Soy Food Market Strategic Insights 2021-2031
The Soy Food Market is expected to register a CAGR of 28.31% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Soy Food Market is categorized by type into the following subsegments: Textured Vegetable Protein (TVP), Soy Milk, Tofu, Soy Oil, and Others. It further presents an analysis based on category, i.e., Organic, Conventional; and distribution channel, i.e., Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others. The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the Report
The report Soy Food Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Soy Food Market Segmentation
Type
- Textured Vegetable Protein
- Soy Milk
- Tofu
- Soy Oil
- Others
Category
- Organic
- Conventional
Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Others
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Geography
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
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Soy Food Market: Strategic Insights
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Soy Food Market Growth Drivers
- Plant-based food demand: Products such as soy milk, tofu, and tempeh have recently become popular as plant-based protein alternatives due to the increasing popularity of vegan, vegetarian, and flexitarian diets.
- Versatile Applications: Soy is used in a broad range of goods, such as dairy substitutes soy cheese, and yogurt to meat substitutes that present a wide scope of market supply.
- Health benefits of soy: Soy contains high-quality protein and is rich in isoflavones, that may support heart health and also cut a potential risk of certain cancers, making them a health-conscious choice in the food chain.
Soy Food Market Future Trends
- Plant-based protein growth: The trend of preferring plant-based proteins translates into the development of soy-based products to near meat-like textured and flavored soy burgers and sausages, etc.
- Non-GMO and Organic Options: Consumer demand for non-GMO and organic foods is driving producers to come up with more soy products that are used in line with consumer preferences.
- Taste and texture improvement: Innovations in soy product formulations make them taste and feel more like animal-based products, thus improving their appeal to non-vegans as well.
Soy Food Market Opportunities
- Emergent market potential: As health trends and diet preferences are changing across the globe, markets in Asia, Latin America, and even parts of Africa are embracing soy as a part of their diet.
- New product innovation: This includes the possibility of formulating new soy-based products in response to the changing tastes of consumers; most common are soy-based snacks, beverages, and desserts.
- Functional foods: Soy can have extra added nutrients of omega-3 or probiotics, making inroads into the increasingly popular functional foods market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Soy Food Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Soy Food Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Future trends include innovations in soy-based snacks and beverages and increased demand for high-protein, dairy-free soy products.
Key Leaders in the Soy Food Market include: Nestle SA, Eden Foods Inc, QianNa Foodstuff Company, Wilmar International Limited, Silk, Organic Valley,
The market is expected to register a CAGR of 28.31% during 2023-2031.
Factors that have been driving the Soy Food Market include veganism, vegetarianism, and plant-based diets coupled with the nutritional value of soy.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Soy Food Market - By Type
1.3.2 Soy Food Market - By Category
1.3.3 Soy Food Market - By Distribution Channel
1.3.4 Soy Food Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SOY FOOD MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. SOY FOOD MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SOY FOOD MARKET - GLOBAL MARKET ANALYSIS
6.1. SOY FOOD - GLOBAL MARKET OVERVIEW
6.2. SOY FOOD - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SOY FOOD MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. TEXTURED VEGETABLE PROTEIN (TVP)
7.3.1. Overview
7.3.2. Textured Vegetable Protein (TVP) Market Forecast and Analysis
7.4. SOY MILK
7.4.1. Overview
7.4.2. Soy Milk Market Forecast and Analysis
7.5. SOY OIL
7.5.1. Overview
7.5.2. Soy Oil Market Forecast and Analysis
7.6. TOFU
7.6.1. Overview
7.6.2. Tofu Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. SOY FOOD MARKET - REVENUE AND FORECASTS TO 2028 - CATEGORY
8.1. OVERVIEW
8.2. CATEGORY MARKET FORECASTS AND ANALYSIS
8.3. ORGANIC
8.3.1. Overview
8.3.2. Organic Market Forecast and Analysis
8.4. CONVENTIONAL
8.4.1. Overview
8.4.2. Conventional Market Forecast and Analysis
9. SOY FOOD MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. HYPERMARKETS AND SUPERMARKETS
9.3.1. Overview
9.3.2. Hypermarkets and Supermarkets Market Forecast and Analysis
9.4. CONVENIENCE STORE
9.4.1. Overview
9.4.2. Convenience Store Market Forecast and Analysis
9.5. ONLINE STORES
9.5.1. Overview
9.5.2. Online Stores Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. SOY FOOD MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Soy Food Market Overview
10.1.2 North America Soy Food Market Forecasts and Analysis
10.1.3 North America Soy Food Market Forecasts and Analysis - By Type
10.1.4 North America Soy Food Market Forecasts and Analysis - By Category
10.1.5 North America Soy Food Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Soy Food Market Forecasts and Analysis - By Countries
10.1.6.1 United States Soy Food Market
10.1.6.1.1 United States Soy Food Market by Type
10.1.6.1.2 United States Soy Food Market by Category
10.1.6.1.3 United States Soy Food Market by Distribution Channel
10.1.6.2 Canada Soy Food Market
10.1.6.2.1 Canada Soy Food Market by Type
10.1.6.2.2 Canada Soy Food Market by Category
10.1.6.2.3 Canada Soy Food Market by Distribution Channel
10.1.6.3 Mexico Soy Food Market
10.1.6.3.1 Mexico Soy Food Market by Type
10.1.6.3.2 Mexico Soy Food Market by Category
10.1.6.3.3 Mexico Soy Food Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Soy Food Market Overview
10.2.2 Europe Soy Food Market Forecasts and Analysis
10.2.3 Europe Soy Food Market Forecasts and Analysis - By Type
10.2.4 Europe Soy Food Market Forecasts and Analysis - By Category
10.2.5 Europe Soy Food Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Soy Food Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Soy Food Market
10.2.6.1.1 Germany Soy Food Market by Type
10.2.6.1.2 Germany Soy Food Market by Category
10.2.6.1.3 Germany Soy Food Market by Distribution Channel
10.2.6.2 France Soy Food Market
10.2.6.2.1 France Soy Food Market by Type
10.2.6.2.2 France Soy Food Market by Category
10.2.6.2.3 France Soy Food Market by Distribution Channel
10.2.6.3 Italy Soy Food Market
10.2.6.3.1 Italy Soy Food Market by Type
10.2.6.3.2 Italy Soy Food Market by Category
10.2.6.3.3 Italy Soy Food Market by Distribution Channel
10.2.6.4 United Kingdom Soy Food Market
10.2.6.4.1 United Kingdom Soy Food Market by Type
10.2.6.4.2 United Kingdom Soy Food Market by Category
10.2.6.4.3 United Kingdom Soy Food Market by Distribution Channel
10.2.6.5 Rest of Europe Soy Food Market
10.2.6.5.1 Rest of Europe Soy Food Market by Type
10.2.6.5.2 Rest of Europe Soy Food Market by Category
10.2.6.5.3 Rest of Europe Soy Food Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Soy Food Market Overview
10.3.2 Asia-Pacific Soy Food Market Forecasts and Analysis
10.3.3 Asia-Pacific Soy Food Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Soy Food Market Forecasts and Analysis - By Category
10.3.5 Asia-Pacific Soy Food Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Soy Food Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Soy Food Market
10.3.6.1.1 Australia Soy Food Market by Type
10.3.6.1.2 Australia Soy Food Market by Category
10.3.6.1.3 Australia Soy Food Market by Distribution Channel
10.3.6.2 China Soy Food Market
10.3.6.2.1 China Soy Food Market by Type
10.3.6.2.2 China Soy Food Market by Category
10.3.6.2.3 China Soy Food Market by Distribution Channel
10.3.6.3 India Soy Food Market
10.3.6.3.1 India Soy Food Market by Type
10.3.6.3.2 India Soy Food Market by Category
10.3.6.3.3 India Soy Food Market by Distribution Channel
10.3.6.4 Japan Soy Food Market
10.3.6.4.1 Japan Soy Food Market by Type
10.3.6.4.2 Japan Soy Food Market by Category
10.3.6.4.3 Japan Soy Food Market by Distribution Channel
10.3.6.5 South Korea Soy Food Market
10.3.6.5.1 South Korea Soy Food Market by Type
10.3.6.5.2 South Korea Soy Food Market by Category
10.3.6.5.3 South Korea Soy Food Market by Distribution Channel
10.3.6.6 Rest of Asia-Pacific Soy Food Market
10.3.6.6.1 Rest of Asia-Pacific Soy Food Market by Type
10.3.6.6.2 Rest of Asia-Pacific Soy Food Market by Category
10.3.6.6.3 Rest of Asia-Pacific Soy Food Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Soy Food Market Overview
10.4.2 Middle East and Africa Soy Food Market Forecasts and Analysis
10.4.3 Middle East and Africa Soy Food Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Soy Food Market Forecasts and Analysis - By Category
10.4.5 Middle East and Africa Soy Food Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Soy Food Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Soy Food Market
10.4.6.1.1 South Africa Soy Food Market by Type
10.4.6.1.2 South Africa Soy Food Market by Category
10.4.6.1.3 South Africa Soy Food Market by Distribution Channel
10.4.6.2 Saudi Arabia Soy Food Market
10.4.6.2.1 Saudi Arabia Soy Food Market by Type
10.4.6.2.2 Saudi Arabia Soy Food Market by Category
10.4.6.2.3 Saudi Arabia Soy Food Market by Distribution Channel
10.4.6.3 U.A.E Soy Food Market
10.4.6.3.1 U.A.E Soy Food Market by Type
10.4.6.3.2 U.A.E Soy Food Market by Category
10.4.6.3.3 U.A.E Soy Food Market by Distribution Channel
10.4.6.4 Rest of Middle East and Africa Soy Food Market
10.4.6.4.1 Rest of Middle East and Africa Soy Food Market by Type
10.4.6.4.2 Rest of Middle East and Africa Soy Food Market by Category
10.4.6.4.3 Rest of Middle East and Africa Soy Food Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Soy Food Market Overview
10.5.2 South and Central America Soy Food Market Forecasts and Analysis
10.5.3 South and Central America Soy Food Market Forecasts and Analysis - By Type
10.5.4 South and Central America Soy Food Market Forecasts and Analysis - By Category
10.5.5 South and Central America Soy Food Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Soy Food Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Soy Food Market
10.5.6.1.1 Brazil Soy Food Market by Type
10.5.6.1.2 Brazil Soy Food Market by Category
10.5.6.1.3 Brazil Soy Food Market by Distribution Channel
10.5.6.2 Argentina Soy Food Market
10.5.6.2.1 Argentina Soy Food Market by Type
10.5.6.2.2 Argentina Soy Food Market by Category
10.5.6.2.3 Argentina Soy Food Market by Distribution Channel
10.5.6.3 Rest of South and Central America Soy Food Market
10.5.6.3.1 Rest of South and Central America Soy Food Market by Type
10.5.6.3.2 Rest of South and Central America Soy Food Market by Category
10.5.6.3.3 Rest of South and Central America Soy Food Market by Distribution Channel
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. SOY FOOD MARKET, KEY COMPANY PROFILES
12.1. ALPRO
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. ARCHER DANIELS MIDLAND COMPANY
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BARENTZ EUROPE B.V.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CARGILL, INCORPORATED
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. CHINA YINGXIA INTERNATIONAL INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. CHS INC.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. DEAN FOODS COMPANY
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. EDEN FOODS, INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. GROUPE DANONE
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. SUNRISE SOYA FOODS
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. Alpro
2. Archer Daniels Midland Company
3. Barentz Europe B.V.
4. Cargill, Incorporated
5. China Yingxia International Inc.
6. CHS Inc.
7. Dean Foods Company
8. Eden Foods, Inc.
9. Groupe Danone
10. Sunrise Soya Foods
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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