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The global soy food market reached a value of US$ 44.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 60.7 Billion by 2027, exhibiting at a CAGR of 4.92% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Soybean is a type of legume, native to East Asia, which is low in saturated fats but high in protein, vitamin C and folate. It is a good source of iron, fiber, calcium, magnesium, potassium, phosphorus and omega-3 fatty acids. As a result of its nutrient content, it offers various health benefits such as lowering the blood cholesterol level, increasing bone density and minimizing the risk of developing cancer. It is widely used as an alternative of meat in several dishes and is added in various vegan-friendly food products. The rising demand for plant-based foods is strengthening the growth of the soy food market across the globe.
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Soybean is used for preparing numerous products including soymilk, soy flour, tofu, tamari, tempeh, edamame, miso, natto and teriyaki. Currently, the demand for tofu is rising around the world, especially among the vegan and vegetarian population. It is an excellent substitute for cheese, which can be consumed by lactose intolerant consumers. The growing sales of tofu can also be accredited to its resemblance to meat in its form, color, taste and texture. Apart from this, other soy food products such as snacks and beverages are also experiencing steady growth in their demand worldwide on account of the growing health awareness among consumers. Further, manufacturers are investing in research and development activities to introduce new variants of soy food products to expand their product portfolio and attract new consumers.
IMARC Group provides an analysis of the key trends in each sub-segment of the global soy food market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, category, distribution channel and end-use.
Breakup by Product Type:
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Breakup by Category:
Breakup by Distribution Channel:
Breakup by End-Use:
Breakup by Region:
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Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players Blue Diamond Growers, Dean Foods, Earth's Own Food Company, Eden Foods, Freedom Foods Group, Harvest Innovations, House Foods America Holding, Archer Daniels Midland, Miracle Soybean Food International Corp, Cargill, Nordic Soya Oy, Victoria Group, Hain Celestial, Adisoy Foods & Beverages Pvt. Ltd., etc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Category, Distribution Channel, End-Use, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Blue Diamond Growers, Dean Foods, Earth's Own Food Company, Eden Foods, Freedom Foods Group, Harvest Innovations, House Foods America Holding, Archer Daniels Midland, Miracle Soybean Food International Corp, Cargill, Nordic Soya Oy, Victoria Group, Hain Celestial, and Adisoy Foods & Beverages Pvt. Ltd. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global soy food market was valued at US$ 44.7 Billion in 2021.
We expect the global soy food market to exhibit a CAGR of 4.92% during 2022-2027.
The shifting consumer inclination from high-calorie food items towards a protein-rich diet, including soy-
based food items, is primarily driving the global soy food market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of
soy-based food products.
Based on the product type, the global soy food market has been segregated into Textured Vegetable
Protein (TVP), soy milk, soy oil, tofu, and others. Among these, tofu currently exhibits a clear dominance
in the market.
Based on the category, the global soy food market can be bifurcated into organic and conventional.
Currently, conventional holds the majority of the global market share.
Based on the distribution channel, the global soy food market has been categorized into supermarkets
and hypermarkets, departmental stores, convenience stores, online, and others. Among these,
supermarkets and hypermarkets currently represent the largest market share.
Based on the end-use, the global soy food market can be divided into dairy alternatives, meat
alternatives, bakery and confectionary, functional foods, infant nutrition, and others. Currently, the
bakery and confectionary segment accounts for the majority of the total market share.
On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East
and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global soy food market include Blue Diamond Growers, Dean Foods,
Earth's Own Food Company, Eden Foods, Freedom Foods Group, Harvest Innovations, House Foods
America Holding, Archer Daniels Midland, Miracle Soybean Food International Corp, Cargill, Nordic Soya
Oy, Victoria Group, Hain Celestial, Adisoy Foods & Beverages Pvt. Ltd., etc.
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