Soy Food Products Market Volume Analysis Report 2020-2025:
Soy Food Products Market has been valued at about USD 38.7 Billion in 2018. Considering the varied growth factors, it is estimated that the market is going to be worth about 51.2 billion USD by the end of 2024 with a CAGR of 5.5%. Soy Foods are derived from soybean that contains high levels of proteins. It contains high levels of amino acids that are essential for building body tissues and as nutrition supplements, high fibre as well as omega 3 and omega 6 fatty acids. Soy Products can be converted into a wide range of food products such as tofu, tamari, tempeh, soy flour, and soymilk. Another advantage offered is it being cholesterol-free and having low levels of saturated fats. Some of the products made using soy serve as substitutes for milk products like tofu for cheese. Soy has diverse applications including baked goods, pasta, cereals and meat products. Health benefits offered by soy at low costs attract consumers and will be a major factor in driving the market.
The primary driver of the soy market is the growing health awareness among individuals as soy has relatively fewer calories and various health benefits. A 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 the 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.
Primary restraints of the soy market are the absence of calcium. These products have artificial calcium added to them which is of relatively less nutrient value.
Market Growth
Soy is used as a dietary addition in many end-use industries such as sports and nutrition, infant foods, bakery goods, meat extenders etc. Soy in the market in terms of volume amounts to nearly 70-80 million tonnes globally. Due to the availability of soy at a lower cost, it is a good alternative to other sources of protein like milk and meat products. The health benefits offered by soy-based products such increase in bone density, provision of vitamins K1, B12 and B6, maintenance of heart health, breast cancer prevention in women, high content of fibre, omega 3 fatty acid, vitamin C and folate and provision of minerals like iron, phosphorus, manganese, copper, and zinc will fuel the demand for soy over the forecast period. The side effects of soy consumption such as increased incidence of heart failure, high blood sugar levels, low calcium and digestion problems will kidney patients can hamper the growth of the market. New innovations and diversification of portfolio carried out by key players will drive the market demand in the coming years.
Impact of COVID-19:
The COVID-19 pandemic has affected markets all around the world. Although most of the markets have experienced a sharp decline in growth rate, the market for soy food products is predicted to experience a spike in growth rate. Protein-based supplements as immunity boosters are finding immense demand, where soy products will become crucial. The call for functional foods is likely to skyrocket owing to the consumers’ preference for nutrient-rich foods during the coronavirus pandemic. Also, the decline in the consumption of animal meat is determined to accelerate the growth of plant-based proteins in the future. Moreover, the pandemic would also raise more awareness about the importance of a healthy lifestyle and healthy food amongst consumers, which would lead to an increase in demand for soy-based products.
Recent Developments
Drivers
Restraints
Market Detailed Segmentation Analysis:
By Type
Out of these, soy oils hold a large market share. Fermented is expected to be the most promising sector over the forecast period. The rising demand for downstream applications is touted to fuel the demand in this market segment.
By Application
Out of these, the use of soy is more popular in products like dairy and meat products alternatives. Due to associated health benefits available at low cost, Soy Food Products market is expected to witness an upsurge. Growth in the functional foods sector is also estimated over the forecast period.
Regional Clasification:
In terms of geography, the market for soy food products is concentrated in
The Asia Pacific the most prominent region in terms of market share followed by Europe and North America. Major countries in these regions include Japan, China, India, Australia and New Zealand, Germany, France, UK, Italy, Spain, US, Canada, Brazil, Argentina and Mexico. Dominant regions in terms of global soy food product market share in the Asia Pacific are India, China and Japan
Soybean Food Products Market in Latin America and the Asia Pacific is projected to be fastest-growing geographies in soy food products market. The whole soy food product is the largest and fastest-growing market category.
Key Players
The main players within the market are:
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Soy Food Products Market, By Type
6.1.1 Fermented
6.1.2 Non-Fermented
6.1.3 Soy Oils
6.1.4 Soy Additives/Ingredient
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Soy Food Products Market, By Application
6.2.1 Bakery and Confectionery
6.2.2 Dairy Products
6.2.3 Meat Products
6.2.4 Functional Foods
6.2.5 Infant Foods
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 Alpro
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 ADM Company
8.3 Dean Foods Company
8.4 China Yingxia International Inc.
8.5 Barentz Europe B.V
8.6 Eden Foods, Inc
8.7 CHS Inc
8.8 Danone
8.9 Cargill, Inc
8.10 Sunrise Soy Foods
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
Related Reports
Feb 2020
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