August 2024
Soy Protein Ingredients Market (By Product: Concentrates, Isolates, Textured, Flour; By Nature: Organic, Conventional; By Type: GMO, Non-GMO; By Application: Food and Beverages, Animal Feed) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
The global soy protein ingredients market size was USD 5.52 billion in 2023, calculated at USD 6.07 billion in 2024 and is expected to reach around USD 14.37 billion by 2033. The market is expanding at a solid CAGR of 10.04% over the forecast period 2024 to 2033. The rising demand for natural protein sources is driving the growth of the market.
The Asia Pacific soy protein ingredients market size was exhibited at USD 2.26 billion in 2023 and is projected to be worth around USD 5.96 billion by 2033, poised to grow at a CAGR of 10.18% from 2024 to 2033.
Asia Pacific led the soy protein ingredients market with the largest market share in 2023. The region is observed to sustain the position during the forecast period. The growth of the market is attributed to the rising demand for the vegetarian source of protein due to the higher number of vegetarian people owing to their choices, religious believe, health conditions, and others are driving the demand for the soy ingredients market. Additionally, the rise in consumption of processed food products, packaged snacks and other food items that driving the demand for soy protein as additive ingredients such as emulsifier, preservative, and others. Available number of food industry players in the region is contributing to the growth of the soy protein ingredients market in the region.
North America is expected to witness the fastest growth in the market during the forecast period. The growth of the market is attributed to the rising preferences towards the vegan and vegetarian diet in the people. The rising awareness about the benefits of plant-based protein in the population is driving the growth of the market. The rising adoption of technologies in the food and beverages manufacturing companies and the rising adoption of the soy protein ingredients as an emulsifier in the food products are driving the growth of the soy protein market in the region.
Soy protein is a healthy, environmentally friendly, and cost-effective solution to animal-based protein sources. It derives from the soybeans, that can be harvested and processed into high protein products like soy concentrators, soy flour, soy milk, and soy isolated that can be used in the production of soy protein ingredients. Soy protein is highly nutritious to the human body and known as the most cost-efficient source of protein. The increasing inclination towards vegetarian food and vegan diet as the regular lifestyle is driving the demand for the soy protein ingredients for catering the protein demand of vegetarian and vegan population. These ingredients are highly used in packaged products that also boost the growth of the market.
Report Coverage | Details |
Market Size by 2033 | USD 14.37 Billion |
Market Size in 2023 | USD 5.52 Billion |
Market Size in 2024 | USD 6.07 Billion |
Market Growth Rate from 2024 to 2033 | CAGR of 10.04% |
Largest Market | Asia Pacific |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | Product, Nature, Type, Application, and Regions |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Diversion into the vegetarian and vegan diet
The rising awareness about the environmentally free and sustainable food product that less harmful for the body and the environment is driving the demand for the market. The rising number of populations diverting into the non-veg to vegetarian and vegan lifestyle is diving the demand for the soy based food products for catering their regular protein requirements. Soy is majorly used as the alternative or plant-based source of protein to the meat. Soy is used for the production of food products like tofu, soy milk, tempeh, and other soy based meat and dairy alternative products. The rising inclination towards the vegan diet by the people is highly contributing in the demand for the soy protein ingredients market.
Competition from alternative proteins
Soy cultivation has been associated with deforestation, particularly in regions like the Amazon rainforest. Environmental concerns and the push for more sustainable agricultural practices can affect the perception and marketability of soy protein ingredients. The rise of alternative protein sources, such as pea protein, rice protein, and insect protein, provides significant competition. These alternatives are often marketed as being more sustainable or having different health benefits, which can sway consumer preference away from soy protein.
Integration of soy protein in skincare products
Soy protein is a beneficial product that can be added to a skincare routine. The increasing adoption of soy protein ingredients in skincare and cosmetics products due to their advantageous properties for maintaining healthy and younger-looking skin opens up a sustainable opportunity for the entire industry. Soy protein is a rich source of arginine, amino acids, and glutamine that helps maintain healthy, youthful skin. Soy protein also has essential components such as Vitamin E, protecting the skin from radical damage.
It is an excellent choice for removing acne, scars, and sensitive skin issues; it has incredible anti-inflammatory properties that make it suitable for reducing irritation and redness in the skin. Major skincare and cosmetics brands are using organic materials to produce their products, further driving growth opportunities in the soy protein ingredients market.
The soy isolate segment dominated the soy protein ingredients market with the largest share in 2023. Soy isolate is a highly nutritious and cost-effective protein obtained from soybeans. Soy isolates are widely adopted as they help reduce weight, build muscles, and boost energy, acting as a nutritious factor for the human body. Soy protein isolated is an efficient protein used to improve the overall health of the human body. Soy protein isolate also helps maintain and manage hormonal balance and decreases the risk of heart disease, breast cancer, and osteoporosis.
Soy protein isolates are an overall combination of vitamins and minerals and do not require any additional nutrition. They have several health benefits, such as helping to lower cholesterol levels. Soy protein is a healthier substitute for protein for vegan and vegetarian people. Soy protein is a plant-based protein that makes cardiovascular conditions stable and healthy.
Soy protein isolates are generally known for improving gastrointestinal health, though they have a good amount of soy fiber. The rising consumption of soy protein isolates by people in their regular diets, such as breakfast cereal, baby foods, and processed meats, acts as a growth factor for the segment's overall growth.
The organic segment held the largest soy protein ingredients market share in 2023. The segment's growth is attributed to the rising preference towards vegetarian and vegan diets and sustainable lifestyles driving the inclination towards organic food. Soy protein is a fully organic product made from plant-based protein, including all essential amino acids, with the overall nutrition that makes the human body healthy. Organic plant-based protein has lower heart-harming saturated fats, is free of antibiotics and harmful bacteria, and is easier to digest.
The organic plant-based protein makes the body firmer and youthful for a more extended period. There are several health benefits associated with organic plant-based protein; the body quickly absorbs it, though it is easily digestible; it is a good source of iron, loaded with healthy fats and healthy guts, and helps in life-loving. The rising demand for organic food products is contributing to expanding the soy protein ingredients market.
The GMO-type segment dominated the soy protein ingredients market in 2023. GMOs are genetically modified organisms that are processed proteins obtained from soybeans. This type of protein is genetically modified to produce specific desired traits like resistance to herbicides or pests. GMO soy protein is used in food products such as protein bars, processed foods, and dietary supplements. GMO soy protein is also one of the best alternative sources of protein to animal-based protein. GMO soy protein carries another benefit: adding the emulsifier to the packed food products helps mix the ingredients. The GMO emulsifier is used in products like mayonnaise, salad dressings, and baked foods.
The food and beverages segment dominated the soy protein ingredients market in 2023. The market's growth is due to the rising demand for plant-based protein in various food and beverage products as an alternative to animal-based protein, emulsifiers, and protein sources. Soy protein is an excellent source of nutrition, vitamins, and minerals to keep the body healthy. Soy protein has additional benefits, such as managing hormonal changes and reducing the risk of heart issues and some types of cancer. Soy protein is added to various food products due to its unique functional and nutritious quality and good quality protein. Soy can be used as a fat substitute in food products like fish, cereal-based products, and milk. Most food and beverage companies use soy protein ingredients to improve the overall quality of their food products.
Segments Covered in the Report
By Product
By Nature
By Type
By Application
By Geography
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