How has the soy protein market evolved, and where is it heading next?
The soy protein market size has grown strongly in recent years. It will grow from $11.05 billion in 2024 to $11.67 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to the strong economic growth in emerging markets, growing number of health-conscious consumers, rising awareness associated with benefits of plant-based protein food products, shift towards vegan eating and growth in dietary supplements.
The soy protein market size is expected to see strong growth in the next few years. It will grow to $14.44 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to government initiatives towards plant-based protein, change in preference of consumers for meat alternatives, increasing adoption of plant-based meat on menus, rising penetration of organized retail, increase in lactose intolerance and rapid growth in ecommerce. Major trends in the forecast period include on developing new technology to improve the oil, protein, and sustainability profile, focusing on plant-based protein ingredients, using artificial intelligence (AI) to analyze phytonutrients for potential health benefits, focusing on high yield raw materials to reduce processing time and resource consumption and increasing investments in soy protein.
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How have varous drivers impacted the growth of the soy protein market?
The increasing vegan population is contributing to the growth of the soy protein market. A vegan diet excludes animal products such as fish, dairy, meat, and eggs. Vegan and flexitarian diets are becoming more popular as the plant-based business has developed and people becoming more conscious of the difficulties surrounding meat production. With a surge in the vegan population, there is an increase in demand for soy protein as people seek to add soy protein to their diet to maintain a protein balance. For instance, in January 2023, according to Food Manufacture, a UK-based internet publishing company focused on the food and drink processing industry, a new study reveals that the number of vegans in the UK grew by 1.1 million between 2023 and 2024. According to research by Finder, the vegan population in the UK has reached 2.5 million over the past year, now making up 4.7% of the adult population. Therefore, the rise in the vegan population is expected to propel the growth of the soy protein market in the coming years.
What are the primary segments of the soy protein market?
The soy protein market covered in this report is segmented –
1) By Product Type: Soy Protein Concentrates, Soy Protein Isolates, Textured Soy Protein, Soy Flour, Grits, and Chunks
2) By Nature: Organic Soy Protein, Conventional Soy Protein
3) By Form: Powder, Ready To Drink, Bars, Capsules And Tablets, Other Forms
4) By Application: Bakery And Confectionery, Meat Alternatives, Functional Foods, Dairy Replacers, Infant Foods, Other Applications
5) By Distribution Channel: Specialty Store, Convenience Store, E-Commerce Or Online Sale Channel, Supermarket Or Hypermarket
Subsegments:
1) By Soy Protein Concentrates: Regular Soy Protein Concentrate, Instant Soy Protein Concentrate
2) By Soy Protein Isolates: Regular Soy Protein Isolate, Instant Soy Protein Isolate
3) By Textured Soy Protein: Textured Vegetable Protein (TVP), Soy Meat Alternatives
4) By Soy Flour: Defatted Soy Flour, Full-Fat Soy Flour
5) By Grits: Coarse Grits, Fine Grits
6) By Chunks: Soy Protein Chunks, Soy Protein Nuggets
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Which firms are leading the soy protein market?
Major companies operating in the soy protein market include Archer-Daniels-Midland Company, Wilmar International Limited, CHS Inc, Cargill Incorporated, Fuji Oil Company Ltd, International Flavors & Fragrances Inc, Royal Ingredients Group, Solbar Ningbo Protein Technology Co.Ltd., Nordic Soya Oy, Sonic Biochem, Vyas Bio Life Sciences Private Limited, Krungthep Trading Co. Ltd, Bw Binyuy Holdings (Pty) Ltd, Solitude Global Impex, Nutra Healthcare, Curemax Pharma, STDM Food & Beverages Private Limited, Titan Biotech Ltd, Halcyon Proteins, WuXi Biologics, FOODCHEM, Sun Green Group, Alfa Laval, Shandong Yuxin Soybean Protein Co, Jinan Grace Industry Co. Ltd, The BakeRite Company, Soya UK, Ingredients UK, Bion Corporation, Lantmannen, Kerry Group PLC, Biesterfeld AG, A. Costantino & C. S.P.A, Sojaprotein, Green Wise, Welldone, Roquette, Salconserv, Latraps, Vaks, Sbfoodinno, Benson Hill, Bunge Limited, DuPont de Nemours Inc, Green Labs LLC, Axiom Foods Inc, Ingredion Incorporated, Parabel, Burcon NutraScience Corporation, Glanbia plc, De Alimentos, Adm Do Brasil Ltda, Tomorrow Foods, Koita FZE, At Al Islami Foods, Blue Diamond Growers Inc, Daiya Foods Inc, Earth’s Own Food Company Inc, Soy Africa Limited, Eden Foods Inc, Freedom Foods Group Ltd, The Hain Celestial Group Inc, Sunopta Inc.
How will industry trends affect the trajectory of the soy protein market?
Major companies operating in the soy protein market are focused on new technologies, such as the CropOS technology platform, to enhance crop yields, improve nutritional profiles, and develop more sustainable farming practices. The CropOS technology platform is an advanced agricultural system that leverages data analytics and artificial intelligence to optimize crop performance and sustainability. For instance., In February 2022, Benson Hill, Inc., a US-based food tech company, launched TruVailTM ingredients derived from Benson Hill’s proprietary Ultra-High Protein (UHP) soybeans. These soybeans require fewer processing steps compared to conventional soy protein concentrate (SPC), making them a more sustainable option.
Which geographic trends are shaping the soy protein market, and which region has the highest market share?
The countries covered in the soy protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Soy Protein Market Report 2025 Offer?
The soy protein market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Soy protein is a protein that is isolated from the soybean. Soy protein is a high-protein source that can help to lose weight, increase energy, and build muscle. Soy protein has been utilized as an ingredient in a range of cuisines, including vegetarian foods, salad dressings, soups, and meat substitutes, due to its functional characteristics. Emulsification and texturizing are two of its functional features.
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