Soy protein ingredients market increasing at a phenomenal pace to reach more than USD 18.19 Billion by 2028

Major companies in soy protein ingredients market are DuPont Nutrition & Health, Archer Daniels Midland Company, Cargill Incorporated, Wilmar International Ltd., CHS Inc., Kerry Group plc., Ag Processing Inc., Kellogg Company, Doves Farm Foods, and Kraft Foods Group Inc., among others. These players are set to bolster the development of global soy protein ingredients market.

According to analysts at Zion Market Research, the global virtual reality market accounted for more than USD 9.61 Billion in 2020 and is expected to reach USD 18.19 Billion by 2028, growing at a CAGR of 8.3% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Soy Protein Ingredients Market by Type (Soy Protein Isolates, Soy Protein Concentrates, and Soy Flours) and Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, and Infant Foods): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”

Vegan diet and healthy lifestyles driving the soy protein ingredients market

The global soy protein ingredients market is being driven by a growing trend toward vegan diets, as well as the functional efficiency, cost competitiveness, and increasing use of such plant protein products in a wide range of processed foods, particularly in the ready-to-eat product category. The most eminent forms of soy protein are isolates and concentrates, which contain 90 % and 70 % protein, respectively. Soy protein's high functional properties and natural health benefits are propelling its market growth. Because of its high sustainability, soy protein is becoming more popular in a variety of end-user industries. The strong scientific evidence supporting health benefits is one of the key drivers for market growth. Scientists' ongoing research has proven that protein ingredients are the best source for keeping the body fit. Cancer patients can also benefit from whey proteins. In recent years, increasing consumer awareness, particularly of functional foods and dietary supplements, has been a critical factor in market growth. Plant and dairy proteins are expected to see increased demand over the next six years, as egg proteins face market penetration challenges due to high prices and increased sensitivity to wheat glucans, particularly in the United States.

Soy proteins are one of the most popular meat and dairy protein substitutes, which has helped food manufacturers reduce costs and increase product profitability. Due to their functional and nutritional properties, they are used in a variety of food applications such as bakery, confectionery, emulsion-type sausages, dairy replacers, functional beverages and nutritional bars, and breakfast cereals. They're also used in livestock feed, aquaculture, and pet food as nutritional ingredients. Soy protein is a good substitute for meat and dairy proteins because it has several nutritional benefits. As the cost of meat and dairy proteins has risen, manufacturers and consumers alike have turned to it as a less expensive alternative that provides the same nutritional benefits.

Changed eating habits attributable to North American dominance in the market

Because of factors such as changing lifestyles, a lack of balanced dietary intake, and global manufacturers' increased focus on R&D to develop new types of soy-protein-enriched products, the soy protein ingredient market in North America is growing rapidly. The United States continues to dominate the soy protein ingredient market, followed by Canada and Mexico.

Due to increased awareness for healthy and plant-based products and an increase in the number of counterfeit products on the market, consumers in the region are switching to other alternative products, such as green label food products. Also owing to increased awareness of the health benefits associated with the consumption of organic products, particularly plant-based ones.

Browse the full “Soy Protein Ingredients Market by Type (Soy Protein Isolates, Soy Protein Concentrates, and Soy Flours) and Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, and Infant Foods): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/soy-protein-ingredients-market

The global soy protein ingredient market is segmented as follows:

By Type

• Soy Protein Isolates
• Soy Protein Concentrates
• Soy Flours

By Application

• Bakery & Confectionery
• Meat Alternatives
• Functional Foods
• Dairy Replacements
• Infant Foods

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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