Soy Food Market Size, Share, Analysis and Forecast 2021-2026

Press Release:

Global Soy Food Market to Reach US$ 53.1 Billion by 2024, Induced by a Shift Toward Plant-based Diets

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Soy Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global soy food market reached a value of US$ 42.1 Billion in 2020. 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.

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. Looking forward, IMARC Group expects the global soy food market to exhibit moderate growth during the next five years.

Report Coverage:

Historical, Current and Future Market Trends
Market Breakup by Product Type:
- Textured Vegetable Protein (TVP)
- Soy Milk
- Soy Oil
- Tofu
- Others
Market Breakup by Category:
- Organic
- Conventional
Market Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Departmental Stores
- Convenience Stores
- Online
- Others
Market Breakup by End-Use:
- Dairy Alternatives
- Meat Alternatives
- Bakery and Confectionary
- Functional Foods
- Infant Nutrition
- Others
Market Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America

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.

Key Questions Answered in This Report:

How has the global soy food market performed so far and how will it perform in the coming years?
What are the key regional markets in the global soy food industry?
What has been the impact of COVID-19 on the global soy food industry?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the category?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the end-use?
What are the various stages in the value chain of the global soy food industry?
What are the key driving factors and challenges in the global soy food industry?
What is the structure of the global soy food industry and who are the key players?
What is the degree of competition in the global soy food industry?
What are the profit margins in the global soy food industry?