Soy Protein Market: By Product Type (Soy Flour, Soy Concentrates, and Soy Isolates), By Function (Emulsifier, Fat & Water Absorption, Nutrients, and Texturants), By Form (Dry and Liquid), By Application (Nutritional Supplements, Beverages, Meat Extenders & Substitutes, Bakery and confectionery, and Others), and Geography  

Soy Protein Market size was valued at USD 7.26 billion in 2022 and is poised to grow at a CAGR of 9.8% from 2023-29. Soy protein is a protein that comes from the soybeans and it offers multiple health benefits. It is obtained from soybean meal which has been dehulled and defatted into high commercial products such as concentrates, isolates, and soy flour. Soy protein is rich in lecithin, magnesium, vitamin B, calcium, potassium, fiber, polyunsaturated fat. Among the numerous varieties of soy protein components, soy protein isolates contain the most protein (almost 90%). These are regarded a premium component and are utilised in milk beverages because of their excellent dispersibility. The bland flavour, reduced fat content, oligosaccharides, and fibre content of soy protein isolates are further advantages. Soy protein isolates, developed in the United States, are widely utilised in infant meals. These are used in weaning diets, dairy substitutes, meat systems, and functional foods to add protein. Soy proteins are one of the most popular animal and dairy protein substitutes, which has helped food manufacturers reduce costs and increase product profitability. Due to their functional and nutritional qualities, they are utilised in a variety of food applications such as baking, confectionery, emulsion-type sausages, dairy replacers, functional beverages and nutritious bars, and breakfast cereals. They're also employed in animal feed, aquaculture, and pet food as nutritious components. Soy protein is a good substitute for meat and dairy proteins since it has various nutritional benefits. Although the North American soy protein market was the largest in 2016, the Asia-Pacific market is expected to develop at the fastest CAGR throughout the forecast period. One of the primary factors driving the growth of the soy protein ingredients market in this region is the rising consumption of soy-based goods.