Asia Pacific Soy Food Products market size was around USD XX billion in 2022. It is expected to grow at a CAGR of XX% to reach USD XX billion by 2027
Soy products are made from soybean. They are an alternative for milk and milk products like cheese, yoghurts, flavoured milk, and spreads. Soy products also act as an alternative for meat products, as well as vegan diets. They are rich in protein content and provide Amino Acids that are vital for the body. Soy contains two types of fatty acids viz., omega-3 and omega-6 fatty acids. Soybean was first cultivated in China from where it spread to other parts of Asia and the world. Soybeans are used to prepare a variety of food products such as Tofu, tamari, soymilk, soy flour, tempeh and others. Soymilk is produced after soaking soybeans in water. Tofu is a cheese-like food made after curdling the soymilk and is a near perfect alternative for cheese for lactose intolerant people. Tamari or soy sauce is prepared by fermenting soybeans and is used as flavouring agent.
Primary driver of the soy market is the growing health awareness among individuals as soy has relatively less calories and various health benefits. Secondary driver is growing lactose intolerance among the individuals which causes them to consume soy products instead of milk and its products. The majority of lactose intolerant individuals are found in Europe, Africa, Asia, and US. Several flavours that are added to soy products raise their appeal and demand among the consumers. Another driver for soy is its price: the prices of soy products are significantly lower than that of milk products. This attracts more customers towards the products.
The market is segmented on the
basis of type
application
By application it is segmented into
food and beverages
feed
Pharma
By type
food products
additives
oils
Food products are further segmented
fermented (Soy sauce, Natto, Tempeh, Miso, Soy cheese, Soy youghurt, Soynut butter, Tuba, Soy mayonnaise, Others)
non-fermented (Soy flour, Soy fibre, Soy grits, Soymilk, Soynuts)
Additives are further segmented
Soy protein concentrate
Soy protein isolates
textured soy protein
Oils are further segmented into
Sobean oil
Lecithin
others
Asia Pacific Soy Food Products market geographical Analysis
India
China
Japan
Korea
Asia-Pacific is most dominating geography in the market. Soybean Food Products Market in Asia Pacific are projected to be fastest growing geographies in soy food products market. Whole soy food product is the largest and fastest growing market category.
ADM Inc
Solbar Ltd.
Cargill Inc.
DuPont Solae
Northern Soy Inc.
Whole Soy & Co.
The Scoular Company
Linyi Shansong Biological Products Co. Ltd.
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