What is Soy Foods Market Scope?
Due to increased health and benefit concerns, the global soy food industry is expected to have strong demand in the anticipated time. Soy meals are a good source of plant proteins, and they're low in saturated fats and cholesterol. Soy is also high in fiber and omega 3 fatty acids, all of which are contributing to the rise in demand for soy-based foods. Global demand will be boosted by the rising food and beverage industries around the world. The worldwide soy food products market's growth levers are the nutritional value and variety of ingestible forms. Soy food items are an excellent substitute for dairy, meat, and poultry-heavy diets as consumers shift to more health-conscious eating habits.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Billion) |
Key Companies Profiled | Archer Daniels Midland (United States), Cargill (United States), Hain Celestial (United States), DuPont (United States), Eden Foods (United States), WhiteWave Foods (United States), Blue Diamond Growers (United States), Dean Foods (United States), Freedom Food Group (United States) and Northern Soy (United States) |
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 Soy Foods market study is being classified by Type (Textured Vegetable Protein (TVP), Soymilk, Soy Oil, Tofu and Others), by Application (Bakery and Confectionary, Meat Products, Functional Foods, Dairy Products, Infant Foods and Others) and major geographies with country level break-up. According to AMA, the Global Soy Foods market is expected to see growth rate of 5.9% and may see market size of USD58.8 Billion by 2027.
The companies operating in the market are mainly concentrating on strategic collaborations and new product launches, which are expected to support market growth. Expansions, investments, new service launches, and collaborations are among the companies' favoured strategies for exploring the market. Players are expanding and acquiring businesses in new geographies around the world in order to get a competitive advantage through joint ventures. Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Soy Foods market throughout the predicted period.
Archer Daniels Midland (United States), Cargill (United States), Hain Celestial (United States), DuPont (United States), Eden Foods (United States), WhiteWave Foods (United States), Blue Diamond Growers (United States), Dean Foods (United States), Freedom Food Group (United States) and Northern Soy (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Pacific Foods (United States) and SunOpta (United States).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Soy Foods market by Type, Application and Region.
On the basis of geography, the market of Soy Foods 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). North America region held largest market share in the year 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
On 29th November 2021, DM, a global leader in nutrition and agricultural origination and processing, announced today that it has completed its acquisition of Sojaprotein, a leading European provider of non-GMO soy ingredients. The addition represents a significant expansion of ADM’s global alternative protein capabilities and its ability to meet the growing demand for plant-based foods and beverages.
The U.S. Food and Drug Administration has allowed soy products to carry claims about heart benefits since 1999. “Patients can feel confident that soy will help lower cholesterol in the same way as other FDA approved plant foods such as nuts, oats and barley, psyllium products and plant sterol margarine,”
Influencing Market Trend
- Increasing Health Awareness among Individuals
- Upsurging Demand due to Increasing Food and Beverages Industry across the World
Market Drivers
- High Demand for High Protein Food Products
- Increasing Demand due to Low Price of Soy Food as Compared to Milk Products
Opportunities
- Increasing Demand for Vegan and Vegetarian Products among the Consumers
- Growing Intolerance for Lactose among the Individuals
Restraints
- The Growing Awareness Regarding the Negative Impact of Consumption of Soy
Challenges
- The Growing Concern due to Absence of Calcium
Analyst View
While customers have been gravitating toward health-focused products for some time, the COVID-19 epidemic has given the trend a boost. Many of the world's largest meat facilities have been shut down as a result of statewide lockdowns in various nations to prevent the spread of the coronavirus. Consumers are turning to plant-based meat products as a result of the possibility for meat supply scarcity, with meat alternatives such as tofu seeing phenomenal sales in developed nations. In the midst of the pandemic, such tendencies are acting in favour of the soy food products sector.
Key Target Audience
Soy Products Providers, Distributors, Government Regulatory Bodies, Government Research Organizations, Private Research Organizations and Others
Customization available in this Study:
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