HOME Top Market Reports Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, and Soy Flours), Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, Infant Foods, and Feed), and Region - Forecast to 2022

Soy Protein Ingredients Market by Type (Soy Protein Concentrates, Soy Protein Isolates, and Soy Flours), Application (Bakery & Confectionery, Meat Alternatives, Functional Foods, Dairy Replacements, Infant Foods, and Feed), and Region - Forecast to 2022

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: FB 2092

 

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The soy protein ingredients market was valued at USD 8.51 Billion in 2016 and is projected to reach around USD 12.84 Billion by 2022, at a CAGR of 7.2% from 2017 to 2022. The soy protein ingredients market has been segmented on the basis of type, application, and region.

The years considered for the study are as follows:

  • Base year – 2016
  • Estimated year –2017
  • Projected year - 2022
  • Forecast period – 2017 to 2022

The objectives of the study include:

  • To define, segment, and project the global market size for soy protein ingredients on the basis of type, application, and region
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To project the size of submarkets, in terms of value and volume, with respect to four regions (along with their respective key countries): North America, Europe, Asia-Pacific, and the Rest of the World (RoW).  

Research Methodology

This report includes an estimation of market size in terms of value (USD million). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the soy protein ingredients market and various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research such as Hoovers, Forbes, and Bloomberg Businessweek, company websites, annual reports, and their market share in respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

Soy Protein Ingredients Market

To know about the assumptions considered for the study, download the pdf brochure

The key players in the soy protein ingredients market include Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Cargill (U.S.), CHS Inc. (U.S.), Kerry Group plc (Ireland), Wilmar International Limited (Singapore), Nisshin OilliO Group, Ltd. (Japan), Ruchi Soya Industries Limited (India), Ag Processing Inc (U.S.), Devansoy (U.S.), The Scoular Company (U.S.), Biopress S.A.S. (France).

Target Audience:

  • Soy protein ingredient manufacturers
  • Technology providers to the soy protein ingredient manufacturers
  • Soy protein manufacturers/suppliers
  • Importers and exporters of soy protein ingredients
  • Dairy products manufacturers/suppliers
  • Raw material suppliers
  • Commercial research & development (R&D) institutions and financial institutions
  • Intermediary suppliers
  • Dealers
  • End users (soy protein manufacturers)

Scope of the report

This research report categorizes the soy protein ingredients market based on type, application, and region.

Based on Type, the market has been segmented as follows:

  • Soy protein concentrates
  • Soy protein isolates
  • Soy flours
  • Others (textured soy protein, soy grits, and hydrolyzed soy proteins)

Based on Application, the market has been segmented as follows:

  • Food;
  • Feed

Based on Region, the market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • RoW (Brazil, Argentina, South Africa, and Others in RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of Europe soy protein ingredients market into Sweden, Denmark, and Norway
  • Further breakdown of the Rest of Asia-Pacific market into South Korea, Indonesia, and Vietnam
  • Further breakdown of the RoW market into Africa and the Middle East

Company Information

  • Detailed analysis and profiling of additional market players (up to two)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Periodization Considered for the Study
    1.5 Currency Considered for the Study
    1.6 Unit Considered for the Study
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Opportunities in the Soy Protein Ingredients Market
    4.2 Soy Protein Ingredients Market, By Type
    4.3 Market, By Application
    4.4 Market, By Food Application & Region
    4.5 North America: Soy Protein Ingredients Market, By Application & Country
    4.6 Market, By Feed Application & Region

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Macroeconomic Indicators
           5.2.1 Rise in Food Demand From the Growing Population
           5.2.2 Increase in Global Feed Production
           5.2.3 Increased Soybean Production
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Cheaper Source of Protein
                    5.3.1.2 Preferred Alternative to Meat and Dairy Proteins
                    5.3.1.3 High Nutritive Value of Soy
           5.3.2 Restraints
                    5.3.2.1 Anti-Nutritional Components of Soy Protein
                    5.3.2.2 Ban on Soy Products of Gm Origin
           5.3.3 Opportunities
                    5.3.3.1 Demand for Organic Soy Protein
                    5.3.3.2 Growth in Demand in Other Applications
                    5.3.3.3 Demand for Plant-Based Protein as A Result of Growing Vegan Population
           5.3.4 Challenges
                    5.3.4.1 Unpleasant Flavor of Soy Products
    5.4 Regulatory Framework
    5.5 Value Chain Analysis

6 Soy Protein Ingredients Market, By Type (Page No. - 46)
    6.1 Introduction
    6.2 Soy Protein Isolates
    6.3 Soy Protein Concentrates
    6.4 Soy Flours
    6.5 Others

7 Soy Protein Ingredients Market, By Application (Page No. - 56)
    7.1 Introduction
    7.2 Food
           7.2.1 Bakery & Confectionery
           7.2.2 Meat Alternatives
           7.2.3 Functional Foods
           7.2.4 Dairy Replacements
           7.2.5 Infant Foods
           7.2.6 Other Food Applications
    7.3 Feed
           7.3.1 Livestock
                    7.3.1.1 Cattle
                    7.3.1.2 Swine
                    7.3.1.3 Poultry
           7.3.2 Pet Food
           7.3.3 Aquafeed

8 Soy Protein Ingredients Market, By Region (Page No. - 81)
    8.1 Introduction
    8.2 North America
           8.2.1 U.S.
           8.2.2 Canada
           8.2.3 Mexico
    8.3 Europe
           8.3.1 Germany
           8.3.2 France
           8.3.3 U.K.
           8.3.4 Italy
           8.3.5 Spain
           8.3.6 Rest of Europe
    8.4 Asia-Pacific
           8.4.1 China
           8.4.2 Japan
           8.4.3 India
           8.4.4 Rest of Asia-Pacific
    8.5 Rest of the World (RoW)
           8.5.1 Brazil
           8.5.2 Argentina
           8.5.3 South Africa
           8.5.4 Others in RoW

9 Competitive Landscape (Page No. - 125)
    9.1 Introduction
    9.2 Completive Leadership Mapping
           9.2.1 Visionary Leaders
           9.2.2 Innovators
           9.2.3 Dynamic Differentiators
           9.2.4 Emerging Companies
    9.3 Competitive Benchmarking
           9.3.1 Strength of Product Portfolio (For 25 Companies)
           9.3.2 Business Strategy Excellence (For 25 Companies)

*Top 25 companies analyzed for this study are – Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Cargill (U.S.), CHS Inc. (U.S.), Kerry Group plc (Ireland), Wilmar International Limited (Singapore), Nisshin OilliO Group, Ltd. (Japan), Ruchi Soya Industries Limited (India), Ag Processing Inc (U.S.), Devansoy (U.S.), Nordic Soya Oy (Finland), Jeecon Foods Private Limited (India), Sonic Biochem Limited (India), SunOpta Inc. (U.S.), The Scoular Company (U.S.), Agrawal Oil & Biocheam (India), Natural Products, Inc. (U.S.), Biopress S.A.S. (France), Shandong Yuwang Industrial Co., Ltd. (China), EURODUNA Rohstoffe GmbH (Germany), Crown Soya Protein Group (China), GuShen Group Co., LTD (China), Finnsoy Oy (Finland), Fuji Oil Co., Ltd. (Japan), Selecta (Brazil)

10 Company Profiles (Page No. - 130)
(Business Overview, Strength of Product Portfolio, Products Offered, Business Strategy Excellence & Recent Developments)*
     10.1 Archer Daniels Midland Company
     10.2 E. I. Du Pont De Nemours and Company
     10.3 Cargill
     10.4 CHS Inc.
     10.5 Kerry Group PLC
     10.6 Wilmar International Limited
     10.7 Nisshin Oillio Group, Ltd.
     10.8 Ruchi Soya Industries Limited
     10.9 AG Processing Inc
     10.10 Devansoy Inc.
     10.11 The Scoular Company
     10.12 Biopress S.A.S.

*Details on Business Overview, Strength of Product Portfolio, Products Offered, Business Strategy Excellence & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 161)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (133 Tables)

Table 1 Nutritional Composition of Soybean
Table 2 Characteristics of Soy Protein Ingredients in Application Segments
Table 3 Soy Protein Ingredients Market Size, By Type, 2015–2022 (USD Million)
Table 4 Market Size, By Type, 2015–2022 (KT)
Table 5 Soy Protein Isolates Market Size, By Region, 2015–2022 (USD Million)
Table 6 Soy Protein Isolates Market Size, By Region, 2015–2022 (KT)
Table 7 Soy Protein Concentrates Market Size, By Region, 2015–2022 (USD Million)
Table 8 Soy Protein Concentrates Market Size, By Region, 2015–2022 (KT)
Table 9 Soy Flours Used in Various Food Applications
Table 10 Soy Flours Market Size, By Region, 2015–2022 (USD Million)
Table 11 Soy Flours Market Size, By Region, 2015–2022 (KT)
Table 12 Other Soy Protein Ingredients Market Size, By Region, 2015–2022 (USD Million)
Table 13 Other Market Size, By Region, 2015–2022 (KT)
Table 14 Incorporation Level of Soy Protein Ingredients in Applications
Table 15 Soy Protein Ingredients Market Size, By Application, 2015–2022 (USD Million)
Table 16 Market Size, By Application, 2015–2022 (KT)
Table 17 Soy Protein Ingredients Market Size in Food, By Subapplication, 2015–2022 (USD Million)
Table 18 Market Size in Food, By Subapplication, 2015–2022 (KT)
Table 19 Market Size in Food, By Region, 2015–2022 (USD Million)
Table 20 Market Size in Food, By Region, 2015–2022 (KT)
Table 21 Market Size in Bakery & Confectionery, By Region, 2015–2022 (USD Million)
Table 22 Market Size in Bakery & Confectionery, By Region, 2015–2022 (KT)
Table 23 Soy Protein Ingredients Market Size in Bakery & Confectionery, By Type, 2015–2022 (USD Million)
Table 24 Market Size in Bakery & Confectionery, By Type, 2015–2022 (KT)
Table 25 Application of Soy Protein Ingredients in Processed Muscle Foods
Table 26 Soy Protein Ingredients Market Size in Meat Alternatives, By Region, 2015–2022 (USD Million)
Table 27 Market Size in Meat Alternatives, By Region, 2015–2022 (KT)
Table 28 Market Size in Meat Alternatives, By Type, 2015–2022 (USD Million)
Table 29 Market Size in Meat Alternatives, By Type, 2015–2022 (KT)
Table 30 Soy Protein Ingredients Market Size in Functional Foods, By Region, 2015–2022 (USD Million)
Table 31 Market Size in Functional Foods, By Region, 2015–2022 (KT)
Table 32 Market Size in Functional Foods, By Type, 2015–2022 (USD Million)
Table 33 Market Size in Functional Foods, By Type, 2015–2022 (KT)
Table 34 Soy Protein Ingredients Market Size in Dairy Replacements, By Region, 2015–2022 (USD Million)
Table 35 Market Size in Dairy Replacements, By Region, 2015–2022 (KT)
Table 36 Market Size in Dairy Replacements, By Type, 2015–2022 (USD Million)
Table 37 Market Size in Dairy Replacements, By Type, 2015–2022 (KT)
Table 38 Soy Protein Ingredients Market Size in Infant Food, By Region, 2015–2022 (USD Million)
Table 39 Market Size in Infant Food, By Region, 2015–2022 (KT)
Table 40 Market Size in Infant Food, By Type, 2015–2022 (USD Million)
Table 41 Market Size in Infant Foods, By Type, 2015–2022 (KT)
Table 42 Soy Protein Ingredients Market Size in Other Food Applications, By Region, 2015–2022 (USD Million)
Table 43 Market Size in Other Food Applications, By Region, 2015–2022 (KT)
Table 44 Market Size in Other Food Applications, By Type, 2015–2022 (USD Million)
Table 45 Market Size in Other Food Applications, By Type, 2015–2022 (KT)
Table 46 Soy Protein Ingredients Market Size in Feed, By Subapplication, 2015–2022 (USD Million)
Table 47 Market Size in Feed, By Subapplication, 2015–2022 (KT)
Table 48 Soy Protein Ingredients Market Size in Feed, By Region, 2015–2022 (USD Million)
Table 49 Market Size in Feed, By Region, 2015–2022 (KT)
Table 50 Market Size in Feed, By Type, 2015–2022 (USD Million)
Table 51 Market Size in Feed, By Type, 2015–2022 (KT)
Table 52 Soy Protein Ingredients Market Size in Livestock Feed, By Region, 2015–2022 (USD Million)
Table 53 Market Size in Livestock Feed, By Region, 2015–2022 (KT)
Table 54 Soy Protein Ingredients Market Size in Pet Food, By Region, 2015–2022 (USD Million)
Table 55 Market Size in Pet Food, By Region, 2015–2022 (KT)
Table 56 Soy Protein Ingredients Market Size in Aquafeed, By Region, 2015–2022 (USD Million)
Table 57 Market Size in Aquafeed, By Region, 2015–2022 (KT)
Table 58 Soy Protein Ingredients Market Size, By Region, 2015–2022 (USD Million)
Table 59 Market Size, By Region, 2015–2022 (KT)
Table 60 North America: Soy Protein Ingredients Market Size, By Country, 2015–2022 (USD Million)
Table 61 North America: Market Size, By Country, 2015–2022 (KT)
Table 62 North America: Market Size, By Type, 2015–2022 (USD Million)
Table 63 North America: Market Size, By Type, 2015–2022 (KT)
Table 64 North America: Market Size, By Application, 2015–2022 (USD Million)
Table 65 North America: Market Size, By Application, 2015–2022 (KT)
Table 66 North America: Market Size in Food, By Subapplication, 2017–2022 (USD Million)
Table 67 North America: Market Size in Food, By Subapplication, 2015–2022 (KT)
Table 68 North America: Market Size in Feed, By Subapplication, 2015–2022 (USD Million)
Table 69 North America: Market Size in Feed, By Subapplication, 2015–2022 (KT)
Table 70 U.S.: Soy Protein Ingredients Market Size, By Type, 2015–2022 (USD Million)
Table 71 U.S.: Market Size, By Type, 2015–2022 (KT)
Table 72 Canada: Soy Protein Ingredients Market Size, By Type, 2015–2022 (USD Million)
Table 73 Canada: Market Size, By Type, 2015–2022 (KT)
Table 74 Mexico: Market Size, By Type, 2015–2022 (USD Million)
Table 75 Mexico: Market Size, By Type, 2015–2022 (KT)
Table 76 Europe: Soy Protein Ingredients Market Size, By Country, 2015–2022 (USD Million)
Table 77 Europe: Market Size, By Country, 2015–2022 (KT)
Table 78 Europe: Market Size, By Type, 2015–2022 (USD Million)
Table 79 Europe: Market Size, By Type, 2015–2022 (KT)
Table 80 Europe: Market Size, By Application, 2015–2022 (USD Million)
Table 81 Europe: Market Size, By Application, 2015–2022 (KT)
Table 82 Europe: Market Size in Food, By Subapplication, 2015–2022 (USD Million)
Table 83 Europe: Market Size in Feed, By Subapplication, 2015–2022 (KT)
Table 84 Europe: Market Size in Feed, By Subapplication, 2015–2022 (USD Million)
Table 85 Europe: Market Size in Feed, By Subapplication, 2015–2022 (KT)
Table 86 Germany: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 87 Germany: Market Size, By Type, 2015–2022 (KT)
Table 88 France: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 89 France: Market Size, By Type, 2015–2022 (KT)
Table 90 U.K.: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 91 U.K.: Market Size, By Type, 2015–2022 (KT)
Table 92 Italy: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 93 Italy: Market Size, By Type, 2015–2022 (KT)
Table 94 Spain: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 95 Spain: Market Size, By Type, 2015–2022 (KT)
Table 96 Rest of Europe: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 97 Rest of Europe: Market Size, By Type, 2015–2022 (KT)
Table 98 Asia-Pacific: Soy Protein Ingredients Market Size, By Country, 2015–2022 (USD Million)
Table 99 Asia-Pacific: Market Size, By Country, 2015–2022 (KT)
Table 100 Asia-Pacific: Market Size, By Type, 2015–2022 (USD Million)
Table 101 Asia-Pacific: Market Size, By Type, 2015–2022 (KT)
Table 102 Asia-Pacific: Market Size, By Application, 2015–2022 (USD Million)
Table 103 Asia-Pacific: Market Size, By Application, 2015–2022 (KT)
Table 104 Asia-Pacific: Market Size in Food, By Subapplication, 2015–2022 (USD Million)
Table 105 Asia-Pacific: Market Size in Food, By Subapplication, 2015–2022 (KT)
Table 106 Asia-Pacific: Market Size in Feed, By Subapplication, 2015–2022 (USD Million)
Table 107 Asia-Pacific: Market Size in Feed, By Subapplication, 2015–2022 (KT)
Table 108 China: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 109 China: Market Size, By Type, 2015–2022 (KT)
Table 110 Japan: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 111 Japan: Market Size, By Type, 2015–2022 (KT)
Table 112 India: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 113 India: Market Size, By Type, 2015–2022 (KT)
Table 114 Rest of Asia-Pacific: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 115 Rest of Asia-Pacific: Market Size, By Type, 2015–2022 (KT)
Table 116 RoW: Soy Protein Ingredient Market Size, By Country, 2015–2022 (USD Million)
Table 117 RoW: Market Size, By Country, 2015–2022 (KT)
Table 118 RoW: Market Size, By Type, 2015–2022 (USD Million)
Table 119 RoW: Market Size, By Type, 2015–2022 (KT)
Table 120 RoW: Market Size, By Application, 2015–2022 (USD Million)
Table 121 RoW: Market Size, By Application, 2015–2022 (KT)
Table 122 RoW: Market Size in Food, By Subapplication, 2015–2022 (USD Million)
Table 123 RoW: Market Size in Food, By Subapplication, 2015–2022 (KT)
Table 124 RoW: Market Size in Feed, By Subapplication, 2015–2022 (USD Million)
Table 125 RoW: Market Size, By Feed Application, 2015–2022 (KT)
Table 126 Brazil: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 127 Brazil: Market Size, By Type, 2015–2022 (KT)
Table 128 Argentina: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 129 Argentina: Market Size, By Type, 2015–2022 (KT)
Table 130 South Africa: Soy Protein Ingredient Market Size, By Type, 2015–2022 (USD Million)
Table 131 South Africa: dients Market Size, By Type, 2015–2022 (KT)
Table 132 Others in RoW: Soy Protein Ingredients Market Size, By Type, 2015–2022 (USD Million)
Table 133 Others in RoW: Market Size, By Type, 2015–2022 (KT)


List of Figures (37 Figures)

Figure 1 Soy Protein Ingredients: Market Segmentation
Figure 2 Soy Protein Ingredients Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown & Data Triangulation
Figure 6 Soy Protein Ingredients Market Size, By Type, 2017–2022 (USD Billion)
Figure 7 Market Size, By Application, 2017 vs 2022 (USD Billion)
Figure 8 Soy Protein Ingredients Market Size in Food & Feed, By Subapplication, 2017 (USD Billion)
Figure 9 Market Share, By Region, 2016
Figure 10 Rise in Demand for Soy Protein Ingredients as A Cheaper Protein Source to Drive the Market
Figure 11 Soy Protein Concentrates Segment Estimated to Lead the Market During the Review Period
Figure 12 Food Application of Soy Protein Ingredients Accounted for the Largest Share in 2016
Figure 13 Meat Alternatives Segment Recorded the Largest Share in 2016 (USD Billion)
Figure 14 Food Segment Accounted for the Larger Share in North America, 2016
Figure 15 Livestock Feed Was the Largest Segment Across All Regions in 2016
Figure 16 Global Population Projected to Reach ~9.5 Billion By 2050
Figure 17 Global Feed Production, 2012–2016 (Million Tons)
Figure 18 Soybean Production, 2010–2014 (Million Tons)
Figure 19 Soy Protein Ingredients: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Value Chain Analysis: Major Value Added During Sourcing & Production Phase
Figure 21 Soy Protein Ingredients Market Size, By Type, 2017 vs 2022 (USD Million)
Figure 22 Soy Protein Ingredients Market Size, By Application, 2017 vs 2022 (USD Million)
Figure 23 Geographic Snapshot: China to Be the Fastest-Growing Market During the Forecast Period
Figure 24 North American Soy Protein Ingredient Market Snapshot
Figure 25 European Soy Protein Ingredient Market Snapshot
Figure 26 Asia Pacific Protein Ingredients Market Snapshot
Figure 27 Ranking Analysis of Key Players
Figure 28 Soy Protein Ingredients (Global): Competitive Leadership Mapping, 2017
Figure 29 Archer Daniels Midland Company: Company Snapshot
Figure 30 E. I. Du Pont De Nemours and Company: Company Snapshot
Figure 31 Cargill: Company Snapshot
Figure 32 CHS Inc.: Company Snapshot
Figure 33 Kerry Group PLC: Company Snapshot
Figure 34 Wilmar International Limited: Company Snapshot
Figure 35 Nisshin Oillio Group, Ltd.: Company Snapshot
Figure 36 Ruchi Soya Industries Limited: Company Snapshot
Figure 37 AG Processing Inc: Company Snapshot

The global soy protein ingredients market witnessed steady growth over the last few years. The market size is projected to reach USD 12.84 Billion by 2022, at a CAGR of around 7.2% from 2017. Preference for meat and dairy alternatives, and the high nutritive value of soy has been a major driver that has contributed to the growth of the market.

The soy protein ingredients market, by type, is segmented into soy protein concentrates, soy protein isolates, soy flours, and others (textured soy protein, soy grits, and hydrolyzed soy proteins). Soy protein concentrates are the most widely used ingredient in the food and feed industry. It is cheaper than other types of soy protein ingredients, such as soy protein isolates, which has served as one of the major factors driving the market.

On the basis of application, the soy protein ingredients market is segmented into food and feed. The further segmentation of food includes meat alternatives, functional foods, dairy replacements, bakery & confectionery, infant foods, and others, and the further segmentation of feed include livestock feed, pet food, and aquafeed. The food segment, on the whole, accounted for a larger market share in 2016.

Soy protein ingredients have been of immense importance in the food processing industry. Their use in food applications such as meat processing, functional foods, and dairy replacements are driving the market to register a double-digit growth rate. In the food segment, the meat alternatives subsegment accounted for the largest share in 2016. Soy protein ingredients provide effective protein augmentation to meat products, which is one of the leading factors to drive the soy protein ingredients market in the food industry.

Soy Protein Ingredients Market

The soy protein ingredients market in North America was the largest in 2016, the Asia-Pacific market is however, projected to grow at the highest CAGR during the forecast period. The high consumption of soy-based products in this region is one of the major factors leading to the growth of the soy protein ingredients market here.

Some anti-nutritional components of soy protein and the ban on soy products of GM origin are the major factors restraining the growth of the market. For instance, some anti-nutritional components in soy are broken down only during heat treatment and fermentation, but are retained during regular cooking. These components have been known to cause health issues such as allergic reactions.

Additionally, genetically modified crops are prohibited in developed regions such as Europe, where several countries as part of the European Union have banned their farmers from cultivating genetically modified crops. Scientists have cited health and environmental risks associated with genetically modified (GM) soybean. As a result, certain food manufacturers in the U.S., Canada, European countries, and Japan are demanding non-genetically modified soybean.

The soy protein ingredients market is characterized by medium to high competition due to the presence of a number of large- and small-scale firms with low product differentiation. New product launches, partnerships, and expansions are the key strategies adopted by these players to ensure their growth in the market. Players such as Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Cargill (U.S.), CHS Inc. (U.S.), Kerry Group plc (Ireland), Wilmar International Limited (Singapore), Nisshin OilliO Group, Ltd. (Japan), Ruchi Soya Industries Limited (India), Ag Processing Inc (U.S.), Devansoy (U.S.), The Scoular Company (U.S.), and Biopress S.A.S. (France) dominate this market.

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