Italy Soy Protein Market Size (2024 - 2029)

The Italy Soy Protein Market is experiencing growth driven by the increasing incorporation of soy protein in food and beverages to enhance nutritional profiles, as well as its use in maintaining product texture and acting as a binder in various food products. The demand for soy protein concentrate is rising, particularly in the nutraceutical industry, due to its high fiber content and suitability for those following strict diet and exercise regimens. The market is further bolstered by the growing popularity of plant-based proteins among vegan and flexitarian consumers, as well as the expansion of the e-commerce sector, which raises awareness of health benefits associated with soy protein. However, the market's expansion may face challenges from the rising popularity of alternative plant protein sources such as hemp, oat, and pea protein.

Market Size of Italy Soy Protein Industry

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Italy Soy Protein Market Summary
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

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 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
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Italy Soy Protein Market Size Summary

The Italy soy protein market is experiencing significant growth, driven by the increasing incorporation of soy protein into various food and beverage products to enhance their nutritional profiles. This trend is fueled by the rising demand for plant-based proteins, particularly among health-conscious consumers and those following specific dietary regimes. The versatility of soy protein, used as a binder and texture enhancer in products like bakery items, dairy alternatives, and meat substitutes, is contributing to its popularity. The market is further bolstered by the growing awareness of the health benefits of plant-based diets, as well as the increasing number of individuals seeking organic and nutrient-rich supplementary foods. The rise in e-commerce and digital marketing strategies is also playing a crucial role in expanding the market reach of soy protein products.

The market landscape is characterized by intense competition, with both regional and multinational companies vying for market share through product innovations, strategic partnerships, and mergers and acquisitions. Major players such as Archer Daniels Midland Company, Cargill, and Bunge Limited are actively expanding their portfolios to meet the surging demand for plant-based proteins. The market's growth is supported by socioeconomic trends like urbanization and rising incomes, which are driving increased protein consumption. Additionally, the environmental benefits of soy protein, such as lower resource usage and reduced greenhouse gas emissions compared to livestock farming, align with Italy's sustainability goals, further propelling market expansion.

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Italy Soy Protein Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Rising Health and Wellness Trends Drives the Market

      2. 1.1.2 Increased Use in Food and beverage Sector Drives The Market

    2. 1.2 Market Restraints

      1. 1.2.1 High Competition from Other Protein Sources

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Form

      1. 2.1.1 Concentrates

      2. 2.1.2 Isolates

      3. 2.1.3 Textured/Hydrolyzed

    2. 2.2 End-User

      1. 2.2.1 Animal Feed

      2. 2.2.2 Personal Care and Cosmetics

      3. 2.2.3 Food and Beverages

        1. 2.2.3.1 Bakery

        2. 2.2.3.2 Beverages

        3. 2.2.3.3 Breakfast Cereals

        4. 2.2.3.4 Condiments/Sauces

        5. 2.2.3.5 Dairy and Dairy Alternative Products

        6. 2.2.3.6 Meat/Poultry/Seafood and Meat Alternative Products

        7. 2.2.3.7 RTE/RTC Food Products

        8. 2.2.3.8 Snacks

      4. 2.2.4 Supplements

        1. 2.2.4.1 Baby Food and Infant Formula

        2. 2.2.4.2 Elderly Nutrition and Medical Nutrition

        3. 2.2.4.3 Sport/Performance Nutrition

Italy Soy Protein Market Size FAQs

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.

In 2024, the Italy Soy Protein Market size is expected to reach USD 35.73 billion.

Italy Soy Protein Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)