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North America Soy Protein Concentrate Market by Grade (Food Grade, Feed Grade), by Function (Texturants, Water & Fat Absorption, Emulsifier, Nutrients, Others), by Application (Animal Feed, Meat Processing, Bakery & Confectionary, Others), by North America (U.S., Canada, Mexico) Forecast 2025-2033
The size of the North America Soy Protein Concentrate Market market was valued at USD 165 Million in 2024 and is projected to reach USD 271.97 Million by 2033, with an expected CAGR of 7.4% during the forecast period. North America's soy protein concentrate market is currently growing with growing consumer demand for plant-based proteins driven by awareness towards health and sustainability. Soybean-based high protein ingredient soy protein concentrate is on the gaining streak to be a staple ingredient in all food and beverages applications like meat substitutes, dairy alternatives, snacks, etc. Such growth will be encouraged by the rising adoption of plant-based diets. Consumers are in search of alternatives to animal-based proteins for reasons of health, environmental concerns, and ethical considerations. Gains in the market may also be derived from an increasing prevalence of lactose intolerance and other dietary restrictions, which stimulate demand for soy-based dairy alternatives. Soy protein concentrate has also been of interest to manufacturers because of its functional properties. For instance, it improves the texture of products and enhances their nutritional profile. In addition, with the clean-label trend that calls for transparency in the use of natural ingredients, soy protein concentrate is increasingly becoming a sought-after ingredient, being perceived as wholesome and minimally processed. However, challenges about the soybean genetic modification and varying prices of raw material cause fluctuation in the market. On the other hand, North America's soy protein concentrate market is projected to continue growing from now on due to new product formulations and the increasing trend of plant-based products across the region.
The market is fragmented with a few key players holding a significant share. Innovation is driven by research and development efforts focused on enhancing product quality and functionality. Government regulations ensure compliance with food safety and environmental standards. End-user concentration is high in the animal feed sector. M&A activity is moderate, with companies seeking strategic acquisitions to expand their market presence.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 7.4% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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