The Soybean Food And Beverage Products Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Soybean Food And Beverage Products
Global Market Report 2024, The soybean food and beverage products market size
has grown strongly in recent years. It will grow from $53.03 billion in 2023 to
$55.86 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The
growth in the historic period can be attributed to rise in health
consciousness, heart health benefits, dairy alternatives, government support
for soy cultivation, globalization of food markets.
The soybean food and beverage products market size is expected to see strong
growth in the next few years. It will grow to $69.9 billion in 2028 at a
compound annual growth rate (CAGR) of 5.8%.
The growth in the forecast period can be attributed to plant-based diet
movements, functional beverage growth, expanding applications in food
processing, increasing nutritional fortification, rise in allergen-free
products, e-commerce expansion. Major trends in the forecast period include
innovation in soy protein isolates, clean label and non-gmo trends, soy
beverages and milk alternatives, sustainability and ethical sourcing.
The increasing demand for vegan food is expected to propel the growth of the
soybean food and beverages market going forward. Vegan food refers to food that
is made without any animal products or byproducts and it promotes the use of
cruelty-free and sustainable alternatives. Soybean is one of the versatile
ingredients that can be used in a wide range of vegan foods, and it provides a
high-quality, plant-based protein option. For instance, in March 2022,
according to the data reported by Plant Based Foods Association (PBFA), a
US-based organization and Good Food Institute (GFI), a US-based non-profit
organization indicates that the plant-based food industry in the US experienced
a six percent growth in 2021, which is three times faster than the overall
growth rate of the food industry, bringing the total market size of the
plant-based food industry to $7.4 billion. Therefore, the increasing demand for
vegan food drives the soybean food and beverages market.
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The soybean food and beverage products market covered in this report is
segmented –
1) By Type: Soybean Food Products, Soybean Additives/Ingredients, Soybean Oil
2) By Source: Genetically Modified (GM), Non-Genetically Modified (Non-GM)
/Genetically Engineered (GM)
3) By Distribution Channel: Supermarkets, Hypermarkets, Specialty Stores,
Online Retailers, Convenience Stores, Departmental Stores, Other Distribution
Channels
4) By Applications: Bakery And Confectionery, Animal Feed, Dairy Products,
Functional Food And Supplements, Meat Products, Infant Foods, Other
Applications
Product innovation is the key trend gaining popularity in the soybean food and
beverage products market. Major companies operating in the soybean food and
beverage products market are focusing on developing innovative soybean food and
beverage products for consumers to benefit from soybeans’ health benefits. For
instance, in March 2022 Otsuka pharmaceuticals co. ltd., a Japan-based
pharmaceutical company launched SOYJOY, a series of innovative whole-soy
nutrition bars. The product integrates fruits, nuts, and other components into
a gluten-free dough made from whole soybean flour, resulting in a diverse range
of foods with distinct textures and flavors. This product supports healthy,
positive between-meal consumption with the new added value of a plant-based
lineup, providing a quick, delicious, and fun method to make use of soy, a
representative source of plant protein.
The soybean food and beverage products market report table of contents
includes:
1. Executive Summary
2. Soybean
Food And Beverage Products Market Characteristics
3. Soybean
Food And Beverage Products Market Trends And Strategies
4. Soybean
Food And Beverage Products Market - Macro Economic Scenario
5. Global
Soybean Food And Beverage Products Market Size and Growth
.
32. Global Soybean Food And Beverage Products Market Competitive Benchmarking
33. Global
Soybean Food And Beverage Products Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Soybean Food And Beverage Products Market
35. Soybean
Food And Beverage Products Market Future Outlook and Potential Analysis
36.
Appendix
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