The Soy Protein Ingredient market is valued at USD 10.2 Bn in 2022 and is projected to grow at a CAGR of 4.5% during the forecast period, to reach a value of USD 15.9 Bn by 2032. Newly released data from Future Market Insights market analysis shows that global Soy Protein Ingredient demand is projected to grow year-on-year (Y-o-Y) growth of 3.7% in 2022.
The global soy protein industry is expanding as a result of consumers switching from animal to plant-based proteins. Organic food ingredients used in food processing include soy protein, they are made from soybean meal that has been hulled and defatted. Defatted and dehulled soybean is frequently processed into soy flours, soy protein isolates, and soy protein concentrates, three types of high-grade proteins.
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Due to its organic makeup, soy protein ingredients frequently replace animal protein in food products sold around the world. Minerals like fiber, calcium, iron, potassium, magnesium and vitamin B are all abundant in soy proteins, Protein content is also high in soy proteins. As a result, they can offer all the essential amino acids required for the body’s growth and development.
Additionally, due to increased awareness of the negative effects of consuming animal protein, consumers are likewise increasing their consumption of plant-based products. Adults typically find animal protein to be less healthy, which has caused consumers to turn to plant-based foods.
The market grew with a CAGR of 4.1% between 2017-21 as no age group is excluded from the health advantages of soy protein ingestion. Comparing soy protein to animal proteins reveals that it is both inexpensive and secure. Another benefit for the global soy protein ingredients market is the longest shelf life of products made of plant matter. Contrary to animal-based products, which frequently degrade if improperly stored or not used within a certain time frame, plant-based ingredients rarely deteriorate.
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Soy Protein Ingredient Applications in the Pharmaceuticals and Healthcare Industry
Ingredients derived from soy protein are thought to be beneficial for those with obesity-related illnesses such as inflammation and fatty liver disease. The market is expected to experience a significant increase due to the rising incidence of obesity and the link between fatty liver disease and certain life-threatening illnesses like cardiovascular disease. Consumer interest in plant-based proteins and the growing trend toward healthier meals will keep opening up new business options.
Over the past few years, there has been a significant shift toward vegetarianism, which has boosted the demand for soy protein ingredients. Regarding animal welfare, consumers are getting increasingly concerned. The setting and circumstances in which people are born and raised are becoming more and more conscious. One of the main factors influencing consumer preference for plant-based goods like soy protein components is a concern for animal welfare. Additionally, many consumers are experiencing allergies and dietary intolerances, which has increased the demand for plant-based substitutes like soy protein ingredients.
Country-wise Insights
How large is the Opportunity for Soy Protein Ingredient Market in the United States?
North America is expected to continue to be one of the most lucrative markets during the forecast period, according to FMI. One of the major drivers of growth in the area is the high level of purchasing power.
Additionally, the U.S. is one of the largest marketplaces in the world, which makes it a valuable market for soy protein Ingredient manufacturers. The United States will control 88.8% of the North American market in 2022, according to the FMI.
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Besides high spending power, awareness regarding the prevalence of chronic ailments has been pushing U.S. consumers towards a healthy lifestyle. This is expected to present lucrative opportunities for soy protein ingredient sales in the country.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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