As per the latest report by Reports and Data, the global soy protein market had a size of USD 6.56 billion in 2021 and is projected to achieve a revenue CAGR of 9.8% during the forecast period. The market's revenue growth is anticipated to be propelled by factors such as growing awareness about the advantages of soy protein, changing consumer attitudes toward nutrition, and the increasing trend of veganism, which is associated with health benefits derived from vegan diets.
The expansion of health and fitness centers worldwide has led to a rapid surge in soy protein adoption. Soy protein, which contains 90% protein, is known to help reduce blood pressure, enhance energy levels, and has minimal levels of saturated fat. Several international health organizations and government initiatives are promoting the intake of soy protein, which is creating new and more profitable prospects for players in the global soy protein market
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Top Companies Operating in the Global Soy Protein Market Report:
Wilmar International Ltd, The Nisshin OilliO Group, Ltd., Patanjali Foods Ltd., Ag Processing Inc. a cooperative, Devansoy Inc., Cargill, Incorporated., DuPont, ADM, Kerry Group plc., and CHS Inc.
Major Restraints for Soy Protein Market:
- Allergies: Soy protein may cause allergies in some individuals, which can limit its consumption among a segment of the population.
- Availability of alternative protein sources: There are several alternative protein sources available in the market, such as whey, pea, and rice protein, which may limit the growth of the soy protein market.
- Price fluctuations: The price of soy protein is subject to fluctuations due to changes in supply and demand, which can impact the market's growth.
- Negative impact on the environment: The production of soy protein can have a negative impact on the environment, such as deforestation and the use of pesticides, which can result in a decrease in demand for soy protein.
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The global Soy Protein market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Soy Protein Isolates
- Soy Protein Concentrates
- Textured Soy Protein
- Soy Flour, Grits, and Chunks
Form Outlook (Revenue, USD Billion; 2019-2030)
- Powder
- Ready-to-Drink
- Bars
- Capsules Tablets
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Feed
- Food
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Specialty Store
- Convenience Store
- E-Commerce/Online Sale Channel
- Supermarket/Hypermarket
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