Soy Protein Ingredients Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Soy Protein Ingredients Market covers analysis By Product Type (Soy Protein Isolate, Soy Protein Concentrates, Soy Flours, and Others), Application (Bakery & Confectionary, Meat Alternatives, Animal Nutrition, Infant Nutrition, and Others)

Publication Month : Mar 2024

  • Report Code : TIPRE00003895
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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Analyst Perspective 

The global soy protein Ingredients market is estimated to register a CAGR of 7.8%. The soy protein ingredients market is experiencing growth due to an increase in awareness regarding plant-based protein sources. Nowadays, consumers are focusing more on health and wellness, which is driving the adoption of soy protein. The rising number of people adopting vegan and vegetarian lifestyles is a prominent factor contributing to the growth of the soy protein ingredients market. Allergy concerns and the existence of alternative plant-based proteins are challenging factors for the growth of the soy protein market.  

Market Overview

Soy protein has a high amount of protein, amino acids, and calcium required for the body. Soy protein ingredients are processed ingredients produced from wholly defatted soy meal through a water extraction. Soy is a nutrition-dense protein that can be eaten as an alternative to meat. Soy protein ingredients are used in various products, including snacks, meat alternatives, and dairy products. It is frequently used as a substitute for animal-based proteins in the food & beverage industry. Rising disposable incomes, particularly in developing countries, allow more people to afford soy-based protein ingredients. Hence, the demand for soy protein ingredients has been expanding rapidly in recent years.

Market Drivers

  • Increasing preference for soy-based protein over meat-based protein

Soy is a complete source of protein that can be consumed as a meat substitute as it has all essential amino acids. Consuming soy protein instead of meat protein helps reduce the risk of cardiovascular diseases and also helps in reducing bad cholesterol in the body.

  • People are moving towards vegan and vegetarian options

A well-balanced vegan and vegetarian diet provides health benefits such as reduced risk of chronic diseases, weight management, bone health, and others; most people are adopting vegan or vegetarian diets because they are better for the environment. 

  • Versatile applications in food & beverages

Soy protein ingredients are versatile and can be used in various applications, including meat alternatives, baked goods, dairy alternatives, sports nutrition products, and baby food.

Market Segmentation

The global soy protein Ingredients market is segmented based on product type and application. The global soy protein Ingredients market is segmented based on product type: soy protein isolate, soy protein concentrates, soy floors, and others. The soy protein Ingredients market is segmented based on application into bakery & confectionary, meat alternatives, animal nutrition, infant nutrition, and others.

Regional Analysis

The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives information on an overview and forecast of the global soy protein Ingredients market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The soy protein ingredients market by region is also sub-segmented by respective countries and segments. The soy protein ingredients market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.

The report analyses factors affecting the soy protein ingredients market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting these regions' soy protein ingredients market.

Key Players

The reports cover vital organic and inorganic growth strategy developments in the soy protein ingredients market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, etc. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations, which have paved the way for the development of the business and customer base of market players. The Soy Protein Ingredients market players anticipate lucrative growth opportunities with the rising demand for plant-based protein in the global market.

The report includes key companies' profiles, SWOT analysis, and Soy Protein Ingredients market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.

Below is a list of companies engaged in the soy protein ingredients market.

  • ADM
  • BRF SA
  • Cargill Incorporated
  • Wilmar International Ltd
  • CHS Inc
  • Malindra group
  • Devansoy
  • Crown Soya Protein Group Company
  • Farbest Brands
  • International Flavors and Fragrances Inc
REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Archer Daniels Midland Company
2. Cargill, Incorporated
3. CHS Inc.
4. Dean Foods
5. E. I. du Pont de Nemours and Company
6. KELLOGG CO.
7. Kerry Inc
8. Manildra Group
9. MGP Ingredients, Inc.
10. Wilmar International Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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