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Press Release:

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

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

Market Overview:

The global soy food market reached a value of US$ 42.1 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.2% during 2021-2026. 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.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global soy food market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on product type, category, distribution channel, and end-use.

Breakup by Product Type:

  • Textured Vegetable Protein (TVP)
  • Soy Milk
  • Soy Oil
  • Tofu
  • Others
     

Breakup by Category:

  • Organic
  • Conventional
     

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Departmental Stores
  • Convenience Stores
  • Online
  • Others
     

Breakup by End-Use:

  • Dairy Alternatives
  • Meat Alternatives
  • Bakery and Confectionary
  • Functional Foods
  • Infant Nutrition
  • Others
     

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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
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$ 2299
Five User License: US$ 3399
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)

 

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?

1   Preface
2   Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Soy Food Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Product Type
    5.5    Market Breakup by Category
    5.6    Market Breakup by Distribution Channel
    5.7    Market Breakup by End-Use
    5.8    Market Breakup by Region
    5.9    Market Forecast
6   Market Breakup by Product Type
    6.1    Textured Vegetable Protein (TVP)
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Soy Milk
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Soy Oil
        6.3.1    Market Trends
        6.3.2    Market Forecast
    6.4    Tofu
        6.4.1    Market Trends
        6.4.2    Market Forecast
    6.5    Others
        6.5.1    Market Trends
        6.5.2    Market Forecast
7   Market Breakup by Category
    7.1    Organic
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Conventional
        7.2.1    Market Trends
        7.2.2    Market Forecast
8   Market Breakup by Distribution Channel
    8.1    Supermarkets and Hypermarkets
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Departmental Stores
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Convenience Stores
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Online 
        8.4.1    Market Trends
        8.4.2    Market Forecast
    8.5    Others
        8.5.1    Market Trends
        8.5.2    Market Forecast
9   Market Breakup by End-Use
    9.1    Dairy Alternatives
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Meat Alternatives
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Bakery and Confectionary
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Functional Foods
        9.4.1    Market Trends
        9.4.2    Market Forecast
    9.5    Infant Nutrition
        9.5.1    Market Trends
        9.5.2    Market Forecast
    9.6    Others
        9.6.1    Market Trends
        9.6.2    Market Forecast
10  Market Breakup by Region
    10.1    Asia Pacific
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    North America
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Europe
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Middle East and Africa
        10.4.1    Market Trends
        10.4.2    Market Forecast
    10.5    Latin America
        10.5.1    Market Trends
        10.5.2    Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Price Analysis
    14.1    Price Indicators
    14.2    Price Structure
    14.3    Margin Analysis
15  Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Blue Diamond Growers
        15.3.2    Dean Foods
        15.3.3    Earth's Own Food Company
        15.3.4    Eden Foods
        15.3.5    Freedom Foods Group
        15.3.6    Harvest Innovations
        15.3.7    House Foods America Holding
        15.3.8    Archer Daniels Midland
        15.3.9    Miracle Soybean Food International Corp
        15.3.10      Cargill 
        15.3.11      Nordic Soya Oy
        15.3.12      Victoria Group
        15.3.13      Hain Celestial
        15.3.14      Adisoy Foods & Beverages Pvt. Ltd.

List of Figures

Figure 1: Global: Soy Food Market: Major Drivers and Challenges
Figure 2: Global: Soy Food Market: Sales Value (in Billion US$), 2015 - 2020
Figure 3: Global: Soy Food Market: Breakup by Product Type (in %), 2020
Figure 4: Global: Soy Food Market: Breakup by Category (in %), 2020
Figure 5: Global: Soy Food Market: Breakup by Distribution Channel (in %), 2020
Figure 6: Global: Soy Food Market: Breakup by End-Use (in %), 2020
Figure 7: Global: Soy Food Market: Breakup by Region (in %), 2020
Figure 8: Global: Soy Food Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 9: Global: Soy Food Industry: SWOT Analysis
Figure 10: Global: Soy Food Industry: Value Chain Analysis
Figure 11: Global: Soy Food Industry: Porter’s Five Forces Analysis
Figure 12: Global: Soy Food (Textured Vegetable Protein) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Soy Food (Textured Vegetable Protein) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Soy Food (Soy Milk) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Soy Food (Soy Milk) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Soy Food (Soy Oil) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Soy Food (Soy Oil) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Soy Food (Tofu) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Soy Food (Tofu) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Soy Food (Other Product Types) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Soy Food (Other Product Types) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Soy Food (Organic) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Soy Food (Organic) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Soy Food (Conventional) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Soy Food (Conventional) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Soy Food Market: Sales through Supermarkets and Hypermarkets (in Million US$), 2015 & 2020
Figure 27: Global: Soy Food Market Forecast: Sales through Supermarkets and Hypermarkets (in Million US$), 2021-2026
Figure 28: Global: Soy Food Market: Sales through Departmental Stores (in Million US$), 2015 & 2020
Figure 29: Global: Soy Food Market Forecast: Sales through Departmental Stores (in Million US$), 2021-2026
Figure 30: Global: Soy Food Market: Sales through Convenience Stores (in Million US$), 2015 & 2020
Figure 31: Global: Soy Food Market Forecast: Sales through Convenience Stores (in Million US$), 2021-2026
Figure 32: Global: Soy Food Market: Online Sales (in Million US$), 2015 & 2020
Figure 33: Global: Soy Food Market Forecast: Online Sales (in Million US$), 2021-2026
Figure 34: Global: Soy Food Market: Sales through Other Distribution Channels (in Million US$), 2015 & 2020
Figure 35: Global: Soy Food Market Forecast: Sales through Other Distribution Channels (in Million US$), 2021-2026
Figure 36: Global: Soy Food (Dairy Alternatives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Global: Soy Food (Dairy Alternatives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Global: Soy Food (Meat Alternatives) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Global: Soy Food (Meat Alternatives) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Global: Soy Food (Bakery and Confectionary) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Global: Soy Food (Bakery and Confectionary) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Global: Soy Food (Functional Foods) Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: Global: Soy Food (Functional Foods) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Global: Soy Food (Infant Nutrition) Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Global: Soy Food (Infant Nutrition) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Global: Soy Food (Other End-Uses) Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Global: Soy Food (Other End-Uses) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Asia Pacific: Soy Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Asia Pacific: Soy Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: North America: Soy Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: North America: Soy Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Europe: Soy Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Europe: Soy Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Middle East and Africa: Soy Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: Middle East and Africa: Soy Food Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Latin America: Soy Food Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: Latin America: Soy Food Market Forecast: Sales Value (in Million US$), 2021-2026

List of Tables

Table 1: Global: Soy Food Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Soy Food Market Forecast: Breakup by Product Type (in Million US$), 2021-2026
Table 3: Global: Soy Food Market Forecast: Breakup by Category (in Million US$), 2021-2026
Table 4: Global: Soy Food Market Forecast: Breakup by Distribution Channel (in Million US$), 2021-2026
Table 5: Global: Soy Food Market Forecast: Breakup by End-Use (in Million US$), 2021-2026
Table 6: Global: Soy Food Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Soy Food Market Structure
Table 8: Global: Soy Food Market: Key Players

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Key Question Answered in this Report

The global soy food market was valued at US$ 42.1 Billion in 2020.

We expect the global soy food market to exhibit a CAGR of 5.2% during 2021-2026.

The shifting consumer inclination from high-calorie food items towards a protein-rich diet represents one of the key factors 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 can be segregated into Textured Vegetable Protein (TVP), soy milk, soy oil, tofu, and others. Among these, soy oil currently exhibits a clear dominance in the market.

Based on the category, the global soy food market has been bifurcated into organic and conventional. Currently, conventional holds the majority of the total market share.

Based on the distribution channel, the global soy food market can be categorized into supermarkets and hypermarkets, departmental stores, convenience stores, online, and others. Among these, supermarkets and hypermarkets represent the largest segment.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, 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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