The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Soybean Food And Beverage Products Global Market Report 2023, The global soybean food and beverage products market is expected to grow from $50.49 billion in 2022 to $53.03 billion in 2023 at a compound annual growth rate (CAGR) of 5.03%. The soybean food and beverages products market are expected to reach $65.43 billion in 2027 at a CAGR of 5.40%.

North America held the largest soybean food and beverage products market share.

Soybean Food And Beverage Products Market Driver
The increasing demand for vegan food is expected to propel the growth of the soybean food and beverages market going forward. Vegan food refers to food that is made without any animal products or byproducts and it promotes the use of cruelty-free and sustainable alternatives. Soybean is one of the versatile ingredients that can be used in a wide range of vegan foods, and it provides a high-quality, plant-based protein option. For instance, in March 2022, according to the data reported by Plant Based Foods Association (PBFA), a US-based organization and Good Food Institute (GFI), a US-based non-profit organization indicates that the plant-based food industry in the US experienced a six percent growth in 2021, which is three times faster than the overall growth rate of the food industry, bringing the total market size of the plant-based food industry to $7.4 billion. Therefore, the increasing demand for vegan food drives the soybean food and beverages market.

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Key Soybean Food And Beverage Products Market Segments

The global soybean food and beverage products market is segmented –

1) By Type: Soybean Food Products, Soybean Additives/Ingredients, Soybean Oil

2) By Source: Genetically Modified (GM), Non-Genetically Modified (Non-GM) /Genetically Engineered (GM)

3) By Distribution Channel: Supermarkets, Hypermarkets, Specialty Stores, Online Retailers, Convenience Stores, Departmental Stores, Other Distribution Channels

4) By Applications: Bakery And Confectionery, Animal Feed, Dairy Products, Functional Food And Supplements, Meat Products, Infant Foods, Other Applications

Soybean Food And Beverage Products Market Prominent Players
Major players in the soybean food and beverage products market are Cargill Incorporated, The Archer-Daniels-Midland Company, Nestle SA, Willmar International Limited, CHS Inc., Danone SA, Conagra Brands Inc., Kerry Group Plc., Caramuru Alimentos S.A., Kikkoman Group, The WhiteWave Foods Company, Patanjali Foods Limited, Hain Celestial Group, Monde Nissin Corporation, Vitasoy International, Barentz International BV, The Scoular Company, SunOpta Inc., Alpro, Impossible Foods Inc., Pacific Foods of Oregon LLC, Eden Foods Inc., Sotexpro, Good Catch Foods, Burcon NutraScience Corporation, Bermil Group, Rio Pardo Potential Vegetal S.A., Northern Soy, Solbar Ltd., and Galaxy Nutritional Foods Inc.

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Prominent Soybean Food And Beverage Products Market Trend
Product innovation is the key trend gaining popularity in the soybean food and beverage products market. Major companies operating in the soybean food and beverage products market are focusing on developing innovative soybean food and beverage products for consumers to benefit from soybeans’ health benefits. For instance, in March 2022 Otsuka pharmaceuticals co. ltd., a Japan-based pharmaceutical company launched SOYJOY, a series of innovative whole-soy nutrition bars. The product integrates fruits, nuts, and other components into a gluten-free dough made from whole soybean flour, resulting in a diverse range of foods with distinct textures and flavors. This product supports healthy, positive between-meal consumption with the new added value of a plant-based lineup, providing a quick, delicious, and fun method to make use of soy, a representative source of plant protein.

The Soybean Food And Beverage Products Global Market Report 2023  provides comprehensive insights on the soybean food and beverage products market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the soybean food and beverage products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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