Global Soybean Food & Beverage Products Market Insights Forecasts to 2032

• The Global Soybean Food & Beverage Products Market Size was valued at USD 49.8 Billion in 2022
• The market is growing at a CAGR of 4.6% from 2022 to 2032
• The Worldwide Soybean Food & Beverage Products Market size is expected to reach USD 78.1 Billion by 2032
• North America is expected To Grow the fastest during the forecast period

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The Global Soybean Food & Beverage Products Market is anticipated to reach USD 78.1 billion by 2032, at a CAGR of 4.6% during the forecast period from 2022 to 2032. Due to its nutritional profile, inclination towards clean eating, rise in health concerns (lactose intolerance), environmental concerns, and animal welfare, the soybean food and beverage products market is expanding. Consumer’s preference for plant based protein has expanded beyond its initial applications in meat and dairy substitutes to include extensive use in other segments such as performance nutrition and infant nutrition.

 

Market Overview

The global soybean food and beverage products market refers to the market for products that are made using soybeans as a primary ingredient. Soybean-based products are widely used as a source of protein and are consumed in various forms, including tofu, soy milk, soy sauce, and various other food and beverage products. The market for soybean-based food and beverage products has witnessed significant growth in recent years, driven by the increasing popularity of vegetarian and vegan diets, rising health awareness, and growing demand for plant-based protein products. Additionally, soybeans are considered to be a sustainable crop, as they require less water and produce fewer greenhouse gases than animal-based protein sources. Soybean-based products are used in a wide range of food and beverage applications, including bakery products, dairy alternatives, meat substitutes, and various other processed foods. The market is highly competitive, with a large number of players operating in the industry, including both multinational corporations and smaller regional players.

 

Key players in the global soybean food and beverage products market include Archer Daniels Midland Company, Cargill, Inc., DuPont Nutrition & Health, and The Scoular Company, among others. These players are investing in research and development activities to develop new and innovative soybean-based products to cater to changing consumer preferences and drive market growth.

 

Report Coverage

This research report categorizes the market for global soybean food & beverage products market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the soybean food & beverage products market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the soybean food & beverage products market.

 

Driving Factors

The increasing popularity of vegetarian and vegan diets, as well as the rising health awareness among consumers, are driving the demand for plant based protein sources. Soybeans are a rich source of protein and are widely used in various food and beverage products, which is driving the growth of the soybean food and beverage products market.

 

Increasing disposable income in emerging economies is leading to a shift in consumer preferences toward healthier and high-quality food products. Soybean-based food and beverage products are considered to be healthy and nutritious, which is driving the demand for these products.

 

Advancements in food processing technology have made it possible to produce a wide range of soybean-based products, such as meat substitutes, dairy alternatives, and bakery products. This is expanding the scope of the soybean food and beverage products market.

 

Restraining Factors

Some individuals are allergic to soybeans or are intolerant to soy-based products, which restricts their consumption of soybean food and beverage products. While soybeans are a rich source of protein, there are other plant-based protein sources such as pea protein, rice protein, and hemp protein that are gaining popularity. This is increasing the competition for soybean-based products.

 

The price of soybeans is subject to volatility due to various factors such as weather conditions, trade policies, and changes in demand. This can affect the profitability of manufacturers and the affordability of soybean-based products for consumers. The use of genetically modified soybeans and the regulation of soybean-based products vary by region and country. This can create challenges for manufacturers who need to comply with different regulations in different markets.

 

Market Segmentation

 

The Global Soybean Food & Beverage Products Market share is classified into type, source, and distribution channel.

• The soybean food products segment is expected to hold the largest market share in the global soybean food and beverage products market during the projected period. 

Based on the type, the global soybean food & beverage products market is differentiated into soybean oil, soybean food products, soybean additives, and others. Among these, the soybean food products segment is expected to hold the largest market share in the global soybean food and beverage products market during the forecast period. The growth can be attributed due to the increasing popularity of plant-based protein sources and the rising demand for vegetarian and vegan food products. Soybean food products are a broad category of food products that are derived from soybeans, which are a rich source of protein and other nutrients. Soybean food products include a wide range of products such as tofu, soy milk, soy-based meat substitutes, and various other food products. These products are widely used in various cuisines around the world and are popular among vegetarians and vegans as a source of plant-based protein.

 

• The non-GM soybeans segment is expected to hold the largest market share in the global soybean food and beverage products market during the study period.

Based on the source, the global soybean food & beverage products market is classified into GM and non-GM. Among these, the non-GM soybeans segment is expected to hold the largest market share in the global soybean food and beverage products market during the forecast period. The reason behind the growth is, there is a growing demand for natural and organic food products, and many consumers are concerned about the potential health and environmental risks associated with GM crops. Additionally, some countries have regulations that limit or ban the use of GM soybeans in food products, which can create market opportunities for non-GM soybean products. Non-genetically modified soybeans are those that have not been genetically modified using any engineering techniques. Non-GM soybeans are also used in the production of soybean food and beverage products, as they are perceived by some consumers to be safer and more environmentally friendly compared to GM soybeans.

 

• The supermarkets segment is expected to hold the largest market share in the global soybean food and beverage products market during the predicted timeframe.

Based on the distribution channel, the global soybean food & beverage products market is classified into supermarkets and hypermarkets. Among these, the supermarkets segment is expected to hold the largest market share in the global soybean food and beverage products market during the predicted timeframe. The reason for the increase is, supermarkets are more widely available and accessible to consumers, especially in urban areas, and they offer a wider range of soybean products from different brands. Supermarkets also have more frequent sales and promotions, which can attract price-sensitive consumers. Supermarkets are large self-service retail stores that offer a wide range of food and non-food products, including soybean food and beverage products. Supermarkets offer convenience, as consumers can find all their grocery needs in one place. They also provide a wide variety of products from different brands, which can make it easier for consumers to compare and choose products. These are the major factors which aided the expansion of segmental growth during the forecast period.

 

Regional Segment Analysis of the Soybean Food & Beverage Products Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is expected to hold the largest share of the global Soybean Food & Beverage Products market during the projected period.

 

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Asia-Pacific is expected to hold the largest market share in the global soybean food and beverage products market. This is because Asia-Pacific is the largest consumer and producer of soybean products, particularly in countries such as China, Japan, and India. The growing population, increasing disposable income, and changing food habits of consumers in these countries are expected to drive the demand for soybean food and beverage products in the region.

 

North America is expected to grow at the fastest rate in the global soybean food and beverage products market during the predicted timeframe, with the United States being the largest producer and consumer of soybean products in the region. Soybeans are a major commodity crop in the United States, and the country produces a significant amount of soybean food and beverage products such as tofu, soymilk, soy sauce, and soybean oil. The increasing demand for plant-based protein products and meat substitutes in North America is expected to drive the growth of the soybean food and beverage products market in the region.

 

Europe is another significant market for soybean food and beverage products, with countries such as Germany, France, and the United Kingdom being major consumers. The European market is driven by factors such as the rising demand for organic and natural food products, growing awareness about the health benefits of soybean products, and the increasing popularity of vegan and vegetarian diets.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global soybean food & beverage products market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• ADM
• Kikkoman Group
• Caramuru  
• Hain Celestial Group  
• Northern Soy 
• Solbar Ltd 
• Farbest Tallman Foods Corporation
• Patanjali Foods Limited
• Alpro  
• Barentz  
• Vitasoy 
• Bermil Group 
• Rio Pardo Potential Vegetal S.A. 
• Cargill Incorporated
• Good Catch Foods 
• Living Foods
• Galaxy Nutritional Foods 
• Foodchem International Corporation
• Eden Food  

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In March 2022, Cargill, Inc. invested in upgrading and expanding its soybean processing facilities across seven states in the United States. The funds will be used to increase the capacity and operational effectiveness of the sites.

 

• In August 2022, ADM and Benson Hill (US) formed a long-term strategic partnership to scale new soy components in order to meet the rapidly expanding demand for plant-based proteins. The alliance will service a variety of plant-based food and beverage sectors to meet the needs of savoury, sweet, and dairy clients.

  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Soybean Food & Beverage Products Market based on the below-mentioned segments:

 

Global Soybean Food & Beverage Products Market, By Type

• Soybean Oil
• Soybean Food Products
• Soybean Additives

 

Global Soybean Food & Beverage Products Market, By Source

• GM
• Non-GM

 

Global Soybean Food & Beverage Products Market, By Distribution Channel

• Supermarkets
• Hypermarkets

 

Global Soybean Food & Beverage Products Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa