Expanding Horizons: The Soybean Food & Beverage Products Market Surges in Response to Growing Health and Sustainability Trends
As per the report by MarketsandMarkets, the global Soybean Food & Beverage Products Market size is projected to reach $68.3 billion by 2027, at a CAGR of 5.8% during the forecast period, 2022-2027
Chicago, Oct. 18, 2023 (GLOBE NEWSWIRE) — The Soybean Food & Beverage Products Market refers to the segment of the food industry that focuses on products made from soybeans. This market includes a wide range of food and beverage items produced using soybeans as a primary ingredient. Soybeans are a versatile crop that can be used to create various food and beverage products due to their rich nutritional profile and versatility. Some common products within this market include soy milk, tofu, tempeh, soy-based meat alternatives, soy-based snacks, soy-based desserts, and more.
What is the global market report for soybeans?
The global soybean food and beverage products market is estimated to be valued at US$51.4 billion in 2022. It is projected to reach US$68.3 billion by 2027, recording a CAGR of 5.8% during the forecast period. The global soybean food and beverage products market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries.
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Soybean Food & Beverage Products Market Scope:
|Market Size Value in 2022||USD 51.4 billion|
|Revenue Forecast in 2027||USD 68.3 billion|
|Growth Rate||CAGR of 5.8% from 2022 to 2027|
|Forecast period considered||2022-2027|
Who are the top soybean food & beverage products market manufacturers?
List of Top Companies Operating in the Soybean Food & Beverage Products Market Worldwide:
- Willmar International Limited (Singapore)
- Cargill, Incorporated (US)
- CHS Inc (US)
- ADM (US)
- Kikkoman Group (Japan)
- Alpro (Belgium)
- Barentz (Netherlands)
- Eden Food (US)
What is the global demand for soybeans?
The soybean food and beverage products industry is growing fast. Opportunities arise since soybeans can be a significant protein and vegetable oil source for the average person. Soybeans include 38% protein, 18% oil, 35% carbs, and 5% minerals in terms of their nutritional makeup. The creation of new food products involves both creativity and science. According to a report published by the US National Library of Medicine in 2020, most humans lose about 65% of their capacity to digest lactose; soy-based products are a good alternative. So, eating soybeans can be helpful in these situations.
Which segment of the soybean food & beverage products market is expected to grow rapidly?
The diversity of ingestible forms and the nutritive content of soy food products is driving the growth of soy food products. As people transition to healthy eating practices, soy food items are a suitable replacement for diets rich in dairy, beef, and poultry. Soyfoods are suitable for modern lifestyles. Soyfoods are commonly available in grocery shops, affordable, and offer options that are shelf stable. Because of their adaptability, soy components enable specialized diets including dairy-free, low-cholesterol, vegan, and diets high in protein. To increase the nutritional value while preserving the flavor and texture of the original recipe, TSP (Textured Soy Protein) can be readily added to popular vegan and vegetarian food products like plant-based chili mixes, sauces, burgers, tacos.
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What are the driving factors of the soybean food & beverage products market?
- Health and Nutrition Trends: Growing awareness of the health benefits of soybean-based products has increased consumer interest. Soybeans are a good source of plant-based protein, and they contain essential amino acids, fiber, and various vitamins and minerals.
- Rising Health Concerns: Health-related concerns, such as lactose intolerance and allergies, have led consumers to seek alternatives to dairy and animal-based products. Soy-based products often serve as substitutes.
- Vegan and Vegetarian Diets: The increasing adoption of vegan and vegetarian diets has driven demand for soy-based products as they provide protein and serve as meat alternatives.
- Sustainability and Environmental Awareness: Soybeans are considered a more environmentally friendly source of protein compared to meat production, as they generally have a lower carbon footprint and water usage. This aligns with the sustainability goals of many consumers.
- Allergen-Free Options: Soy-based products are often used as allergen-free alternatives to common allergenic ingredients, like dairy, nuts, and gluten.
- Functional Ingredients: The development of soy-based products with added functional ingredients, such as probiotics, vitamins, and minerals, has expanded the market to appeal to consumers seeking specific health benefits.
Which region is witnessing the highest growth rate in the soybean food & beverage products market?
A growing number of customers now believe that plant-based meals are healthier than animal-based foods, which has caused a movement away from traditional dairy products like cow milk and toward plant-based alternatives. Additionally, an increasing number of consumers are being persuaded by worries about animal welfare to pick plant-based beverages and other consumables over those made from animals. The growing number of health-conscious consumers and the numerous health benefits of soy milk, including lower cholesterol and a decreased risk of heart disease, are further market drivers. The market for soy food and beverages is being driven by consumers’ growing preference for goods that are protein-rich, low in calories, and free of artificial additives. Vegetable or mixed proteins are available in plant-based beverages, satisfying the growing demand for a healthy lifestyle. To satisfy their desire for novelty and variety, customers who are interested in health and wellbeing are increasingly looking for lactose-free dairy substitutes made from plant sources.
Soy Protein Ingredients Market
Plant-based Protein Market
Protein Ingredients Market
- Detailed analyses and profiling of additional market players (up to five)
- Further breakdown of the Rest of Europe market for soybean food and beverage products into the Switzerland, Greece, Poland, Denmark, and other EU and non-EU countries
- Further breakdown of the Rest of South America market for soybean food and beverage products into Colombia, Peru, Paraguay, Chile, and Venezuela
- Further breakdown of other countries in the Asia Pacific market for soybean food and beverage products into Malaysia, Thailand, Singapore, Indonesia, Philippines, Vietnam, and other ASEAN countries
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