Market Size of South America Soy Protein Ingredients Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.81 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Soy Protein Ingredients Market Analysis
South America Soy Protein Ingredients Market is anticipated to register a CAGR of 6.81%, during the forecast period (2020– 2025)
- South America soy protein ingredients market is driven by growing inclination toward vegan diets, the functional efficiency, the cost competitiveness offered by such plant protein products, and their increasing utilization in wide variety of processed foods, especially in the ready-to-eat product category.
- Moreover, the emerging demands for plant-based proteins coupled with gradual preference for meat substitutes have driven themarket forsoy protein ingredients in South America.
South America Soy Protein Ingredients Industry Segmentation
South America soy protein ingredients market is segmented by type such as soy isolates, soy concentrate, and textured soy protein. On the basis of application, the market is segmented into bakery and confectionery, meat extenders and substitutes, nutritional supplements, beverages, and others. Also, the study provides an analysis of the soy protein ingredients in the emerging and established markets across the region, including Brazil, Argentina, and rest of South America.
| By Type | |
| Soy Isolates | |
| Soy Concentrate | |
| Textured Soy Protein |
| By Application | |
| Bakery and Confectionery | |
| Meat Extenders and Substitutes | |
| Nutritional Supplements | |
| Beverages | |
| Other Applications |
| Geography | |||||
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South America Soy Protein Ingredients Market Size Summary
The South America soy protein ingredients market is experiencing significant growth, driven by a rising interest in vegan diets and the functional benefits and cost-effectiveness of plant-based proteins. These ingredients are increasingly being incorporated into a wide range of processed foods, particularly in the ready-to-eat segment. The market is further bolstered by a growing demand for plant-based proteins and a shift towards meat substitutes. This trend is supported by the increasing popularity of sports and nutrition products among athletes, bodybuilders, and individuals focused on weight management, where soy protein serves as a key ingredient. Additionally, the region's large lactose intolerant population is fueling the demand for dairy alternatives, such as soy protein.
The South American market for soy protein ingredients also presents substantial opportunities in the GMO-free and clean-label segments. Manufacturers are exploring eco-friendly cultivation and sourcing methods for soybeans to produce high-quality and safe soy proteins. Organic soy protein is widely used in various products, including protein and energy bars, breakfast cereals, processed meats, and meat alternatives, enhancing taste and texture. The market is geographically segmented into Brazil, Argentina, and Mexico, with Brazil holding the largest market share. Recent increases in research and development, along with a surge in soy production, have attracted numerous companies to establish manufacturing units in these regions. Key players in the market include Ajinomoto, Kerry Group, Tate & Lyle, Dien Inc., and Arla Foods Ingredients, among others.
South America Soy Protein Ingredients Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Soy Isolates
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2.1.2 Soy Concentrate
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2.1.3 Textured Soy Protein
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2.2 By Application
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2.2.1 Bakery and Confectionery
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2.2.2 Meat Extenders and Substitutes
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2.2.3 Nutritional Supplements
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2.2.4 Beverages
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2.2.5 Other Applications
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2.3 Geography
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2.3.1 South America
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2.3.1.1 Brazil
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2.3.1.2 Argentina
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2.3.1.3 Rest of the South America
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South America Soy Protein Ingredients Market Size FAQs
What is the current South America Soy Protein Ingredients Market size?
The South America Soy Protein Ingredients Market is projected to register a CAGR of 6.81% during the forecast period (2024-2029)
Who are the key players in South America Soy Protein Ingredients Market?
Ajinomoto, Kerry Group, Tate & Lyle, Dien Inc. and Archer Daniels Midland Company are the major companies operating in the South America Soy Protein Ingredients Market.
