Soybean Food & Beverage Products Market by Product, Soybean Source, Distribution Channel, End-Use

Description

List of Tables

[180 Pages Report] The Soybean Food & Beverage Products Market size was estimated at USD 60.35 billion in 2023 and expected to reach USD 63.58 billion in 2024, at a CAGR 5.47% to reach USD 87.63 billion by 2030.

The soybean food & beverage products are derived from soybeans, a leguminous plant rich in protein and other essential nutrients. Soybeans are processed into numerous forms, including but not limited to soy milk, tofu, tempeh, soy protein isolate, and fermented products like miso and natto. Each of these products caters to dairy alternatives, meat substitutes, snack foods, and meal components. The versatility of soy allows it to be incorporated into various culinary traditions and dietary preferences, thus broadening its appeal. The soybean food & beverage products industry is driven by several factors, such as the increasing health consciousness among consumers of the vegan and vegetarian population. Moreover, the increasing availability of versatile soybean-based foods and beverages and rising demand for soy protein ingredients for the production of animal feed are impeding market growth. In contrast, fluctuating prices in soybeans due to supply chain disruptions and fluctuating agricultural outputs, and side-effects and allergies associated with soy-based food & beverages products have led to hesitation to accept soybean food & beverages products among consumers, which leads to penetrating market growth. However, ongoing innovation within this sector is likely to introduce new products and applications of soy, cementing its status as a versatile and valuable agricultural commodity. Furthermore, the emergence of advanced packaging and processing technologies for soy-based food & beverages and approvals for genetically modified soybeans for food and feed purposes are gaining potential growth opportunities for the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 60.35 billion
Estimated Year [2024]	USD 63.58 billion
Forecast Year [2030]	USD 87.63 billion
CAGR (%)	5.47%

Product: Increasing preference for soy-based foods in individuals looking for whole soybean nutrition

Soy-based beverages, such as soy milk and soy-based smoothies, cater to a growing demand for plant-based dairy alternatives. These beverages typically come in various flavors and are often fortified with vitamins and minerals to enhance their nutritional profile. Soy-based foods encompass a diverse range of products designed to provide high-quality protein and are available as both fermented and non-fermented options. Fermented soy-based foods include products such as tempeh, miso, and soy sauce. Fermentation imbues these products with distinct flavors and improves their digestibility and nutritional benefits, including enhanced protein content and the presence of probiotics. Non-fermented soy-based foods such as tofu, soy nuts, and soy-based meat alternatives cater to the meat substitute market and individuals looking for whole soybean nutrition. These products are often appreciated for their versatility and adaptability in numerous recipes. Soybean-based food ingredients are essential in various manufacturing processes, affecting food functionality, nutrition, and product appeal. Soybean-based additives such as soy lecithin, soy protein isolates, and soy fiber are widely used in the food industry for their emulsifying properties, texture enhancement, and nutritional fortification. Soybean oils are highly regarded for their versatility in food applications, including cooking, baking, and salad dressings. They are a significant source of polyunsaturated fats and are often hydrogenated to improve shelf stability and texture in processed foods.

Soybean Source: Rising adoption of GM soybeans in large-scale food and beverage production

Genetically modified soybeans are modified at the genetic level to exhibit traits that make them more resistant to pests, herbicides, and environmental conditions. These modifications lead to larger yields and less dependency on chemical pesticides, potentially reducing production costs. Non-genetically modified soybeans are preferred by a niche and still-growing consumer group that advocates for organic and natural food products. Food and beverage products sourced from non-GM soybeans are marketed as more natural and environmentally friendly, capitalizing on consumer trends that favor perceived health benefits and sustainable agricultural practices. In comparison, GM soybeans are more accessible and cost-effective for manufacturers with a price-sensitive consumer base and those operating in regions with less restrictive GMO policies. On the other hand, products sourced from non-GM soybeans command higher prices and target a premium segment willing to pay for non-GMO claims.

End-Use: Significant role of soybean food & beverage products for functional foods & supplements to improve health risk

Soybeans are critical in animal nutrition, particularly as a high-protein ingredient in poultry, swine, and cattle feed. The meal produced after oil extraction is rich in amino acids essential for animal growth, making it a preferred ingredient in livestock diets. In the bakery and confectionery sector, soy is valued for its functional properties, such as moisture retention and texture improvement, and its nutritional profile, including plant protein and fiber. Within dairy products, soy is predominantly utilized as a dairy alternative due to its similar nutritional content, especially in soy milk and soy-based yogurts. Soybeans serve those with lactose intolerance and dietary preferences such as veganism. Functional foods and supplements represent an expanding market sector for soybean use, emphasizing the health benefits of soy intake, such as improved heart health and reduced risk of certain diseases. Isolated soy proteins and isoflavones are popular ingredients in this category, appealing to health-conscious consumers seeking non-animal protein sources and additional health benefits. The use of soy in infant foods, particularly in soy-based infant formulas, caters to the needs of infants who are lactose intolerant and allergic to cow milk protein. In meat products, soy is often an extender and texturizer, improving taste, texture, and moisture content in products such as sausages, burger patties, and meatballs.

Distribution Channel: Rising e-commerce distribution channel offering easy accessibility to the products

Offline channels refer to traditional brick-and-mortar outlets such as supermarkets, health food, convenience, and specialty stores. The primary advantage of offline channels is the physical presence that allows consumers to experience products directly, which can drive impulse purchases and enhance brand loyalty through sensory experiences. Furthermore, in-store promotions and the ability of staff to recommend products can positively influence buying decisions. Offline channels also offer immediate product accessibility without the wait or cost associated with shipping. Online channels encompass e-commerce platforms, brand-owned websites, and online marketplaces. Online sales have been proliferating due to the convenience they offer consumers, including the ability to shop 24/7, easy price comparisons, and access to a global market. Consumers easily find product reviews and ratings that influence their purchasing decisions.

Regional Insights

The use of soybean food & beverage products in the Americas is primarily driven by the growing health awareness and dietary preferences of consumers. This region has seen a substantial demand for plant-based products due to rising veganism and concerns about animal welfare. The versatility of soy as a food ingredient allows for its inclusion in various food products, contributing to its popularity. The presence of major soybean producers in countries of this region facilitates easy access to raw materials, thus promoting growth in the soy food and beverage industry. In the EMEA region, soybean food and beverage products are adopting due to changing dietary habits and the cultural assimilation of global food trends. In Europe, there is an increasing demand for non-dairy alternatives prompted by lactose intolerance and environmental considerations. The Middle East and Africa are gradually introducing soy into their diets, often buoyed by the nutritional benefits of soy, such as protein content and heart health. Soybean products have a long-established tradition in Asia-Pacific cuisine and are deeply integrated into the cultural fabric of many countries in the region. Soy foods such as tofu, tempeh, and soy milk are staple items in the diet of many APAC nations. Modernization and urbanization have further elevated the market potential for convenient and processed soy foods. Increasing regional income has also led to greater consumption of various food products, including soy-based ones. Health trends and the rise in vegetarianism and flexitarian diets have prompted consumers to seek soy as a reputable source of protein, aligning with global health narratives. Moreover, APAC's role as a major producer of soybeans provides an inherent advantage in the soy food and beverage product market.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Soybean Food & Beverage Products Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Soybean Food & Beverage Products Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Soybean Food & Beverage Products Market, highlighting leading vendors and their innovative profiles. These include Archer Daniels Midland Company, Batory Foods, Bunge Limited, Burcon NutraScience Corporation, Campbell Soup Company, Cargill, Incorporated, Chaitanya Agro Biotech Pvt. Ltd., CHS Inc., Crown Soya Protein Group Company, DAIYA FOODS Inc., Danone SA, Devansoy Inc., DuPont de Nemours, Inc., Earth's Own Food Company Inc., Eden Foods, Inc., Farbest-Tallman Foods Corporation, Foodchem International Corporation, Fuji Oil Co., Ltd., House Foods America Corporation, Kellogg Company, Kerry Group PLC, Louis Dreyfus Company B.V., Nasoya Foods USA, LLC, PureHarvest, Sanitarium by Australian Health and Nutrition Association Ltd., Soy Vay Enterprises, The Hain Celestial Group, Inc., Vitasoy International Holdings Limited, Wilmar International Ltd., and YEO HIAP SENG Ltd..

Market Segmentation & Coverage

This research report categorizes the Soybean Food & Beverage Products Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Soy-based Beverages
- Soy-based Foods
  - Fermented
  - Non-Fermented

Soybean-based Food Ingredients
- Additives
- Oils

Soybean Source
- Genetically Modified
- Non-Genetically Modified

Distribution Channel
- Offline
- Online

End-Use
- Animal Feed
- Bakery & Confectionery
- Dairy Products
- Functional Foods & Supplements
- Infant Foods
- Meat Products

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Soybean Food & Beverage Products Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Soybean Food & Beverage Products Market?

3. What are the technology trends and regulatory frameworks in the Soybean Food & Beverage Products Market?

4. What is the market share of the leading vendors in the Soybean Food & Beverage Products Market?

5. Which modes and strategic moves are suitable for entering the Soybean Food & Beverage Products Market?

Product Code: MRR-961BA04A2EDA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing consumers shift toward plant-based products worldwide
  - 5.1.1.2. Increasing availability of versatile soybean-based foods and beverages
  - 5.1.1.3. Rising demand for soy protein ingredients for production of animal feed
- 5.1.2. Restraints
  - 5.1.2.1. Changing costs of soybeans due to supply chain disruptions and fluctuating agricultural outputs
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of advanced packaging and processing technologies for soy-based food & beverages
  - 5.1.3.2. Approvals for genetically modified soybean for food and feed purposes
- 5.1.4. Challenges
  - 5.1.4.1. Adverse effects and allergies associated with soy-based food & beverages
5.2. Market Segmentation Analysis
- 5.2.1. Product: Increasing preference for soy-based foods in individuals looking for whole soybean nutrition
- 5.2.2. Soybean Source: Rising adoption of GM soybeans in large-scale food and beverage production
- 5.2.3. End-Use: Significant role of soybean food & beverage products for functional foods & supplements to improve health risk
- 5.2.4. Distribution Channel: Rising e-commerce distribution channel offering easy accessibility to the products
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Soybean Food & Beverage Products Market, by Product

6.1. Introduction
6.2. Soy-based Beverages
6.3. Soy-based Foods
6.4. Soybean-based Food Ingredients

7. Soybean Food & Beverage Products Market, by Soybean Source

7.1. Introduction
7.2. Genetically Modified
7.3. Non-Genetically Modified

8. Soybean Food & Beverage Products Market, by Distribution Channel

8.1. Introduction
8.2. Offline
8.3. Online

9. Soybean Food & Beverage Products Market, by End-Use

9.1. Introduction
9.2. Animal Feed
9.3. Bakery & Confectionery
9.4. Dairy Products
9.5. Functional Foods & Supplements
9.6. Infant Foods
9.7. Meat Products

10. Americas Soybean Food & Beverage Products Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Soybean Food & Beverage Products Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Soybean Food & Beverage Products Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Nestle Launches Soy-Dairy Milk Blend in African Markets
- 13.3.2. Nestle Launches Shelf-Stable Plant-Based Products
- 13.3.3. Frieslandcampina and Agrifirm Collaboration Targets Plant-Based Expansion Using Oat and Soy Crops
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio