Soy Protein Market

Soy Protein Market Size, Share, Trends, Growth, and Industry Analysis, By Product Type (Soy Protein Concentrates, Soy Protein Isolates, Soy Flour, Textured Soy Protein, Grits and Chunks) By Nature (Organic Soy Protein and Conventional Soy Protein), By Form (Powder, Ready To Drink, Capsules And Tablets, Bars and Other), By Application (Bakery And Confectionery, Functional Foods, Dairy Replacers, Meat Alternatives, Infant Foods and Other), By Distribution Channel (Specialty Store, Convenience Store, E-Commerce Or Online Sale Channel, Supermarket Or Hypermarket), Regional Analysis and Forecast 2032.

Food & Beverages | May 2024 | Report ID: EMR00853 | Pages: 252

Global Soy Protein market size was USD 12.63 billion in 2023 and the market is projected to touch USD 18.84 billion by 2032, at a CAGR of 4.54% during the forecast period.


Soy protein is a plant-based protein extracted from soybeans and is commonly used in various food products, including meat substitutes, dairy alternatives, and nutritional supplements. It is favoured for its high protein content, versatility, and health benefits, such as being low in saturated fat and cholesterol-free. The growing demand for vegan and vegetarian food products, expanding consumer knowledge of the health benefits of plant-based diets, and growing concerns about animal cruelty and environmental sustainability are what are driving the soy protein industry. Furthermore, new soy protein products with enhanced flavor, texture, and nutritional profile have been developed as a result of technological developments in food processing and component formulation, which has further accelerated market expansion. But the market also has to contend with issues including volatile soybean pricing, restrictions pertaining to genetically modified organisms (GMOs), and competition from other plant-based protein sources like wheat and pea protein.


Global Soy Protein report scope and segmentation.

Report Attribute


Estimated Market Value (2023)

USD 12.63 billion

Projected Market Value (2032)

USD 18.84 billion

Base Year


Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Product Type, By Nature, By Form, By Application, By Distribution Channel, & Region.

Segments Covered

By Product Type, By Nature, By Form, By Application, By Distribution Channel, & By Region.

Forecast Units

Value (USD Million or Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Global Soy Protein dynamics

The market for soy protein is expanding due to consumer demand for more sustainable and healthful food options, as more people look for plant-based substitutes for dairy and meat. The market is expanding due to growing knowledge of soy protein's health benefits, which include its high nutritional content and ability to lower the risk of certain diseases. Additionally, soy protein is becoming more and more popular among consumers and food manufacturers due to the rising frequency of vegetarian and vegan diets, as well as concerns about animal welfare and environmental sustainability.

The market for soy protein is also heavily influenced by regulatory developments, particularly those that pertain to genetically modified organisms (GMOs), food safety standards, and labeling requirements. Market players must abide by these rules in order to guarantee the safety and quality of their products and to keep consumers' trust.

Innovation in the soy protein market is also being fuelled by technical developments in food processing and component formulation, which are producing new and improved products with better flavor, texture, and nutritional profiles. These developments boost market growth and competitiveness by enabling food makers to adapt to changing consumer preferences and market trends.


Global Soy Protein drivers

  • Increasing Demand for Plant-Based Protein

Growing public awareness of the health advantages of plant-based diets is one of the key factors propelling the soy protein industry. The growing health consciousness among consumers has led to a growing need for plant-based proteins such as soy protein as an alternative to animal-derived products. For those who are vegetarians or vegans or who want to cut back on their consumption of animal products, soy protein is a desirable alternative because it provides a comprehensive source of protein that includes all essential amino acids. Soy protein is also low in saturated fat and cholesterol, which makes it a better option for people who have concerns about their general health and heart health.

  • Rising Preference for Sustainable and Environmentally-Friendly Food Options

The shift towards sustainable food sources, such as soy protein, is being driven by consumers and food manufacturers due to concerns about animal welfare and environmental sustainability. Comparing soy protein to animal agriculture, soybeans use less natural resources like land and water, making them a more environmentally friendly choice. Sustainable farming methods can also be used to raise soybeans, which lessens their impact on the environment. The market for soy protein is anticipated to continue expanding due to customer desire for sustainable food items as they become more ecologically conscious.



  • Price Volatility of Soybeans

Soybean price volatility can be a major source of constraint for the soy protein market. Numerous factors, including weather patterns, the dynamics of the global supply and demand, and trade policy, can affect fluctuations in soybean prices. Abrupt price changes have the potential to influence the price and profitability of products by creating uncertainty for manufacturers and raising the cost of producing soy protein. Price volatility can also cause supply chains to break down and make it difficult to predict demand, which presents operational difficulties for market players.

  • Regulatory Constraints and GMO Concerns

Regulatory constraints related to genetically modified organisms (GMOs) can hinder the growth of the soy protein market. While GMO soybeans are widely cultivated and used in soy protein production, regulatory requirements and labeling regulations vary across regions, impacting market access and consumer acceptance. Concerns about the safety and environmental impact of GMOs also contribute to regulatory scrutiny and consumer scepticism. Compliance with GMO labeling requirements and addressing consumer concerns about GMOs are essential for market players to maintain consumer trust and market competitiveness.



  • Product Innovation and Diversification

Market players can differentiate their products and capture new market segments by pursuing product innovation and diversification. Innovative soy protein products with better taste, texture, and usefulness can be created owing to technological developments in food processing and ingredient composition, meeting changing customer demands and gastronomic trends.

For instance, the development of soy protein isolates and concentrates makes it possible to produce dairy and meat substitutes with qualities comparable to those of their animal-derived counterparts, appealing to a wider range of consumers looking for sustainable and healthier options. Furthermore, adding vitamins, minerals, and other functional components to soy protein products strengthens them, increasing their nutritional value and expanding their use in functional foods and beverages, which opens up new business potential.


Segment Overview

  • By Product Type

The market for soy protein is made up of a range of product categories that serve various customer preferences and uses. Among the important product categories are soy protein concentrates, isolates, and textured soy protein, soy flour, grits, and chunks. Because of their high protein content and useful qualities, soy protein isolates and concentrates are frequently employed as components in food items.

Textured soy protein functions as a plant-based meat substitute by providing a texture similar to that of meat. Grits, chunks, and flour made from soy are used to provide texture, flavor, and nutrition to baked products and confections. Because each product type has distinct qualities and uses, soy protein is more versatile and has a growing market.

  • By Nature

The distinction between organic and conventional soy protein addresses consumer preferences for natural and sustainable food products. Organic soy protein is produced without synthetic pesticides or fertilizers, aligning with organic farming principles and meeting the demand for clean-label and environmentally-friendly products. Conventional soy protein, on the other hand, encompasses a broader market segment and may be more accessible and cost-effective for consumers. The availability of both organic and conventional options allows for greater flexibility in product development and marketing strategies, catering to diverse consumer needs and preferences.

  • By Form

There are numerous types of soy protein to suit a range of applications and dietary preferences. Since it's convenient and adaptable, powdered soy protein is frequently employed as a component in food and beverage recipes. Customers looking for protein-rich drinks have a quick and portable choice in ready-to-drink soy protein beverages. Supplemental nutrition and dietary supplements are available in portion-controlled and portable forms like bars, capsules, and tablets. The variety of forms increases soy protein's accessibility and utilization opportunities, increasing its commercial potential and customer reach.

  • By Application

Soy protein finds extensive use across a range of food and beverage applications, catering to diverse dietary needs and culinary preferences. Bakery and confectionery products incorporate soy protein for texture enhancement, nutritional fortification, and allergen substitution. Meat alternatives utilize soy protein to create plant-based substitutes with meat-like taste and texture, appealing to vegetarian and flexitarian consumers.

Functional foods leverage soy protein's health benefits for targeted nutritional purposes, such as sports nutrition and weight management. Dairy replacers offer lactose-free alternatives for individuals with dairy allergies or intolerances, expanding the market for soy protein in the dairy industry. Infant foods benefit from soy protein's high-quality amino acid profile and digestibility, meeting the nutritional needs of growing infants and toddlers. Each application segment showcases the versatility and adaptability of soy protein in meeting diverse consumer demands and market trends.

  • By Distribution Channel

The distribution channels for soy protein products encompass various retail formats to reach consumers across different locations and shopping preferences. Specialty stores cater to niche markets and health-conscious consumers seeking specific dietary products, offering a curated selection of soy protein brands and variants.

Convenience stores provide accessible and on-the-go options for consumers looking for quick and convenient purchases, enhancing the availability and visibility of soy protein products. E-commerce or online sale channels offer convenience and accessibility for consumers to browse and purchase soy protein products from the comfort of their homes, facilitating direct-to-consumer sales and market reach.

Supermarkets and hypermarkets serve as major distribution channels for soy protein, offering a wide assortment of brands and product variants to cater to diverse consumer preferences and shopping behaviors. Each distribution channel plays a crucial role in expanding market access and consumer awareness of soy protein products, contributing to market growth and penetration.


Global Soy Protein Overview by Region

North America and Europe are prominent markets for soy protein, driven by the increasing adoption of plant-based diets, growing demand for meat alternatives, and robust food processing industries. These regions have well-established regulatory frameworks promoting the use of soy protein in food formulations and supporting consumer awareness initiatives regarding health and sustainability.

As a result of shifting dietary preferences, growing food and beverage sectors, and population growth, Asia Pacific is emerging as a key soy protein growth market. The market is expanding due in large part to the increased emphasis on functional foods, nutritional fortification, and health-conscious consumer trends in nations like China and India.

The consumption of soy protein is steadily expanding across Latin America, the Middle East, and Africa due to factors like growing urbanization, rising disposable incomes, and more knowledge of the health advantages of plant-based diets. However, price sensitivity, cultural preferences, and competition from other protein sources may pose problems for market penetration in these regions.



Global Soy Protein market competitive landscape

Companies such as Archer Daniels Midland Company, Cargill, DuPont Nutrition & Biosciences, and Kerry Group plc are among the leading players in the market, leveraging their extensive research and development capabilities to introduce new soy protein products and formulations tailored to meet evolving consumer preferences and market trends. These companies also focus on strategic partnerships, mergers, and acquisitions to expand their market presence and enhance their product portfolios.

Furthermore, regional and local competitors hold a significant position in the market by providing specialized soy protein solutions that appeal to niche segments and regional tastes. Industry participants' competitive positioning and market strategies are shaped by elements including technical breakthroughs, sustainability initiatives, and regulatory compliance, among others, which also have an impact on the competitive landscape.

Competition in the soy protein industry is predicted to heat up as demand for plant-based proteins rises, spurring more innovation and market consolidation among major competitors looking to hold onto their competitive advantage and seize new market opportunities.

Key Players:

  • The Hain Celestial Group Inc.
  • Freedom Foods Group Ltd.
  • Eden Foods Inc.
  • Soy Africa Limited
  • Earth's Own Food Company Inc.
  • Daiya Foods Inc.
  • Blue Diamond Growers Inc.
  • At Al Islami Foods
  • Koita FZE
  • Tomorrow Foods
  • Adm Do Brasil Ltda
  • De Alimentos
  • Glanbia PLC
  • Burcon NutraScience Corporation
  • Parabel
  • Ingredion Incorporated
  • Green Labs LLC
  • DuPont de Nemours Inc.
  • Bunge Limited
  • Benson Hill
  • Sbfoodinno
  • Vaks
  • Latraps
  • Salconserv
  • Roquette
  • Welldone
  • Green Wise
  • Sojaprotein
  • A. Costantino & C. S.P.A
  • Biesterfeld AG
  • Kerry Group PLC  


Global Soy Protein Recent Developments

  • Aug 2022, ADM and Benson Hill, Inc. have unveiled a lasting strategic alliance aimed at expanding innovative soy ingredients to cater to the surging demand for plant-based proteins. This collaboration targets diverse plant-based food and beverage sectors, addressing the preferences of customers seeking savory, sweet, and dairy alternatives.
  • Feb 2022, Benson Hill, Inc., a food tech firm dedicated to harnessing the inherent genetic diversity of plants, has introduced TruVail, a fresh range of domestically acquired, non-GMO plant-based protein ingredients boasting distinctive sustainability advantages. TruVail debuts with high protein soy flour, presenting a minimally processed alternative to soy protein concentrate (SPC), along with texturized proteins suitable for diverse applications in both conventional soy protein sectors and the rapidly expanding alternative plant-based protein markets.


Scope of global Soy Protein report

Global Soy Protein report segmentation



By Product Type

  • Soy Protein Concentrates
  • Soy Protein Isolates
  • Textured Soy Protein
  • Soy Flour
  • Grits
  • Chunks

By Nature

  • Organic Soy Protein
  • Conventional Soy Protein

By Form

  • Powder
  • Ready To Drink
  • Bars
  • Capsules And Tablets
  • Other

By Application

  • Bakery And Confectionery
  • Meat Alternatives
  • Functional Foods
  • Dairy Replacers
  • Infant Foods
  • Other

By Distribution Channel

  • Specialty Store
  • Convenience Store
  • E-Commerce Or Online Sale Channel
  • Supermarket Or Hypermarket

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request


  • Available upon request


Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Soy Protein size and forecast: To identify and estimate the market size for global Soy Protein market segmented By Product Type, By Nature, By Form, By Application, By Distribution Channel, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Soy Protein
  • Market Influencing Factors: To find out the factors which are affecting the market of global Soy Protein among consumers.
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Soy Protein forecast period is 2024 - 2032.
According to global Soy Protein research, the market is expected to grow at a CAGR of ~ 4.54% over the next eight years.
The possible segments in global Soy Protein are based on By Product Type, By Nature, By Form, By Application, By Distribution Channel, & by region.
The expected market size for Global Soy Protein is USD 18.84 billion in 2032.
The major players in the market are The Hain Celestial Group Inc., Freedom Foods Group Ltd., Eden Foods Inc., Soy Africa Limited, Earth's Own Food Company Inc., Daiya Foods Inc., Blue Diamond Growers Inc., At Al Islami Foods, Koita FZE, Tomorrow Foods, Adm Do Brasil Ltda, De Alimentos, Glanbia PLC, Burcon NutraScience Corporation, Parabel, Ingredion Incorporated, Green Labs LLC, DuPont de Nemours Inc., Bunge Limited, Benson Hill, Sbfoodinno, Vaks, Latraps, Salconserv, Roquette, Welldone, Green Wise, Sojaprotein, A. Costantino & C. S.P.A, Biesterfeld AG, and Kerry Group PLC.

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