The global soy protein ingredients market size was valued at USD 8,328.03 million in 2021. It is expected to reach USD 10,593.92 million by 2030, growing at a CAGR of 2.71% during the forecast period (2022–2030).
Organic foods are used in food processing as soy protein ingredients and are made from soybean meal defatted and dehulled. Soy flour, soy protein isolates, and soy protein concentrate are three high-quality proteins frequently made from dehulled and defatted soybeans. The global soy protein ingredients market is expanding due to consumers switching from animal to plant-based proteins. The increasing popularity of vegan diets, the functional effectiveness, the cost-competitiveness of such plant protein products, and their expanding use in a variety of processed foods, particularly in the ready-to-eat product category, are the main factors driving the global market for soy protein ingredients. Suppliers of soy ingredients are still making significant adjustments to meet food manufacturers' functional and performance requirements. Soy ingredients offer benefits in terms of nutrition, functionality, cost, and position flexibility in organics, overall wellness, nutrient content, and health claims.
Consumers are looking for food and beverage products to help treat or prevent conditions as the trend of health management through food has grown. Due to the emphasis on weight management, most people are changing their eating habits. Gen Z, a sizable portion of the world's population, actively engages in health and wellness. Polls show that 26% of Gen X and 41% of Gen Z are willing to spend more money on healthier products. Products containing soy protein also benefit women of all ages and stages. Soy protein isolates are appropriate for athletes and bodybuilders because they are 90% concentrated vegetable protein. The market demand is driven by these health advantages and rising consumer demand from different demographics.
Consumers' consumption patterns have changed when considering dietary habits and lifestyle choices. Consumers want convenience foods with a high nutrient profile and positive health effects. The development of meat substitutes that meet the needs of vegan consumers or those who avoid consuming animal protein for health reasons has been facilitated by consumer-focused research. Companies aim their products at consumers by creating novel products with organoleptic qualities like real meat using modified food processing technologies. Soy, wheat, and pea protein blend make these meat substitutes to achieve the desired structure. New compositional research and a modified high-moisture extrusion procedure support developing the soy protein ingredients market.
Several uncontrollable factors, including seasonality, yield fluctuations, field losses, wastage, and contamination during storage, can affect the agricultural products used for protein extraction. This can impact the supply chain of soy protein ingredients and significantly increase soybean prices in the food and beverage industry. Due to these price fluctuations, the cost of soy protein ingredients in final products will likely rise. The producers' profitability and the export of their goods are impacted by the soybean market's price volatility, which can occasionally limit exports. The unsure halt and export ban impact prices and the global consumer market on commodities. As a result, soybeans' trend is erratic, restricting the market's expansion.
Consumer preferences are mainly shifting away from animal products due to people's growing concern for sustainability, personal health, and animal welfare. Consuming a lot of animal protein raises cholesterol, fat, and calorie levels, which increases the risk of obesity, diabetes, and heart disease. As a result, people are gravitating toward vegan sources of protein, which established a solid foundation for the expansion of the market for soy protein ingredients worldwide. Like egg protein, plant proteins from soy and pea can compete in the market for animal proteins. Due to their increased interest in vegan and flexitarian diet concepts, young consumers are looking for plant-based functional foods. The demand for soy products is rising globally due to recent improvements to soy proteins' texture, flavor, and nutritional value. This growing preference for plant-based diets indicates a huge market opportunity for products made from soy.
The global soy protein ingredients market share is segmented by type and application.
Based on type, the global soy protein ingredients market is bifurcated into soy isolates, soy concentrates and textured soy protein.
The soy concentrates segment is the highest contributor to the market and is expected to grow at a CAGR of 3.37% during the forecast period. Soy protein concentrates have a protein concentration of at least 70% on a dry-weight basis. Depending on the type of extraction used, soy concentrates can have a variety of solubility characteristics. For instance, the solubility of those produced using alcohol wash will be low and can be raised through additional processing. Most of the original soybean fiber is preserved in soy protein concentrate. It is frequently used in various food products as a nutritional or functional component, primarily in baked goods, breakfast cereals, and some meat products. In order to improve nutritional value and increase water and fat retention in meat and poultry products, soy protein concentrate is used (more protein, less fat). The two reasons for the demand for soybean protein concentrates are to increase the protein concentration and to enhance flavor.
A highly refined or purified form of soy protein called soy protein isolate has a minimum protein content of 90% on a moisture-free basis. Defatted soy flour, which has removed most of its nonprotein ingredients, fats, and carbohydrates, is used to make it. As a result, it has a bland flavor and will make you feel less queasy than soy flour. Due to its numerous health advantages, including being lactose-free and low in saturated fat and cholesterol, soy protein isolates demand is rising. They also include other necessary amino acids. These affordable soy protein supplements are sold as flavored or unflavored soy protein shake powder.
Based on application, the global market is bifurcated into bakery products and confectionery, meat extenders and substitutes, nutritional supplements, beverages, and animal feed and pet food.
The meat extenders and substitute segment owns the highest market share and is expected to grow at a CAGR of 3.29% during the forecast period. Consumers are switching from animal protein to plant-based products due to rising health consciousness. Soy protein continues to be consumers' preferred choice among all other plant-based proteins. In addition, more people are turning to vegan protein-based meat substitutes due to the rise in allergic reactions to animal proteins. This is driving the demand for soy-based meat extenders and substitutes. Defatted soy flour and soy protein concentrate are extruded at low moisture contents (20-35%), whereas meat analogs are made by extruding soy protein concentrate, soy protein isolate, legume proteins like common beans and peas, or wheat protein at high moisture contents (50-70%). Companies aim for the consumer with modified technologies by developing novel products with organoleptic characteristics like real meat.
Due to their fine particle size and dispersibility, soy isolates are the most preferred type of soy protein for dairy applications. Furthermore, soy protein has a low viscosity, making it appropriate for nutrient-rich liquid products. Soy proteins are a good source for specialized formulas in geriatric, hospital, and postoperative feeding because they offer complete nutrition, a targeted caloric content, and a balance between the calories contributed by proteins, fats, and carbohydrates. To improve sports drinks' nutritional value, particularly in terms of protein, soy protein ingredients are primarily used in those drinks. Archer Daniels Midland offers a heat-stable healthy beverage for different beverages, including sports nutrition drinks and fruit-flavored drinks.
By region, the global soy protein ingredients market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
North America is the most significant shareholder in the global soy protein ingredients market and is expected to grow at a CAGR of 2.24% during the forecast period. The shift in dietary needs and consumption patterns, as well as the preference for vegetarian protein sources, are the market drivers for soy protein ingredients in the US. Additionally, according to information provided by the Soy Nutrition Institute, the United States produces about one-third of the world's soybeans, closely followed by Brazil and Argentina. This broadens the potential for the nation to grow additional soy ingredients. The fact that soy protein lowers the risk of heart disease, as confirmed by the United States Department of Agriculture (USDA), has significantly boosted the market in the United States and raised demand for other vegan proteins. It expands the use of these ingredients in different bakery goods and dietary supplements. Consumption of meat has increased in the US due to soy protein ingredients giving consumers heart that is higher in protein. In the US, soy protein ingredients are frequently used as a meat substitute. As a result, the soy protein ingredient market is the largest in North America.
Asia-Pacific is expected to grow at a CAGR of 3.96%, generating USD 3,228.64 million during the forecast period. Plant protein ingredients like soy dominate the Indian market due to the country's large vegetarian population. One of the significant factors affecting the nation's need for soy protein ingredients is the rising awareness of vegan snacks and their high nutritional profile. Recent government initiatives, including FDI in retail and smart city initiatives, are anticipated to spur growth in the soy protein products market and consequently expand the soy protein ingredients market. Textured soy protein is utilized in Indian rice recipes as opposed to soy flour, which is used in bread and regional foods like sambar. Soy isolates are now being included in complex supplements by an increasing number of nutritional supplement producers due to the shifting consumer trend in India toward preventive healthcare, which further lowers healthcare costs. Soy protein-based supplements have seen a significant increase in product launches nationwide.
German customers are becoming increasingly interested in soy protein components because they are simple to add to various foods and beverages. Weight management, general health, and well-being are the main reasons for this increase in Europe. Veganism is also becoming popular in German cuisine. Germany hosted 15% of the global launches of new vegan food and beverage products between 2017 and 2018. Manufacturers of ingredients are increasing their production of plant-based ingredients nationwide due to the rising demand for plant-based food and beverage products there. ADM enlarged its Straubing, Germany, production facility for non-GMO high-protein soybean meal in 2017. It is anticipated that this expansion will make their portfolio of soybean meals easier to expand.
Brazil holds the largest market share for soy protein ingredients in South America, where food production and agriculture are two key economic drivers. Brazil's food and beverage industry has used the most soy protein ingredients. As a result, more domestic and international players are expanding their soy protein ingredient businesses nationwide. The demand for sports and nutrition products from athletes, bodybuilders, and recovering patients drives the Brazilian market. Protein is becoming more critical, and the weight management category is also expanding.
In the Middle East and Africa, the popularity of protein substitutes, such as soy protein ingredients, is greatly influenced by changing consumer lifestyles and rising healthcare costs. Additionally, the booming retail industry is fueling the demand for soy protein ingredients in the food and beverage industry by accelerating the growth of soy protein-based products like snack bars, drinks, and others on the market. Every consumer food category uses soy protein as a functional and nutritional ingredient. In some regions of the nation, soymilk in liquid and powdered forms has grown in popularity, and dry-textured soy protein is frequently used as a cheap meat substitute.
The global soy protein ingredients market major key players are
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