February 9, 2025
Soy Protein Market

Soy Protein Market Is Estimated To Witness High Growth Owing To Rise In Consumer

The Soy Protein Market is estimated to be valued at US$ 7.51 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: –

Soy protein products are obtained from soybean which is a legume native to East Asia. These products have high protein content and are very useful in various food applications such as bakery, meat alternatives, beverages etc. due to their versatility and nutritious value. Soy protein acts as a substitute for animal protein and provides essential amino acids which helps in maintaining muscles and other body functions.

Market key trends: –

Rise in consumer preference for plant-based proteins owing to health and environmental benefits is a major trend propelling the growth of soy protein market. People are shifting towards vegan and flexitarian diets thereby increasing the demand for meat substitutes made using soy protein. According to research, soy protein helps in reducing cholesterol levels and preventing chronic diseases when consumed instead of animal protein. Furthermore, COVID-19 pandemic has led to increased health consciousness among individuals which has accelerated the demand for nutritious and immunity boosting soy products.

Porter’s Analysis: –

  • Threat of new entrants: – The Soy Protein Market has moderate threat of new entrants due to high capital requirement for infrastructure, R&D and processing plants. There exist economies of scale in production.
  • Bargaining power of buyers: – The soy protein market has moderate bargaining power of buyers due to presence of a large number of buyers globally and easy availability of substitutes.
  • Bargaining power of suppliers: – The Bargaining power of suppliers is moderate as it depends largely on crops yield and price fluctuations.
  • Threat of new substitutes: – Moderate threat due to availability of whey protein and pea protein as substitutes.
  • Competitive rivalry: – Intense due to presence of many established brands.

SWOT Analysis: –

  • Strength: – Wide applications in nutrition supplements, meat alternatives, dairy alternatives. Growing vegan & flexitarian trends drive demand.
  • Weakness: – Soy allergies reduce potential consumer base. Fluctuations in crop yield affect prices.
  • Opportunity: – Increasing health awareness boosts demand for plant-based proteins. Rapid urbanization increases packaged food consumption.
  • Threats: – Competition from alternative proteins. Stringent regulations around genetically modified crops.

Key Takeaways: –

The Global Soy Protein Market Growth is expected to witness high at a CAGR of 7.3% over the forecast period due to increasing health awareness regarding benefits of plant-based proteins.

Regional analysis: – North America dominates the global soy protein market currently. However, Asia Pacific is expected to be the fastest growing market due to robust demand from countries like China, India and other Southeast Asian countries.

Key players: – Key players operating in the soy protein market are Archer Daniels Midland Company, Cargill Inc., DowDuPont Inc., Imcopa Food Ingredients B.V., CHS Inc., Crown Soya Protein Group, Wilmer International Ltd., Foodchem, Kerry Ingredients Inc., Burcon NutraScience Corporation, and others. The players are focused on new product launches and capacity expansions to strengthen their presence in the emerging high-growth markets.

*Note:
1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

Ravina Pandya

Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

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