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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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