This industry research report includes a detailed segmentation of the global soy food market by product type (whole soy food, soy additives, and soy oil) and by distribution channel (hypermarkets and supermarkets, food specialists, convenience stores, online retailers, and others). It also outlines the market shares for key regions like the Americas, APAC, and EMEA. Some of the top vendors analyzed in this market research are ADM, Cargill, The Hein-Celestial Group, and WhiteWave Foods.
Technavio’s market research analysts estimate the global soy food market, which is expected to grow at a CAGR of 6% between 2016 and 2020. The demand for soy food has increased owing to soy’s numerous health benefits. Soy food is rich in fiber and a great source of proteins and nutrients, such as vitamin B and omega-3 fatty acids. The ability of soy protein to increase the bone density and reduce the risk of heart failure and breast cancer will result in its increased consumption during the forecast period. APAC leads the global soy food market, accounting for 43% of the total market share. Widespread use of soy and soy products, coupled with the increased disposable income of consumers, has resulted in huge demand for soy food products in the region.
The new market research report from Technavio provides a breakdown and analysis of the soy food segments by technology.
“The growing consumption of soy products has compelled manufacturers to develop new products with different flavors. Creating a beverage that has high nutritional content, smooth texture with good flavor, and attractive color has become the major focus of manufacturers. For instance, Alpro brand has introduced soy milk in chocolate and vanilla flavors to attract young consumers. Since soy milk provides an alternative to milk and milk-based products, its popularity among consumers who are lactose intolerant will increase during the forecast period,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
The whole soy food segment is the highest revenue generating segment in the soy food market. Whole soy food is becoming popular due to its immense health and nutritional benefits. It is an excellent source of fibers, enriched calcium, and essential minerals like zinc, magnesium, iron, and selenium. Since it contains all the essential amino acids needed for human nutrition, its rate of adoption among consumers will increase rapidly until 2020.
The leading vendors in the global soy food market are ADM, Cargill, The Hein-Celestial Group, and WhiteWave Foods. This market is fragmented because of the presence of numerous small and large vendors. Due to the rising level of competition, the providers in this market have been compelled to develop new protein products to meet the increasing demand for tastier and healthier protein-based food products. Factors such as new product launches, price wars, and increasing mergers and acquisition will foster the level of competition in this market.
A more detailed analysis is available in the Technavio report, Global Soy Food Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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