Global Soy Protein Ingredients Market is anticipated to depict appreciable growth and record a sizeable valuation by 2030. The market growth is attributed to the increasing demand for food globally and the subsequent rise in livestock, aquaculture, and meat production.
According to the UN FAO estimates, the global demand for food may witness over 60% growth between 2010 and 2050, while dairy, aquaculture, and meat production is expected to rise by 55%, 90%, and 70%, respectively. The transition toward natural feed ingredients has gained significant momentum over the years due to growing health concerns and an accelerating inclination towards antibiotic-free meat. This, alongside the rapid integration of soy protein ingredients in compounded foods to improve their nutritional profile, will stimulate the industry revenue streams in the coming years.
The soy protein ingredients market is categorized based on product, nature, application, and region.
With respect to the product, the soy flour segment is projected to exhibit nearly 8.5% CAGR from 2022 to 2030. Soy flour is a rich source of Vitamin B and calcium and adds a pleasant flavor and texture to a range of food products while enhancing their nutritional content. Clinical studies claim that women who include soy flour in their diets post-menopause are less likely to experience hot flashes and night sweats than those who do not, creating a positive growth outlook for the soy protein ingredients market.
In terms of the nature of protein, the GMO soy protein ingredients segment is poised to garner appreciable revenues by 2030. The considerable rise in poultry and livestock farming practices is likely to boost segment growth through 2030. Besides, the favorable regulatory norms pertaining to the production and cultivation of bioengineered crops across several developed economies, such as the US, will foster product adoption in the foreseeable future.
Speaking of the application spectrum, the infant food market size is slated to surpass USD 780 million by 2030. The expanding infant population and the escalating working women trends across countries such as Canada, India, China, Australia, and the US are expected to boost the demand for infant foods. Increasing R&D investments and practices by leading manufacturing firms towards developing improved infant formulations will bring about lucrative growth to the soy protein ingredients industry.
Regionally, the Latin America soy protein ingredients market is predicted to drive revenues worth more than USD 830 million by 2030. The regional industry is fueled by the increasing consumer inclination towards healthy and nutritional food supplements. In addition, the burgeoning demand for plant-based ingredients due to their positive health impacts and rising awareness against animal cruelty will propel soy protein ingredient sales across the region.