Consumer Goods and Services,  Food and Beverages

Soy Protein Market worth 13.5 Billion USD by 2024 Globally

Market Overview

Increasing awareness about the varying health benefits of soy proteins around the globe has led to a rise in its demand in recent years. Soy proteins are a good source of amino acids and serve as a good substitute for meat protein as well as milk proteins, especially for the vegetarian and lactose intolerant population.
Globally, soy proteins witness huge demand for usage in animal feed as well, apart from human consumption. The high nutrition content of soy proteins make their consumption beneficial for people suffering from a variety of issues like diabetes and cardiac problems. Soy foods are said to be rich in phytoestrogens, touted to lower the risks of diseases like osteoporosis and hormone dependent cancer, as per UN data. The easily digestible nature of soy proteins make them suitable for consumption by all age groups. A global rise in health consciousness, especially among the urban population, has led to growth in the demand for soy proteins. Rapid advancements in technology for modification and processing of proteins have further expanded the market.
Demand for soy proteins is also driven by health and nutrition food needs by athletes and sportspersons. Soy proteins also find usage as ingredients across various food industry horizontals like baking and confectionary, infant foods and dairy replacements, among others.

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Market Segmentation

By Product Type

Soy Protein Concentrates
Soy Protein Isolates
Soy Flour
Textured Soy Proteins

By Application

Bakery and Confectionary Foods
Infant Foods
Functional Foods
Dairy Foods Replacements
Meat Alternatives

By Region

North America US, Canada {Market Share % , Market Size USD Billion , Adoption Rate % }
Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion , Adoption Rate % }
Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion , Adoption Rate % }
Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion , Adoption Rate % }
Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion , Adoption Rate % }
Rest of the World {Market Share % , Market Size USD Billion , Adoption Rate % }

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Market Size and Forecast 2016-2024

The Global Soy Protein Market was valued at USD 7.5 billion for 2016. On the back of rising adoption of healthy lifestyles, the market is set to grow at a CAGR of 7.5% during the forecast period and reach a valuation of approximately USD 13.5 billion by 2024.
Among all types of soy protein, the largest chunk of the market is occupied by soy protein isolates. This is mainly due to the high protein content of over 90% in the isolates, making the most favorable option.
Geographically, North America accounts for the largest market share in terms of revenue. Asia Pacific is set to witness the highest growth during the forecast period, on the back of a rising urban population and growing health consciousness. Demand growth in the region will be led by China owing to its rising population and urbanization, fuelled by its food security issues.

Key Drivers

Inclination of the global population towards healthy lifestyles and the increasing awareness of the multiple heath benefits of soy proteins are the key factors that will drive demand in the forecast period. As the health consciousness is more prominent among the urban populations, the global rise in urbanization will further contribute to rise in demand for soy proteins.
Soy proteins are particularly popular among the vegetarian population as they cannot consume meat proteins. As more and more people are turning vegan or vegetarian, demand for soy proteins will further increase.
Low fat content and sustainable nature of the crop add to the popularity of soy proteins. Owing to its nutrient content, soy protein consumption is beneficial for people with high cholesterol, osteoporosis, diabetes, hormone dependent cancer or cardiac problems. It is also advantageous for women’s and children’s health, and is good for consumption by women going through pregnancy or menopause.
Rising popularity of infant foods rich in protein will further propel growth in the market.

Restraints and Risk Factors

Despite its various health benefits, soy proteins can be allergic in nature. Concerns over allergy restrict demand act as restrains for the market.
Other sources of plant protein, and animal proteins are also available which might be used as substitutes for soy proteins, further inhibit demand growth and act as risks for players n the soy protein market.

Opportunities

Demand growth in developing countries is expected to exceed growth in developed countries by a huge margin. Entrants can tap the opportunities in the developing economies of the Asia Pacific region and avail the benefits of the high growth rate.

Key Players

Cargill Inc
Archer Daniels Midland Company
DuPont Nutrition and Health
Wilmar International
Sojaprotein
IMCOPA
CHS
Goldensea Industry
Gushen Biological Technology Group
Tiancheng Agricultural Development Group
Yuwang Group
Shandong Wonderful Industrial Group
Shandong Yuxin Bio-Tech
Hongzui Group
MECAGROUP

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Scope Background

Market Synopsis
Market Segmentation

Global Soy Protein Market is segmented as follows:

By product type Market Size, Demand Analysis and Growth Analysis
By application Market Size, Demand Analysis and Growth Analysis

Global soy protein market report covered insights of below mentioned regions:

North America U.S., Canada {Market Size, Growth Analysis and Opportunity Analysis}
Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Opportunity Analysis}
Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Opportunity Analysis}
Asia-Pacific China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Opportunity Analysis}
Middle East and North Africa MENA {Market Size, Growth Analysis and Opportunity Analysis}
Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

Risk Factors
Regional Variations
Recent Trends and Developments
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks

Customization of this Report can be done as per client’s requirement.

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Organization: Planet Market Reports

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