Global Soy Food Market Size, Insights, Drivers, Opportunities, By Product (Milk, Oil, Others), By Application (Food And Beverages, Feed, Pharma) By Region, Growth, Trends, and Forecast from 2019 to 2027
Global Soy Food Market Size, Insights, Drivers, Opportunities, By Product (Milk, Oil, Others), By Application (Food And Beverages, Feed, Pharma) By Region, Growth, Trends, and Forecast from 2019 to 2027
Historic years: 2015 to 2017 Base Year: 2018 Forecast Years: 2019 to 2027
Number of pages: 100 Category: F&B Report Id: MISFnB5007
Market Insights
The global soy food market was valued at USD 40.35 billion in 2018 and is estimated to reach a value of USD 74.96 billion in 2027. The market is analyzed to rise at a CAGR of 7.12% over the forecast period of 2019 to 2027. The major drivers affecting this growth are the increasing consumer awareness towards healthy food pattern in their daily diet. The product is a good source of dietary fiber, which reduces cholesterol, regulates the gastrointestinal system, and lowers the risk of cardiovascular diseases.Global soy food market size by region, 2018 (USD Billion)
Primary and secondary researchers have identified Blue Diamond Growers, Dean Foods, Eden Foods, Earth’s Own Food Company and Freedom Foods Group as the key players in the global soy food market. However, considering the analysis of this segment, factors like company revenue, consumer trends towards selecting a particular brand are playing a major role with the market uprise.
Other key factors playing an important role include increasing lactose intolerance at the global level. It has been observed that a large number of population across the U.S. and Europe is shifting their preference toward lactose-free food diet which is expected to boost the demand for soya products. As per the report of U.S. Library of Medicine, around 65% of the global population has a less ability to digest lactose after their infancy.
Product Insights
Milk segment was valued to be the largest product with a revenue of USD 18.12 billion in 2018. Total sugar content in soy milk is comparatively lower than cow or buffalo milk which is driving the consumer to purchase this product. The product is made with protein, fiber, and omega 3 fatty acids. Soy oil is estimated to be the fastest-growing segment from 2019 to 2027. In terms of production, the U.S. is the largest soybean oil manufacturer in the World. It accounts for around 23% of global production followed by China, Argentina, and Brazil who accounted for around 21%, 18%, and 16% respectively.Application Insights
Food and beverage segment was valued to be the largest segment in 2018. Companies are introducing much soy-based product in the market. Consumer prefers to consume food enriched with soy protein which is good for health. Pharma application is estimated to be the segment, expected to grow at a CAGR of 8.57% over the forecasted period of 2019 to 2027. It has anti-spasmodic, sedative, anti-pyretic properties, diaphoretic, with hormonal balancing effects, which have the ability to prevent prostate cancer, breast cancer, baldness, and endometrial cancer.Global soy food market share by application, 2018 (%)
Regional Insights
Asia Pacific is estimated to be the largest and fastest-growing region. As of 2018, this region accounts for over 40% share of the global market. Soy is the ancient food of this region. China and Japan are the top consumers. China has a large animal feed industry which highly depends on soya food. North America is the second-largest market. Growing vegan population is attributing to the sales of alternative product to meat.Competitive Landscape
The global soy food market is fragmented by nature with the presence of many private level players. Leading market players are investing in their R&D to increase their revenue. Merger and acquisition strategy is also taken by top players. For instance, in 2018, Archer Daniels Midland Co. has acquired Aston.Research Methodology
The following report consists of market analysis including both primary and secondary research. Primary research comprises the interaction between manufacturers, industry experts, and channel partners, while the secondary research presents an analytical interpretation of relevant published database, which contains details like proprietary databases, purchased database, company annual reports, and financial reports. For a single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an inquiry for the pricing details.About Us
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Product Outlook- Milk
- Oil
- Others
- Food and beverages
- Feed
- Pharma
- North America
- U.S
- Canada
- Mexico
- Europe
- U.K
- France
- Germany
- Asia Pacific
- China
- India
- Australia
- Central & South America
- Brazil
- Middle East & Africa
- All market drifts, drivers and opportunities
- Understanding the dynamics of the parent market
- Prime fluctuations of the business dynamics
- Historical, current, and projected size of the market with respect to production and sales
- Segmentation and comprehensive analysis in the second or third level
- Reporting and evaluation of recent industry developments
- Detailed profiling of leading companies
- Opportunities to newer trends in global, regional and country markets
- Analyzing the trajectory line of the business
- Measures to consider for soy food products in the industry