Soy Food Market Research Report 203 -Market Size and Forecast

Market Overview
Soy Food Market is estimated to reach a high CAGR of 4.8% during the forecast period (2023-2030).
Soybean, or soya bean is a legume widely known for its edible nature and nutrient rich properties and is considered as the largest grown legume in the world. Beyond utilization of soybean meal for animal feed application, soybean is used as staple food source in several parts of the world.
Consumption of soy-based food products such as Tofu and Tempeh are increasing owing to the rising interest towards sustainable production practices and demand for meat substitutes.

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Market Dynamics:
1. The utilization of soy-based foods has been rapidly increasing across the globe owing to the rising awareness about its potential health benefits.
2. Soy is considered as an effective alternative to dairy foods owing to its rich protein and low cholesterol content.
3. Soy is also used as a 'meat analog'. Furthermore, rising veganism is likely to provide immense growth potential for the market over the forecast period.
4. GM issues associated with soy beans is the primary factor hindering the growth of soy foods market.

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Market Segmentation:
• By Type
o Soy Milk
o Soy Oil
o Tofu
o Tempeh
o Edamame
o Soy Yogurt
o Soy Sauce
o Others
• By Distribution Channel
o Supermarkets/Hypermarkets
o Convenience Stores
o E-Commerce
o Others
• By Application
o Functional Foods
o Infant Nutrition
o Bakery & Confectionery Products
o Others

Company Profiles
1. Archer Daniels Midland Company
2. Cargill, Incorporated
3. SoyBoy
4. Nutrisoy Pty Ltd
5. Dragonfly Foods
6. Tofurei
7. The Tofoo Co.
8. Noble Bean Inc
9. Lalibela Farm
10. Danone S.A.

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