Summary

The global soy food market size reached US$ 49.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 72.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.

Soybean is a type of legume, native to East Asia, which is low in saturated fats but high in protein, vitamin C and folate. It is a good source of iron, fiber, calcium, magnesium, potassium, phosphorus and omega-3 fatty acids. As a result of its nutrient content, it offers various health benefits such as lowering the blood cholesterol level, increasing bone density and minimizing the risk of developing cancer. It is widely used as an alternative of meat in several dishes and is added in various vegan-friendly food products. The rising demand for plant-based foods is strengthening the growth of the soy food market across the globe.

Soybean is used for preparing numerous products including soymilk, soy flour, tofu, tamari, tempeh, edamame, miso, natto and teriyaki. Currently, the demand for tofu is rising around the world, especially among the vegan and vegetarian population. It is an excellent substitute for cheese, which can be consumed by lactose intolerant consumers. The growing sales of tofu can also be accredited to its resemblance to meat in its form, color, taste and texture. Apart from this, other soy food products such as snacks and beverages are also experiencing steady growth in their demand worldwide on account of the growing health awareness among consumers. Further, manufacturers are investing in research and development activities to introduce new variants of soy food products to expand their product portfolio and attract new consumers.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global soy food market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on product type, category, distribution channel and end-use.

Breakup by Product Type:

Textured Vegetable Protein (TVP)
Soy Milk
Soy Oil
Tofu
Others

Breakup by Category:

Organic
Conventional

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Departmental Stores
Convenience Stores
Online
Others

Breakup by End-Use:

Dairy Alternatives
Meat Alternatives
Bakery and Confectionary
Functional Foods
Infant Nutrition
Others

Breakup by Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players Blue Diamond Growers, Dean Foods, Earth's Own Food Company, Eden Foods, Freedom Foods Group, Harvest Innovations, House Foods America Holding, Archer Daniels Midland, Miracle Soybean Food International Corp, Cargill, Nordic Soya Oy, Victoria Group, Hain Celestial, Adisoy Foods & Beverages Pvt. Ltd., etc.

Key Questions Answered in This Report

1. What was the size of the global soy food market in 2023?
2. What is the expected growth rate of the global soy food market during 2024-2032?
3. What are the key factors driving the global soy food market?
4. What has been the impact of COVID-19 on the global soy food market?
5. What is the breakup of the global soy food market based on the product type?
6. What is the breakup of the global soy food market based on the category?
7. What is the breakup of the global soy food market based on the distribution channel?
8. What is the breakup of the global soy food market based on the end-use?
9. What are the key regions in the global soy food market?
10. Who are the key players/companies in the global soy food market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Soy Food Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product Type
5.5 Market Breakup by Category
5.6 Market Breakup by Distribution Channel
5.7 Market Breakup by End-Use
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Product Type
6.1 Textured Vegetable Protein (TVP)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Soy Milk
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Soy Oil
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Tofu
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Category
7.1 Organic
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Conventional
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Supermarkets and Hypermarkets
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Departmental Stores
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Convenience Stores
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Online
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by End-Use
9.1 Dairy Alternatives
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Meat Alternatives
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Bakery and Confectionary
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Functional Foods
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Infant Nutrition
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Region
10.1 Asia Pacific
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 North America
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Europe
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Middle East and Africa
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Latin America
10.5.1 Market Trends
10.5.2 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
14.1 Price Indicators
14.2 Price Structure
14.3 Margin Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Blue Diamond Growers
15.3.2 Dean Foods
15.3.3 Earth's Own Food Company
15.3.4 Eden Foods
15.3.5 Freedom Foods Group
15.3.6 Harvest Innovations
15.3.7 House Foods America Holding
15.3.8 Archer Daniels Midland
15.3.9 Miracle Soybean Food International Corp
15.3.10 Cargill
15.3.11 Nordic Soya Oy
15.3.12 Victoria Group
15.3.13 Hain Celestial
15.3.14 Adisoy Foods & Beverages Pvt. Ltd.

List of Figures

Figure 1: Global: Soy Food Market: Major Drivers and Challenges
Figure 2: Global: Soy Food Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Soy Food Market: Breakup by Product Type (in %), 2023
Figure 4: Global: Soy Food Market: Breakup by Category (in %), 2023
Figure 5: Global: Soy Food Market: Breakup by Distribution Channel (in %), 2023
Figure 6: Global: Soy Food Market: Breakup by End-Use (in %), 2023
Figure 7: Global: Soy Food Market: Breakup by Region (in %), 2023
Figure 8: Global: Soy Food Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 9: Global: Soy Food Industry: SWOT Analysis
Figure 10: Global: Soy Food Industry: Value Chain Analysis
Figure 11: Global: Soy Food Industry: Porter’s Five Forces Analysis
Figure 12: Global: Soy Food (Textured Vegetable Protein) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Soy Food (Textured Vegetable Protein) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Soy Food (Soy Milk) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Soy Food (Soy Milk) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Soy Food (Soy Oil) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Soy Food (Soy Oil) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Soy Food (Tofu) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Soy Food (Tofu) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Soy Food (Other Product Types) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Soy Food (Other Product Types) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Soy Food (Organic) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Soy Food (Organic) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Soy Food (Conventional) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Soy Food (Conventional) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Soy Food Market: Sales through Supermarkets and Hypermarkets (in Million US$), 2018 & 2023
Figure 27: Global: Soy Food Market Forecast: Sales through Supermarkets and Hypermarkets (in Million US$), 2024-2032
Figure 28: Global: Soy Food Market: Sales through Departmental Stores (in Million US$), 2018 & 2023
Figure 29: Global: Soy Food Market Forecast: Sales through Departmental Stores (in Million US$), 2024-2032
Figure 30: Global: Soy Food Market: Sales through Convenience Stores (in Million US$), 2018 & 2023
Figure 31: Global: Soy Food Market Forecast: Sales through Convenience Stores (in Million US$), 2024-2032
Figure 32: Global: Soy Food Market: Online Sales (in Million US$), 2018 & 2023
Figure 33: Global: Soy Food Market Forecast: Online Sales (in Million US$), 2024-2032
Figure 34: Global: Soy Food Market: Sales through Other Distribution Channels (in Million US$), 2018 & 2023
Figure 35: Global: Soy Food Market Forecast: Sales through Other Distribution Channels (in Million US$), 2024-2032
Figure 36: Global: Soy Food (Dairy Alternatives) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Soy Food (Dairy Alternatives) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Soy Food (Meat Alternatives) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Soy Food (Meat Alternatives) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Global: Soy Food (Bakery and Confectionary) Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Soy Food (Bakery and Confectionary) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Global: Soy Food (Functional Foods) Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Global: Soy Food (Functional Foods) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Global: Soy Food (Infant Nutrition) Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Global: Soy Food (Infant Nutrition) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Global: Soy Food (Other End-Uses) Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Global: Soy Food (Other End-Uses) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Asia Pacific: Soy Food Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Asia Pacific: Soy Food Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: North America: Soy Food Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: North America: Soy Food Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Europe: Soy Food Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Europe: Soy Food Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Middle East and Africa: Soy Food Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Middle East and Africa: Soy Food Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Latin America: Soy Food Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Latin America: Soy Food Market Forecast: Sales Value (in Million US$), 2024-2032

List of Tables

Table 1: Global: Soy Food Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Soy Food Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
Table 3: Global: Soy Food Market Forecast: Breakup by Category (in Million US$), 2024-2032
Table 4: Global: Soy Food Market Forecast: Breakup by Distribution Channel (in Million US$), 2024-2032
Table 5: Global: Soy Food Market Forecast: Breakup by End-Use (in Million US$), 2024-2032
Table 6: Global: Soy Food Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 7: Global: Soy Food Market Structure
Table 8: Global: Soy Food Market: Key Players