The global Soy Protein Isolate market stood at approximately 4.2 million tonnes in 2023 and is anticipated to swell at a healthy CAGR of 4.45% during the forecast period until 2034.
Soy protein isolate (SPI) finds extensive industrial applications across various sectors. In the food industry, SPI serves as a valuable ingredient due to its functional properties, including emulsification, gelation, and water-binding capabilities. It is commonly used as a meat extender in processed meats, such as sausages and burgers, to improve texture and moisture retention while reducing costs. Additionally, SPI is utilized as a texturizer and stabilizer in dairy alternatives like soy milk and yogurt. Soy protein isolate enhances the nutritional value by the means of protein fortification. In the beverage industry, SPI functions as a foaming agent in carbonated drinks and a thickening agent in fruit juices and sports drinks. Beyond food, SPI is employed in the pharmaceutical and cosmetic industries for its protein content and emulsifying properties. It serves as a binder in tablet formulations and as a moisturizing agent in skincare products. Furthermore, SPI is utilized in animal feed formulations to enhance the protein content and nutritional value of feed pellets. Overall, the diverse industrial uses of SPI underscore its versatility and importance across multiple sectors.
Growing consumer awareness of health and immunity is driving the integration of nutritional values into food products, leading to an uptick in product launches within the food sector. Moreover, the escalating concerns over health issues linked to obesity have spurred international organizations and governments to advocate for the consumption and production of soy protein isolates, thereby fueling market expansion. Additionally, the increasing adoption of vegetarianism, driven by concerns for animal welfare and environmental sustainability, is boosting demand for soy protein isolate. This shift is reinforced by the growing prevalence of food allergies and intolerances, prompting consumers to opt for plant-based alternatives like soy protein isolate. Furthermore, the surge in demand for organic products, driven by heightened consumer consciousness regarding the harmful effects of conventional farming practices, is contributing to market growth, as organic soy protein isolates offer benefits such as absence of harmful chemicals and genetically modified ingredients. The global Soy Protein Isolate market is likely to reach approximately 6.5 million tonnes in 2034.
North America and Europe currently hold dominant positions in the soy protein isolate market. These regions boast significant market shares due to several factors. Firstly, both North America and Europe have well-established food industries with high demand for protein-rich ingredients like soy protein isolate. Additionally, consumer awareness of health and wellness is robust in these regions, driving the demand for plant-based protein sources as alternatives to animal-derived proteins. Furthermore, the presence of key market players and extensive research and development activities contribute to the growth of the soy protein isolate market in North America and Europe. Moreover, stringent regulations and standards regarding food safety and labelling in these regions ensure the quality and reliability of soy protein isolate products, further consolidating their dominance. Despite the dominance of North America and Europe, emerging markets in Asia-Pacific and Latin America are showing promising growth potential, driven by increasing consumer awareness and growing adoption of healthier dietary habits.
Based on the end-use industry, the global Soy Protein Isolate market is divided into Food & Beverages, Animal Feed, and Others. However, Food & Beverages is the dominating segment and held about 75% of the global Soy Protein Isolate market in 2023 and is likely maintain its position in the foreacts period as well.
Major players in the Global Soy Protein Isolate market are Archer Daniels Midland Company, Foodchem International Corporation, Chaitanya Agro Biotech Pvt. Ltd., Nature Republic Inc., The Scoular Company, REJOICE LIFE INGREDIENTS, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Soy Protein Isolate which covers production, demand and supply of Soy Protein Isolate market in the globe.
• To analyse and forecast the market size of Soy Protein Isolate
• To classify and forecast Global Soy Protein Isolate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Soy Protein Isolate market in the globe.
To extract data for Global Soy Protein Isolate market, primary research surveys were conducted with Soy Protein Isolate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Soy Protein Isolate market over the coming years.
ChemAnalyst calculated Soy Protein Isolate demand across the globe by analyzing the volume of Soy Protein Isolate consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Soy Protein Isolate manufacturers and other stakeholders
• Organizations, forums and alliances related to Soy Protein Isolate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Soy Protein Isolate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Soy Protein Isolate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
4.2 million tonnes
Market size Volume in 2034
6.4 million tonnes
Growth Rate
CAGR of 4.45% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Food & Beverages, Animal Feed, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Soy Protein Isolate in terms of volume in 2023?
Ans:
The global market size of Soy Protein Isolate has reached approximately 4.2 million tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Soy Protein Isolate?
Ans:
Food & Beverages industry is the leading end-user industry of Soy Protein Isolate globally.
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