Italy Soy Protein Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 35.73 Billion |
| Market Size (2029) | USD 43.87 Billion |
| CAGR (2024 - 2029) | 4.19 % |
| Market Concentration | Low |
Major Players.webp "Italy Soy Protein Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Italy Soy Protein Market Analysis
The Italy Soy Protein Market size is estimated at USD 35.73 billion in 2024, and is expected to reach USD 43.87 billion by 2029, growing at a CAGR of 4.19% during the forecast period (2024-2029).
- The incorporation of soy protein into food and beverages to enhance the nutritional profile of the product is one of the primary market drivers in the market. Additionally, soy protein is used in various products such as bakery and confectionery and dairy alternative products to maintain product texture, and it also acts as a binder in various food products, resulting in increasing the demand for soy protein concentrate (SPC) across the market. The presence of high fiber contents has resulted in increased use of soy protein in manufacturing food products for people following a rigorous diet and exercise schedule.
- Further, an increase in the number of people visiting gyms has resulted in increased demand for organic and nutrient-rich supplementary food products. The presence of plant-based protein has resulted in increased use of Soy Protein Concentrate by the Nutraceutical industry. Moreover, in July 2022, according to ProConBritannica, Inc. organization, about 72% of the Italian population was lactose intolerant, leading to high demand for plant-based proteins.
- Moreover, soy protein concentrate is an ideal meat substitute and is gaining higher traction among vegan and flexitarian consumers. This phenomenon augmented the growth of the product, which helps food manufacturers provide a meat-like nutrition profile to their portfolio of faux meat or vegan meat products such as nuggets, burger patties, sausages, and crumbles.
- Additionally, the increasing e-commerce market drives the soy protein market as consumers are more aware of the health benefits associated with it due to increased internet penetration and increased advertisement strategies through social media influencers, etc.
- For instance, according to Osservatori Digital Innovation and Corriere Comunicazioni, the value of purchases in the e-commerce B2C food and grocery sector in Italy increased significantly to EUR 4.8 billion (USD 5.616 billion) in 2022 when compared to EUR 4.0 billion (USD 4.68 billion) in 2021. However, the increasing market for alternative plant protein sources such as hemp protein, oat protein, and pea protein can hinder the market growth of soy protein concentrates.
Italy Soy Protein Market Trends
Growing Demand for Protein Rich Food is Persuading the Production of Soy in Italy
- Italian consumers are actively seeking more protein in their meals, beverages, and snacks. Additionally, socioeconomic trends like growing urbanization, rising incomes, and aging populations are ultimately driving the increased protein consumption that is resulting from the population rise, which, in turn, is inducing the production of soy in the country. For instance, according to Eurostat, the gross domestic product (GDP) per capita of Italy was EUR 32,390 (USD 37,937) in 2022.
- In recent times, there has been increasing awareness about the adverse health consequences associated with meat consumption. This growing awareness has led to a surge in the adoption of plant-based diets, with soy protein gaining significant popularity and driving market expansion.
- Additionally, the escalating prevalence of obesity, cardiovascular ailments, and diabetes in the American populace has motivated individuals to embrace vegan diets as a healthier choice. Furthermore, for individuals with milk protein allergies, soybeans present a viable and nutritious alternative source of protein.
- Moreover, manufacturers of sports nutritional products have a strong preference for incorporating soy protein into their meals. This choice is driven by several factors, including the widespread availability of soy, its robust amino acid profile, and its ease of digestion, making it a recognized "complete protein." These advantages have further stimulated soy production in Italy.
- Simultaneously, the consumption of protein-rich foods like soybeans as part of a healthy diet has seen a significant uptick among fitness enthusiasts and individuals with active lifestyles. This trend is attributed to the benefits of soy in providing energy, promoting muscle development, and aiding in weight management..
- Athletes who incorporate both soy and whey protein in their nutritional regimens may benefit from their different rates of digestion and amino acid absorption. Whey protein, together with soy- protein, provides a more prolonged, deliberate release of amino acids to key muscle groups. Thus, the ongoing consumer demand for high protein/protein-rich food and beverages is driving the application of soy-protein ingredients actively across various end-user food and beverage industries.
Increased Use in Food and beverage Sector Drives The Market
- As consumers become more health-conscious and concerned about the environmental impact of their food choices, they are increasingly turning to plant-based protein sources like soy. Soy protein is not only rich in essential amino acids. Still, it is also cholesterol-free and low in saturated fats, making it an attractive option for those looking to maintain a balanced and healthy diet.
- Soy protein can be found in various forms, including soy protein isolates, concentrates, and textured soy protein, which can be used to enhance the nutritional profile of foods such as meat alternatives, dairy-free products, and baked goods. This versatility has allowed manufacturers to cater to the diverse preferences of Italian consumers, driving the demand for soy protein.
- According to the research article 'Functional and Edible Uses of Soy Protein Products,' published in the journal 'Comprehensive Reviews in Food Science and Food Safety, 'regardless of the processing method, all soy protein concentrates alter the viscosity and textural qualities of the food system and can hold both fat and water (in part because of their polysaccharide content)." In comparison to soy flours that are readily available in stores, all concentrates have significantly better flavor qualities.
- Furthermore, soy protein's functional characteristics make it a significant addition to food and beverage formulations. It can enhance texture, moisture tolerance, and shelf life in a variety of products. This makes soy especially popular in the context of plant-based meat substitutes, where the aim is to mimic the flavor and texture of classic meat products.
- In Italy, consumers are increasingly looking for plant-based alternatives for ethical reasons, health concerns, and environmental concerns. Government initiatives and policies that promote sustainable agriculture and reduce the environmental impact of food production are also driving the market for soy protein.
- In addition, soy cultivation typically uses fewer resources and produces less greenhouse gas emissions than livestock farming, which is in line with Italy's sustainability objectives. Therefore, there is a growing push to include soy protein in food products as part of a larger effort to reduce carbon footprint in the food industry.
Italy Soy Protein Industry Overview
The Italy soy protein market is highly competitive due to multiple regional and multinational companies offering a wide range of products and trying to maintain their leadership position in the market studied. Major players in the market include A. Costantino & C. spa., ADM, DuPont de Nemours, Inc., Cargill, Incorporated., Kerry Group, CJ Group, Bunge Limited, International Flavours and Fragrance Inc., Wilmar International Limited and Brenntag holding a significant share of the market studied and embarking on business strategies including product innovations, partnerships, strengthening their hold over online and offline marketing, and mergers & acquisitions to expand their visibility and portfolio of offerings, thus, augmenting the growth of the market.
Italy Soy Protein Market Leaders
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Archer Daniels Midland Company
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Kerry Group PLC
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CJ Group
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Bunge Limited
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Cargill, Incorporated.
*Disclaimer: Major Players sorted in no particular order
Italy Soy Protein Market News
- June 2023: Bunge mergered with Viterra, marking a pivotal moment in the global grain industry. This strategic partnership positions Bunge to emerge as one of the world's foremost grain companies. The merger between Bunge and Viterra holds the potential to expedite Bunge's overarching mission, which centers on connecting farmers to consumers and ensuring the delivery of vital food, feed, and fuel resources worldwide, including in Italy.
- August 2022: Cargill forged a strategic alliance with Benson Hill to drive the expansion of innovative ultra-high protein soy solutions. This long-term partnership underscores their commitment to meeting the surging demand for plant-based proteins. Together, they aim to scale up innovative soy ingredients that can address the evolving landscape of protein consumption.
- February 2022: Benson Hill, a prominent food tech company, diversified its product portfolio with the introduction of TruVail™, a cutting-edge range of domestically sourced, non-GMO plant-based protein ingredients distinguished by their remarkable sustainability benefits. TruVail™ includes high-protein soy flour, a minimally processed alternative to soy protein concentrate (SPC), as well as texturized proteins suitable for a wide range of applications in both traditional soy protein markets and the burgeoning alternative plant-based protein sector.
Italy Soy Protein Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Rising Health and Wellness Trends Drives the Market
- 4.1.2 Increased Use in Food and beverage Sector Drives The Market
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4.2 Market Restraints
- 4.2.1 High Competition from Other Protein Sources
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Form
- 5.1.1 Concentrates
- 5.1.2 Isolates
- 5.1.3 Textured/Hydrolyzed
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5.2 End-User
- 5.2.1 Animal Feed
- 5.2.2 Personal Care and Cosmetics
- 5.2.3 Food and Beverages
- 5.2.3.1 Bakery
- 5.2.3.2 Beverages
- 5.2.3.3 Breakfast Cereals
- 5.2.3.4 Condiments/Sauces
- 5.2.3.5 Dairy and Dairy Alternative Products
- 5.2.3.6 Meat/Poultry/Seafood and Meat Alternative Products
- 5.2.3.7 RTE/RTC Food Products
- 5.2.3.8 Snacks
- 5.2.4 Supplements
- 5.2.4.1 Baby Food and Infant Formula
- 5.2.4.2 Elderly Nutrition and Medical Nutrition
- 5.2.4.3 Sport/Performance Nutrition
6. COMPETITIVE LANDSCAPE
- 6.1 Srategies Adopted By Leading Players
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 ADM
- 6.3.2 DuPont de Nemours, Inc.
- 6.3.3 Cargill, Incorporated.
- 6.3.4 Kerry Group
- 6.3.5 CJ Group
- 6.3.6 Bunge Limited
- 6.3.7 International Flavours and Fragrance Inc
- 6.3.8 A. Costantino & C. spa
- 6.3.9 Brenntag
- 6.3.10 Wilmar International Limited.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Italy Soy Protein Industry Segmentation
Soy protein refers to the protein that is found in soybeans that are often used to replace animal proteins in an individual's diet. It is a high-quality protein with a protein digestibility-corrected amino acid score (PDCAAS) of 1.00, which is close to some of the proteins from animal sources, such as meat and dairy.
The Italy soy protein market is segmented by form and end-user. By form, the market is segmented into concentrates, isolates, and textured/hydrolyzed. By end-user, the market is segmented into animal feed, personal care and cosmetics, food and beverages, and supplements.
The market sizing has been done in value terms in USD and volume terms in tons for all the abovementioned segments.
| Form | Concentrates | |
| Isolates | ||
| Textured/Hydrolyzed | ||
| End-User | Animal Feed | |
| Personal Care and Cosmetics | ||
| Food and Beverages | Bakery | |
| Beverages | ||
| Breakfast Cereals | ||
| Condiments/Sauces | ||
| Dairy and Dairy Alternative Products | ||
| Meat/Poultry/Seafood and Meat Alternative Products | ||
| RTE/RTC Food Products | ||
| Snacks | ||
| Supplements | Baby Food and Infant Formula | |
| Elderly Nutrition and Medical Nutrition | ||
| Sport/Performance Nutrition |
Italy Soy Protein Market Research FAQs
How big is the Italy Soy Protein Market?
The Italy Soy Protein Market size is expected to reach USD 35.73 billion in 2024 and grow at a CAGR of 4.19% to reach USD 43.87 billion by 2029.
What is the current Italy Soy Protein Market size?
In 2024, the Italy Soy Protein Market size is expected to reach USD 35.73 billion.
Who are the key players in Italy Soy Protein Market?
Archer Daniels Midland Company, Kerry Group PLC, CJ Group, Bunge Limited and Cargill, Incorporated. are the major companies operating in the Italy Soy Protein Market.
What years does this Italy Soy Protein Market cover, and what was the market size in 2023?
In 2023, the Italy Soy Protein Market size was estimated at USD 34.23 billion. The report covers the Italy Soy Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Italy Soy Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Italy Soy Protein Industry Report
Statistics for the 2024 Italy Soy Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Italy Soy Protein analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
