Soy Protein Market Worth USD 14.9 Bn by 2034 at 5.4% CAGR

Overview

New York, NY – June 05, 2025 – The Global Soy Protein Market is growing fast, driven by rising demand for plant-based protein as people become more health-conscious and shift toward vegan diets. In 2024, the market was valued at USD 8.8 billion, and it is expected to reach USD 14.9 billion by 2034, growing at a 5.4% CAGR.

In 2024, Soy Protein Isolate led the Soy Protein market with a commanding 44.9% share. Its high protein content and low-fat profile have fueled its popularity among health-conscious consumers, particularly in nutritional supplements, protein bars, and sports nutrition products. Powder dominated the Soy Protein market, holding a 74.6% share. Its versatility in formulations for shakes, smoothies, and meal replacements has driven demand, particularly among health-conscious consumers and those adopting vegan or plant-based diets.

Conventional Soy Protein captured a 72.4% share of the market, driven by its cost-effectiveness and widespread availability. The Food and Beverages segment held a 65.3% share of the Soy Protein market. The incorporation of soy protein in dairy alternatives, meat substitutes, and functional foods has driven significant demand, catering to health-conscious consumers and plant-based diet enthusiasts.

Key Takeaways

• Soy Protein Market size is expected to be worth around USD 14.9 billion by 2034, from USD 8.8 billion in 2024, growing at a CAGR of 5.4%.
• Isolate held a dominant market position, capturing more than a 44.9% share in the Soy Protein market.
• Powder held a dominant market position, capturing more than a 74.6% share in the Soy Protein market.
• Conventional held a dominant market position, capturing more than a 72.4% share in the Soy Protein market.
• Food and Beverages held a dominant market position, capturing more than a 65.3% share in the Soy Protein market.
• Supermarkets/Hypermarkets held a dominant market position, capturing more than a 73.9% share in the Soy Protein market.
• North America held a dominant position in the global soy protein market, capturing 47.3% of the market share, equivalent to a valuation of approximately USD 4.1 billion.

How Growth is Impacting the Economy

• The Soy Protein Market’s growth significantly impacts the global economy by fostering job creation, agricultural development, and innovation. India’s soybean production supports rural economies through farming and processing jobs. The market’s expansion drives investments, like ADM’s facility upgrade in Illinois, enhancing production and export capacities. This growth fuels trade, with India’s soy protein exports strengthening global supply chains.
• Rising demand for plant-based proteins creates opportunities for food manufacturers, reducing reliance on costly animal-based proteins, while sustainable practices lower environmental costs, benefiting long-term economic stability. However, price volatility in soybeans could challenge profitability, requiring strategic supply chain management to sustain economic gains.

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Strategies for Businesses

• Businesses in the soy protein market should focus on innovation, sustainability, and market expansion. Investing in R&D for non-GMO and organic soy products can attract health-conscious consumers. Strategic partnerships with regional distributors, as seen with Cargill’s plant-based product launches, enhance market reach. Leveraging e-commerce platforms can boost sales, given the rising online retail trends.
• Adopting sustainable sourcing and eco-friendly processing, like ADM’s initiatives, aligns with consumer demand for clean-label products. Additionally, targeting emerging markets like Asia-Pacific, with its growing vegan population, ensures long-term growth. Diversifying product applications in nutraceuticals and animal feed can further strengthen the market position.

Soy Protein Statistics

Nutritional Profile and Composition of Soy Products

• 2 tbsp of organic whole food soya protein (PVL) contains 110 Calories, with a macronutrient breakdown of 25% carbs, 39% fat, and 36% protein.
• Organic whole food soya protein (PVL) is a good source of protein (18% of Daily Value), fiber (18% of Daily Value), and potassium (12% of Daily Value).
• The protein content of soybeans ranges from 36% to 56% of the dry weight.
• The fat content of soybeans is approximately 18% of the dry weight, mainly polyunsaturated and monounsaturated fatty acids, with small amounts of saturated fat.
• Nutrela Soya Chunks contain 52% Dhaakad Protein, equivalent to the protein in 16 bowls of cooked daal, 17 boiled eggs, or 18 glasses of cow’s milk.
• Textured Vegetable Protein (TVP), when dry, can contain up to 50% protein, but when rehydrated at a 2:1 ratio, the protein content drops to approximately 16%, similar to ground meat.

Industry and Product Applications

• Nutrela Soya Chunks are available in packs of 50g, 80g, 220g, and 1 kg, with reasonable pricing to suit different family needs.
• The majority of soybeans are crushed into oil and soybean meal, with approximately 75% of global soybean meal used as feed for pigs or poultry.
• Only about 3% of soy protein is used in human food today.
• TVP can be made from soy flour or concentrate, containing 50% and 70% soy protein, respectively, and has a mild beany flavor.
• Measured levels of residual hexane in TVP are around 20 parts per million, with studies suggesting 5 g/kg as the minimum dose for undesirable effects in rodents.
• The U.S. soybean industry has grown from 5,000,000 bushels 50 years ago to an expected 1.5 billion bushels this year.

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Report Scope

Key Market Segments

By Type

• In 2024, Soy Protein Isolate led the Soy Protein market with a commanding 44.9% share. Its high protein content and low-fat profile have fueled its popularity among health-conscious consumers, particularly in nutritional supplements, protein bars, and sports nutrition products. The growing use of isolates in dairy alternatives and meat analogs has further strengthened its market dominance. With increasing awareness of plant-based nutrition and ongoing advancements in food processing, this segment is poised to retain its leadership in 2025, supported by expanding product offerings.

By Form

• In 2024, Powder dominated the Soy Protein market, holding a 74.6% share. Its versatility in formulations for shakes, smoothies, and meal replacements has driven demand, particularly among health-conscious consumers and those adopting vegan or plant-based diets. The rise in popularity of sports nutrition and functional foods has further boosted this segment. With the continued focus on protein-rich diets, the powder form is expected to maintain its leading position in 2025, driven by product innovation and broader distribution channels.

By Nature

• In 2024, Conventional Soy Protein captured a 72.4% share of the market, driven by its cost-effectiveness and widespread availability. Its extensive use in processed foods, beverages, and nutritional supplements has solidified its position, especially among price-sensitive consumers in emerging markets. The affordability of conventional soy protein continues to drive its adoption. In 2025, this segment is expected to remain dominant, fueled by growing demand in cost-conscious markets and mass-market food applications.

By End User

• In 2024, the Food and Beverages segment held a 65.3% share of the Soy Protein market. The incorporation of soy protein in dairy alternatives, meat substitutes, and functional foods has driven significant demand, catering to health-conscious consumers and plant-based diet enthusiasts. Manufacturers are leveraging soy protein’s nutritional benefits to develop high-protein snacks, beverages, and ready-to-eat meals. With the ongoing trend of protein fortification in processed foods, this segment is expected to maintain its dominance.

Regional Analysis

• In 2024, North America led the global Soy Protein market with a 47.3% share, valued at approximately USD 4.1 billion, with the United States contributing about 84% of the regional market. The U.S. market is driven by its strong food and beverage industry, particularly in meat and dairy alternatives, which account for roughly half of the market share.
• Soy protein isolates were the leading type in North America, holding a 44% share in 2024 due to their versatility in applications like meat alternatives, dairy substitutes, and nutritional supplements. The food and beverages segment dominated with a 53% share, with meat alternatives alone comprising nearly 46% of this category, fueled by rising demand for plant-based and sustainable protein sources.
• Canada, a major global soy producer, sees strong demand in its food and beverage sector, driven by a growing flexitarian population and plant-protein industry. Mexico is experiencing rapid growth, with a projected CAGR of around 7% from 2024 to 2029, propelled by innovations in meat alternatives and increasing consumer interest in sustainable, healthy protein options.

Recent Developments

1. Archer Daniels Midland Company (ADM)

• ADM has expanded its plant-based protein portfolio by launching ProFam 580, a non-GMO soy protein isolate for meat and dairy alternatives. The company is also investing in fermentation technology to enhance soy protein functionality. ADM’s innovation focuses on improving texture and flavor in plant-based foods.

2. Bunge Limited

• Bunge partnered with Crop Energies AG to produce non-GMO soy protein concentrates in Europe, targeting the growing demand for sustainable plant proteins. The company is also optimizing its soy processing to reduce carbon emissions, aligning with global sustainability goals.

3. Cargill Incorporated

• Cargill launched ProSilience, a fermented soy protein for gut health and nutrition. The company is expanding its soy protein capacity in Brazil to meet rising global demand. Cargill also collaborates with food brands to develop clean-label soy-based products.

4. CHS Inc

• CHS is investing in soy protein extraction technology to improve yield and purity. The company supplies high-quality soy protein for animal feed and human nutrition, focusing on sustainable sourcing from U.S. farmers.

5. Costantino & C. spa

• This Italian firm specializes in textured soy protein (TSP) for meat analogs. Recently, it introduced a new high-moisture extrusion line to improve the meat-like texture of soy-based products, catering to European plant-based food brands.

Conclusion

In 2024, The Soy Protein Market showed strong growth, driven by rising demand for healthy, plant-based foods. Soy protein isolates and powders led the market due to their high protein content and versatility in products like nutritional supplements, dairy alternatives, and meat substitutes. The food and beverage sector, especially in North America, remained the largest user of soy protein, fueled by consumer interest in sustainable and health-focused diets. The market is expected to keep growing as companies innovate with new products and expand into emerging markets where affordability and nutrition are key drivers.

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