The Global Organic Soya Protein Market Size is valued at 632.30 million in 2023 and is predicted to reach 1603.67 million by the year 2031 at an 12.37% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The growing preference of consumers for plant-based and organic products is driving the organic soya protein market.
- Growing need for foods high in protein is driving the organic soya protein market.
- North America dominated the market and accounted for a global revenue share in 2023.
- The perception of organic products being expensive compared to conventional counterparts is a challenge for organic soya protein market.
One of the finest alternatives to animal and meat proteins is soy protein. A vital component in boosting food's nutritional content and performance is protein. Increased doctor prescriptions fuel the demand for organic soy proteins for clean food and customer knowledge of the negative impacts of ingesting unhealthy foods. This market will expand during the term as customers switch more and more from meat to soy products. Customers who are low in carbohydrates and unable to eat milk and milk products also drive-up demand for these products.
Furthermore, the primary driver of the expansion of the organic soy protein industry is substituting traditional dairy and meat products with soy products. Another factor influencing the demand for organic soy protein is health-conscious consumers' growing acceptance of organic food.
In addition to witnessing unheard-of market expansion, organic soy protein competes with non-organic soya foods and other organic soybean goods like flax and sesame. Additionally, some people have allergies to soy or a lot of protein. These two criteria constrain the market for organic soy protein.
Demand for utilization in food and beverage, nutrition, and functional food applications has surged, driving the market. Due to its functional qualities, soy protein is employed more frequently as a powerful dietary ingredient in formulated foods. However, the advent of non-organic soy protein, which is even less expensive, poses a challenge to the market. This will limit the market's expansion. People are choosing prevention over treatment as they become more aware of the unfavorable effects of modern living.
Recent Developments:
- In May 2021- The major manufacturer and distributor of plant-based protein powder, NOW Health Group, embraced the direct-to-consumer model and provided soy protein isolate powder in a variety of flavours to customers. The business has utilized several direct-to-consumer (D2C) channels, such as internet shopping and specialty shops.
Competitive Landscape:
Some of the major key players in the organic soya protein market are:
- Harvest Innovations (U.S.)
- World Food Processing (U.S)
- Devansoy Inc. (U.S)
- The Scoular Company (U.S.)
- SunOpta Inc. (Canada)
- FRANK Food Products (Netherlands)
- Hodgson Mill (U.S.)
- Agrwal Oil & Biocheam (India
- Biopress S.A.S. (France)
- Natural Products, Inc. (U.S.)
Market Segmentation:
The organic soya protein market is segmented based on type, application and form. Based on type, the market is segmented as soy protein concentrates, soy protein flour, soy protein isolates and others. By application, the market is segmented into functional foods, infant formula, bakery & confectionery, meat alternatives, dairy alternatives and others (fruit drinks, soups & sauces and vegetable broths. By form, the market is segmented into dry form and liquid form.
Based An Application, The Meat Alternatives Segment Is A Major Contributor To The Organic Soya Protein Market
The meat alternatives category is expected to hold a major share of the global organic soya protein market in 2024. Due to the heavy utilization of non-renewable resources like water and land during animal protein production, the meat industry has a substantial adverse effect on the environment. Animal protein's carbon footprints significantly contribute to greenhouse gas emissions and global warming. Animal welfare advocacy groups are taking steps to raise awareness about the treatment of animals used in the manufacture of items derived from them. Due to the lack of cruelty in these goods, customer attitudes have evolved in favor of plant-based proteins like soy.
The Soya Protein Concentrates Segment Witnessed Growth At A Rapid Rate
The soya protein concentrates segment is projected to proliferate in the global organic soya protein market. This segment holds a sizable market share because of various factors, including its low cost compared to other proteins, potential health benefits, expanding demand from the livestock industry, more significant usage of soy protein concentrate in food applications, and growth in product releases. Additionally, it is anticipated that the expanding demand for soy protein concentrates from the meat and animal feed industries will fuel the expansion of this market.
The North American Organic Soya Protein Market Holds A Significant Regional Revenue Share
The North American organic soya protein market is expected to register the highest market share in revenue soon. The vast number of vegetarians, the rising knowledge of the value of eating diets high in protein, technical developments in the food and beverage sector, and the accessibility of raw materials are all factors that have been cited as contributing to this expansion. In addition, Asia Pacific is projected to proliferate in the global organic soya protein market. The population of India and China is quickly urbanizing, which has made people more health concerned and inclined toward wholesome eating habits. The quickest market for organic soy protein is Asia Pacific (excluding Japan), thanks to this inclination in these and the neighbouring nations. Organic soy protein is consistently in demand across the Middle East and Africa.
Organic Soya Protein Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 632.30 million |
|
Revenue forecast in 2031 |
USD 1603.67 million |
|
Growth rate CAGR |
CAGR of 12.37% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Type, Application and Form |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
Harvest Innovations (U.S.), World Food Processing (U.S.), Devansoy Inc. (U.S.) The Scoular Company (U.S.), and SunOpta Inc. (Canada) FRANK Food Products (Netherlands), Hodgson Mill (U.S.), Agrwal Oil & Biocheam (India), Biopress S.A.S. (France) and Natural Products, Inc. (U.S.) |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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