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

South America Soy Protein Market to be worth $1.9 billion by 2027

Just after Asia, South America is one of the fastest developing regions globally. For long most of the countries in the region have suffered from various issues such as terrorism, drugs, mafia, and political instability. However, since the last few years, the situation has been improving not only for the population living in the country but also for the foreign companies that are highly willing to expand their operation in the region. The soy protein industry in South America currently captures around 11% of the global soy protein market share. The market revenue of soy protein in the region is recorded at $1,258.8 million in 2021. With strong demand for plant-based proteins, the revenue is projected to capture the value of $1,886.2 million by 2027, registering at a CAGR of 7.0% during the forecast period 2022 to 2027.

Major drivers for the soy protein industry in the region are growing demand for products such as protein bars, protein shakes, etc., among health-conscious consumers, the rising level of income of the lower-class population, the surging trend of leading a healthy lifestyle, and growing market revenue of meat and dairy alternative products. The market of Brazil and Argentina captures the highest share of the soy protein industry. Both these countries are growing rapidly in terms of economic development. Hence, global soy protein manufacturers are setting an eye to investing in these two countries because of high support from the local Government. Such investment will increase the soy protein market revenue.

The market for soy protein substitutes such as wheat, rice, and pea proteins is growing at a considerable rate. These protein types can pose a major threat to the growth of the soy protein market because of serious concerns about the allergies associated with soy protein consumption. Moreover, most of the countries in this region lack infrastructure development or unfavorable investment policies. Both attributes pose major restraint to the soy protein industry. However, an increasing number of the young population have resorted to increasing protein consumption for weight management. This presents a huge opportunity for the soy protein market to grow. Additionally, the development of high protein-containing drinks and rising demand for ready-to-drink beverages also provides a high growth opportunity for the soy protein market in the region.

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 and countries
• Supply & demand side trend and analysis
• Price trend analysis, investment prospects, and competition pattern
• Insights on the growth potential of the market in key countries
• Detailed analysis of major producers covering financial investments & strategies adopted
• Competitive landscape of the industry