Latin America Soy Protein Ingredients Market

Latin America Soy Protein Ingredients Market Size (2024 to 2029)

The size of the Latin America Soy Protein Ingredients market is estimated to reach USD 0.95 billion by 2029 from USD 0.64 billion in 2024, growing at a CAGR of 8.22% from 2024 to 2029.

MARKET OVERVIEW

Soy protein is obtained from soybeans after the extraction of oil. Soy Protein is used for the fortification of many food products and as an alternative to dairy protein. It is extensively used as a meat extender and as a quality substitute for meat. This legume is one of the few plant proteins that contains all eight essential amino acids. High functional properties of the soy protein ingredient coupled with eco-friendly and natural health benefits are driving the demand of soy protein during the forecast period. Moreover, it is more cost-effective than animal protein and reflects the same protein content. This is expected to enhance the adoption of soy protein across various end-use industries resulting in increasing the shelf life of processed food, so it is also considered as the most sustainable protein ingredient. This in turn boosts the market. However, the allergic nature of soy protein ingredients is restraining its growth during the forecast period. Moreover, the negative impact of genetically modified (GM) soy coupled with the availability of various alternatives such as milk proteins, pea proteins, and other animal proteins are also affecting the growth of soy protein ingredients in the forecast period.

This research report on the Latin America Soy Protein Ingredients market has been segmented and sub-segmented into the following categories.

Latin America Soy Protein Ingredients Market By Type

• Soy protein isolates
• Soy protein concentrates
• soy flours

Latin America Soy Protein Ingredients Market By Application

• Bakery and confectionery
• meat alternatives
• functional foods
• dairy replacement
• infant foods 

Latin America Soy Protein Ingredients Market By Country

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Moreover, in Latin America, Brazil is expected to be the major contributor in terms of revenue followed by Mexico.

KEY MARKET PLAYERS

The major key players in this market are Archer Daniels Midland (ADM) Company, Dean Foods Company, Armor Proteins, Gelita Group, Bunge Alimentos SA, Kerry Ingredients Inc, Burcon NutraScience, Cargill Health & Food Technologies, E. I. du Pont de Nemours and Company, Kellogg Company, Doves Farm Foods, Kraft Foods Group Inc., Manildra Group, MGP Ingredients, Omega Protein Corporation, George Weston Foods, and others.