Soybean Food & Beverage Products Market by Product (Soy-based Beverages, Soy-based Foods, Soybean-based Food Ingredients), Soybean Source (Genetically Modified, Non-Genetically Modified), Distribution Channel, End-Use - Global Forecast 2024-2030

Soybean Food & Beverage Products Market by Product (Soy-based Beverages, Soy-based Foods, Soybean-based Food Ingredients), Soybean Source (Genetically Modified, Non-Genetically Modified), Distribution Channel, End-Use - Global Forecast 2024-2030


The Soybean Food & Beverage Products Market size was estimated at USD 60.35 billion in 2023 and expected to reach USD 63.58 billion in 2024, at a CAGR 5.47% to reach USD 87.63 billion by 2030.

The soybean food & beverage products are derived from soybeans, a leguminous plant rich in protein and other essential nutrients. Soybeans are processed into numerous forms, including but not limited to soy milk, tofu, tempeh, soy protein isolate, and fermented products like miso and natto. Each of these products caters to dairy alternatives, meat substitutes, snack foods, and meal components. The versatility of soy allows it to be incorporated into various culinary traditions and dietary preferences, thus broadening its appeal. The soybean food & beverage products industry is driven by several factors, such as the increasing health consciousness among consumers of the vegan and vegetarian population. Moreover, the increasing availability of versatile soybean-based foods and beverages and rising demand for soy protein ingredients for the production of animal feed are impeding market growth. In contrast, fluctuating prices in soybeans due to supply chain disruptions and fluctuating agricultural outputs, and side-effects and allergies associated with soy-based food & beverages products have led to hesitation to accept soybean food & beverages products among consumers, which leads to penetrating market growth. However, ongoing innovation within this sector is likely to introduce new products and applications of soy, cementing its status as a versatile and valuable agricultural commodity. Furthermore, the emergence of advanced packaging and processing technologies for soy-based food & beverages and approvals for genetically modified soybeans for food and feed purposes are gaining potential growth opportunities for the market.

Regional Insights

The use of soybean food & beverage products in the Americas is primarily driven by the growing health awareness and dietary preferences of consumers. This region has seen a substantial demand for plant-based products due to rising veganism and concerns about animal welfare. The versatility of soy as a food ingredient allows for its inclusion in various food products, contributing to its popularity. The presence of major soybean producers in countries of this region facilitates easy access to raw materials, thus promoting growth in the soy food and beverage industry. In the EMEA region, soybean food and beverage products are adopting due to changing dietary habits and the cultural assimilation of global food trends. In Europe, there is an increasing demand for non-dairy alternatives prompted by lactose intolerance and environmental considerations. The Middle East and Africa are gradually introducing soy into their diets, often buoyed by the nutritional benefits of soy, such as protein content and heart health. Soybean products have a long-established tradition in Asia-Pacific cuisine and are deeply integrated into the cultural fabric of many countries in the region. Soy foods such as tofu, tempeh, and soy milk are staple items in the diet of many APAC nations. Modernization and urbanization have further elevated the market potential for convenient and processed soy foods. Increasing regional income has also led to greater consumption of various food products, including soy-based ones. Health trends and the rise in vegetarianism and flexitarian diets have prompted consumers to seek soy as a reputable source of protein, aligning with global health narratives. Moreover, APAC's role as a major producer of soybeans provides an inherent advantage in the soy food and beverage product market.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Soybean Food & Beverage Products Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
  • Growing consumers shift toward plant-based products worldwide
  • Increasing availability of versatile soybean-based foods and beverages
  • Rising demand for soy protein ingredients for production of animal feed
Market Restraints
  • Changing costs of soybeans due to supply chain disruptions and fluctuating agricultural outputs
Market Opportunities
  • Emergence of advanced packaging and processing technologies for soy-based food & beverages
  • Approvals for genetically modified soybean for food and feed purposes
Market Challenges
  • Adverse effects and allergies associated with soy-based food & beverages
Market Segmentation Analysis
  • Product: Increasing preference for soy-based foods in individuals looking for whole soybean nutrition
  • Soybean Source: Rising adoption of GM soybeans in large-scale food and beverage production
  • End-Use: Significant role of soybean food & beverage products for functional foods & supplements to improve health risk
  • Distribution Channel: Rising e-commerce distribution channel offering easy accessibility to the products
Market Disruption Analysis
  • Porter’s Five Forces Analysis
  • Value Chain & Critical Path Analysis
  • Pricing Analysis
  • Technology Analysis
  • Patent Analysis
  • Trade Analysis
  • Regulatory Framework Analysis
FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Soybean Food & Beverage Products Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Soybean Food & Beverage Products Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Nestlé Launches Soy-Dairy Milk Blend in African Markets

Nestlé launched an instant milk powder made with a blend of dairy and plant-based ingredients, calling the Nido product both affordable and nutritious. The milk powder contains essential nutrients such as protein and fiber, combining dairy milk and locally sourced soy. It is a source of calcium and is fortified with iron.

Nestlé Launches Shelf-Stable Plant-Based Products

Nestlé launched plant-based offerings through the introduction of the Maggi Veg brand. These new products include SKUs combining vegan ‘mincemeat’ with seasoning for dishes such as tacos, empanadas, spaghetti bolognese, and a soup with lentils. The faux-meat products are made with soy and are “certified as vegan.”

Frieslandcampina and Agrifirm Collaboration Targets Plant-Based Expansion Using Oat and Soy Crops

FrieslandCampina and Agrifirm collaborated to pilot the cultivation of oats and soy on 200 and 50 hectares, respectively. The initiative involves 30 member dairy farms of FrieslandCampina, which are expected to use the crops as raw materials for expanding plant-based food production.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Soybean Food & Beverage Products Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Soybean Food & Beverage Products Market, highlighting leading vendors and their innovative profiles. These include Archer Daniels Midland Company, Batory Foods, Bunge Limited, Burcon NutraScience Corporation, Campbell Soup Company, Cargill, Incorporated, Chaitanya Agro Biotech Pvt. Ltd., CHS Inc., Crown Soya Protein Group Company, DAIYA FOODS Inc., Danone SA, Devansoy Inc., DuPont de Nemours, Inc., Earth’s Own Food Company Inc., Eden Foods, Inc., Farbest-Tallman Foods Corporation, Foodchem International Corporation, Fuji Oil Co., Ltd., House Foods America Corporation, Kellogg Company, Kerry Group PLC, Louis Dreyfus Company B.V., Nasoya Foods USA, LLC, PureHarvest, Sanitarium by Australian Health and Nutrition Association Ltd., Soy Vay Enterprises, The Hain Celestial Group, Inc., Vitasoy International Holdings Limited, Wilmar International Ltd., and YEO HIAP SENG Ltd..

Market Segmentation & Coverage

This research report categorizes the Soybean Food & Beverage Products Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
  • Soy-based Beverages
  • Soy-based Foods
  • Fermented
  • Non-Fermented
  • Soybean-based Food Ingredients
  • Additives
  • Oils
  • Soybean Source
  • Genetically Modified
  • Non-Genetically Modified
  • Distribution Channel
  • Offline
  • Online
  • End-Use
  • Animal Feed
  • Bakery & Confectionery
  • Dairy Products
  • Functional Foods & Supplements
  • Infant Foods
  • Meat Products
  • Region
    • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
    • California
    • Florida
    • Illinois
    • New York
    • Ohio
    • Pennsylvania
    • Texas
    • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
    • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom


    Please Note: PDF & Excel + Online Access - 1 Year


    1. Preface
    1.1. Objectives of the Study
    1.2. Market Segmentation & Coverage
    1.3. Years Considered for the Study
    1.4. Currency & Pricing
    1.5. Language
    1.6. Stakeholders
    2. Research Methodology
    2.1. Define: Research Objective
    2.2. Determine: Research Design
    2.3. Prepare: Research Instrument
    2.4. Collect: Data Source
    2.5. Analyze: Data Interpretation
    2.6. Formulate: Data Verification
    2.7. Publish: Research Report
    2.8. Repeat: Report Update
    3. Executive Summary
    4. Market Overview
    5. Market Insights
    5.1. Market Dynamics
    5.1.1. Drivers
    5.1.1.1. Growing consumers shift toward plant-based products worldwide
    5.1.1.2. Increasing availability of versatile soybean-based foods and beverages
    5.1.1.3. Rising demand for soy protein ingredients for production of animal feed
    5.1.2. Restraints
    5.1.2.1. Changing costs of soybeans due to supply chain disruptions and fluctuating agricultural outputs
    5.1.3. Opportunities
    5.1.3.1. Emergence of advanced packaging and processing technologies for soy-based food & beverages
    5.1.3.2. Approvals for genetically modified soybean for food and feed purposes
    5.1.4. Challenges
    5.1.4.1. Adverse effects and allergies associated with soy-based food & beverages
    5.2. Market Segmentation Analysis
    5.2.1. Product: Increasing preference for soy-based foods in individuals looking for whole soybean nutrition
    5.2.2. Soybean Source: Rising adoption of GM soybeans in large-scale food and beverage production
    5.2.3. End-Use: Significant role of soybean food & beverage products for functional foods & supplements to improve health risk
    5.2.4. Distribution Channel: Rising e-commerce distribution channel offering easy accessibility to the products
    5.3. Market Disruption Analysis
    5.4. Porter’s Five Forces Analysis
    5.4.1. Threat of New Entrants
    5.4.2. Threat of Substitutes
    5.4.3. Bargaining Power of Customers
    5.4.4. Bargaining Power of Suppliers
    5.4.5. Industry Rivalry
    5.5. Value Chain & Critical Path Analysis
    5.6. Pricing Analysis
    5.7. Technology Analysis
    5.8. Patent Analysis
    5.9. Trade Analysis
    5.10. Regulatory Framework Analysis
    6. Soybean Food & Beverage Products Market, by Product
    6.1. Introduction
    6.2. Soy-based Beverages
    6.3. Soy-based Foods
    6.4. Soybean-based Food Ingredients
    7. Soybean Food & Beverage Products Market, by Soybean Source
    7.1. Introduction
    7.2. Genetically Modified
    7.3. Non-Genetically Modified
    8. Soybean Food & Beverage Products Market, by Distribution Channel
    8.1. Introduction
    8.2. Offline
    8.3. Online
    9. Soybean Food & Beverage Products Market, by End-Use
    9.1. Introduction
    9.2. Animal Feed
    9.3. Bakery & Confectionery
    9.4. Dairy Products
    9.5. Functional Foods & Supplements
    9.6. Infant Foods
    9.7. Meat Products
    10. Americas Soybean Food & Beverage Products Market
    10.1. Introduction
    10.2. Argentina
    10.3. Brazil
    10.4. Canada
    10.5. Mexico
    10.6. United States
    11. Asia-Pacific Soybean Food & Beverage Products Market
    11.1. Introduction
    11.2. Australia
    11.3. China
    11.4. India
    11.5. Indonesia
    11.6. Japan
    11.7. Malaysia
    11.8. Philippines
    11.9. Singapore
    11.10. South Korea
    11.11. Taiwan
    11.12. Thailand
    11.13. Vietnam
    12. Europe, Middle East & Africa Soybean Food & Beverage Products Market
    12.1. Introduction
    12.2. Denmark
    12.3. Egypt
    12.4. Finland
    12.5. France
    12.6. Germany
    12.7. Israel
    12.8. Italy
    12.9. Netherlands
    12.10. Nigeria
    12.11. Norway
    12.12. Poland
    12.13. Qatar
    12.14. Russia
    12.15. Saudi Arabia
    12.16. South Africa
    12.17. Spain
    12.18. Sweden
    12.19. Switzerland
    12.20. Turkey
    12.21. United Arab Emirates
    12.22. United Kingdom
    13. Competitive Landscape
    13.1. Market Share Analysis, 2023
    13.2. FPNV Positioning Matrix, 2023
    13.3. Competitive Scenario Analysis
    13.3.1. Nestlé Launches Soy-Dairy Milk Blend in African Markets
    13.3.2. Nestlé Launches Shelf-Stable Plant-Based Products
    13.3.3. Frieslandcampina and Agrifirm Collaboration Targets Plant-Based Expansion Using Oat and Soy Crops
    13.4. Strategy Analysis & Recommendation
    14. Competitive Portfolio
    14.1. Key Company Profiles
    14.2. Key Product Portfolio

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