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Market research analysts at Technavio predict that the global soy food market will grow steadily at a CAGR of around 7% by 2021. The rising health concerns are driving people to make changes to their diets and follow healthier alternatives. Soy is widely used as a substitute to animal protein due to its high nutritional value and best amino and protein profile as it contains all three macronutrients, essential amino acids, and several minerals. Additionally, the consumption of soy also leads to cosmetic benefits as it moisturizes the skin, contains anti-aging properties, and restores the shine in hair. Soy is also popularly known to lower cholesterol levels, reduce hypertension, lower the risk of few types of cancers, regulate glucose levels in people with diabetes, increase bone density, and promote weight loss. Such health benefit will increase the consumption of soy foods around the globe, consequently fueling market growth.
APAC will be the major revenue contributor to the soy food market throughout the forecast period. This will mainly attribute to the rise in demand for soy food and products such as such as soymilk and soy sauce in countries such as China and India. Moreover, the economic improvements and the increasing awareness about the health benefits of soy food and beverage products, will also drive the demand for soy foods in this region.
The soy food market has immense growth potential and the major market players focus on offering an extensive range of soy foods to acquire the maximum market shares. The market is quite competitive and the soy food manufacturers mainly compete on factors such as price, product differentiation, quality, distribution, and product promotions.
The leading vendors in the market are -
The other prominent vendors in the market are Blue Diamond Growers, Dean Foods, DuPont, Eden Foods, Freedom Food Group, Northern Soy, Pacific Foods, and SunOpta.
During 2016, the whole soy foods segment accounted for the major shares of the soy foods market. The rising popularity of whole soy food products such as edamame, tofu, soy milk, and soy nuts will contribute to the growth of this industry segment in the coming years.
According to this market research report, supermarkets and hypermarkets accounted for the maximum shares of the soy food market during 2016. Factors such as the growth of the organized retail sector and the availability of various soy-based brands and products, increase the preference of customers towards supermarkets and hypermarkets. Moreover, the increasing shelf space for alternative dairy brands and products and the growing manufacturer partnerships with distribution partners to sell their products in supermarkets, will also boost the sales of soy foods through this distribution channel.
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The exponential growth in the awareness of several health benefits of soy foods has risen the demand for soy foods across the globe. Soy food is a great a source of amino acids, essential fatty acids such as omega 3 and omega 6. Also, it has an abundance of fiber and protein that is imperative for a healthy body growth. Reducing cholesterol, preventing cancer and aiding in pregnancy are few of the major benefits of soy food. To help clients have a competitive edge, the global market research firm Technavio provides an extensive collection of industry market research reports on multiple aspects of the food sector, which is an integral part of the food and beverage industry.
To identify the industry’s growth prospects, research analysts at Technavio follow a mix of primary and secondary market research techniques and consider factors like the market size and the demand for multiple products across the globe. With detailed insight on various parameters such as the changing preferences of customers and the products provided by competitors across the global and regional markets and the optimal usage of analytical tools, our upcoming market research report on soy food market for the forecast period of 2017 to 2021 will support clients understand the constantly changing landscape of the food and beverage industry.
This upcoming report on soy food market also considers the growth of the similar markets such as soy-based yogurt market and soy and milk protein ingredients market, which are expected to project at a CAGR of almost 10% during the period 2017 to 2021. According to Technavio’s market research analysts, one of the major factors contributing to the growth of the soy food market is the rising consumer preference for a vegan diet. An increasing number of people are turning vegan by adopting vegan diets because of ethical concerns for animals, for an improved environment, and for a healthy world. Consequently, soy foods are a primary source of dietary protein for vegan which can be derived from foods like tofu, tempeh, edamame, and miso. This advantage of soy foods over other vegan foods is expected to propel the growth of the global soy food market during the next four years.
The upcoming industry research report for soy food market also identifies the key drivers, emerging trends, coupled with the challenges currently experienced by the food sector. It also presents an insight into the dynamically changing competitive scenario in order to present an overall view of the future of the food and beverage industry.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market segmentation by distribution channel
PART 09: Key leading countries
PART 10: Decision framework
PART 11: Drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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