India Soy Protein Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 547.2 Million |
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Market Size (2029) | USD 711.6 Million |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 5.39 % |
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Fastest Growing by End User | Personal Care and Cosmetics |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India Soy Protein Market Analysis
The India Soy Protein Market size is estimated at 547.2 million USD in 2024, and is expected to reach 711.6 million USD by 2029, growing at a CAGR of 5.39% during the forecast period (2024-2029).
547.2 Million
Market Size in 2024 (USD)
711.6 Million
Market Size in 2029 (USD)
5.09 %
CAGR (2017-2023)
5.39 %
CAGR (2024-2029)
Largest Market by Form
47.64 %
value share, Isolates, 2023
Soy protein isolate is a purified form of soy protein, with a protein content of a minimum of 90% on a moisture-loose basis, driving its application in all sectors.
Largest Market by End User
57.99 %
value share, Food and Beverages, 2023
The F&B segment, closely followed by the animal feed segment, is leading the end-user segment, primarily due to the demand from the dairy and meat alternatives sub-segments.
Fastest Growing Market by Form
5.96 %
Projected CAGR, Isolates, 2024-2029
Soy protein isolates have major applications in the animal feed segment, followed by the F&B segment. Constant research in the segments is projected to increase during the forecast period.
Fastest Growing Market by End User
8.44 %
Projected CAGR, Personal Care and Cosmetics, 2024-2029
The sector holds growth opportunities for animal proteins like gelatin and collagen, mainly in nutricosmetics, as they can be used in products for sensitive skins.
Leading Market Player
4.16 %
market share, International Flavors & Fragrances Inc., 2021
The company's subsidiary, DuPont Nutrition & Biosciences, is constantly developing new soy proteins, and its differentiated product portfolio is the most important factor in its success.
Increasing preference for protein fortification and it's suitability drives the animal feed and food and beverages sector
- The F&B segment controls the majority application share of the market. It is expected to record a CAGR of 6.06%, by volume, over the forecast period. Personal care and cosmetics is expected to be the fastest-growing end-user segment during the forecast period, with a CAGR of 8.25% by volume. India has the highest number of vegetarians in Asia-Pacific, fueling the country's demand for plant-based proteins. As of 2022, 24% of Indians were strictly vegetarian, 9% were vegan, and 8% were pescatarian. The growing demand for meat alternatives and dairy alternatives, as well as the rising vegetarianism and veganism, is driving the demand for food and beverages. The growing preference for healthy, on-the-go meal options is also contributing to market expansion. In 2021, approximately 70% of Indians were willing to prioritize dietary changes to improve their overall health and immunity and reduce stress and anxiety.
- Soy protein is primarily used for meat and dairy alternative products in the F&B segment. About 44.22% of the volume share in the F&B segment was held by meat and meat alternatives and 37.04% by dairy and dairy alternatives. Soybeans are powerful legumes with high levels of protein and other nutrients that can easily replace meat. They also offer easy digestibility and meat-like texture. Soy-fortified milk is also popular since its protein, calcium, vitamins A and D, and vitamin B content is comparable to cow's milk. The main trend in the use of plant protein ingredients has been the availability of high protein content ingredients, so the emphasis has shifted to sustainable sources and the quality of the protein in the ingredients offered.
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India Soy Protein Market Trends
India has emerged as one of the major markets in plant protein consumption
- Increased production of major plant proteins like soybean, rice, pea, and wheat, is impacting the availability of protein ingredients from the sources. Although many plant products are consumed as staple foods in the region, the increased applications of these protein ingredients in developing innovative foods are further increasing the consumption of these protein ingredients. The increasing number and engagement capability of vegan influencers among the internet-savvy young generation has proven to be pivotal in the rise of the veganism trend in India. For instance, currently, India has more than 1 million vegans and vegetarians.
- Dairy was majorly dominating the country's consumption. However, with the increasing awareness of plant proteins, Indian consumers, especially younger generations, are turning toward plant protein-fortified foods. A survey in 2019 found that 63% of the surveyed Indians were willing to replace meat with plant-based options, and the country has over a billion people. To cater to the growing demand, innovative products are occupying market space, thus increasing the options for consumers. For instance, Evolved Foods introduced vegan alternatives under its Alt Meat and Alt Protein brands, seeking to replace chicken and paneer. A Dutch company, Schouten, brought its tempeh production system to India.
- The protein segment is not being adopted that well among Indian consumers. The recommended dietary allowance of protein for an average Indian adult is 0.8 to 1 gm per kg of body weight. According to an estimate, over 70% of the country's population is protein deficient. This protein deficiency could be due to a lack of awareness and inadequate consumption of protein on a regular basis.
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India is one of the top five soybean producers in the world
- Soybean is the world’s most important seed legume, being the largest source of vegetable seed oil and protein. Public and private companies are collaborating to develop various techniques and directly engaging with farmers to enhance farm incomes and increase soybean yield. In 2014, as soybean production continued to decline in Maharashtra, the State Government of Maharashtra and the Public-Private Partnership for Integrated Agriculture Development (PPPIAD) introduced new technologies in collaboration with ADM for soybean cultivation that aided farmers in increasing their yields. Soybean has turned out to be a major oilseed crop in India. The food derived from soybeans generally provides health benefits and is a cheaper source of high-quality protein. The crop has the potential to eliminate protein malnutrition prevailing in poor sections of society in the country
- Soybean is cultivated over an area of 11.00 million ha, with a production of 11.53 million ton, registering productivity of 10.45 q/ha (QE 2015-16) under Vertitsol in the rainfed ecosystem in Madhya Pradesh, Maharashtra, Rajasthan, Karnataka, Chhattisgarh, and Telangana. There are wide variations in productivity ranging from 9.5 q/ha in Karnataka and Chhattisgarh to 14.8 q/ha in Telangana, primarily due to farm-level inefficiencies. In the 2020 Kharif season, soybean cultivation took place in a 120-lakh-hectare area, with a yield of around 105 lakh tons.
- Local farmers encountered difficulties due to a lack of certified seeds and their exorbitant prices. Thus, farmers in a few states like Maharashtra and Rajasthan produced their own seeds to avoid market scarcity. The major soybean-growing states are Madhya Pradesh, Maharashtra, Rajasthan, Karnataka, Andhra Pradesh, and Chhattisgarh
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Growing concerns about infant nutrition are driving the market
- Non-alcoholic drinks are predicted to support market growth
- Home cooking is propelling the market
- Dairy alternatives to witness significant growth rate
- Growing preference for protein rich diet to influence segment growth
- The healthier snacking option is driving the market
- Compound feed supporting the animal feed demand
- Rising penetration of organized bakery sector is likely to impact the market
- Fortification and innovative packaging trends to influence breakfast cereals market
- Growing per capita consumption and retail infrastructure driving the market growth
- Increase in the geriatric population is propelling the segment
- Strong hold of RTE/RTC in the food processing industry
- Rising awareness is increasing consumer base in the market
- Premiumization and natural ingredients are taking over the segment’s market edge
India Soy Protein Industry Overview
The India Soy Protein Market is fragmented, with the top five companies occupying 8.81%. The major players in this market are Agro Solvent Products Pvt. Ltd, Archer Daniels Midland Company, International Flavors & Fragrances Inc., Sonic Biochem Extractions Pvt. Ltd and Vippy Industries Limited (sorted alphabetically).
India Soy Protein Market Leaders
Agro Solvent Products Pvt. Ltd
Archer Daniels Midland Company
International Flavors & Fragrances Inc.
Sonic Biochem Extractions Pvt. Ltd
Vippy Industries Limited
Other important companies include Rejoice Life Ingredients.
*Disclaimer: Major Players sorted in alphabetical order.
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India 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 2020: Sun Nutrafood launched soy protein isolate variants with a protein range of 90% or more, mainly for protein fortification in the food sector for various applications.
- February 2020: Vippy Industries Limited invested a CAPEX of USD 271.84 million toward setting up a new plant in Dewas, Madhya Pradesh, for manufacturing soybean-based value-added products.
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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.
India 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
-
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
-
3.3 Production Trends
- 3.3.1 Plant
-
3.4 Regulatory Framework
- 3.4.1 India
- 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)
-
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 Supplements
- 4.2.3.1 By Sub End User
- 4.2.3.1.1 Baby Food and Infant Formula
- 4.2.3.1.2 Elderly Nutrition and Medical Nutrition
- 4.2.3.1.3 Sport/Performance Nutrition
5. COMPETITIVE LANDSCAPE
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Landscape
-
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 Agro Solvent Products Pvt. Ltd
- 5.4.2 Archer Daniels Midland Company
- 5.4.3 International Flavors & Fragrances Inc.
- 5.4.4 Rejoice Life Ingredients
- 5.4.5 Sonic Biochem Extractions Pvt. Ltd
- 5.4.6 Vippy Industries Limited
6. KEY STRATEGIC QUESTIONS FOR PROTEIN INGREDIENTS INDUSTRY CEOS
7. APPENDIX
-
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, INDIA, 2017 - 2029
- Figure 2:
- VOLUME OF BAKERY MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 3:
- VOLUME OF BEVERAGES MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 4:
- VOLUME OF BREAKFAST CEREALS MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 5:
- VOLUME OF CONDIMENTS/SAUCES MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 6:
- VOLUME OF CONFECTIONERY MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 7:
- VOLUME OF DAIRY AND DAIRY ALTERNATIVE PRODUCTS MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 8:
- VOLUME OF ELDERLY NUTRITION AND MEDICAL NUTRITION MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 9:
- VOLUME OF MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 10:
- VOLUME OF RTE/RTC FOOD PRODUCTS MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 11:
- VOLUME OF SNACKS MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 12:
- VOLUME OF SPORT/PERFORMANCE NUTRITION MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 13:
- VOLUME OF ANIMAL FEED MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 14:
- VOLUME OF PERSONAL CARE AND COSMETICS MARKET, METRIC TON, INDIA, 2017 - 2029
- Figure 15:
- AVERAGE PER CAPITA CONSUMPTION OF PLANT PROTEIN, GRAM PER DAY, INDIA, 2017 - 2029
- Figure 16:
- SOYBEAN PRODUCTION, METRIC TON, INDIA, 2017 - 2022
- Figure 17:
- VOLUME OF SOY PROTEIN MARKET, TONNES, INDIA, 2017 - 2029
- Figure 18:
- VALUE OF SOY PROTEIN MARKET, USD, INDIA, 2017 - 2029
- Figure 19:
- VOLUME OF SOY PROTEIN MARKET BY FORM, METRIC TONNES, INDIA, 2017 - 2029
- Figure 20:
- VALUE OF SOY PROTEIN MARKET BY FORM, USD, INDIA, 2017 - 2029
- Figure 21:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, %, INDIA, 2017 VS 2023 VS 2029
- Figure 22:
- VOLUME SHARE OF SOY PROTEIN MARKET BY FORM, %, INDIA, 2017 VS 2023 VS 2029
- Figure 23:
- VOLUME OF SOY PROTEIN MARKET, CONCENTRATES, METRIC TONNES, INDIA, 2017 - 2029
- Figure 24:
- VALUE OF SOY PROTEIN MARKET, CONCENTRATES, USD, INDIA, 2017 - 2029
- Figure 25:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % CONCENTRATES , INDIA, 2022 VS 2029
- Figure 26:
- VOLUME OF SOY PROTEIN MARKET, ISOLATES, METRIC TONNES, INDIA, 2017 - 2029
- Figure 27:
- VALUE OF SOY PROTEIN MARKET, ISOLATES, USD, INDIA, 2017 - 2029
- Figure 28:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % ISOLATES , INDIA, 2022 VS 2029
- Figure 29:
- VOLUME OF SOY PROTEIN MARKET, TEXTURED/HYDROLYZED, METRIC TONNES, INDIA, 2017 - 2029
- Figure 30:
- VALUE OF SOY PROTEIN MARKET, TEXTURED/HYDROLYZED, USD, INDIA, 2017 - 2029
- Figure 31:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, % TEXTURED/HYDROLYZED , INDIA, 2022 VS 2029
- Figure 32:
- VOLUME OF SOY PROTEIN MARKET BY END USER, METRIC TONNES, INDIA, 2017 - 2029
- Figure 33:
- VALUE OF SOY PROTEIN MARKET BY END USER, USD, INDIA, 2017 - 2029
- Figure 34:
- VALUE SHARE OF SOY PROTEIN MARKET BY END USER, %, INDIA, 2017 VS 2023 VS 2029
- Figure 35:
- VOLUME SHARE OF SOY PROTEIN MARKET BY END USER, %, INDIA, 2017 VS 2023 VS 2029
- Figure 36:
- VOLUME OF SOY PROTEIN MARKET, ANIMAL FEED, INDIA, 2017 - 2029
- Figure 37:
- VALUE OF SOY PROTEIN MARKET, ANIMAL FEED, INDIA, 2017 - 2029
- Figure 38:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % ANIMAL FEED , INDIA, 2022 VS 2029
- Figure 39:
- VOLUME OF SOY PROTEIN MARKET, FOOD AND BEVERAGES END USER, METRIC TONNES, INDIA, 2017 - 2029
- Figure 40:
- VALUE OF SOY PROTEIN MARKET, FOOD AND BEVERAGES END USER, USD, INDIA, 2017 - 2029
- Figure 41:
- VALUE SHARE OF SOY PROTEIN MARKET BY FOOD AND BEVERAGES END USER, %, INDIA, 2017 VS 2023 VS 2029
- Figure 42:
- VOLUME SHARE OF SOY PROTEIN MARKET BY FOOD AND BEVERAGES END USER, %, INDIA, 2017 VS 2023 VS 2029
- Figure 43:
- VOLUME OF SOY PROTEIN MARKET, BAKERY, METRIC TONNES, INDIA, 2017 - 2029
- Figure 44:
- VALUE OF SOY PROTEIN MARKET, BAKERY, USD, INDIA, 2017 - 2029
- Figure 45:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BAKERY , INDIA, 2022 VS 2029
- Figure 46:
- VOLUME OF SOY PROTEIN MARKET, BEVERAGES, METRIC TONNES, INDIA, 2017 - 2029
- Figure 47:
- VALUE OF SOY PROTEIN MARKET, BEVERAGES, USD, INDIA, 2017 - 2029
- Figure 48:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BEVERAGES , INDIA, 2022 VS 2029
- Figure 49:
- VOLUME OF SOY PROTEIN MARKET, BREAKFAST CEREALS, METRIC TONNES, INDIA, 2017 - 2029
- Figure 50:
- VALUE OF SOY PROTEIN MARKET, BREAKFAST CEREALS, USD, INDIA, 2017 - 2029
- Figure 51:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BREAKFAST CEREALS , INDIA, 2022 VS 2029
- Figure 52:
- VOLUME OF SOY PROTEIN MARKET, CONDIMENTS/SAUCES, METRIC TONNES, INDIA, 2017 - 2029
- Figure 53:
- VALUE OF SOY PROTEIN MARKET, CONDIMENTS/SAUCES, USD, INDIA, 2017 - 2029
- Figure 54:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % CONDIMENTS/SAUCES , INDIA, 2022 VS 2029
- Figure 55:
- VOLUME OF SOY PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, METRIC TONNES, INDIA, 2017 - 2029
- Figure 56:
- VALUE OF SOY PROTEIN MARKET, DAIRY AND DAIRY ALTERNATIVE PRODUCTS, USD, INDIA, 2017 - 2029
- Figure 57:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % DAIRY AND DAIRY ALTERNATIVE PRODUCTS , INDIA, 2022 VS 2029
- Figure 58:
- VOLUME OF SOY PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, METRIC TONNES, INDIA, 2017 - 2029
- Figure 59:
- VALUE OF SOY PROTEIN MARKET, MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS, USD, INDIA, 2017 - 2029
- Figure 60:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % MEAT/POULTRY/SEAFOOD AND MEAT ALTERNATIVE PRODUCTS , INDIA, 2022 VS 2029
- Figure 61:
- VOLUME OF SOY PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, METRIC TONNES, INDIA, 2017 - 2029
- Figure 62:
- VALUE OF SOY PROTEIN MARKET, RTE/RTC FOOD PRODUCTS, USD, INDIA, 2017 - 2029
- Figure 63:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % RTE/RTC FOOD PRODUCTS , INDIA, 2022 VS 2029
- Figure 64:
- VOLUME OF SOY PROTEIN MARKET, SNACKS, METRIC TONNES, INDIA, 2017 - 2029
- Figure 65:
- VALUE OF SOY PROTEIN MARKET, SNACKS, USD, INDIA, 2017 - 2029
- Figure 66:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % SNACKS , INDIA, 2022 VS 2029
- Figure 67:
- VOLUME OF SOY PROTEIN MARKET, SUPPLEMENTS END USER, METRIC TONNES, INDIA, 2017 - 2029
- Figure 68:
- VALUE OF SOY PROTEIN MARKET, SUPPLEMENTS END USER, USD, INDIA, 2017 - 2029
- Figure 69:
- VALUE SHARE OF SOY PROTEIN MARKET BY SUPPLEMENTS END USER, %, INDIA, 2017 VS 2023 VS 2029
- Figure 70:
- VOLUME SHARE OF SOY PROTEIN MARKET BY SUPPLEMENTS END USER, %, INDIA, 2017 VS 2023 VS 2029
- Figure 71:
- VOLUME OF SOY PROTEIN MARKET, BABY FOOD AND INFANT FORMULA, METRIC TONNES, INDIA, 2017 - 2029
- Figure 72:
- VALUE OF SOY PROTEIN MARKET, BABY FOOD AND INFANT FORMULA, USD, INDIA, 2017 - 2029
- Figure 73:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % BABY FOOD AND INFANT FORMULA , INDIA, 2022 VS 2029
- Figure 74:
- VOLUME OF SOY PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL NUTRITION, METRIC TONNES, INDIA, 2017 - 2029
- Figure 75:
- VALUE OF SOY PROTEIN MARKET, ELDERLY NUTRITION AND MEDICAL NUTRITION, USD, INDIA, 2017 - 2029
- Figure 76:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % ELDERLY NUTRITION AND MEDICAL NUTRITION , INDIA, 2022 VS 2029
- Figure 77:
- VOLUME OF SOY PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION, METRIC TONNES, INDIA, 2017 - 2029
- Figure 78:
- VALUE OF SOY PROTEIN MARKET, SPORT/PERFORMANCE NUTRITION, USD, INDIA, 2017 - 2029
- Figure 79:
- VALUE SHARE OF SOY PROTEIN MARKET BY FORM, % SPORT/PERFORMANCE NUTRITION , INDIA, 2022 VS 2029
- Figure 80:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, INDIA SOY PROTEIN MARKET, 2017 - 2022
- Figure 81:
- MOST ADOPTED STRATEGIES, COUNT, INDIA, 2017 - 2022
- Figure 82:
- VALUE SHARE OF MAJOR PLAYERS, %, INDIA SOY PROTEIN MARKET, 2021
India Soy Protein Industry Segmentation
Concentrates, Isolates, Textured/Hydrolyzed are covered as segments by Form. Animal Feed, Food and Beverages, Supplements are covered as segments by End User.
- The F&B segment controls the majority application share of the market. It is expected to record a CAGR of 6.06%, by volume, over the forecast period. Personal care and cosmetics is expected to be the fastest-growing end-user segment during the forecast period, with a CAGR of 8.25% by volume. India has the highest number of vegetarians in Asia-Pacific, fueling the country's demand for plant-based proteins. As of 2022, 24% of Indians were strictly vegetarian, 9% were vegan, and 8% were pescatarian. The growing demand for meat alternatives and dairy alternatives, as well as the rising vegetarianism and veganism, is driving the demand for food and beverages. The growing preference for healthy, on-the-go meal options is also contributing to market expansion. In 2021, approximately 70% of Indians were willing to prioritize dietary changes to improve their overall health and immunity and reduce stress and anxiety.
- Soy protein is primarily used for meat and dairy alternative products in the F&B segment. About 44.22% of the volume share in the F&B segment was held by meat and meat alternatives and 37.04% by dairy and dairy alternatives. Soybeans are powerful legumes with high levels of protein and other nutrients that can easily replace meat. They also offer easy digestibility and meat-like texture. Soy-fortified milk is also popular since its protein, calcium, vitamins A and D, and vitamin B content is comparable to cow's milk. The main trend in the use of plant protein ingredients has been the availability of high protein content ingredients, so the emphasis has shifted to sustainable sources and the quality of the protein in the ingredients offered.
| 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 | |||
| Supplements | By Sub End User | Baby Food and Infant Formula | |
| Elderly Nutrition and Medical Nutrition | |||
| Sport/Performance Nutrition |
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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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