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

U.S. Soy Protein Market expected to grow at the CAGR of 6.6% during 2022 to 2027

Amongst all the large soy protein markets worldwide, the soy protein market in the U.S. is the largest and accounts for 20% of the global market share. The strong economy of the U.S. is the backbone for the growth of the soy protein industry. The research institutes, manufacturers, and universities in the U.S. work in close collaboration to drive innovation in the soy protein market in terms of application, processing, and marketing strategies. Soy protein market revenue in the U.S. was worth 2,342.9 million in 2021 and is forecasted to grow at a CAGR of 6.6% from 2022 to 2027.

Various factors drive the growth of the soy protein market in the country. Firstly, the adoption of vegetarian products in daily diets has been growing rapidly. This has resulted in the growing demand for plant-based protein ingredients in various food products, from bakery items to sauces and soups. The application of soy protein across the food industry is projected to grow at a CAGR of 6.7% from 2022 to 2027, to reach the value of $1,398.4 million by 2027. This growth rate suggests that the demand for soy protein is going to intensify in coming years. Major soy protein manufacturers in the country such as Cargill Inc., ADM and Wilmar International are continuously launching variety of soy proteins that can be added to the food products both for primary and secondary uses.

Secondly, the demand for supplement products has grown rapidly in the past few years from all sections of the population, from young adults to the elderly population. Soy protein is used for the production of supplement products that helps in strengthening muscles and aid in coping with various problems related to health, such as obesity, cardiovascular and aging, especially among women. Soy protein has become a major ingredients in the beverage industry, with the increase in demand for ready-to-drink products, flavored drinks, and protein-rich juices. The beverage industry and dietary supplements currently account for a share around 14% and 21%, respectively, the market revenue of which is estimated to grow at the fastest CAGR of 7.0% and 7.5%.

In recent years, the use of soy protein in animal feed has been growing. The demand for high protein-containing feed for poultry, livestock, and aquaculture has been growing among animal keepers. Moreover, with an increase in exploration and research for expanding the applications of soy protein in the chemical, pharmaceuticals, and personal care industry, the market revenue of the rest of the applications is projected to grow at a CAGR of 4.7% from 2022 to 2027.

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