The Soy Protein Market was valued at US$ 7 Bn in 2022, according to Soy Protein Market Report, by Source (Conventional and Organic), by Product Type (Isolates, Concentrates, and Others (Hydrolysates/Flour, etc.)), by Application (Food & Beverage, Pharmaceutical, Cosmetics, and Others (Adhesives, Plastics, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa).
The soy protein market is projected to reach US$ 12.34 Bn by 2030, exhibiting a CAGR of 7.34% during the forecast period (2023-2030). The protein content in soybean is very high (around 40%) and it possesses essential amino acids required for human health. Moreover, soy proteins are proven to have a cholesterol-lowering effect and therefore, have the potential to be used for the treatment of cardiovascular diseases (CVD) including coronary heart diseases (CHD). For instance, according to the factsheet released by the World Health Organization (WHO) for CVD in May 2017, it was estimated that 17.9 million people died due to CVDs globally in 2016, which represented 31% of all the global deaths. Less consumption of saturated fats is necessary to maintain normal blood cholesterol levels, thereby preventing the occurrence of CVD. Soy proteins are beneficial for curing CVDs, as they show cholesterol-lowering effects and this in turn is expected to boost the demand for soy proteins during the forecast period.
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Browse 24 market data tables* and 12 figures* on "Soy Protein Market” - Global forecast to 2030.
Key Trends and Analysis of the Soy Protein Market:
- Key players in the cosmetics industry are focusing on using botanical extracts to replace toxic chemical ingredients in their products, owing to rising demand for natural product-based personal care ingredients. For instance, ‘wet n wild’ offers a ‘MegaProtein Mascara’, which contains hydrolyzed soy proteins and wheat proteins. The company states that soy and wheat proteins conditions eyelashes to make them fuller and thicker.
Key Takeaways of the Market:
- Among applications, the cosmetics segment is expected to gain major traction over the forecast period, owing to increasing awareness about natural and plant-derived surfactants used in cosmetic products. Soy proteins exhibit excellent emulsifying activity and therefore, find applications in body, hand, and face care products including hair conditioners, hair dyes and colors, shampoos, other hair care products, skincare products, and mascara. For instance, the Rossano Ferretti salon chain offers a leave-in conditioner, ‘Vivace’, prepared from naturally derived ingredients including guarana, soy, and almond proteins, which have strengthening and conditioning effects on hair and also help to maintain hair moisture balance.
- Among sources, the organic segment is expected to gain major traction over the forecast period, owing to increasing awareness about the benefits of sustainable organic farming. For instance, the ‘Europe Soya Declaration’ was signed by EU countries on July 17, 2017, whose primary goal was to produce sustainable soybean and other legumes. This declaration supports the European Union’s Sustainable Development Strategy.’
- Among regions, Asia Pacific is expected to hold a significant market share over the forecast period, owing to increasing demand for nutrient supplements/nutraceuticals from countries such as India and China. For instance, according to data released by India Brand Equity Foundation (IBEF), in July 2017, the Indian nutraceuticals market is expected to grow from US$ 4 billion in 2017 to US$ 10 billion by 2022 at a CAGR of 21%. Soy proteins are potential dietary supplements, which provide various health benefits such as weight loss, and treatment for heart diseases, hypertension, and diabetes, which in turn is expected to fuel its demand in the region.
- Major players operating in the soy protein market include Archer Daniels Midland Company, Cargill Inc., DowDuPont Inc., Imcopa Food Ingredients B.V., CHS Inc., Crown Soya Protein Group, Wilmer International Ltd., Foodchem, Kerry Ingredients Inc., and Burcon NutraScience Corporation
