PUBLISHER: Allied Market Research | PRODUCT CODE: 1193193
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193193
The global soy protein isolate market was valued at $2.9 billion in 2021, and is projected to reach $4.5 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031. Soy protein is considered as a complete protein supplement, which is composed of all nine essential amino acids. These proteins are versatile in their usage and are widely applicable in infant foods, bakeries & confectioneries, and dairy products. Moreover, functional beverages, such as wine, use soy as a key ingredient in their production processes. Soy protein ingredient is considered to be the finest substitute for animal protein. It comprises amino acids and is rich in fiber, calcium, iron, potassium, polyunsaturated fats, lecithin, magnesium, and vitamin B, thus exhibiting health-related benefits and functional properties. In addition, it is used as an emulsifier, gel, tenderizer, binder, stabilizer, and thickener in the food & beverage processing industry.
Major factors that drive the growth of the global soy protein isolate market include a rise in health consciousness and an increase in awareness regarding the disadvantages of protein deficiency. In the present world, the majority of the population is engaged in deskbound jobs, which has led to adoption of sedentary lifestyle, primarily among the youth. As functional foods are efficient in mitigating the problems that grow or develop due to sedentary lifestyle and owing to the adoption of non-optimal eating habits, large number of consumers have been adopting soy protein isolate, thereby augmenting the market growth. Moreover, the cost of healthcare has mounted, due to which consumers prefer to stay healthy and are opting for a healthy diet and better food products. Thus, this factor has led to rise in consumption of healthy and plant-based meals among the working youth, which helps them to stay healthy and fit.
Currently, the global soy protein isolate market witnesses numerous opportunities due to an increase in the usage of dairy ingredients/alternatives among consumers globally, a rise in the use of soy protein isolate as a wellness trend, and a surge in high-quality protein supplements in the food industry. In addition, the increase in popularity of soy supplements among youngsters, the rise in the consumption of pediatric milk, especially in emerging countries, and advancements in production technologies are some key factors that accelerate the global market growth. Furthermore, Asia-Pacific and Latin America fuel the demand for soy protein isolate, owing to the increase in the number of working women and the health-concerned population. However, lack of standardization of regulation, fluctuation in soybean prices, and issues associated with an increase in the prevalence of diseases among soybean plants are anticipated to hamper the market growth.
On the contrary, key players of the soy protein isolate market are entering into the animal feed segment to increase in focus on the quality of animal food products to upgrade the food chain, which is anticipated to offer remunerative opportunities for market growth during the forecast period. Being identified as the leading sector in agriculture, aquaculture producers are moving ahead to make huge investments in the soy protein ingredient. Besides aquaculture producers, livestock farmers further appreciate the health benefits offered by the usage of soy protein concentrate to animal feeds, which is likely to foster soy protein isolate market growth during the forecast period.
The soy protein isolate market is segmented into application, form, end user, and region. Depending on the application, the market is divided into food, beverage, medicines, and others. On the basis of form, the market is segregated into organic and conventional. On the basis of end user, the market is bifurcated into commercial and residential. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for more than 35% share of the total revenue in 2021, followed by Europe and Asia-Pacific.
The players operating in the global soy protein isolate market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the soy protein isolate market include, AG Processing Inc., Archer-Daniels-Midland Company, Cargill, Inc., CHS Inc., Doves Farm Foods Ltd., E. I. Du Pont De Nemours and Company (Dupont Nutrition and Health), Kerry Group, Plc., Kraft Heinz Company, the Kellogg Company, and Wilmar International Limited.
Key Benefits For Stakeholders
By Application
By Form
By End User
By Region