins
  • Other Types (Soy Flour, Grits, & Chunks)
By Crop Type
  • Genetically Modified Organism Crops
  • Non-Genetically Modified Organism Crops
By Souce Process
  • Conventional Soy Protein Ingredients
  • Organic Soy Protein Ingredients
By Form
  • Solid/Dry
  • Liquid
By Application
  • Food & Beverages
    • Meat, Poultry, and Seafood
    • Bakery & Confectionery
    • Meat Analogues
    • Dairy & Dairy Alternatives
    • Beverages
    • Other Food & Beverage Applications
  • Animal Feed
  • Nutrition & Health Supplements
  • Other Applications
By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa
Chapter 1    Preface

    1.1    Report Scope and Description
        1.1.1    Study Purpose
        1.1.2    Target Audience
        1.1.3    USP and Key Offerings
    1.2    Key Benefits for Stakeholders
    1.3    Report Scope

Chapter 2    Report Summary

    2.1    Key Findings
        2.1.1    Top Investment Pockets
    2.2    Market Snapshot: Global Soy Protein Market
    2.3    Global Soy Protein Market, 2018 – 2028 (US$ Mn)

Chapter 3    COVID 19 Impact Analysis

    3.1    Impact Assessment of COVID-19 Pandemic, By Region
        3.1.1    North America: Impact of COVID-19 Pandemic
        3.1.2    Europe: Impact of COVID-19 Pandemic
        3.1.3    Asia pacific: Impact of COVID-19 Pandemic
        3.1.4    Latin America: Impact of COVID-19 Pandemic
        3.1.5    Middle-East and Africa: Impact of COVID-19 Pandemic
    3.2    Key Strategies Undertaken by Companies to Tackle COVID-19
    3.3    Quarterly Market Revenue by Region 2021 & 2022
    3.4    Pre COVID-19 Market Revenue, By Region, 2016-2019        (USD Million)
    3.5    Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    3.6    Short Term Dynamics
    3.7    Long Term Dynamics

Chapter 4    Global Soy Protein Market, By Type Segment Analysis

    4.1    Soy Protein Market Overview, By Type Segment
        4.1.1    Global Soy Protein Market Revenue Share, By Type, 2022 & 2028 (Value, %)
    4.2    Soy Protein Concentrates
        4.2.1    Soy Protein Share Forecast, By Region (USD Million)
        4.2.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        4.2.3    Key Market Trends, Growth Factors, & Opportunities
    4.3    Soy Protein Isolates
        4.3.1    Soy Protein Share Forecast, By Region (USD Million)
        4.3.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        4.3.3    Key Market Trends, Growth Factors, & Opportunities
    4.4    Textured Soy Proteins
        4.4.1    Soy Protein Share Forecast, By Region (USD Million)
        4.4.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        4.4.3    Key Market Trends, Growth Factors, & Opportunities
    4.5    Other Types (Soy Flour, Grits, & Chunks)
        4.5.1    Soy Protein Share Forecast, By Region (USD Million)
        4.5.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        4.5.3    Key Market Trends, Growth Factors, & Opportunities
        
Chapter 5    Global Soy Protein Market, By Crop Type Segment Analysis

    5.1    Soy Protein Market Overview, By Crop Type Segment
        5.1.1    Global Soy Protein Market Revenue Share, By Crop Type, 2022 & 2028 (Value, %)
    5.2    Genetically Modified Organism Crops
        5.2.1    Soy Protein Share Forecast, By Region (USD Million)
        5.2.2    Comparative Revenue Analysis, By Country, 2022 & 2028
        5.2.3    Key Market Trends, Growth Factors, & Opportunities
    5.3    Non-Genetically Modified Organism Crops
        5.3.1    Soy Protein Share Forecast, By Region (USD Million)
        5.3.2    Comparative Revenue Analysis, By Country, 2022 & 2028
        5.3.3    Key Market Trends, Growth Factors, & Opportunities
        
Chapter 6    Global Soy Protein Market, By Souce Process Segment Analysis

    6.1    Soy Protein Market Overview, By Souce Process Segment
        6.1.1    Global Soy Protein Market Value Share, By Souce Process, 2021 & 2028 (Value, %)
    6.2    Conventional Soy Protein Ingredients
        6.2.1    Soy Protein Share Forecast, By Region (USD Million)
        6.2.2    Comparative Revenue Analysis, By Country, 2022 & 2028
        6.2.3    Key Market Trends, Growth Factors, & Opportunities
    6.3    Organic Soy Protein Ingredients
        6.3.1    Soy Protein Share Forecast, By Region (USD Million)
        6.3.2    Comparative Revenue Analysis, By Country, 2022 & 2028
        6.3.3    Key Market Trends, Growth Factors, & Opportunities
        
Chapter 7    Global Soy Protein Market, By Form Segment Analysis

    7.1    Soy Protein Market Overview, By Form Segment
        7.1.1    Global Soy Protein Market Revenue Share, By Form, 2022 & 2028 (Value, %)
    7.2    Solid/Dry
        7.2.1    Soy Protein Share Forecast, By Region (USD Million)
        7.2.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        7.2.3    Key Market Trends, Growth Factors, & Opportunities
    7.3    Liquid
        7.3.1    Soy Protein Share Forecast, By Region (USD Million)
        7.3.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        7.3.3    Key Market Trends, Growth Factors, & Opportunities
        
Chapter 8    Global Soy Protein Market, By Application Segment Analysis

    8.1    Soy Protein Market Overview, By Application Segment
        8.1.1    Global Soy Protein Market Revenue Share, By Application, 2022 & 2028 (Value, %)
    8.2    Food & Beverages
        8.2.1    Soy Protein Share Forecast, By Region (USD Million)
        8.2.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        8.2.3    Key Market Trends, Growth Factors, & Opportunities
    8.3    Animal Feed
        8.3.1    Soy Protein Share Forecast, By Region (USD Million)
        8.3.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        8.3.3    Key Market Trends, Growth Factors, & Opportunities
    8.4    Nutrition & Health Supplements
        8.4.1    Soy Protein Share Forecast, By Region (USD Million)
        8.4.2    Comparative Revenue Analysis, By Country, 2021 & 2028
        8.4.3    Key Market Trends, Growth Factors, & Opportunities
        
Chapter 9    Soy Protein Market – Regional Analysis, 2022 – 2028

    9.1    Soy Protein market Overview, by Region Segment
        9.1.1    Global Soy Protein market Revenue Share, By Region, 2022 & 2028
        9.1.2    Global Soy Protein Market Revenue, By Region, 2017 – 2028 (US$ Mn)
        9.1.3    Global Soy Protein market Revenue, By Type, 2017 – 2028 (US$ Mn)
        9.1.4    Global Soy Protein market Revenue, By Crop Type, 2017 – 2028 (US$ Mn)
        9.1.5    Global Soy Protein Market Revenue, By Souce Process, 2017 – 2028 (US$ Mn)
        9.1.6    Global Soy Protein Market Revenue, By Form, 2017 – 2028 (US$ Mn)
        9.1.7    Global Soy Protein Market Revenue, By Application, 2017 – 2028 (US$ Mn)
    9.2    North America
        9.2.1    North America Soy Protein Market Revenue, By Country, 2018 – 2028 (US$ Mn)
        9.2.2    North America Soy Protein Market Revenue, By Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.2.3    North America Soy Protein Market Revenue, By Crop Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.2.4    North America Soy Protein Market Revenue, By Souce Process, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.2.5    North America Soy Protein Market Revenue, By Form, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.2.6    North America Soy Protein Market Revenue, By Application, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.2.7    U.S. Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.2.8    Canada Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.2.9    Mexico Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
    9.3    Europe
        9.3.1    Europe Soy Protein Market Revenue, By Country, 2018 – 2028 (US$ Mn)
        9.3.2    Europe Soy Protein Market Revenue, By Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.3.3    Europe Soy Protein Market Revenue, By Crop Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.3.4    Europe Soy Protein Market Revenue, By Souce Process, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.3.5    Europe Soy Protein Market Revenue, By Form, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.3.6    Europe Soy Protein Market Revenue, By Application, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.3.7    Germany Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.3.8    France Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.3.9    U.K. Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.3.10    Italy Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.3.11    Spain Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.3.12    Rest of Europe Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
    9.4    Asia Pacific
        9.4.1    Asia Pacific Soy Protein Market Revenue, By Country, 2018 – 2028 (US$ Mn)
        9.4.2    Asia Pacific Soy Protein Market Revenue, By Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.4.3    Asia Pacific Soy Protein Market Revenue, By Crop Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.4.4    Asia Pacific Soy Protein Market Revenue, By Souce Process, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.4.5    Asia Pacific Soy Protein Market Revenue, By Form, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.4.6    Asia Pacific Soy Protein Market Revenue, By Application, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.4.7    China Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.4.8    Japan Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.4.9    India Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.4.10    South Korea Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.4.11    South-East Asia Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.4.12    Rest of Asia Pacific Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
    9.5    Latin America
        9.5.1    Latin America Soy Protein Market Revenue, By Country, 2018 – 2028 (US$ Mn)
        9.5.2    Latin America Soy Protein Market Revenue, By Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.5.3    Latin America Soy Protein Market Revenue, By Crop Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.5.4    Latin America Soy Protein Market Revenue, By Souce Process, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.5.5    Latin America Soy Protein Market Revenue, By Form, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.5.6    Latin America Soy Protein Market Revenue, By Application, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.5.7    Brazil Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.5.8    Argentina Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.5.9    Rest of Latin America Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
    9.6    The Middle-East and Africa
        9.6.1    The Middle-East and Africa Soy Protein Market Revenue, By Country, 2018 – 2028 (US$ Mn)
        9.6.2    The Middle-East and Africa Soy Protein Market Revenue, By Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.6.3    The Middle-East and Africa Soy Protein Market Revenue, By Crop Type, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.6.4    The Middle-East and Africa Soy Protein Market Revenue, By Souce Process, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.6.5    The Middle-East and Africa Soy Protein Market Revenue, By Form, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.6.6    The Middle-East and Africa Soy Protein Market Revenue, By Application, 2018 – 2028 (US$ Mn)/(Kilo Tons)
        9.6.7    GCC Countries Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.6.8    South Africa Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)
        9.6.9    Rest of Middle-East Africa Soy Protein Market Revenue, 2018 - 2028 (US$ Mn)/ (Kilo Tons)

Chapter 10    Soy Protein Market – Industry Analysis

    10.1    Introduction
    10.2    Market Drivers
        10.2.1    Driving Factor 1 Analysis
        10.2.2    Driving Factor 2 Analysis
    10.3    Market Restraints
        10.3.1    Restraining Factor Analysis
    10.4    Market Opportunities
        10.4.1    Market Opportunity Analysis
    10.5    Porter’s Five Forces Analysis
    10.6    PEST Analysis
    10.7    Regulatory Landscape
    10.8    Technology Landscape
    10.9      Value Chain Analysis

Chapter 11    Competitive Landscape

    11.1    Company Market Share Analysis – 2022
        11.1.1    Global Soy Protein market: Company Market Share, 2022
        11.1.2    Global Soy Protein Market: Company Market Share, 2022
    11.2    Strategic Developments
        11.2.1    Acquisitions & Mergers
        11.2.2    New Product Launch
        11.2.3    Regional Expansion
    11.3    Company Strategic Developments – Heat Map Analysis

Chapter 12    Company Profiles

    12.1    Archer Daniels Midland Company (U.S.)
        12.1.1    Company Overview
        12.1.2    Key Executives
        12.1.3    Product Portfolio
        12.1.4    Financial Overview
        12.1.5    Operating Business Segments
        12.1.6    Business Segment Performance
        12.1.7    Recent Developments
    12.2    Cargill, Incorporated (U.S.)
    12.3    Kerry Group plc (Ireland)
    12.4    International Flavors & Fragrances Inc. (U.S.)
    12.5    NOW Health Group, Inc. (U.S.)
    12.6    Burcon NutraScience Corporation (Canada)
    12.7    Sotexpro (France)
    12.8    Farbest Brands (U.S.)
    12.9    Wilmar International Limited (Singapore)
    12.10    CHS Inc. (U.S.)
    12.11    Devansoy Inc. (U.S.)

Chapter 13    Research Methodology

    13.1    Research Methodology
    13.2    Phase I – Secondary Research
    13.3    Phase II - Data Modeling
        13.3.1    Company Share Analysis Model
        13.3.2    Revenue Based Modelling
    13.4    Phase III – Primary Research
    13.5    Research Limitations
        13.5.1    Assumptions
No Methodology
No Available