Soy Food Market Size 2021 Analysis By Industry Share, Business Strategies, Emerging Demands, Growth Rate, Recent Trends, Opportunity, and Forecast to 2027
Owing to growing consumer needs and
their awareness about specialty food has grown in recent years. The growth has
been driven by the increased acceptance of free-from food amongst the
consumers. Market Research Future, a firm which specializes in market reports
related to the Food, Beverages & Nutrition sector among others, recently
forecasted in its report “Global Soy Food Market Research Report- Forecast to
2023” that the market will demonstrate an exceptional CAGR % while achieving
good growth rapidly in the forecast period.
There has been growing demand of soy
Food across the world owing to rising incidences of lactose intolerance.
According to Lactose Intolerance Global Network (LIGN), majority of the
worldwide adult population suffers from lactase deficiency, except for the
population of Northern and Central Europe. Soy milk acts an alternative to milk
and milk-based products and has become popularity among consumers who are
lactose intolerant. With growing consumer concern over animal welfare, human
health and the environment has led to the rising trend of veganism which has
become a mainstream now. Veganism is associated with variety of beneficial health
effects such as better heart health, improved diabetes, and lower rates of
obesity, among others. Israel, Sweden, Japan, Poland, U.S., Germany, and U.K.
have the largest concentration of vegans. Vegans look for animal ingredients
alternatives and replace it with vegan ingredients which drives the demand of
soy Food.
Competitive analysis:
With manufacturers aiming to capture
a considerable share of the market segment as early as possible, they are
competing and experimenting with various advantage points from both supply and
demand side. Industrial players are relying on strategic acquisition, new
product launch, partnership & collaboration to capture the growth
opportunity. New product launch & development along with expansion has
become the major strategy for key players from last few years which are
contributing the maximum share of strategy. The key market players profiled in
Soy food are Blue Diamond Growers, DuPont, Dean Food, Northern Soy, Earth's Own
Food Company, Eden Food, Freedom Food Group, Living Harvest, Kellogg, SunOpta,
Nutriops, and Pacific Food.
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Report @ https://www.marketresearchfuture.com/reports/soy-food-market-2622
The global Soy Food Market has been divided into type,
distribution channel, category, application, and region.
On The Basis Of Type: Soy milk, Soy sauce, Miso, Tempeh,
Tofu, and Others
On The Basis Of Distributional
Channel: Store
based, and Non-store based
On The Basis Of Category: Conventional, and Organic
On The Basis of Application: Food & Beverages (bakery and
confectionary, meat products, functional Food, dairy products, and infant
Food), Feed, Nutraceuticals, and Others
On The Basis Of Region: North America, Europe, Asia Pacific
and ROW.
Region
Analysis
The global Soy
Food Market is segmented into North America, Europe, APAC, and Rest of the
World (RoW). Global Soy Food Market is highly dominated by North America
followed by Europe. The U.S. registered for a higher consumption of soy food
and it will be the major revenue contributor in the North American region.
Furthermore, increasing demand for soy Food in convenience food category and
rising awareness about the benefits of soy Food among consumers in developing
countries such as India, China Japan, and Brazil are likely to boost the growth
of the Soy Food Market during the forecast period. India, US, Brazil, China and
Argentina are the major producers and exporters in the soy market.
NOTE: Our Team of Researchers are Studying Covid19
and its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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