The soy protein ingredients industry is on a trajectory of significant expansion, with an estimated value projected to reach USD 10.8 billion by 2027 from the 2022 valuation of USD 7.7 billion, displaying a promising Compound Annual Growth Rate (CAGR) of 7.0%.
Soy protein ingredients are produced by processing soymeal to obtain ingredients with higher protein concentrations, which can be used as a protein source in a range of food and animal feed applications. The demand for soy protein is growing in the food and animal feed industries, owing to their health benefits and functional properties. It is also a cheaper substitute for animal protein.
The soy protein ingredients industry is influenced by several key trends, reflecting changes in consumer preferences, technological advancements, and industry regulations. Here are some of the key trends shaping this market:
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Rising demand for plant-based protein
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Growing health and wellness awareness
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Expansion of the Asia Pacific market
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Innovation in product development
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Focus on non-GMO and organic ingredients
These trends are expected to continue to drive growth in the soy protein ingredients market in the coming years.
Rising demand for plant-based protein: Consumers are increasingly seeking out plant-based alternatives to animal products for a variety of reasons, including health concerns, environmental considerations, and animal welfare. Soy protein is a versatile and affordable plant-based protein source that can be used in a wide range of food and beverage products.
Growing health and wellness awareness: Consumers are becoming more aware of the importance of protein for good health, and soy protein is a good source of essential amino acids. Soy protein has also been shown to have a number of health benefits, including reducing the risk of heart disease, stroke, and certain types of cancer.
Expansion of the Asia Pacific market: The Asia Pacific region is expected to be the fastest-growing market for soy protein ingredients in the coming years. This is due to a number of factors, including rising disposable incomes, growing urbanization, and increasing awareness of the health benefits of soy protein.
Innovation in product development: Food and beverage manufacturers are constantly innovating new products that use soy protein ingredients. This is leading to a wider range of products that are appealing to consumers, such as plant-based meat alternatives, dairy alternatives, and protein-fortified snacks.
Focus on non-GMO and organic ingredients: There is a growing demand for non-GMO and organic soy protein ingredients. This is due to consumer concerns about the safety of genetically modified organisms (GMOs) and the environmental impact of conventional agriculture.
Related Report:
Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, Textured Soy Protein, and Soy Flours), Application (Food and Feed), Form (Dry and Liquid), Nature, Function, and Region - Global Forecast to 2027
