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Europe Soy Protein Market Size

The Europe Soy Protein Market is anticipated to experience growth over the forecast period, driven by its expanding application in the animal feed and food and beverage industries. The market's expansion is supported by government initiatives and the rising popularity of plant-based proteins, particularly among the flexitarian population. Soy protein's health benefits, such as lowering cholesterol and its high nutritional value, contribute to its increasing demand in the supplements sector. France is expected to lead in growth, with significant plans to increase the cultivation of protein-rich crops like soy, while Russia remains a major consumer due to its large market and demand from the food and beverage sector.

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Market Size of europe soy protein Industry

Europe Soy Protein Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 2.25 Billion
svg icon Market Size (2029) USD 2.72 Billion
svg icon Largest Share by End User Animal Feed
svg icon CAGR (2024 - 2029) 3.87 %
svg icon Largest Share by Country Russia
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Europe Soy Protein Market Analysis

The Europe Soy Protein Market size is estimated at 2.25 billion USD in 2024, and is expected to reach 2.72 billion USD by 2029, growing at a CAGR of 3.87% during the forecast period (2024-2029).

2.25 Billion

Market Size in 2024 (USD)

2.72 Billion

Market Size in 2029 (USD)

3.53 %

CAGR (2017-2023)

3.87 %

CAGR (2024-2029)

Largest Market by Form

44.54 %

value share, Concentrates, 2023

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Constant research and innovations, mainly in animal feed, support the application of soy protein concentrates, projected to drive the segment.

Largest Market by End User

51.66 %

value share, Animal Feed, 2023

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Soy protein is widely used in the region's animal feed sector due to its distinct benefits like protein digestibility, apt amino acid profile, extended shelf life, etc.

Fastest Growing Market by Form

4.10 %

Projected CAGR, Textured/Hydrolyzed, 2024-2029

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Increasing use of hydrolyzed soy protein in the animal feed and food and beverage industry due to its functional and nutritional benefits is estimated to drive the segment growth.

Fastest Growing Market by End User

8.12 %

Projected CAGR, Supplements, 2024-2029

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The rising consumer focus on health and sports fitness is anticipated to drive the segment. Among all, soy preference in the sector propels segmental growth.

Leading Market Player

13.59 %

market share, Archer Daniels Midland Company, 2021

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Archer Daniels Midland aims to boost its soy protein offerings for the burgeoning meat alternatives market by launching a new line of soy proteins.

The suitability of soy-protein due to its easier digestibility factor dominated it's application mainly in animal feed sector, thereby resulting in the higher market share of animal feed segment

  • Soy protein is projected to register a CAGR of 2.65% by value during the forecast period in the animal feed industry. The EU imports 18.5 million tonnes of soybean meal every year, of which 95% goes toward feeding animals. The soy protein demand in animal feed witnessed a major push due to government initiatives and manufacturers' increased competitiveness. For instance, the Protein Plan announced by the European Federation of the Compound Feed Industry (FEFAC) boosted the demand for plant proteins significantly in the animal feed industry, including soy protein.
  • The F&B industry is another key end-user segment, primarily driven by the surging demand in the RTE/RTC foods sub-segment. Thus, the segment is projected to witness the fastest CAGR of 8.99% by value. In Europe, the flexitarian population has doubled from 1.3 million to around 2.6 million, representing 3.2% of the population in 2020. Vegetarians, pescatarians, and flexitarians, the group in total, represented about 30.9% of the population in 2020. Soy protein also serves as an alternative to animal-derived meals and provides numerous functionalities like high digestibility, a great amino acid profile, a low level of anti-nutritional factors, and long shelf life.
  • Soy protein holds a significant share of the supplements market. It is projected to register a growth of 6.19% by value during the forecast period. Soy protein has the properties of lowering cholesterol levels and its high nutritional fiber content. In 2021, there were about 2.5 million Europeans affected with hypercholesterolemia. The market for soy protein witnessed an increase in demand due to the rising nutritional values and health benefits in the supplements market.
Europe Soy Protein Market

Russia dominated the market, majorly driven by the country's large consumer base and high demand from the F&B segment

  • The market witnessed a three-fold Y-o-Y growth rate of 8%, by value, in 2020. Owing to the COVID-19 impact, due to the increased prices of raw materials in the country. In 2020, despite measures taken by the Russian government through the introduction of export customs duty on soybeans, the selling prices of soybeans increased in the Central Federal District, which led to increased soy protein prices. Therefore, the price of SPI increased by 0.21% in 2020, compared to the 0.16% average growth rate of price over the previous four years.
  • France is projected to be the fastest-growing country in terms of value, with a CAGR of 5.14% during the forecast period. The country has planned to raise the sowing area for protein-rich crops, especially soy, by 40% from 2022 and double it over the next ten years, reducing soy protein prices and further boosting its sales. Moreover, AFNOR (Association Française de Normalization) has introduced the standard that soy juices sold domestically are made from a minimum of 3.2 g of soy protein per 100 ml and have no trace of dairy products, creating opportunities for manufacturers.
  • In 2022, Russia remained the largest soy protein consumer in the region, which is further projected to register a CAGR of 4.29% during the forecast period. The demand was majorly driven by the country's large consumer base and high demand from the F&B segment, accounting for a 44.35% volume share in 2020. The demand for soy products is expected to increase exponentially in the future, as most consumers perceive soybeans as a cheap and healthy substitute for animal protein.

Europe Soy Protein Industry Segmentation

Concentrates, Isolates, Textured/Hydrolyzed are covered as segments by Form. Animal Feed, Food and Beverages, Personal Care and Cosmetics, Supplements are covered as segments by End User. Belgium, France, Germany, Italy, Netherlands, Russia, Spain, Turkey, United Kingdom are covered as segments by Country.

  • Soy protein is projected to register a CAGR of 2.65% by value during the forecast period in the animal feed industry. The EU imports 18.5 million tonnes of soybean meal every year, of which 95% goes toward feeding animals. The soy protein demand in animal feed witnessed a major push due to government initiatives and manufacturers' increased competitiveness. For instance, the Protein Plan announced by the European Federation of the Compound Feed Industry (FEFAC) boosted the demand for plant proteins significantly in the animal feed industry, including soy protein.
  • The F&B industry is another key end-user segment, primarily driven by the surging demand in the RTE/RTC foods sub-segment. Thus, the segment is projected to witness the fastest CAGR of 8.99% by value. In Europe, the flexitarian population has doubled from 1.3 million to around 2.6 million, representing 3.2% of the population in 2020. Vegetarians, pescatarians, and flexitarians, the group in total, represented about 30.9% of the population in 2020. Soy protein also serves as an alternative to animal-derived meals and provides numerous functionalities like high digestibility, a great amino acid profile, a low level of anti-nutritional factors, and long shelf life.
  • Soy protein holds a significant share of the supplements market. It is projected to register a growth of 6.19% by value during the forecast period. Soy protein has the properties of lowering cholesterol levels and its high nutritional fiber content. In 2021, there were about 2.5 million Europeans affected with hypercholesterolemia. The market for soy protein witnessed an increase in demand due to the rising nutritional values and health benefits in the supplements market.
Form
Concentrates
Isolates
Textured/Hydrolyzed
End User
Animal Feed
Food and Beverages
By Sub End User
Bakery
Beverages
Breakfast Cereals
Condiments/Sauces
Dairy and Dairy Alternative Products
Meat/Poultry/Seafood and Meat Alternative Products
RTE/RTC Food Products
Snacks
Personal Care and Cosmetics
Supplements
By Sub End User
Baby Food and Infant Formula
Elderly Nutrition and Medical Nutrition
Sport/Performance Nutrition
Country
Belgium
France
Germany
Italy
Netherlands
Russia
Spain
Turkey
United Kingdom
Rest of Europe
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Europe Soy Protein Market Size Summary

The Europe Soy Protein Market is experiencing a steady expansion, driven by increasing demand across various sectors, particularly in animal feed and the food and beverage industry. The market is characterized by a significant shift towards plant-based protein sources, with soy protein being a key player due to its nutritional benefits and versatility. The animal feed industry, in particular, has seen a boost in soy protein demand, supported by government initiatives and industry competitiveness, such as the Protein Plan by the European Federation of the Compound Feed Industry. The food and beverage sector is also witnessing rapid growth, especially in ready-to-eat and ready-to-cook foods, fueled by the rising flexitarian and vegetarian populations in Europe. This trend is further enhanced by the increasing consumer preference for plant-based diets, driven by health and environmental concerns.

The market landscape is fragmented, with major players like Archer Daniels Midland Company, CHS Inc., and Kerry Group PLC leading the charge in plant-based food solutions. The region's consumption of soy protein is bolstered by its functional efficiency and cost competitiveness, making it a popular alternative to animal-derived proteins. Despite challenges such as the presence of GMOs and public policy restrictions, the market continues to grow, with countries like France and Russia playing pivotal roles in its expansion. The demand for non-GM and VSS-compliant soybeans is also on the rise, reflecting the region's commitment to sustainable and health-conscious food production. As the market evolves, strategic initiatives by key players and the increasing adoption of plant-based diets are expected to drive further growth in the Europe Soy Protein Market.

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Europe Soy Protein Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Form

      1. 1.1.1 Concentrates

      2. 1.1.2 Isolates

      3. 1.1.3 Textured/Hydrolyzed

    2. 1.2 End User

      1. 1.2.1 Animal Feed

      2. 1.2.2 Food and Beverages

        1. 1.2.2.1 By Sub End User

          1. 1.2.2.1.1 Bakery

          2. 1.2.2.1.2 Beverages

          3. 1.2.2.1.3 Breakfast Cereals

          4. 1.2.2.1.4 Condiments/Sauces

          5. 1.2.2.1.5 Dairy and Dairy Alternative Products

          6. 1.2.2.1.6 Meat/Poultry/Seafood and Meat Alternative Products

          7. 1.2.2.1.7 RTE/RTC Food Products

          8. 1.2.2.1.8 Snacks

      3. 1.2.3 Personal Care and Cosmetics

      4. 1.2.4 Supplements

        1. 1.2.4.1 By Sub End User

          1. 1.2.4.1.1 Baby Food and Infant Formula

          2. 1.2.4.1.2 Elderly Nutrition and Medical Nutrition

          3. 1.2.4.1.3 Sport/Performance Nutrition

    3. 1.3 Country

      1. 1.3.1 Belgium

      2. 1.3.2 France

      3. 1.3.3 Germany

      4. 1.3.4 Italy

      5. 1.3.5 Netherlands

      6. 1.3.6 Russia

      7. 1.3.7 Spain

      8. 1.3.8 Turkey

      9. 1.3.9 United Kingdom

      10. 1.3.10 Rest of Europe

Europe Soy Protein Market Size FAQs

The Europe Soy Protein Market size is expected to reach USD 2.25 billion in 2024 and grow at a CAGR of 3.87% to reach USD 2.72 billion by 2029.

In 2024, the Europe Soy Protein Market size is expected to reach USD 2.25 billion.

Europe Soy Protein Market Report Snapshots

Europe Soy Protein Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029