Brazil Soy Protein Market- Size, Trends, Competitive Analysis and Forecasts (2022-2027)

Brazil Soy Protein Market to be worth $1.3 billion by 2027

The economy of Brazil is very strong compared to the economies of other countries in the region. Brazil is amongst the fastest-growing economies in the world. In the last few years, the economy has taken a downturn due to political instability, charges of corruption against the previous Government, and a slowdown in industrialization in the country. Nevertheless, the country has captured significant market revenue of soy protein since the past decade. Currently, Brazil accounts for 66% of the South American soy protein market. The country's market revenue of soy protein is projected to capture a value of $1295.7 million by 2027, registering the fastest CAGR of 7.3% during the forecast period 2022 to 2027.

Brazil’s soy protein industry drivers include rising concern about health problems particularly obesity, growing demand for vegan food products, and rapidly rising income levels at the middle and lower classes. As a result, the application of soy protein across food industry shares the highest market share compared to the other applications of soy protein. Furthermore, with the growing population adopting a vegetarian diet, manufacturers in the soy protein industry are increasingly launching new products that serve the needs of the food industry.

Over the years, the beverage industry has seen significant changes in flavor, and the introduction of beverages with clean and organic ingredients. The application of soy protein across the beverage industry represents 17% of the market share. Beverage producers are capitalizing on the demand for soy protein and are planning to launch juices, and flavored drinks with soy protein. However, its market revenue is projected to grow at a rapid CAGR of 7.6% to capture the value of $229.2 million by 2027.

The young population in the country is highly interested in hitting gym and fitness clubs to lead a fit and healthy lifestyle. Moreover, the fitness trainers and gym instructors highly influence Brazilians' buying behavior. The push from fitness experts for protein-rich diets has resulted in a rapidly rising demand for plant protein-based products. The dietary supplements industry currently captures the highest growth rate among all applications of soy protein. The application of soy protein in dietary supplements is estimated to cross $500 million by 2027, growing at a CAGR of 8.1% from 2022 to 2027. Other major applications of soy protein include the animal feed industry, which shares around 10% of soy protein application.

Key Deliverables

• Market trends since 2018 and five year forecasts of market growth
• Detailed analysis of the micro and macro elements influencing demand trends
• Identifying opportunity spaces across segments
• Supply & demand side trend and analysis
• Price trend analysis, investment prospects, and competition pattern
• Insights on the growth potential of the market
• Detailed analysis of major producers covering financial investments & strategies adopted
• Competitive landscape of the industry