Soy food products,
such as tofu and soy milk, have been consumed as traditional foods in Asia.
With a rise in awareness of the health benefits of soy food, it has gained
popularity worldwide, and, currently, it is among the most consumed food
products. Earlier, soy food products in retail stores were restricted to tofu,
soy milk, and poorly textured meat substitutes; but seeing the increased
popularity and demand for soy food products, food manufacturers have introduced
new technologies and launched new and tasty soy food products in the market.
Analysts forecast
the Global Soy
Food market will grow at a CAGR
of 6.26 percent over the period 2013-2018.
The Report
recognizes the following companies as the key players in the Global Soy Food
Market: Archer Daniels Midland Co. (ADM), Cargill Inc., The Hain Celestial
Group Inc. and The WhiteWave Foods Co.
Other Prominent
Vendors in the market are: Blue Diamond Growers, Earth's Own Food Company, Eden
Foods, Freedom Foods Group, Living Harvest , Nutriops , OATLY , Pacific Foods,
Panos Brands , Pureharvest , Stremick's Heritage Foods, SunOpta , Turtle
Mountain and Vitasoy.
One of the major
emerging trends in this market is the rising awareness of vegan diet. People
are adopting vegan diets due to ethical concern toward animals, the
environment, and better health. In addition, people perceive a vegan diet to be
a healthy diet and prefer consuming dairy alternatives such as soy milk, almond
milk, rice milk, coconut milk, hazelnut milk, oat milk, and hemp milk as
substitutes for dairy milk. Vegan diet followers and healthy diet adopters are
the major target consumers of soy food manufacturers.
Covered in this Report
The Global Soy Food
market can be divided into three segments: Whole Soy Foods, Soy Additives, and
Soy Oils. The Whole Soy Foods segment was the largest segment in 2013,
accounting for more than 50 percent of the market.
Global Soy Food
Market 2014-2018, has been prepared based on an in-depth market analysis with
inputs from industry experts. The report focuses on the Global Soy Food market
landscape and its growth prospects in the coming years. The report also
includes a discussion of the key vendors operating in this market.
According to the
report, one of the major drivers in this market is the increasing aging
population globally. With the increase in the aging population (who are the
potential and primary consumers of soy food), the consumption of soy food
products has also increased. The majority of the demand for soy food products
is from the APAC region.
Further, the report
states that one of the major challenges that this market faces is the effect of
natural disasters and adverse weather conditions. This leads to an increase in
the price of raw materials, which increases the manufacturing and processing
costs of soy food products.
