Soy Protein Isolate Market Strategic Growth Analysis, 2024-2034 (2024)

Soy Protein Isolate Market Outlook from 2024 to 2034

Global soy protein isolate sales are estimated to be worth USD 3,675.1 million in 2024. The soy protein isolate market is expected to reach USD 8,573.2 million by 2034. It is projected to surge at a CAGR of 8.8% in the forecast period 2024 to 2034.

Rising frequency of lifestyle-related disorders such as constipation and growing levels of lactose intolerance among people is a propelling factor behind soaring sales of soy protein isolates. Wide range of applications of soy protein isolates extends even to the animal feed and infant food industry.

Rising awareness of the benefits of protein consumption, such as high muscle mass, better recovery post-workout, and enhanced satiety post-meal, are driving demand for soy protein isolates in the market. The ascending change toward vegetarianism and veganism is a result of people becoming sympathetic toward animals and more inclined toward their welfare. This stands out as the key reason fueling the soy protein isolate market expansion.

Greater penetration of e-commerce platforms in several countries is expected to increase the soy protein isolate market value. This is attributed to easy product accessibility and availability.

Rising number of participants in the market is creating heightened competition, eventually leading to a reduction in product cost. The soy protein isolate market is expected to experience rapid growth in the next few years due to increasing health consciousness, diverse product innovations, and extensive marketing on social media.

2019 to 2023 Global Soy Protein Isolate Market Growth Outlook Vs. 2024 to 2034

From 2019 to 2023, the global soy protein isolate market experienced slow and steady growth. Health, sustainability, and animal welfare were the key driving forces behind plant-based diets. Hence, demand for soy protein isolates and other plant-based protein sources significantly increased. It became a common ingredient in several food products for vegetarians and flexitarians.

Enhancements in food processing technologies helped create different types of soy protein isolate products. Furthermore, advanced methods of extraction and purification improved quality as well as functionality of soy protein isolates. It made them more applicable across a broad range of food and beverage applications.

The soy protein isolate market has traditionally been heavily concentrated in North America and Europe. From 2019 to 2023, escalation of disposable income, urbanization, and shift toward different dietary patterns were the key factors that increased demand for soy protein isolates worldwide.

The market is projected to surge at a CAGR of 8.8% in the forecast period. Increasing disposable income globally, alongside robust urbanization, are the factors driving the soy protein isolate market growth.

Demand Analysis of Soy Protein Isolates

Growing need for a healthy lifestyle and consumption of high-protein & nutritious food catalyzes market value. Rising veganism among young population worldwide is also propelling sales.

The expanding lactose-intolerant population promotes plant-based proteins free from dairy products, thereby driving demand for soy protein isolates. Manufacturers are incorporating industrial-grade soy proteins into the paper coating and textile fiber industries owing to their great emulsifying and texturizing properties.

Sales of soy protein isolates are expected to rise with growing awareness and use of functional foods. Rising e-commerce penetration globally is expected to surge the soy protein isolate market growth.

Increasing demand for soy-based infant formulas and animal feed is expected to raise the value of the market. Companies are using several regulatory claims and certifications to better position their products in the market.

Country-wise Insights

The table below shows the estimated growth rates of the top five countries. The United Kingdom, Germany, and India are set to record high CAGRs of 9.2%, 9.9%, and 10.5%, respectively, through 2034.

Booming Food and Beverage Industry in the United States to Gain Traction

In the United States, the established food and processing industry compels manufacturers to invest heavily in innovation, leading to launch of new products in the market. Leading companies engage with customers to better understand their needs and create innovative items in the soy protein isolate market.

The swiftly rising concerns among users and increased innovations are driving the plant-based protein ingredient market. Multiple applications across various segments and soy protein isolate’s large-scale usage in the functional foods and beverages sector are the key contributors to growth.

Evolving Lifestyle and Eating Patterns Fuel India's Market Growth

In India, rising urbanization is inducing the changing lifestyle patterns among people. The expanding food and beverage industry and increasing disposable income resulted in the rising trajectory of soy protein isolate sales.

The availability of soy protein isolate products in retail outlets and e-commerce channels is expanding significantly in India. The popularity of plant-based diets and convenience of online purchasing are fueling market expansion. Several brands make different flavors and formulations for soy protein isolates that cater to the taste preferences of various individuals.

Rising Demand for Clean-label and Non-GMO Products in China to Drive Sales

With growing concerns about the type and source of food ingredients, there is a rising demand for clean-label and non-GMO (genetically modified organism) products in China. Costumers are preferring soy protein isolates made from non-GMO soybeans and processed hygienically over whey-protein.

China's soy protein isolate manufacturers are enhancing product functionality, taste, and nutritional profile through research and development. They are also focusing on novel processing technology and creative formulations.

Category-wise Insights

The section below shows the dry segment dominating by product type. The segment is predicted to surge at a CAGR of 7.6% through 2034. Based on application, the functional food segment is anticipated to generate a dominant share through 2024. It is set to rise at 8.1% CAGR through 2034.

Dry Segment Tops the Product Type Category

Dry soy protein is a resourceful product that offers high nutrition and texture to foods & beverages. These ingredients are utilized in numerous applications, such as bakery, beverages, cereals, cereal bars, infant nutrition, and confectionery. The dry form of soy protein isolate is in high demand due to its extensive applications as excellent texture enhancers, long shelf life, convenient packaging, and easy blendability with other ingredients.

Adoption of Soy Protein Isolates in Food and Beverages to Surge Through 2034

In the food and beverage industry, soy protein isolates enhance the nutritional profile of products without compromising taste or texture, which has led to their widespread adoption. Manufacturers increasingly incorporate soy protein into drinks such as smoothies, shakes, and plant-based milk to appeal to health-conscious consumers seeking protein-rich options.

This trend is especially evident in the growing plant-based alternative market, where soy protein is a key ingredient to replicate traditional dairy products' creamy texture and protein content.

Soy protein isolates also play a crucial role in animal feed formulations. As a cost-effective source of high-quality protein, these help meet the dietary requirements of several livestock species, contributing to their growth and overall health.

Nutrient Segment to Lead by Function in the Market by 2034

The high protein content, while low in calories due to minimal fats and carbohydrates, makes soy protein a popular choice among health-conscious individuals and athletes. Beyond its nutritional benefits, soy protein serves several functional roles in food processing. Soy protein's nutritional value and multifunctional properties make it a versatile ingredient in multiple food applications.

Competitive Landscape

The soy protein isolate market has a dynamic and diverse competition structure. Key companies focus on research, innovation, maximized sourcing, and the latest formulations to expand their market reach. Manufacturers emphasize quality accreditations and sustainable practices to stay competitive in the market.

To maintain their prominence in the soy protein isolate market and increase sales, key companies are expanding the range of products they offer and employing business tactics, including partnerships, mergers, and acquisitions.

For instance

• In 2023, Nestlé launched the company's first reasonably priced and nutrition-dense instant protein powder in West and Central Africa. The powder is made by blending milk and plant ingredients.
• In 2024, WK Kellogg Co. entered the vegan space through its brand new Eat Your Mouth Off cereal brand to appeal to the eating trends of Gen Z shoppers.
• In 2022, United Kingdom-based MyProtein introduced Protein Dosa, a soy protein isolate powder for making DIY dosa, thereby creating an innovative product that can be an everyday breakfast meal.
• In 2022, Bunge Ltd. and Blendtek Ingredients signed a plant-derived protein distribution agreement that offers to bring various proteins to North America.

Key Companies Profiled

• Archer Daniels Midland
• Cargill Inc.
• Fuji Oil Holdings Inc.
• Farbest
• Kerry.
• Batory Food
• CHS Inc.
• Crown Soya Protein Group E.I.
• The Scoular Company
• Food Chem International
• Fuji Oil Holdings Inc.
• Nutra Food Ingredients LLC
• Osage Food Products
• Dupont De Numerous Company

Key Coverage in the Soy Protein Isolate Market Research Report

• Adjacent Study on the Soy Protein Concentrate Market and Textured Soy Protein Market
• Emerging Trends in Organic Soy Protein Isolates Market
• Opportunities Available in the Soy Food Product Market and Soy Lecithin Market
• Market overview of Soy Protein Isolate in North America, Europe, and Asia Pacific
• Soy Protein Isolate Market Valuation
• Market Study on global market for soy protein isolate
• Technology Transforms Soy Protein Isolate Industry Analysis

Global Soy Protein Isolate Market Segmentation by Category

By Product Type:

• Dry
• Liquid

By Application:

• Functional Foods
• Bakery and Confectionery
• Other Applications

By Function:

• Nutrients
• Emulsifiers
• Fat and Water
• Restaurants
• Other Functions

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa