According to a new report published by Allied Market Research, titled, “Soy protein ingredients Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The soy protein ingredients market was valued at $9,594.0 million in 2020, and is projected to reach at $15,303.9 million by 2030, registering a CAGR of 4.4% from 2021 to 2030. The soy protein concentrate segment accounted for more than 50% of the total market share in 2020. Soy proteins are derived from soybean meal, which is defatted and dehulled. Defatted & dehulled soybeans are processed into three types of high-protein commercial products, including soy protein concentrates, soy protein isolates, and soy flours.

The players operating in the global soy protein ingredients market have adopted various developmental strategies to increase their market share, gain profitability, and remain competitive in the market. The key players operating in the soy protein ingredients market include AG Processing Inc., Archer-Daniels-Midland Company, Cargill, Inc., CHS Inc., Doves Farm Foods Ltd., E. I. Du Pont De Nemours and Company (Dupont Nutrition and Health), Kerry Group, Plc., Kraft Heinz Company, the Kellogg Company, and Wilmar International Limited.

However, availability of alternatives such as whey protein ingredients and increase in inclination of consumers toward high-quality animal protein are some factors anticipated to hamper the market growth.

On the contrary, rise in requirement of dietary supplements and animal feed (rich in plant-based protein) is expected to offer potential growth opportunities for the global soy protein ingredients market.

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The oldest segment of the population consumes most of the food supplements, including protein, vitamins, calcium, and other supplements to delay aging disorders and effects.

Moreover, with time, the rate of development of red blood cells in the body decreases that increases the susceptibility to many diseases, which is the factor responsible for surge in demand for protein ingredients. In animal feed, the requirement for protein is basic and does not rely over any age group, however, the awareness regarding its requirement in animals and the effects due to its deficiency is still less and rising. The deficiency among animals may reduce appetite in young animals, lower feed intake, and delay muscle development, thus taking prolonged time to reach maturity. In mature animals, weight loss and decreased milk production have been observed. Therefore, rise in demand for animal feed rich in plant proteins drives the growth of the market for soy protein ingredients.

Key Findings Of The Study

By type, the soy protein concentrate segment dominated the market in 2020, and is expected to gain maximum market share in the coming years.
On the basis of application, the infant food segment is anticipated to grow with a moderate CAGR during the forecast period.
Region wise, North America led in terms of market share in 2020, and is expected to retain its dominance during the forecast period.
The report focuses on the soy protein ingredients market growth prospects, restraints, and opportunities of the global Soy protein ingredients market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the soy protein ingredients market.