Soy Protein Market - Forecasts from 2019 to 2024

The soy protein market was valued at US$4.777 billion in 2018 and is expected to grow at a healthy CAGR during the forecast period. Soy protein is that type of protein which is isolated from the soybean. It is prepared from the soybean meal which has been de-hulled or defatted. The growing trend towards the consumption of a high protein diet is emanating the growth of the global soy protein market during the forecast period. Additionally, changing food consumption pattern with the changing lifestyle conditions are further driving the market growth. Also, rising interest among the consumers towards a vegan diet will provide an opportunity for the growth of the global soy protein market in the coming years. However, preference towards the consumption of animal-based protein by many end users might hamper the market growth during the forecast period.

Drivers

Increasing health concerns regarding the benefits of protein diet.

The growing interest of consumers towards a vegan diet.

Restraints

Preference towards animal-based protein.

Preference of consumers towards soy free products.

Industry Update

In July 2018, Archer Midland Company and Cargill Incorporated, completed the agreement for the launch of SoyVenTM their joint venture in Egypt, for providing the soybean meal and oil to the customers of Egypt.

In November 2017, CHS Inc. announced its strategic partnership with DuPont for the production of Plenish®, a high oleic soybean which offers more functionality and higher nutrition profile.

The major players profiled in the soy protein market include Archer Daniels Midland Company, Cargill Incorporated, Ag Processing Inc., DuPont, NOW® Foods, Burcon, Farbest Brands, Wilmar International Ltd., CHS Inc., Kerry Inc.

Segmentation

The soy protein market has been analyzed through the following segments:

By Type
Soy Protein Isolate
Soy Protein Concentrates
Soy Flour

By Application
Food and beverages units
Infant foods
Dairy products
Animal feed

By Distribution Channel
Online
Offline

By Geography

North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others