Soy Protein Market - By Type , Application , Geography -Forecast (2024 - 2030)

Soy Protein Market Overview:

Soy Protein Market Size is forecast to reach $ 9294.0 Million by 2030, at a CAGR of 6.20% during forecast period 2024-2030. According to the Centers for Disease Control and Prevention (CDC), 102 million American adults have cholesterol levels at or above 200 mg/dL, of which 35 million people have surpassed the 245 mg/dL mark -  making them susceptible to heart diseases.^[1] The disquieting situation of high cholesterol levels worldwide is creating opportunities for nutrients that reduce the risk of heart diseases; thereby boosting demand for the soy protein market, which registered a global valuation of $5.14 billion in 2018.

Demand for soy protein is expected to grow at a CAGR of 6.20% during the forecast period 2024 to 2030. Furthermore, growing obesity rates in countries like the U.S. and Mexico boosted the soy protein market, causing North America to register 39% of the global market demand in 2018.   

Soy Protein Market Outlook:

Soy protein concentrates have lesser amounts of carbohydrates, and are available in the market as soy protein meat, soy protein isolate nutrition, soy protein powder, and soy protein estrogen. It finds applications in the food & beverages (F&B) industry and in the nutraceutical ingredients market as well. Owing to application of soy protein in a variety of food items such as cheese, drinks, miso, tempeh, tofu, salami, and vegetarian meat substitutes; the F&B application segment is expected to register a CAGR of 6.6% for the soy protein market. Growth prospects offered by the soy lecithin market are also causing an increase in the application of soy protein in the F&B industry.

Soy Protein Market Growth Drivers:

· The Growing Number of Cancer Cases Boosting the Soy Protein Market –

According to the World Health Organization (WHO), 2018 saw 18.1 million new incidences of cancer globally while 9.6 million people died.^[2] Growing concerns relating to increasing incidences of cancer is creating a demand for products that can reduce risk of the same. Soy protein is found to be helpful in healing cancer, or even preventing it. The future foresees more people incorporating soy protein in their diets to avoid the perils of the chronic disease.

· The Growing Awareness Among Consumers –

Internet has enabled easy access to information regarding health and wellness. This has created a sense of awareness regarding healthy foods among consumers, and the benefits of soy protein. This is coupled with the fact that people now have higher disposable personal income (DPI), which enables them to spend more money to buy soy protein products that are expensive as compared to whey protein ones. The growing awareness coupled with DPI is creating a lucrative soy protein marketplace for vendors.

Soy Protein Market Trends –

· The Nascent Sports Nutrition Trend –

Growing consumption of proteins by athletes is being leveraged by the soy protein market. The increasing popularity can be attributed to the fact that soy protein has been found to be beneficial for bones, and aids muscle building.

· The Regulatory Bodies Affecting the Soy Protein Market –

In 2017, the U.S. Food and Drugs Administration (FDA) evaluated benefits of soy protein for heart diseases, and concluded that the protein doesn’t have a direct benefit in that regard. However, there is a relationship between consumption of soy protein and reduced risk of heart diseases. The evaluation is not dwarfing the soy protein market size, but there is a possibility of re-evaluation in the future that may cause disruption in the industry.

Soy Protein Market Key Players Perspective –

The major market players in the soy protein market are Wilmar International, CHS Inc., The Archer Daniels Midland Company, Crown Soya Protein Group, DowDuPont Inc., Linyi Shansong Biological Products Co. Ltd., Cargill Corporation, Shandong Yuxin Bio-Tech Co. Ltd., Sonic Biochem, and Hung Yang Foods Co. Ltd.

Soy Protein Market Research Scope:

The base year of the study is 2023, with forecast done up to 2030. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the construction market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The soy protein market research report also analyses the application of soy protein in functional food, baby food, dairy substitutes, meat substitutes, bakery products, and confectionery products.

Soy Protein Market Report: Industry Coverage

The soy protein market report identified the current trends, opportunities, and challenges in the industry along with a detailed depiction of strategies by the existing market players. Furthermore, the report analyses the soy protein market on the basis of type that includes isolates, concentrates, and soy flour.

The report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia

Key Questions Addressed in the Soy Protein Market Report

Is the market demand for soy protein growing? How long will it continue to grow and at what rate?

Which type of soy protein presents the major growth opportunities?

Is there a possibility for change in the market structure over time?

Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

What are the short-term, long-term, and medium-term growth drivers for the market?

What are the short-term, medium-term, and long-term challenges for the market?

What are the short-term, medium-term, and long-term opportunities for the market

Who are the top players/companies of the market?

What are the recent innovations in the market?

How many patents have been filed by the leading players?

What are the types of patents filed by the leading players?

What is our Vision 2030 for the soy protein market?

A Few Focus Points Of This Research Are Given Below:

• Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
• Provide an overview of the product portfolio, including product planning, development, and positioning
• Discuss the role of technology companies in partnerships
• Explore the regional sales activities
• Analyze the market size and giving the forecast for current and future global soy protein market during the forecast 2019–2025
• Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures

References -

[1] https://www.cdc.gov/cholesterol/cholesterol_education_month.htm

[2] https://www.who.int/cancer/PRGlobocanFinal.pdf

Key Market Players:

The Top 5 companies in the Soy Protein Market are:

1. ADM
2. Crown Soya Protein Group
3. Cagill Inc
4. CHS Inc.
5. Fuji Oil Holdings

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