Asia-Pacific Soy Protein Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 2.59 Billion |
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Market Size (2029) | USD 3.46 Billion |
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Largest Share by End User | Animal Feed |
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CAGR (2024 - 2029) | 6.00 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Soy Protein Market Analysis
The Asia-Pacific Soy Protein Market size is estimated at 2.59 billion USD in 2024, and is expected to reach 3.46 billion USD by 2029, growing at a CAGR of 6.00% during the forecast period (2024-2029).
2.59 Billion
Market Size in 2024 (USD)
3.46 Billion
Market Size in 2029 (USD)
5.26 %
CAGR (2017-2023)
6.00 %
CAGR (2024-2029)
Largest Market by Form
49.38 %
value share, Concentrates, 2023
High protein digestibility and optimal nutritional value make SPC an ideal protein source for animal feed. SPC is cheaper than isolates, thereby driving its usage.
Largest Market by End User
53.31 %
value share, Animal Feed, 2023
Soy proteins are widely used in the animal feed sector in the country, owing to their distinct benefits, such as protein digestibility and apt amino acid profile.
Fastest Growing Market by Form
6.95 %
Projected CAGR, Textured/Hydrolyzed, 2024-2029
Hydrolyzed soy proteins have major applications in the animal feed industry, followed by F&B. Constant research in the segment is projected to boost the segment.
Fastest Growing Market by End User
6.62 %
Projected CAGR, Animal Feed, 2024-2029
Soy proteins are widely gaining application in the animal feed sector, including feed for fish, pets, and poultry, mainly as alternatives to the meat or dairy ingredients.
Leading Market Player
10.28 %
market share, International Flavors & Fragrances, Inc., Inc.
International Flavors & Fragrances Inc. is constantly developing new soy proteins with differentiated product portfolios, which is the most important factor in the company's success.
F&B and animal feed together major share in usage of soy protein due to high nutritional properties associated with soy protein
- Asia-Pacific has an established market for soy protein, as it is one of the most accepted traditional foods by consumers in the region. Soy protein has increased functionalities in different foods as a protein ingredient and flavor enhancer, which majorly drives its applications in various end-user segments. Soy protein is predominantly used in the animal feed sector, followed by the food and beverage sector.
- In animal feed, soy protein is primarily used as a dairy substitute and fishmeal for its functionalities, including high protein digestibility, cheaper price point, low anti-nutritional content, and longer shelf life. Accordingly, the animal feed segment is projected to register the fastest CAGR of 6.23% during the forecast period. Soy protein is also extensively used in pet food because of its easy digestibility. Many dogs need to follow a hypoallergenic diet because of allergies to chicken, beef, and other animal protein sources. Soy is a common pet food, and it can help alleviate symptoms. Soy is a protein-rich meat substitute because it is also high in dietary fiber, vitamins, and minerals. Half a cup of cooked textured soy protein has 11 grams of protein.
- In the F&B segment, soy protein is mainly used in meat and dairy alternative products. The meat and meat alternatives and dairy and dairy alternatives sub-segments accounted for 46.24% and 36.72% volume shares of the F&B segment, respectively. With high levels of protein and other nutrients, soybeans are a powerful legume that can easily replace meat and is the main driver for the application segment, along with easy-digestibility and meat-like texture. Soy-fortified milk also observed high demand because of comparable protein, calcium, vitamins A and D, and B vitamins content to cow's milk.
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China accounted holds significant share in consumption of soy protein due to high production capacity
- China is the largest consumer of soy protein in the region, attributed to high production capacity that reduces the ingredient's price and boosts its consumption volume. About 70% of the world’s supply of soy protein isolate, a primary ingredient in many plant-based foods, is processed in the Shandong Province in China. It also enables innovations across plant-based products, attracting more consumers to try differentiated product offerings. Soy protein also serves as an alternative to animal-derived meals and provides numerous functionalities, like high digestibility and low levels of anti-nutritional factors.
- Due to constant product developments and consumers' growing demand for vegan food, China is predicted to record the fastest CAGR volume of 8.11% during the forecast period. Around 200 alternative plant-based ingredients are used across soy protein startups in India. India's soy protein market was driven by the high demand from the food and beverage and animal feed sectors, which recorded volume shares of 56.68% and 43.09%, respectively, in 2022. With government bodies and food authorities, such as FSSAI, promoting the consumption of soy protein, its demand is expected to increase further.
- Indonesia holds a significant market share in the soy market, which is projected to register a CAGR value of 2.22% during the forecast period. The government has been working hard to increase soybean production in order to achieve self-sufficiency through programs like Gema Palagung, Bangkit Kedelai, and Farmer’s School for Integrated Crop Management/FSICM for soybean due to the rising demand for protein-rich products. Consumers' interest in soy protein sources has grown significantly due to wellness trends and awareness about nutrition in daily diets.
Asia-Pacific Soy Protein Market Trends
Plant protein consumption growth fuels opportunities for key players in the plant protein ingredients sector
- The data given in the graph depicts the per capita consumption of soy protein for the whole of the Asia-Pacific region. Plant proteins are highly gaining interest in the Asian market, as the awareness and proof regarding their benefits are rising in the region. Among all plant proteins, soy proteins occupy the market share with the increased acceptability of the ingredient in different foods and its increased production. The volume of soybean meal consumption in China in 2020/21 was 72.68 MMT, which was around 9% more than in 2018. High investments in research, rapid technological advancements, and advanced innovation techniques are some of the major factors resulting in the use of developed protein ingredients, including soy proteins.
- Major drivers of allergen-free plant proteins such as soy, pea, hemp, and potato may include increasing adoption of the vegetarian lifestyle, growing demand for lactose-free and gluten-free products, and growing concern about health-related problems. Around 81% of Indian consumers restrained meat from their diet in 2021. Major benefits of plant protein ingredients over animal proteins, including high nutritional value, being a good source of several vitamins and minerals, technological advancements in various food industries, and growing demand for natural and organic substitutes, are expected to change consumer preference.
- The increasing consumption of plant proteins and consumer acceptance in the region drive manufacturers to innovate products fortified with these ingredients. Major grains consumed in Japan are soybeans, rice, and wheat, along with some other types like corn and peas. The rise in plant-based protein is expected to continue to provide opportunities for food manufacturers in the upcoming years.
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India is one of the top five soybean producers in the world
- The graph given is for the production of soybeans in the Asia-pacific region. A rise in maize production in China is leading to a decline in soybean production. Domestic soybean production is about to decline by 1 MMT to 17.5 MMT due to farmers moving toward corn owing to soybean's high price. China's imports of soybeans increased by 2 million tonnes to 102 million tonnes for 2021–2022 due to a slight increase in feed demand. In addition, China's swine fever outbreak recovery resulted in increased use of soybean meal for feed during the period. Increasing soybean crushing is expected to constrain vegetable oil imports over the forecast period.
- India is one of the top five soybean producers in the world. In 2020, soybean production in India decreased by 8.09% over a decade, primarily due to the lower yield obtained from states like Madhya Pradesh, which is considered the primary soybean-growing state and has had excessive rainfall registered in recent years. The regular rainfall during harvesting and disease attacks severely affected the crop and led to low yields.
- Soybean is the most planted legume in Japan in terms of acreage (141,800 ha). Most soybeans are cultivated for dry seeds. To prevent the overproduction of rice, the Japanese government recommends the cultivation of soybean instead of rice. Hence, soybeans are commonly seen in Japanese paddy fields. The production volume of soybeans increased to over 7,600 tons in 2020 compared to 2018. About a few decades ago, Japanese farmers usually planted soybeans on a small scale, and seeding and harvesting were performed manually. But with technological improvements, the mechanization of soybean cultivation became more widespread at production sites, encouraging the cultivation scale of soybean to increase.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Changing lifestyles with increasing number of working women is boosting the market
- Market competitiveness is boosting the growth
- Sauces segment to maintain lion's share in the APAC market
- Soaring demand for plant-based dairy products within APAC countries
- APAC's growing appetite for plant-based meats to boost demand
- Healthy snacking is likely to impel the market
- Increase in demand for ruminant feed
- Rising consumption of bakery goods as a meal is driving the industry
- Increased consumer preference for convenient breakfast cereal products
- Premium confectionery is a current market trend
- Increase in elderly population to drive demand
- Increasing developments spiking the segmental sales
- Increasing number of health and fitness centers is driving the market
- Increasing demand for natural/organic beauty and personal care products
Asia-Pacific Soy Protein Industry Overview
The Asia-Pacific Soy Protein Market is fragmented, with the top five companies occupying 20.62%. The major players in this market are Archer Daniels Midland Company, Bunge Limited, Fuji Oil Group, International Flavors & Fragrances, Inc. and Kerry Group PLC (sorted alphabetically).
Asia-Pacific Soy Protein Market Leaders
Archer Daniels Midland Company
Bunge Limited
Fuji Oil Group
International Flavors & Fragrances, Inc.
Kerry Group PLC
Other important companies include CHS Inc., Foodchem International Corporation, Shandong Yuwang Industrial Co. Ltd, Wilmar International Ltd.
*Disclaimer: Major Players sorted in alphabetical order.
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Asia-Pacific Soy Protein Market News
- July 2020: DuPont Nutrition & Biosciences (DuPont), a subsidiary of IFF, offers the industry's broadest assortment of ingredients for plant-based product development with the new Danisco Planit range. Danisco Planit is a global launch that includes services, expertise, and an unparalleled ingredient portfolio for plant-based food and beverages, including plant proteins, hydrocolloids, cultures, probiotics, fibers, food protection, antioxidants, natural extracts, emulsifiers, and enzymes, as well as tailor-made systems.
- March 2019: DuPont launched new soy-based Protein Nuggets under the brand SUPRO. The 90% protein nugget product range was aimed to broaden the company's range of plant protein options that drive high protein content and unique textures.
- January 2019: Fuji Oil Holdings Inc. constructed a new plant for soy processing food on the grounds of its Chiba Plant (located in the city of Chiba, Chiba Prefecture, Japan) with an investment of JPY 2.4 billion. With the new plant having a production capacity of 9,000 ton per year and a building floor of 1,456 square meters, the company plans to develop new markets for the future.
Free with this Report
We provide a comprehensive and exhaustive set of data pointers for global, regional, and country-level metrics that illustrate the fundamentals of the protein industry. With the help of 45+ free charts, clients can access in-depth market analysis based on per capita consumption of animal and plant protein, end-user market volume, and production data of raw materials for protein ingredients, through granular-level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on protein sources, protein types, forms, end-user segments, etc., are available in the form of comprehensive reports as well as Excel-based data worksheets.
Asia-Pacific Soy Protein Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. INTRODUCTION
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. KEY INDUSTRY TRENDS
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3.1 End User Market Volume
- 3.1.1 Baby Food and Infant Formula
- 3.1.2 Bakery
- 3.1.3 Beverages
- 3.1.4 Breakfast Cereals
- 3.1.5 Condiments/Sauces
- 3.1.6 Confectionery
- 3.1.7 Dairy and Dairy Alternative Products
- 3.1.8 Elderly Nutrition and Medical Nutrition
- 3.1.9 Meat/Poultry/Seafood and Meat Alternative Products
- 3.1.10 RTE/RTC Food Products
- 3.1.11 Snacks
- 3.1.12 Sport/Performance Nutrition
- 3.1.13 Animal Feed
- 3.1.14 Personal Care and Cosmetics
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3.2 Protein Consumption Trends
- 3.2.1 Plant
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3.3 Production Trends
- 3.3.1 Plant
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3.4 Regulatory Framework
- 3.4.1 Australia
- 3.4.2 China
- 3.4.3 India
- 3.4.4 Japan
- 3.5 Value Chain & Distribution Channel Analysis
4. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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4.1 Form
- 4.1.1 Concentrates
- 4.1.2 Isolates
- 4.1.3 Textured/Hydrolyzed
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4.2 End User
- 4.2.1 Animal Feed
- 4.2.2 Food and Beverages
- 4.2.2.1 By Sub End User
- 4.2.2.1.1 Bakery
- 4.2.2.1.2 Beverages
- 4.2.2.1.3 Breakfast Cereals
- 4.2.2.1.4 Condiments/Sauces
- 4.2.2.1.5 Dairy and Dairy Alternative Products
- 4.2.2.1.6 Meat/Poultry/Seafood and Meat Alternative Products
- 4.2.2.1.7 RTE/RTC Food Products
- 4.2.2.1.8 Snacks
- 4.2.3 Personal Care and Cosmetics
- 4.2.4 Supplements
- 4.2.4.1 By Sub End User
- 4.2.4.1.1 Baby Food and Infant Formula
- 4.2.4.1.2 Elderly Nutrition and Medical Nutrition
- 4.2.4.1.3 Sport/Performance Nutrition
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4.3 Country
- 4.3.1 Australia
- 4.3.2 China
- 4.3.3 India
- 4.3.4 Indonesia
- 4.3.5 Japan
- 4.3.6 Malaysia
- 4.3.7 New Zealand
- 4.3.8 South Korea
- 4.3.9 Thailand
- 4.3.10 Vietnam
- 4.3.11 Rest of Asia-Pacific
5. COMPETITIVE LANDSCAPE
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Landscape
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5.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 5.4.1 Archer Daniels Midland Company
- 5.4.2 Bunge Limited
- 5.4.3 CHS Inc.
- 5.4.4 Foodchem International Corporation
- 5.4.5 Fuji Oil Group
- 5.4.6 International Flavors & Fragrances, Inc.
- 5.4.7 Kerry Group PLC
- 5.4.8 Shandong Yuwang Industrial Co. Ltd
- 5.4.9 Wilmar International Ltd
6. KEY STRATEGIC QUESTIONS FOR PROTEIN INGREDIENTS INDUSTRY CEOS
7. APPENDIX
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7.1 Global Overview
- 7.1.1 Overview
- 7.1.2 Porter’s Five Forces Framework
- 7.1.3 Global Value Chain Analysis
- 7.1.4 Market Dynamics (DROs)
- 7.2 Sources & References
- 7.3 List of Tables & Figures
- 7.4 Primary Insights
- 7.5 Data Pack
- 7.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- VOLUME OF BABY FOOD AND INFANT FORMULA MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 2:
- VOLUME OF BAKERY MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 3:
- VOLUME OF BEVERAGES MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 4:
- VOLUME OF BREAKFAST CEREALS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- VOLUME OF CONDIMENTS/SAUCES MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- VOLUME OF CONFECTIONERY MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 7:
- VOLUME OF DAIRY AND DAIRY ALTERNATIVE PRODUCTS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 8:
- VOLUME OF ELDERLY NUTRITION AND MEDICAL NUTRITION MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 9:
- VOLUME OF MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 10:
- VOLUME OF RTE/RTC FOOD PRODUCTS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 11:
- VOLUME OF SNACKS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 12:
- VOLUME OF SPORT/PERFORMANCE NUTRITION MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 13:
- VOLUME OF ANIMAL FEED MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 14:
- VOLUME OF PERSONAL CARE AND COSMETICS MARKET, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 15:
- AVERAGE PER CAPITA CONSUMPTION OF PLANT PROTEIN, GRAM PER DAY, ASIA-PACIFIC, 2017 - 2029
- Figure 16:
- SOYBEAN PRODUCTION, METRIC TON, ASIA-PACIFIC, 2017 - 2022
- Figure 17:
- VOLUME OF SOY PROTEIN MARKET, TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE OF SOY PROTEIN MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 19:
- VOLUME OF SOY PROTEIN MARKET BY FORM, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 20:
- VALUE OF SOY PROTEIN MARKET BY FORM, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 22:
- VOLUME SHARE OF SOY PROTEIN MARKET BY FORM, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 23:
- VOLUME OF SOY PROTEIN MARKET, CONCENTRATES, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 24:
- VALUE OF SOY PROTEIN MARKET, CONCENTRATES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 25:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % CONCENTRATES , ASIA-PACIFIC, 2022 VS 2029
- Figure 26:
- VOLUME OF SOY PROTEIN MARKET, ISOLATES, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VALUE OF SOY PROTEIN MARKET, ISOLATES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 28:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % ISOLATES , ASIA-PACIFIC, 2022 VS 2029
- Figure 29:
- VOLUME OF SOY PROTEIN MARKET, TEXTURED/HYDROLYZED, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 30:
- VALUE OF SOY PROTEIN MARKET, TEXTURED/HYDROLYZED, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 31:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % TEXTURED/HYDROLYZED , ASIA-PACIFIC, 2022 VS 2029
- Figure 32:
- VOLUME OF SOY PROTEIN MARKET BY END USER, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 33:
- VALUE OF SOY PROTEIN MARKET BY END USER, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 34:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 35:
- VOLUME SHARE OF SOY PROTEIN MARKET BY END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 36:
- VOLUME OF SOY PROTEIN MARKET, ANIMAL FEED, ASIA-PACIFIC, 2017 - 2029
- Figure 37:
- VALUE OF SOY PROTEIN MARKET, ANIMAL FEED, ASIA-PACIFIC, 2017 - 2029
- Figure 38:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % ANIMAL FEED , ASIA-PACIFIC, 2022 VS 2029
- Figure 39:
- VOLUME OF SOY PROTEIN MARKET, FOOD AND BEVERAGES END USER, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 40:
- VALUE OF SOY PROTEIN MARKET, FOOD AND BEVERAGES END USER, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 41:
- VALUE SHARE OF SOY PROTEIN MARKET BY FOOD AND BEVERAGES END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 42:
- VOLUME SHARE OF SOY PROTEIN MARKET BY FOOD AND BEVERAGES END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 43:
- VOLUME OF SOY PROTEIN MARKET, BAKERY, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 44:
- VALUE OF SOY PROTEIN MARKET, BAKERY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 45:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BAKERY , ASIA-PACIFIC, 2022 VS 2029
- Figure 46:
- VOLUME OF SOY PROTEIN MARKET, BEVERAGES, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 47:
- VALUE OF SOY PROTEIN MARKET, BEVERAGES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 48:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BEVERAGES , ASIA-PACIFIC, 2022 VS 2029
- Figure 49:
- VOLUME OF SOY PROTEIN MARKET, BREAKFAST CEREALS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 50:
- VALUE OF SOY PROTEIN MARKET, BREAKFAST CEREALS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 51:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BREAKFAST CEREALS , ASIA-PACIFIC, 2022 VS 2029
- Figure 52:
- VOLUME OF SOY PROTEIN MARKET, CONDIMENTS/SAUCES, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 53:
- VALUE OF SOY PROTEIN MARKET, CONDIMENTS/SAUCES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 54:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % CONDIMENTS/SAUCES , ASIA-PACIFIC, 2022 VS 2029
- Figure 55:
- VOLUME OF SOY PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 56:
- VALUE OF SOY PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 57:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % DAIRY AND DAIRY ALTERNATIVE PRODUCTS , ASIA-PACIFIC, 2022 VS 2029
- Figure 58:
- VOLUME OF SOY PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 59:
- VALUE OF SOY PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 60:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS , ASIA-PACIFIC, 2022 VS 2029
- Figure 61:
- VOLUME OF SOY PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 62:
- VALUE OF SOY PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 63:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % RTE/RTC FOOD PRODUCTS , ASIA-PACIFIC, 2022 VS 2029
- Figure 64:
- VOLUME OF SOY PROTEIN MARKET, SNACKS, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 65:
- VALUE OF SOY PROTEIN MARKET, SNACKS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 66:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % SNACKS , ASIA-PACIFIC, 2022 VS 2029
- Figure 67:
- VOLUME OF SOY PROTEIN MARKET, PERSONAL CARE AND COSMETICS, ASIA-PACIFIC, 2017 - 2029
- Figure 68:
- VALUE OF SOY PROTEIN MARKET, PERSONAL CARE AND COSMETICS, ASIA-PACIFIC, 2017 - 2029
- Figure 69:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % PERSONAL CARE AND COSMETICS , ASIA-PACIFIC, 2022 VS 2029
- Figure 70:
- VOLUME OF SOY PROTEIN MARKET, SUPPLEMENTS END USER, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 71:
- VALUE OF SOY PROTEIN MARKET, SUPPLEMENTS END USER, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 72:
- VALUE SHARE OF SOY PROTEIN MARKET BY SUPPLEMENTS END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 73:
- VOLUME SHARE OF SOY PROTEIN MARKET BY SUPPLEMENTS END USER, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 74:
- VOLUME OF SOY PROTEIN MARKET, BABY FOOD AND INFANT FORMULA, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 75:
- VALUE OF SOY PROTEIN MARKET, BABY FOOD AND INFANT FORMULA, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 76:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BABY FOOD AND INFANT FORMULA , ASIA-PACIFIC, 2022 VS 2029
- Figure 77:
- VOLUME OF SOY PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL NUTRITION, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 78:
- VALUE OF SOY PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL NUTRITION, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 79:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % ELDERLY NUTRITION AND MEDICAL NUTRITION , ASIA-PACIFIC, 2022 VS 2029
- Figure 80:
- VOLUME OF SOY PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 81:
- VALUE OF SOY PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 82:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % SPORT/PERFORMANCE NUTRITION , ASIA-PACIFIC, 2022 VS 2029
- Figure 83:
- VOLUME OF SOY PROTEIN MARKET BY COUNTRY, METRIC TONNES, ASIA-PACIFIC, 2017 - 2029
- Figure 84:
- VALUE OF SOY PROTEIN MARKET BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 85:
- VALUE SHARE OF SOY PROTEIN MARKET BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 86:
- VOLUME SHARE OF SOY PROTEIN MARKET BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 87:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, AUSTRALIA, 2017 - 2029
- Figure 88:
- VALUE OF SOY PROTEIN MARKET, USD, AUSTRALIA, 2017 - 2029
- Figure 89:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , AUSTRALIA, 2022 VS 2029
- Figure 90:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, CHINA, 2017 - 2029
- Figure 91:
- VALUE OF SOY PROTEIN MARKET, USD, CHINA, 2017 - 2029
- Figure 92:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , CHINA, 2022 VS 2029
- Figure 93:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, INDIA, 2017 - 2029
- Figure 94:
- VALUE OF SOY PROTEIN MARKET, USD, INDIA, 2017 - 2029
- Figure 95:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , INDIA, 2022 VS 2029
- Figure 96:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, INDONESIA, 2017 - 2029
- Figure 97:
- VALUE OF SOY PROTEIN MARKET, USD, INDONESIA, 2017 - 2029
- Figure 98:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , INDONESIA, 2022 VS 2029
- Figure 99:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, JAPAN, 2017 - 2029
- Figure 100:
- VALUE OF SOY PROTEIN MARKET, USD, JAPAN, 2017 - 2029
- Figure 101:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , JAPAN, 2022 VS 2029
- Figure 102:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, MALAYSIA, 2017 - 2029
- Figure 103:
- VALUE OF SOY PROTEIN MARKET, USD, MALAYSIA, 2017 - 2029
- Figure 104:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , MALAYSIA, 2022 VS 2029
- Figure 105:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, NEW ZEALAND, 2017 - 2029
- Figure 106:
- VALUE OF SOY PROTEIN MARKET, USD, NEW ZEALAND, 2017 - 2029
- Figure 107:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , NEW ZEALAND, 2022 VS 2029
- Figure 108:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, SOUTH KOREA, 2017 - 2029
- Figure 109:
- VALUE OF SOY PROTEIN MARKET, USD, SOUTH KOREA, 2017 - 2029
- Figure 110:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , SOUTH KOREA, 2022 VS 2029
- Figure 111:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, THAILAND, 2017 - 2029
- Figure 112:
- VALUE OF SOY PROTEIN MARKET, USD, THAILAND, 2017 - 2029
- Figure 113:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , THAILAND, 2022 VS 2029
- Figure 114:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, VIETNAM, 2017 - 2029
- Figure 115:
- VALUE OF SOY PROTEIN MARKET, USD, VIETNAM, 2017 - 2029
- Figure 116:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , VIETNAM, 2022 VS 2029
- Figure 117:
- VOLUME OF SOY PROTEIN MARKET, METRIC TONNES, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 118:
- VALUE OF SOY PROTEIN MARKET, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 119:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % , REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 120:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, ASIA-PACIFIC SOY PROTEIN MARKET, 2017 - 2022
- Figure 121:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2017 - 2022
- Figure 122:
- VALUE SHARE OF MAJOR PLAYERS, %, ASIA-PACIFIC SOY PROTEIN MARKET, 2021
Asia-Pacific Soy Protein Industry Segmentation
Concentrates, Isolates, Textured/Hydrolyzed are covered as segments by Form. Animal Feed, Food and Beverages, Personal Care and Cosmetics, Supplements are covered as segments by End User. Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, South Korea, Thailand, Vietnam are covered as segments by Country.
- Asia-Pacific has an established market for soy protein, as it is one of the most accepted traditional foods by consumers in the region. Soy protein has increased functionalities in different foods as a protein ingredient and flavor enhancer, which majorly drives its applications in various end-user segments. Soy protein is predominantly used in the animal feed sector, followed by the food and beverage sector.
- In animal feed, soy protein is primarily used as a dairy substitute and fishmeal for its functionalities, including high protein digestibility, cheaper price point, low anti-nutritional content, and longer shelf life. Accordingly, the animal feed segment is projected to register the fastest CAGR of 6.23% during the forecast period. Soy protein is also extensively used in pet food because of its easy digestibility. Many dogs need to follow a hypoallergenic diet because of allergies to chicken, beef, and other animal protein sources. Soy is a common pet food, and it can help alleviate symptoms. Soy is a protein-rich meat substitute because it is also high in dietary fiber, vitamins, and minerals. Half a cup of cooked textured soy protein has 11 grams of protein.
- In the F&B segment, soy protein is mainly used in meat and dairy alternative products. The meat and meat alternatives and dairy and dairy alternatives sub-segments accounted for 46.24% and 36.72% volume shares of the F&B segment, respectively. With high levels of protein and other nutrients, soybeans are a powerful legume that can easily replace meat and is the main driver for the application segment, along with easy-digestibility and meat-like texture. Soy-fortified milk also observed high demand because of comparable protein, calcium, vitamins A and D, and B vitamins content to cow's milk.
| Form | Concentrates | ||
| Isolates | |||
| Textured/Hydrolyzed | |||
| End User | Animal Feed | ||
| Food and Beverages | By Sub End User | Bakery | |
| Beverages | |||
| Breakfast Cereals | |||
| Condiments/Sauces | |||
| Dairy and Dairy Alternative Products | |||
| Meat/Poultry/Seafood and Meat Alternative Products | |||
| RTE/RTC Food Products | |||
| Snacks | |||
| Personal Care and Cosmetics | |||
| Supplements | By Sub End User | Baby Food and Infant Formula | |
| Elderly Nutrition and Medical Nutrition | |||
| Sport/Performance Nutrition | |||
| Country | Australia | ||
| China | |||
| India | |||
| Indonesia | |||
| Japan | |||
| Malaysia | |||
| New Zealand | |||
| South Korea | |||
| Thailand | |||
| Vietnam | |||
| Rest of Asia-Pacific |
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Market Definition
- End User - The Protein Ingredients Market operates on a B2B basis. Food, Beverages, Supplements, Animal Feed, and Personal Care & Cosmetic manufacturers are considered to be end-consumers in the market studied. The scope excludes manufacturers buying liquid/dry whey to be used for application as a binding agent or thickener or other non-protein applications.
- Penetration Rate - Penetration Rate is defined as the percentage of Protein-Fortified End User Market Volume in the Overall End User Market Volume.
- Average Protein Content - Average protein content is the average protein content present per 100 g of product manufactured by all end-user companies considered under the scope of this report.
- End User Market Volume - End-user market volume is the consolidated volume of all types and forms of end-user products in the country or region.
| Keyword | Definition |
|---|---|
| Alpha-lactalbumin (α-Lactalbumin) | It is a protein that regulates the production of lactose in the milk of almost all mammalian species. |
| Amino acid | It is an organic compound that contains both amino and carboxylic acid functional groups, which are required for the synthesis of body protein and other important nitrogen-containing compounds, such as creatine, peptide hormones, and some neurotransmitters. |
| Blanching | It is the process of briefly heating vegetables with steam or boiling water. |
| BRC | British Retail Consortium |
| Bread improver | It is a flour-based blend of several components with specific functional properties designed to modify dough characteristics and give quality attributes to bread. |
| BSF | Black Soldier Fly |
| Caseinate | It is a substance produced by adding an alkali to acid casein, a derivative of casein. |
| Celiac disease | Celiac disease is an immune reaction to eating gluten, a protein found in wheat, barley, and rye. |
| Colostrum | It is a milky fluid that’s released by mammals that have recently given birth before breast milk production begins. |
| Concentrate | It is the least processed form of protein and has a protein content ranging from 40-90% by weight. |
| Dry protein basis | It refers to the percentage of "pure protein" present in a supplement after the water in it is completely removed through heat. |
| Dry whey | It is the product resulting from drying fresh whey which has been pasteurized and to which nothing has been added as a preservative. |
| Egg protein | It is a mixture of individual proteins, including ovalbumin, ovomucoid, ovoglobulin, conalbumin, vitellin, and vitellenin. |
| Emulsifier | It is a food additive that facilitates the blending of foods that are immiscible with one another, such as oil and water. |
| Enrichment | It is the process of addition of micronutrients that are lost during the processing of the product. |
| ERS | Economic Research Service of the USDA |
| Extrusion | It is the process of forcing soft mixed ingredients through an opening in a perforated plate or die designed to produce the required shape. The extruded food is then cut to a specific size by blades. |
| Fava | Also known as Faba, it is another word for yellow split beans. |
| FDA | Food and Drug Administration |
| Flaking | It is a process in which typically a cereal grain (like corn, wheat, or rice) is broken down into grits, cooked with flavors and syrups, and then pressed into flakes between cooled rollers. |
| Foaming agent | It is a food ingredient that makes it possible to form or maintain a uniform dispersion of a gaseous phase in a liquid or solid food. |
| Foodservice | It refers to the part of the food industry which includes businesses, institutions, and companies which prepare meals outside the home. It includes restaurants, school and hospital cafeterias, catering operations, and many other formats. |
| Fortification | It is the deliberate addition of micronutrients that are not found in them naturally or which are lost during processing, to improve a food product's nutritional value. |
| FSANZ | Food Standards Australia New Zealand |
| FSIS | Food Safety and Inspection Service |
| FSSAI | Food Safety and Standards Authority of India |
| Gelling agent | It is an ingredient that functions as a stabilizer and thickener to provide thickening without stiffness through the formation of gel. |
| GHG | Greenhouse Gas |
| Gluten | It is a family of proteins found in grains, including wheat, rye, spelt, and barley. |
| Hemp | It is a botanical class of Cannabis sativa cultivars grown specifically for industrial or medicinal use. |
| Hydrolysate | It is a form of protein manufactured by exposing the protein to enzymes that can partially break the bonds between the protein's amino acids and break down large, complicated proteins into smaller pieces. Its processing makes it easier and quicker to digest. |
| Hypoallergenic | It refers to a substance that causes fewer allergic reactions. |
| Isolate | It is the purest and most processed form of protein which has undergone separation to obtain a pure protein fraction. It typically contains ≥ 90% of protein by weight. |
| Keratin | It is a protein that helps form hair, nails, and the outer layer of skin. |
| Lactalbumin | It is the albumin contained in milk and obtained from whey. |
| Lactoferrin | It is an iron‑binding glycoprotein that is present in the milk of most mammals. |
| Lupin | It is the yellow legume seeds of the genus Lupinus. |
| Millenial | Also known as Generation Y or Gen Y, it refers to the people born from 1981 to 1996. |
| Monogastric | It refers to an animal with a single-compartmented stomach. Examples of monogastric include humans, poultry, pigs, horses, rabbits, dogs, and cats. Most monogastric are generally unable to digest much cellulose food materials such as grasses. |
| MPC | Milk protein concentrate |
| MPI | Milk protein isolate |
| MSPI | Methylated soy protein isolate |
| Mycoprotein | Mycoprotein is a form of single-cell protein, also known as fungal protein, derived from fungi for human consumption. |
| Nutricosmetics | It is a category of products and ingredients that act as nutritional supplements to care for skin, nails, and hair natural beauty. |
| Osteoporosis | It is a medical condition in which the bones become brittle and fragile from loss of tissue, typically as a result of hormonal changes, or deficiency of calcium or vitamin D. |
| PDCAAS | Protein digestibility-corrected amino acid score (PDCAAS) is a method of evaluating the quality of a protein based on both the amino acid requirements of humans and their ability to digest it. |
| Per-capita consumption of animal protein | It is the average amount of animal protein (such as milk, whey, gelatin, collagen, and egg proteins) that is readily available for consumption by each person in an actual population. |
| Per-capita consumption of plant protein | It is the average amount of plant protein (such as soy, wheat, pea, oat, and hemp proteins) that is readily available for consumption by each person in an actual population. |
| Quorn | It is a microbial protein manufactured using mycoprotein as an ingredient, in which the fungus culture is dried and mixed with egg albumen or potato protein, which acts as a binder, and then is adjusted in texture and pressed into various forms. |
| Ready-to-Cook (RTC) | It refers to food products that include all of the ingredients, where some preparation or cooking is required through a process that is given on the package. |
| Ready-to-Eat (RTE) | It refers to a food product prepared or cooked in advance, with no further cooking or preparation required before being eaten. |
| RTD | Ready-to-Drink |
| RTS | Ready-to-Serve |
| Saturated fat | It is a type of fat in which the fatty acid chains have all single bonds. It is generally considered unhealthy. |
| Sausage | It is a meat product made of finely chopped and seasoned meat, which may be fresh, smoked, or pickled and which is then usually stuffed into a casing. |
| Seitan | It is a plant-based meat substitute made out of wheat gluten. |
| Softgel | It is a gelatin-based capsule with a liquid fill. |
| SPC | Soy protein concentrate |
| SPI | Soy protein isolate |
| Spirulina | It is a biomass of cyanobacteria that can be consumed by humans and animals. |
| Stabilizer | It is an ingredient added to food products to help maintain or enhance their original texture, and physical and chemical characteristics. |
| Supplementation | It is the consumption or provision of concentrated sources of nutrients or other substances that are intended to supplement nutrients in the diet and is intended to correct nutritional deficiencies. |
| Texturant | It is a specific type of food ingredient that is used to control and alter the mouthfeel and texture of food and beverage products. |
| Thickener | It is an ingredient that is used to increase the viscosity of a liquid or dough and make it thicker, without substantially changing its other properties. |
| Trans fat | Also called trans-unsaturated fatty acids or trans fatty acids, it is a type of unsaturated fat that naturally occurs in small amounts in meat. |
| TSP | Textured soy protein |
| TVP | Textured vegetable protein |
| WPC | Whey protein concentrate |
| WPI | Whey protein isolate |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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