The global soy protein concentrate industry is estimated to be worth USD 1,300 million by 2024. It is projected to reach USD 4,900 million by 2034, reflecting a CAGR of 9.8% over the assessment period 2024 to 2034.
Soy protein is a component derived from soya beans that is famous for its properties and for this reason, is manufactured for usage in several industries. The processed soy protein comes into three categories mainly - soy flour, soy protein isolates, and soy protein concentrates. Dry-weight soy protein concentrates contain a high proportion of more than 65% of protein.
These are obtained from soybeans using soya flakes or flours from where fats, oils, and water-soluble non- protein materials have been removed. Acid leaching, ethanol extraction, and moist heat water leaching are the most common type of extraction techniques. The popularity of soy protein concentrate is mainly as one of the easy-to-consume protein source options for people, especially among vegans and vegetarians.
It provides all essential amino acids while having very low fat and cholesterol levels, making it a healthier protein source than those derived from meat. For this reason, it is mainly marketed as a protective food to people preventing conditions like heart disease, symptoms of menopause, osteoporosis, diabetes, few type of cancers, and impaired brain functioning.
Its use is expanding in animal and fish feed, dietary supplements, nutraceuticals, as well as functional foods which has led to increased production of soy protein concentrate and this growth is also driven by the quest for safer healthier plant sources.
| Attributes | Description |
|---|---|
| Estimated Global Soy Protein Concentrate Industry Size (2024E) | USD 1,300 million |
| Projected Global Soy Protein Concentrate Industry Value (2034F) | USD 4,900 million |
| Value-based CAGR (2024 to 2034) | 9.8% |
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The below table presents a comparative assessment of the variation in CAGR over six months for the base year (2023) and current year (2024) for the global soy protein concentrate market. This analysis reveals crucial shifts in performance and indicates revenue realization patterns, thus providing stakeholders with a better vision of the growth trajectory over the year. The first half of the year, or H1, spans from January to June. The second half, H2, includes the months from July to December.
| Particular | Value CAGR |
|---|---|
| H1 | 8.1% (2023 to 2033) |
| H2 | 8.3% (2023 to 2033) |
| H1 | 8.5% (2024 to 2034) |
| H2 | 8.7% (2024 to 2034) |
In the first half (H1) of the decade from 2024 to 2034, the business is predicted to surge at a CAGR of 8.1%, followed by a higher growth rate of 8.3% in the second half (H2) of the same decade. Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase to 8.5% in the first half and remain considerably high at 8.7% in the second half.
Rising Demand for Plant-based and Non-Dairy based Alternatives
The dietary preferences and patterns of the global population change constantly, and currently due to various trends, environmental factors, and diseases, this pattern has shifted towards plant-based alternatives. Soy protein concentrates obtained from soybeans are widely known due to their array of bioactive chemical compositions.
The health benefits of soy protein ranging from cardiovascular diseases to menopausal issues in women, are proven scientifically and are constantly being promoted by the government to tackle many issues. The changing consumption patterns of the global population ultimately lead to the rise in demand for greater plant-based alternative options. This trend is further heightened by the part of the population who are demanding plant-based dairy alternatives, especially in the beverage industry.
Constant investment in research and development, and marketing is underway to secure stable and high-quality plant-based raw materials. A large part of consumers has eliminated the traditional sources of protein, such as meat, dairy, and poultry, due to ethical concerns and the health risks associated with these products. To efficiently, provide plant-based protein to the global population, the best solution offering high nutritional value is soy protein products especially concentrates.
The nutritional benefits of this plant-based option have successfully garnered significant attention, making it an impactful protein source.
Eliminating Anti-Nutritive Factors for Better Utilization of Soy Protein Concentrates in Animal Feed
Soybean concentrates are also considered a highly nutritious source of protein in animal feed. It is used as a popular animal feed due to its nutritious profile, easy availability, and low costs. However, due to the presence of many anti-nutritive factors, these proteins cannot be fed raw to the animals.
Anti-nutritive factors (ANFs) are compounds that pose negative impacts by reducing the availability of one or more nutrients. The two ANFs present in soy protein concentrates are protease inhibitors and lectins. These factors can cause inhibition of growth and also affect the absorption of nutrients in animals.
The ANFs can be eliminated using various techniques, such as heat treatment, cooking, and extrusion, and thus the nutritional value for animals can be increased.
AND’s can also be removed by utilising two types of methods of extraction- ethanol extraction and enzymatic degradation. These extraction processes remove the soluble carbohydrates from soybeans. These concentrates are used to feed the calves and piglets as pre-starter feeds.
Currently, advancements in technology have opened up diverse applications and product lines for soy proteins, leading to frequent research and launches of new products. Furthermore, applications of soy protein concentrate in animal feed are driven majorly by the demand for sustainable plant source alternatives.
Principal Consultant
Global sales increased at a CAGR of 8.3% from 2019 to 2023. For the next ten years (2024 to 2034), projections are that expenditure on such products will rise at 8.7% CAGR.
Between 2019 and 2023, the concerns regarding human nutrition and health have been on a steady rise. Especially, the rising issues on procurement of adequate consumption of proteins for all age groups from humans to animals. Animal proteins which are considered one of the primary sources of proteins for humans are being avoided due to rising diseases among the animals, and are also led by the trend of vegan and vegetarian folks.
Due to this shift in the dietary patterns of the consumers, the demand for plant-based protein alternatives has increased to a great extent thus major companies are largely focusing on the production process and technologies utilizing plant-based ingredients that are rich in protein.
This shift in the preference pattern has led the companies to invest significantly in the research and development for various product formulations that will cater to the demand of consumer’s needs and also do not lack in taste, color, and texture. Researchers have developed a diverse number of products for both humans and animals to choose and these products have also been successful in replacing animal-based protein sources.
One such easily available alternative source of protein is “soybeans”. Proteins extracted from soy are tested to be of high quality and rich in essential amino acids, and are also easily convertible in desired shapes, sizes, and forms, thus making it widely popular. These characteristics of soy protein together with growing consistent demands from all consumers across the globe have fuelled the demand for soy protein concentrate products.
ADM has emerged as a leader in this field by making substantial investments in research and development. They have successfully launched a wide range of products including non-GMO certifications using advanced extrusion techniques. They have diligently partnered with the farmers who are instructed to follow regenerative agricultural practices to produce the products sustainably.
From 2024 to 2034, the sector is expected to grow due to several factors, including increased demand for innovative formulations consisting of the use of more than plant-based ingredients, optimized product lines that address specific health concerns, and collaboration of new technologies. Improved sustainable soy farming practices covering larger areas are set to further enhance the market for soy protein concentrate products.
By incorporating more plant-based ingredients, with similar biochemical profiles, targeting various health concerns or diseases, the rising demand is set to be heeded. A large range of product portfolios offering various certifications, for example, non-GMO, organic, clean-label, and sustainability claims aligned with technological advancements will help reduce waste and also promote overall health and well-being.
Tier 1 Companies are referred to as the major players of the industry as they are fully established worldwide with majority shares of the business ecosystem. Industry leaders always lead the level of creativity, research, and development and most of the time are the trendsetters. They include ADM, Cargill Inc., DuPont Nutrition & Biosciences, Kerry Group., Bunge Limited, Now Foods, Glanbia Nutritionals, and Wilmar International.
ADM and Cargill Inc., with its innovative plant-based ingredient formulations and effective global industry distribution, is the leading provider of sustainable soy protein concentrate products.
Tier 2 Companies are the regional players with adequate market coverage and are known for offering niche products. They are typically more localized and address specific issues of more general ones. Burcon NutraScience Corporation is an example of this, performing well in Canada using its innovative laboratory facilities which aim at developing novel protein ingredients from plant-based sources. In the same way, Sonic Biochem based in India, with a skilled research and development facility has become one of the largest producers offering a wide range of soya protein products in Asia.
Tier 3 Companies are smaller players who are usually limited to the local or regional areas. They tend to service localized areas and do not possess the same level of R&D as bigger companies but are nonetheless helpful in satisfying local needs. These companies are smaller in size but still strong in their target industries due to their deep-seated innovations and customer service.
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The following table shows the estimated growth rates of the top three territories. USA and China are set to exhibit high consumption, recording CAGRs of 8.3% and 8.9%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| USA | 8.3% |
| Brazil | 7.5% |
| China | 8.9% |
In addressing this issue, the USA, as the world’s number two soybean producer, has developed a number of measures from modern agriculture, policies, and the proliferation of new technologies to improve the soybean output. The favourable climatic conditions also play an important role in support of agricultural practices.
There has been tremendous growth in the production of soya beans in recent years due to the growing needs and demands of plant-based protein alternative meat sources. The population is growing, and at the same time, horizontal expansion of agricultural lands is a major issue that has adverse implications on food crop production.
However, the government, the manufacturers, and farmers have come up together and addressed the issue by providing long-term policies that seek to increase the growth of soybeans in order to feed the large populations.
Organizations like ADM, produce soy protein concentrate products with variable taste and texture enhancement for its consumers. ADM's soy protein concentrate enhances water holding, texture, emulsification, and viscosity performance at lower prices. The majority of Americans have adopted plant-based protein consumption due to the increase in health disorders associated with the eating of animal-based protein sources.
The increase in the changing dietary behaviour of consumers has also fuelled the increase in the veganism trend. The customers want plant-derived elements in everything, from food and drink to skincare and makeup, from health foods and drugs to vitamins, and even from animal products to energy sources.
Brazil is the global leader and ranks foremost in soybean production and exportation. Utilization and benefits of soybean have been long known since a long time in Brazil. As a result, soybeans are also produced on vast tracts of land with the help of modern machinery and new-age technology.
They are also more advanced in soybeans production since they have been practicing sustainable agriculture using berries that have been genetically modified for years. Most of the crops however go to animal feed and biofuels with little of it going to the food and drink sector.
As a solution to the problem of nutrition deficiency in those who do not consume animal proteins, the government of Brazil is advocating for the use of meat substitutes from soybean: instead of containing meat in products such as sausages, it is healthier and more sustainable to include soya.
In line with the growing consumption of soy protein as well as its derivative, Brazil will be at the forefront in adopting new and better technologies as well as introducing genetically modified soybeans and formulations.
The food extrusion market in Southern Asia, particularly in China is growing at an increasing rate owing to population density and urbanization with the increased per capita of consumers. China is the largest country in soybeans consumption globally and around 65% of soya beans in the country are imported from Brazil.
The beverage and food sector saturation of the working population and the taste change towards processed food are both going to lead to growth in the food and beverage sector. This change will clearly affect the supply and demand trends for soy protein concentrate. With an increase in the health-conscious population that advocates for the consumption of food with a low caloric value but high protein content, such protein concentrates made from soy are likely to be in high demand.
At the same time, the food and beverage market in China is benefiting from the rise of plant-based food products appeal and the need for protein-rich drinks, which will also boost the soy protein intake in the forecast period.
| Segment | Function |
|---|---|
| Value Share (2024) | 34.2% |
With the expanding population, greater emphasis is being laid on plant-based protein alternatives with multiple functional properties. Scientifically soy protein concentrates are said to contain approximately 65% of protein in dry weight, which is similar to the amount of protein in animal sources.
In addition to this high amount of protein, it also has a rich bioactive chemical profile containing compounds such as isoflavones, saponins, and phytosterols. This rich bioactive profile of compounds makes soy protein a versatile product in the production of functional foods and beverages.
Consumption of soy has been associated with many health benefits including chronic diseases such as obesity, certain types of cancer, immune-related disorders, diabetes, and cardiovascular diseases. These properties of soy have been greatly studied and researched to further channelize its uses in the production processes of functional food products.
The chemical profile of soy makes it useful in production processes such as water-binding, viscosity control, gelation, emulsification, solubility, and thickening. Functional properties of the ingredient play a very essential role in the processing and production of the targeted end-use product. Soy protein also plays an immensely important role in the processing of bakery products, breakfast cereals, meat and dairy-based products.
These are also used to stabilize and enhance the fat emulsion, viscosity, and moisture retention ability in cooking. In formulated foods, soy protein concentrates are said to stabilize the foods due to their antioxidant properties. Soy proteins are said to act as effective emulsifiers, due to their hydrophilic and hydrophobic nature, which helps them to diffuse, adsorb, and stabilize the oil droplets during the process of emulsification.
Among all the types of soy protein forms, concentrates exhibit good nutritional value and are also used for protein fortification. As the concentrates are denatured using alcohol, they contain improved flavours and textures, making them preferable commercially.
| Segment | Application type |
|---|---|
| Value Share (2024) | 28.5% |
Soy protein concentrates are formed from several ingredients including, essential amino acids, and fibers, micro and macronutrients with minimal content of fats and cholesterol. Around the world, countless researches are being done by scientists to establish the numerous advantages of soy protein consumption. It is commonly accepted in the food and beverages sector as it is said to be nutritious and has several functional benefits.
Within the food sector, it is applied as an additive to improve certain characteristics of products, for example, the extended shelf life of many bakery items. Soybean proteins are claimed to contain bioactive “glycinin” that exhibits anti-microbial properties.
This makes the soybean protein active against many pathogens and spoilage bacteria present in food. In the beverages sector, a commonly produced soy protein product is soy milk which is a non-dairy milk alternative, popular among the group of consumers who are lactose intolerant.
In the health and beauty regimen, soy protein concentrates come with a reputation for the ability to hydrate and soothe the skin. These are incorporated into several of such skin applications such as hair dye colours, face cleansers, body wash, makeup holding sprays, and many others.
Skincare products containing soy protein concentrates are said to repair the skin barrier, reduce aging, increase the production of collagen, and reduce hyperpigmentation. In biomedical applications, soy proteins are considered for many applications such as tissue engineering, wound healing, and drug delivery due to their high thermal capability, and biocompatibility properties.
The market for soy protein concentrates is on the rise with key players like ADM, Cargill Inc., DuPont Nutrition & Biosciences, and Kerry Group investing more resources into research and development of innovative soy protein concentrate formulations.
These firms are focused on developing products, especially soy protein concentrates that are new in the market, eco-friendly, easily accessible, and nutritious. Additionally, they strive to produce products that enhance the health of both human and animal beings.
To accomplish this, various strategies are being adopted by manufacturers to increase their sales including the introduction of new product category lines, novel advertising, use of meat alternatives, clean labelling, mergers, and acquisitions.
For instance
As per sources, the industry has been categorized into Dry and Liquid.
As per application, the industry has been categorized into Food Products, Beverages, Dietary Supplements, Nutraceuticals, Animal Feed, Cosmetics and Personal Care, Pharmaceuticals, and Others.
This segment is further categorized into Emulsification, Solubility, Water Binding, Foaming, Thickening Agent, and Others.
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
The global industry is estimated at a value of USD 1,300 million in 2024.
Sales increased at 9.2% CAGR between 2019 and 2023.
Some of the leaders in this industry include ADM, Cargill Inc., DuPont Nutrition & Biosciences, Kerry Group, CHS Inc., Bunge Limited, Wilmar International, Farbest Brands, The Scoular Company, Sotexpro, Burcon NutraScience Corporation, Now Foods, Glanbia Nutritionals, Prinova Group LLC, Sonic Biochem, Medix Laboratories, Chaitanya Chemicals, Bioway (Xi'an) Organic Ingredients Co., Ltd., Batory Foods, Emsland Group, Grain Processing Corporation, Global Bio-Chem Technology Group Co., Ltd., A. Cost
China is projected to hold a revenue share of 15.6% over the forecast period.
The industry is projected to grow at a forecast CAGR of 9.8% from 2024 to 2034.
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