Soy Protein Market Size, Company Revenue Share, Key Drivers and Trend Analysis, 2020–2027
Soy Protein Market Size, Company Revenue Share, Key Drivers and Trend Analysis, 2020–2027
Published by news degree
Posted on August 4, 2021
According to the current analysis of Reports and Data, the global soy protein market was valued at USD 9.98 Billion in 2019 and is expected to reach USD 16.1 Billion by the year 2027, at a CAGR of 7.0%. Soy protein is a high-quality, complete protein that provides the essential amino acids necessary for protein synthesis in muscle and other tissues. In recent times, there is a significant rise in the consumption of protein-rich options. These ingredients, particularly isolates, are widely used as key ingredients in such products due to their protein quality and proven health benefits. These ingredients continue to show dynamic growth in the food and beverage market, particularly in products targeting weight management and sports nutrition. In addition to that, it has a unique amino acid arrangement, making it a complete protein and the best alternative for dairy and meat -a suitable choice for the vegan population segment. Increasing health and wellness trend, raising awareness about the benefits of protein, and growing demand for protein-rich diet, are some of the important factors driving the growth of the market. In addition to that, increasing consumers’ focus on meat alternatives, growing demand from the food and beverage industry, and advancement in ingredient technologies such as microencapsulation also helps in the growth of the soy protein market.
Key participants include Wilmar International Limited, Nisshin Oillio Group, Ltd., Ruchi Soya Industries Ltd, AG Processing Inc, Devansoy Inc., The Scoular Company and Biopress SAS, Cargill, E. I. du Pont de Nemours and Company, Archer Daniels Midland Company, CHS Inc., Kerry Group plc.
Further key findings from the report suggest
Soy Protein comprises of multitudes of health-enhancing phytochemicals. Scientific research has established many connections between soy consumption and lower rates of certain cancers, particularly breast, prostate, stomach, colon, and lung. Colorectal cancer is the second most deadly cancer worldwide, with about 881,000 deaths estimated for 2018.
Over the past few years, there has been an increasing demand for soy protein ingredients from emerging markets, particularly from China. It is one of the world’s largest producers and importers of soybeans. However, the recent outbreak of ASF (African Swine Flu) in China’s pig rearing industry has led to a slump in demand for soymeal, which is used extensively as pig feed. The recent trade deal between the U.S. and China on the 15th of January 2020 amounting to USD 50 billion dollars of agricultural imports to China from the U.S. is expected to increase the supply of soy ingredient proteins in the country.
The U.S. is China’s second-biggest supplier of soybeans and other soy ingredients, and increasing production volumes in recent years highlight the importance of this ingredient in emerging economies like China, where it is used both as a feed and food source.
Ideal for women and for men over 40, soy protein contains numerous phytochemicals, which are said to be beneficial for helping to support cardiovascular health, optimal cholesterol levels, osteoporosis prevention, and possibly cancer prevention.
Many companies are expanding their production capacities to cater to the increasing demand for soy protein. For e.g., In 2019, Ingredion, Inc. announced its investment of USD 185 million for expansion of plant protein ingredient plant-based in Vanscoy, Saskatchewan, and Canada in order to increase the company’s production capacity which is likely to capture the soy protein market in the coming years.
In the product segment, protein concentrates in North America generated a notable revenue of USD 966.81 in 2019 and is anticipated to reach 1,385.39 million during the forecast period. Growing preference of concentrates in animal feed is identified as one of the fastest-growing animal agriculture sectors owing to the rising need to cultivate healthy species to satisfy the food requirements of the ever-increasing world population; aquaculture producers are seeking more nutritive and sustainable aqua-feed.
In terms of application, meat alternatives are anticipated to grow at the highest rate of 6.0% during the forecast period. Dollar sales of plant-based meat grew 18% in the past year and 38% over the past two years, and soya chunks accounted for a notable share in the plant-based meat category.
On the basis of region, North America is expected to be the largest region for soy protein market during the forecast period. Recent consumer trends toward “cholesterol-free” food products have helped raise the demand for soy protein ingredients, impacting the demand for animal proteins.
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
According to the current analysis of Reports and Data, the global soy protein market was valued at USD 9.98 Billion in 2019 and is expected to reach USD 16.1 Billion by the year 2027, at a CAGR of 7.0%. Soy protein is a high-quality, complete protein that provides the essential amino acids necessary for protein synthesis in muscle and other tissues. In recent times, there is a significant rise in the consumption of protein-rich options. These ingredients, particularly isolates, are widely used as key ingredients in such products due to their protein quality and proven health benefits. These ingredients continue to show dynamic growth in the food and beverage market, particularly in products targeting weight management and sports nutrition. In addition to that, it has a unique amino acid arrangement, making it a complete protein and the best alternative for dairy and meat -a suitable choice for the vegan population segment. Increasing health and wellness trend, raising awareness about the benefits of protein, and growing demand for protein-rich diet, are some of the important factors driving the growth of the market. In addition to that, increasing consumers’ focus on meat alternatives, growing demand from the food and beverage industry, and advancement in ingredient technologies such as microencapsulation also helps in the growth of the soy protein market.
Key participants include Wilmar International Limited, Nisshin Oillio Group, Ltd., Ruchi Soya Industries Ltd, AG Processing Inc, Devansoy Inc., The Scoular Company and Biopress SAS, Cargill, E. I. du Pont de Nemours and Company, Archer Daniels Midland Company, CHS Inc., Kerry Group plc.
Further key findings from the report suggest
Soy Protein comprises of multitudes of health-enhancing phytochemicals. Scientific research has established many connections between soy consumption and lower rates of certain cancers, particularly breast, prostate, stomach, colon, and lung. Colorectal cancer is the second most deadly cancer worldwide, with about 881,000 deaths estimated for 2018.
Over the past few years, there has been an increasing demand for soy protein ingredients from emerging markets, particularly from China. It is one of the world’s largest producers and importers of soybeans. However, the recent outbreak of ASF (African Swine Flu) in China’s pig rearing industry has led to a slump in demand for soymeal, which is used extensively as pig feed. The recent trade deal between the U.S. and China on the 15th of January 2020 amounting to USD 50 billion dollars of agricultural imports to China from the U.S. is expected to increase the supply of soy ingredient proteins in the country.
The U.S. is China’s second-biggest supplier of soybeans and other soy ingredients, and increasing production volumes in recent years highlight the importance of this ingredient in emerging economies like China, where it is used both as a feed and food source.
Ideal for women and for men over 40, soy protein contains numerous phytochemicals, which are said to be beneficial for helping to support cardiovascular health, optimal cholesterol levels, osteoporosis prevention, and possibly cancer prevention.
Many companies are expanding their production capacities to cater to the increasing demand for soy protein. For e.g., In 2019, Ingredion, Inc. announced its investment of USD 185 million for expansion of plant protein ingredient plant-based in Vanscoy, Saskatchewan, and Canada in order to increase the company’s production capacity which is likely to capture the soy protein market in the coming years.
In the product segment, protein concentrates in North America generated a notable revenue of USD 966.81 in 2019 and is anticipated to reach 1,385.39 million during the forecast period. Growing preference of concentrates in animal feed is identified as one of the fastest-growing animal agriculture sectors owing to the rising need to cultivate healthy species to satisfy the food requirements of the ever-increasing world population; aquaculture producers are seeking more nutritive and sustainable aqua-feed.
In terms of application, meat alternatives are anticipated to grow at the highest rate of 6.0% during the forecast period. Dollar sales of plant-based meat grew 18% in the past year and 38% over the past two years, and soya chunks accounted for a notable share in the plant-based meat category.
On the basis of region, North America is expected to be the largest region for soy protein market during the forecast period. Recent consumer trends toward “cholesterol-free” food products have helped raise the demand for soy protein ingredients, impacting the demand for animal proteins.
Thank you for reading our report. To know more about the customization feature, please get in touch with us and our team will ensure the report is customized to meet your requirements.
Explore Reports and Data’s Prime Analysis of the global Foods & Beverage:
Kava Root Extract Market Size, Share & Analysis, By Application, By Type and By Region Forecast To 2027
Cassava Starch Market Size, Share & Analysis, By Type, By Application, And By Region Forecast To 2028
Meat Starter Cultures Market Size, Share & Analysis, By Type, By Application and By Region, Global Forecast To 2028
Organic Feed Market Size, Share & Analysis, By Product, By Application and Forecasts To 2027
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
