Soy Food Products Market Scope
Increasing awareness about health benefit will help to boost the global soy products market in the forecasted period. Soy food products are prepared by processing Soybeans. It contains high protein and fiber content. The growing demand for soy food products due to the lack of cholesterol. These products are used as a substitute for milk and milk products including cheese, yogurts, flavored milk, and spreads. The growing popularity of vegan diets, increasing health benefits such as increasing bone density. These are key drivers of soy food products market.
According to AMA, the Global Soy Food Products market is expected to see growth rate of 5.62% and may see market size of USD53.64 Million by 2026.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Soy Food Products market throughout the predicted period.
Archer Daniels Midland (United States), Cargill, Incorporated (United States), Hain Celestial Group (United States), Miracle Soybean Food International Corp. (Philippines), Nordic Soy Oy (Finland), Freedom Food Group (Australia), Victoria Group (Serbia), E. I. du Pont de Nemours and Company (DuPont) (United States), Northern Soy, Inc.(United States) and Scoular Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Linyi Shansong Biological Products Co.,Ltd. (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Soy Food Products market by Type (Textured Vegetable Protein [TVP], Soy Milk, Soy Oil, Tofu and Others), by Application (Bakery Products, Confectionaries, Meat Products, Functional Foods, Dairy Products, Infant Foods and Others) and Region with country level break-up.
On the basis of geography, the market of Soy Food Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Asahi has introduced plant-based variant of its cultured milk drink – Calpis – that contains soy milk rather than regular milk.
Frutarom has launched Organic SoyLife, a new array of organic soy ingredients. Organic SoyLife is derived from soy germ and has received BE-BIO-01 organic certification by Certisys
Market Trend
- Rising Use of Organic Preservatives and Flavors in Manufacturing Soy Products
- Technological Advancements in Manufacturing of Soy Food Products
Market Drivers
- Adopted as One of the Favorable Substitutes to Conventional Milk
- Increasing Adoption of Vegan Food Substitutes across the Globe
Opportunities
- Escalating Consumption of Healthy Food Products
- Introduction to Distinct Flavors Escalating the Demand for Soy Food Products
Restraints
- Availability of Numerous Cheaper Food Substitutes
- Stringent Government Regulations related to Food Product Manufacturers
Challenges
- Volatile Raw Material Prices might Imbalance Pricing Strategies
- Continuously Changing Consumer Preferences
Key Target Audience
Soy Food Products Manufacturers, Soy Food Products Distributors and Traders, Food Product Industry Associations, Upstream and Downstream Buyers, Government Agencies, Research and Development Institutes and Others