Soy Protein Market Outlook
According to the report by Expert Market Research (EMR), the global soy protein market size is projected to grow at a CAGR of 7.0% between 2023 and 2028. Aided by the rising demand for protein-dense food items and the growing applications of soy protein in various sectors, the market is expected to grow significantly by 2028.
Soy protein, a protein derived from soybeans, is widely utilised as a food ingredient in a variety of goods, including dairy substitutes for meat, meat substitutes for eggs, infant formula, bakery goods, and dietary supplements. It is important for overall health, muscle growth, and tissue healing. Soy protein is a popular component in a variety of commercial applications, including food and drinks, animal feed, and cosmetics, due to its superior emulsifying, stabilising, and texturising qualities.
The growing consumer inclination for protein-rich food products is stimulating the global soy protein market growth. There has been a significant shift towards high-protein diets as a result of growing awareness of the health advantages of protein consumption, which has led to an increase in demand for goods containing soy protein. Furthermore, the growing popularity of health and wellness has increased the demand for soy protein, which is a crucial component of the protein supplements that athletes and fitness enthusiasts use.
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The wide-ranging applications of soy protein in diverse industries is also contributing to the soy protein market expansion. Soy protein is an essential source of protein for cattle in the animal feed business. Due to its ability to moisturise and condition skin, soy protein is used extensively in the beauty sector to create a variety of skincare products.
Additionally, there is a greater emphasis on soy protein as a functional ingredient for plant-based goods as a result of the growing demand for plant-based alternatives in the food and beverage industry. With the rise of veganism and the popularity of plant-based diets, soy protein has become a crucial ingredient in the development of meat- and dairy-free substitutes, which has fuelled the soy protein market expansion.
Soy Protein Market Segmentation
The market can be divided based on type, application, and region.
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Market Breakup by Type
- Isolate
- Concentrate
- Textured Soy Protein
Market Breakup by Application
- Bakery and Confectionery
- Functional Foods
- Pharmaceuticals
- Meat Additives
- Feed
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global soy protein companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- Wilmar International Limited
- CHS Inc.
- Nutrition Biosciences
- Archer Daniels Midland Company
- Others
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