New York, United States , April 20, 2023 (GLOBE NEWSWIRE) -- The Global Soybean Food & Beverage Products Market Size is to grow from USD 49.8 billion in 2022 to USD 78.1 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.6% during the projected period. In recent years, the market for soybean-based food and beverage products has grown significantly, owing to the growing popularity of vegetarian and vegan diets, rising health awareness, and rising demand for plant-based protein products.
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The global soybean food and beverage products market includes all products that use soybeans as a primary ingredient. Soybean-based products, such as tofu, soy milk, soy sauce, and a variety of other food and beverage products, are widely used as a source of protein. Soybean-based products are used in a variety of food and beverage applications, including bakery goods, dairy substitutes, meat substitutes, and a variety of other processed foods. The soybean food and beverage products market is expanding due to its nutritional profile, inclination towards clean eating, rise in health concerns (lactose intolerance), environmental concerns, and animal welfare. Consumer preferences in emerging economies are shifting towards healthier and higher-quality food products as disposable income rises. The growing popularity of vegetarian and vegan diets, as well as consumer health awareness, are driving demand for plant-based protein sources. Soybeans are a high-protein source that is widely used in a variety of food and beverage products, fueling the growth of the soybean food and beverage products market. However, soybean prices are volatile due to a variety of factors such as weather, trade policies, and changes in demand. This can have an impact on manufacturer profitability as well as consumer affordability of soybean-based products. The use of genetically modified soybeans, as well as the regulation of soybean-derived products, varies by region and country. This can make things difficult for manufacturers who must adhere to various regulations in different markets.
Browse key industry insights spread across 200 pages with 135 market data tables and figures & charts from the report on "Global Soybean Food & Beverage Products Market Size, Share, and COVID-19 Impact Analysis, By Type (Soybean Oil, Soybean Food Products, Soybean Additives, and Others), By Source (GM, and Non-GM), By Distribution Channel (Supermarkets, and Hypermarkets), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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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. During the forecast period, the soybean food products segment is expected to have the highest market share in the global soybean food and beverage products market. The growth can be attributed due to the growing popularity of plant-based protein sources and the increasing demand for vegetarian and vegan food products.
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.
According to the source, the global soybean food and beverage products market is divided into GM and non-GM segments. Non-GM soybeans are expected to have 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 growing demand for natural and organic food products, and many consumers are concerned about the potential health and environmental risks associated with GM crops.
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 global soybean food & beverage products market is divided into supermarkets and hypermarkets based on the distribution channel. Among these, supermarkets are expected to have the largest market share in the global soybean food and beverage products market over the forecast period. The reason for the rise is that supermarkets are more widely available and accessible to consumers, particularly in urban areas, and they offer a wider variety of soybean products from various brands.
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Asia Pacific is expected to hold the largest share of the global Soybean Food & Beverage Products market during the projected period.
In the global soybean food and beverage products market, Asia-Pacific is expected to have the largest market share. This is due to the Asia-Pacific is the largest consumer and producer of soybean products, particularly in China, Japan, and India. The region's demand for soybean food and beverage products is expected to be driven by the region's growing population, increasing disposable income, and changing food habits. During the forecast period, North America is expected to grow at the fastest rate in the global soybean food and beverage products market. The growing demand for plant-based protein products and meat substitutes in North America is expected to drive the expansion of the region's soybean food and beverage products market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global 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. Major vendors in the Global Soybean Food & Beverage Products Market include 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, and Others.
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