The market for soy protein isolate was predicted to reach US$ 2,987 million in 2022. The market is anticipated to reach US$ 4,152.2 million, growing at a CAGR of 3% from 2023 to 2033 due to shifting customer preferences toward natural food proteins.
Animal welfare is one of the key elements determining consumer preference for soy protein isolate. The demand for plant-based alternatives like soy protein isolate has surged as more people contract food allergies and intolerance. The growing customer knowledge of this product’s benefits and the market’s expansion are both due to the usage of soy protein isolate, which offers several advantages.
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Soy isolates are becoming more prevalent in baby food. Soy protein isolate has substantial market potential in infant foods due to an increase in demand for it across newborn feeds, prepared meals, and packaged foods. The rise in demand for practical and economical meat alternatives among infants is a significant element boosting soy protein isolate demand globally.
Major market participants are marketing soy products with organic labeling since these commodities are derived from raw materials like peas, wheat, and soy that are produced using organic farming methods. The demand for organic soy protein isolates is also expected to increase as more consumers become aware of the numerous health advantages of consuming organic goods. This is predicted to offer profitable prospects for the expansion of the worldwide market throughout the forecast period.
Key Takeaways from the Market Study
- Global soy protein isolate market is expected to be valued at US$ 3106 million by 2023
- From 2018 to 2022, the market demand expanded at a CAGR of 2.7%
- From 2023 to 2033, the United States market for soy protein isolate is projected to account for a 25.7% market share.
- China to experience a 3.4% CAGR and India a 4.1% CAGR from 2023 to 2033
- By nature, the conventional segment was estimated to acquire a 78% share in 2022.
- By end use, the meat alternative segment acquired 25% market share in 2022.
“Soy-based diets are becoming more popular as customers believe that soy isolate protein products offer therapeutic advantages such as healing disorders, boosting immunity, and lowering the risk of heart attack, diabetes, and various other diseases.” remarks an FMI analyst.
Competitive Landscape
Prominent players in the soy protein isolate market are:
- Archer Daniels Midland
- Cargill Inc
- Fuji Oil Holdings Inc.
- Farbest
- Batory Food
- CHS Inc.
- Crown Soya Protein Group E.I.
- The Scoular Company
- Food Chem International
- Fuji Oil Holdings Inc.
- Nutra Food Ingredients LLC
- Osage Food Products
- Dupont De Numerous Company
Some key developments of the leading companies in this market are:
- Archer Daniels Midland (ADM) opened a new extrusion factory in Serbia in 2022. This plant will increase the production of non-GMO granular soy protein. Their new extrusion factory not only boosts the region’s supply of locally produced, non-GMO textured soy protein, which is in high demand in Europe, but it also keeps up with the category’s phenomenal growth in the EMEA region.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global soy protein isolate market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the soy protein isolate market, the market is segmented on the basis of soy protein isolate by nature (organic and conventional), by form (dry and liquid), by end-use (meat alternatives, bakery, and confectionery, functional foods), by function (nutrients, emulsifier, fat & water absorption, restaurants, other functions) and across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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