This market research report presents a detailed segmentation of the soy market in the US by product types such as whole soy food, soy additives, and soy oil. A comprehensive analysis of the leading vendors such as Archer Daniels Midland, Cargill, DuPont, White Wave, and Hein Celestial is also included.
Technavio’s market research analysts estimate the soy food market in the US to grow at a CAGR of around 3% between 2015 and 2019. The efficient production and bulk transportation of soybeans are the primary drivers of the growth of this market. Soy protein ingredient is one of the most efficient protein ingredient catering to a variety of food products such as meat, cereals and baked goods.
The new market research report from Technavio provides a breakdown and analysis of the soy foods segments by technology.
“The rising trend of a fiber rich diet in the US is expected to contribute to the market growth. The rise in obesity has led to a shift towards healthy snacks in the region. Soy products are a cost effective protein and act as a perfect substitute. Also, the vendors in the market have started developing healthy soy based products. According to a survey by the US Soybean Board, around 75% of the consumers perceive soy food as healthy,” says Arushi Thakur, Industry Manager, Food & Beverages, Technavio Research.
Technavio’s analysts expect the soy oil segment to dominate the soy market in the US and reach a market value of USD 8 billion by the end of 2019. The rising demand is attributed to the increased use of soybean oil as a vegetable oil. The nutritional benefits of this oil are also one of the main factors for the increasing popularity. It is low in saturated fat and is a primary source of omega three fatty acids and Vitamin E.
The top companies in the soy food market in the US include Archer Daniels Midland, Cargill, DuPont, White Wave and Hein Celestial. The market is highly concentrated due to the presence of leading vendors operating in the US market. With the rising competition, manufacturers are developing new protein products to meet the increasing demand for tastier and healthier protein food among the customers. The market is expected to witness intense competition during the forecast period, with several product launches, price wars, mergers and acquisition to be drivers for many key companies.
A more detailed analysis is available in the Technavio report, Soy Food Market in the US 2015-2019.
We can customize reports by other regions and specific segments upon request.
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