Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Soy Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The latest industry research focusing on the Soy Food Market offers valuable insights into the significant trends and opportunities shaping the industry. This analysis presents an in-depth evaluation of the market's current status and its projected expansion from 2023 through 2028. With a recorded market size of US$ 47.1 billion in 2022, the soy food segment is anticipated to reach a valuation of US$ 62.4 billion by 2028. The market is expected to experience a steady Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period.
Owing to a growing emphasis on health and nutrition, consumers are increasingly turning to soy-based products. This shift is largely influenced by the diverse health benefits of soy foods, which include their role in lowering blood cholesterol, enhancing bone density, and reducing the risk of certain cancers. Soybeans, the market's foundational ingredient, are heralded for their rich protein content and essential nutrients.
Within the market, various products such as soymilk, soy flour, tofu, and tempeh are gaining popularity. Tofu, particularly, stands out for its meat-like qualities, making it a favored choice among vegan and vegetarian consumers. Subsequently, the rising demand for plant-based proteins has catalyzed growth in the soy food industry, with innovative product introductions and increased consumer acceptance.
Market Segmentation Insights
The report offers a detailed analysis of the market, diving into key segments that include product type, category, distribution channel, and end-use:
- Textured Vegetable Protein (TVP)
- Soy Milk
- Soy Oil
- Tofu
- Other soy-based products
Furthermore, the market is examined through lenses of organic and conventional categories, with distribution channels covering supermarkets, hypermarkets, departmental stores, online platforms, and other outlets. End-users are comprehensively profiled with dairy and meat alternatives, bakery and confectionery, functional foods, infant nutrition, and other applications.
This expansive research deciphers regional market trends with a global perspective, including detailed coverage of key areas like Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. The document shares insights into the factors propelling market growth, elucidates the impact of the COVID-19 pandemic on the soy food industry, and discusses evolutionary market trends.
Competitive Landscape and Market Players
The industry's competitive terrain is mapped out, highlighting leading companies that are influencing market dynamics. These key players are distinguished by their innovative product offerings and strategic market positioning.
Companies Mentioned
- 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.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $47.1 Billion |
| Forecasted Market Value (USD) by 2028 | $62.4 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/c2jida
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