U.K. Soy Protein Market- Size, Trends, Competitive Analysis and Forecasts (2022-2027)

U.K. Soy Protein Market to be worth $850 million by 2027

The soy protein market of the U.K. is one of the largest markets in the European region. The country holds around 18% of the European soy protein market. Many experts believe that formal completion of the U.K. exiting from the European Union would constrain exports, which would provide some hiccups to the soy protein market in coming years. The demand for plant protein in the country has been rising rapidly in the past decade. An increasing number of people in the country are getting inclined towards consuming plant-based products. The soy protein market in the U.K. has a market revenue of $577.9 million in 2021. With a growing demand for alternate protein over animal-based protein, the revenue of soy protein is estimated to capture the value of $851.1 million by 2027, registering a CAGR of 6.6% during the forecast period from 2022 to 2027.

One of the most important drivers for the country's soy protein market is growing concerns regarding the environment and the ethics surrounding animal farming. Hence, the majority of the people in the country are choosing to eat products that are free of animal-based ingredients. This has led to a rapid rise in the demand for plant protein products. As a result, the application of soy protein across the food industry currently captures the highest market share of around 39% of all the soy protein application segments. Most of the demand for soy protein in the food industry comes from the demand for meat alternative products such as sausages, hotdogs, burgers, and chicken-free nuggets. Another major driver for the soy protein market in the U.K. is the rising population committed to improving their physical health. The youngsters in the country are highly interested in building strong muscles and a healthy body. These favorable trends in the country are expected to drive growth in the soy protein application across the dietary supplement industry.

However, there are many restraints that the soy protein market in the country faces. Major constraint to soy protein marker is the U.K. exiting from the EU. The Brexit has resulted in U.K. becoming a less attractive market for the investors in the EU due to high taxes. Moreover, the demand for other plant-based proteins such as pea, rice, and wheat protein products is rising rapidly because of increasing concern about the allergens present in soy protein. Pea protein has attracted the attention of both food manufacturers and consumers, posing a threat of substitution to the soy protein.

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