Industry Background:
Soy Snacks is made using soybeans and other ingredients. Extrusion-cooking has found widespread application in the cereal-based snack food industry, because of its ease of operation and its ability to produce a number of consumer-appealing textures and shapes. Changes in eating patterns in developed and developing economies are occurring due to the increasing disposable income of people and this is anticipated the growth of the soy snacks market in the forecast period.
According to AMA Research, the market for Soy Snacks is expected to register a CAGR of 2.0% during the forecast period to 2030. This growth is primarily driven by Growing Urbanization, Globalization, and Demographic in Emerging Economies
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | kg |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Archer Daniels Midland Company (United States), SunOpta (Canada), GoodSoy (Brazil), Miracle Soybean Food International Corp (Philippines), Cargill, Incorporated (United States), Suzhou Youi Group (China), Fantastic Snacks (Australia), Nordic Soya Oy (Finland), Eden Foods (United States) and Proti Food (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In September 2022, Otsuka Pharmaceutical Co., Ltd. introduced SOYJOY Sweet Potato, a new flavor in the SOYJOY line of whole-soy nutrition bars.
On March 22, 2022, Otsuka Pharmaceutical Co., Ltd. launched SOYJOY Plant-Based, a new series in the SOYJOY line of whole-soy nutrition bars.The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies.
Influencing Trend:
Increasing Consumption of Snacks such as Cookies, Nuts, Extruded Snacks in all Age Groups Globally
Market Growth Drivers:
Growing Urbanization, Globalization, and Demographic in Emerging Economies and Increasing Demand for Convenience Foods by Peoples Special While Travelling
Challenges:
Presence of Alternative Snacks like Potato
Restraints:
Robust Competitive Rivalry Might Stagnant Demand of the Soy Snacks
Opportunities:
Manufacturer of Soy Snacks Paying Attention toward Tests, and Appealing Textures and Shapes of Snacks
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Soy Snacks Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Soy Snacks Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Soy Snacks players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Soy Snacks Study Sheds Light on
The Soy Snacks Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Soy Snacks industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Soy Snacks industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.