Soy products are made from soybean. They are an alternative for milk and milk products like cheese, yoghurts, flavoured milk, and spreads. Soy products also act as an alternative for meat products, as well as vegan diets. They are rich in protein content and provide amino acids that are vital for the body. Soy contains two types of fatty acids viz., omega-3 and omega-6 fatty acids. Soybean was first cultivated in China from where it spread to other parts of Asia and the world. Soybeans are used to prepare a variety of food products such as tofu, tamari, soymilk, soy flour, tempeh and others. Soymilk is produced after soaking soybeans in water. Tofu is a cheese-like food made after curdling the soymilk and is a near perfect alternative for cheese for lactose intolerant people. Tamari or soy sauce is prepared by fermenting soybeans and is used as flavouring agent.
Primary driver of the soy market is the growing health awareness among individuals as soy has relatively less calories and various health benefits. Secondary driver is growing lactose intolerance among the individuals which causes them to consume soy products instead of milk and its products. The majority of lactose intolerant individuals are found in Europe, Africa, Asia, and US. Several flavours that are added to soy products raise their appeal and demand among the consumers. Another driver for soy is its price: the prices of soy products are significantly lower than that of milk products. This attracts more customers towards the products.
Primary restraints of the soy market is the absence of calcium. These products have artificial calcium added to them which is of relatively less nutrient value.
The market is segmented on the basis of type and application. By application it is segmented into food and beverages, feed, pharma and others. By type it is segmented into food products, additives, and oils. Food products are further segmented into fermented (Soy sauce, Natto, Tempeh, Miso, Soy cheese, Soy youghurt, Soynut butter, Tuba, Soy mayonnaise, Others) and non-fermented (Soy flour, Soy fibre, Soy grits, Soymilk, Soynuts). Additives are further segmented into Soy protein concentrate, Soy protein isolates, textured soy protein and others. Oils are further segmented into Sobean oil, Lecithin, and others.
By geography, the market is segmented into India, China, Japan, Korea and others. Asia-Pacific is most dominating geography in the market. Soybean Food Products Market in Asia Pacific are projected to be fastest growing geographies in soy food products market. Whole soy food product is the largest and fastest growing market category.
Some of the key players of the market are ADM Inc. Solbar Ltd., Cargill Inc., DuPont Solae, Northern Soy Inc., Whole Soy & Co., The Scoular Company, and Linyi Shansong Biological Products Co. Ltd.
2) Application Introduction Food and Beverages Feed Pharma
Scope of the Report: Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of type and application along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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