Soy protein is a complete protein derived from soybean containing all the essential amino acids required by the human body. It is used as a meat substitute and as sports nutrition owing to its high nutritional value. Soy protein provides several health benefits such as reducing cholesterol levels, managing weight, and lowering the risk of chronic diseases. The growing health consciousness among individuals has raised the demand for soy-based foods and beverages which has contributed to the growth of the soy protein market.

The global Soy Protein Market is estimated to be valued at US$ 8.66 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing awareness about the health benefits of soy protein among consumers has fueled the demand for soy-based food products in the recent years. Due to the presence of isoflavones that have antioxidant properties, soy products help in reducing the risk of chronic diseases like cancer and heart diseases. Soy protein also improves bone health by increasing calcium absorption in the body. With more individuals focusing on maintaining overall well-being, the demand for functional foods containing soy protein has witnessed strong growth over the past few years which has significantly driven the soy protein market.

Segment Analysis

The global soy protein market is dominated by the isolates sub-segment which holds around 50% market share. Soy protein isolates have protein content of over 90% and are highly processed which make them easily digestible. They are preferred for various applications where high protein content is required such as infant food, meat alternatives, etc.

Key Takeaways

The Global Soy Protein Market Demand is expected to witness high growth over the forecast period from 2024 to 2031. The market is projected to grow at a CAGR of 4.6% during this period and reach a value of US$ 8.66 Mn by 2024.

Regional analysis: Asia Pacific region currently dominates the soy protein market with a share of over 35% globally. China is the largest producer and consumer of soy protein in the world. Presence of major livestock industries in countries like China and India is driving the demand for soy protein as key protein supplement. North America is another major region for soy protein market owing to the rising demand for plant-based meat alternatives in the region.

Key players: Key players operating in the soy protein market are Anmol Chemicals, Bartek Ingredients Inc., Changmao Biochemm, ESIM Chemicals, Fuso Chemical Co. Ltd, Merck KGaA, Polynt, Thirumalai Chemicals Ltd, UPC Group, Yongsan Chemicals Inc., and XST Biological Co. Ltd. The global market is moderately consolidated in nature with top 5 players accounting for around 30-35% of the market share. Companies are focusing on expansion in emerging countries and new product launches catering to various applications.

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