North America Soy Protein Ingredients Market

North America Soy Protein Ingredients Market Size, Share, Growth (2023-2028)

North America Soy Protein Ingredients Market was worth USD 2.48 billion in 2023 and is estimated to be growing at a CAGR of 7.1%, to reach USD 3.5 billion by 2028

North America Soy Protein Ingredients 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 protein 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 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 ingredients. 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.

North America Soy Protein Ingredients Market Segmentation

The market for Soy Protein Ingredients is broadly categorized

• type

• application

By type

• Soy protein isolates

• Soy protein concentrates

• soy flours

By application

• Bakery

• confectionery

• meat alternatives

• functional foods

• dairy replacement

• infant foods

On the basis of geography

• U.S.A

• Canada

Keyplayers

1. Archer Daniels Midland (ADM) Company

2. Dean Foods Company

3. Armor Proteins

4. Gelita Group

5. Bunge Alimentos SA

6. Kerry Ingredients Inc.

7. Burcon NutraScience

8. Cargill Health & Food Technologies

9. E. I. du Pont de Nemours and Company

10. Kellogg Company

11. Doves Farm Foods

12. Kraft Foods Group Inc.

13. Manildra Group

14. MGP Ingredients

15. Omega Protein Corporation

16. George Weston Foods