Soybean Food Beverage Products Market To Exceed $85.1 Bn By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Major soybean food and beverage products market participants include Willmar International, Cargill, CHS, ADM, Kikkoman Group, Alpro, Barentz, Eden Food, Caramuru, Hain Celestial Group

Selbyville, Delaware, Nov. 21, 2024 (GLOBE NEWSWIRE) --

The soybean food and beverage products market valuation is predicted to cross USD 85.1 billion by 2032, reported in a research analysis by Global Market Insights Inc.

This expansion is driven by an increasing health awareness and a growing preference for plant-based alternatives. Popular applications within this market include soy beverages and protein-rich products, catering to consumers who prioritize health, follow vegan diets, or experience lactose intolerance.

Several factors are fueling growth in the soybean food and beverage market sector. First, there is heightened awareness of the health advantages associated with soy, such as its high protein content and potential cardiovascular benefits. This is complemented by a growing demand for plant-based diets driven by concerns over lactose intolerance and the environmental impact of traditional dairy production.

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Furthermore, product innovation, including fortified and flavored soy options, is attracting a broader range of consumers. The popularity of convenient, ready-to-drink products, along with improved distribution channels, including online platforms and health-focused retailers, is also contributing to the strong performance of the soybean food and beverage industry.

Among the various product types, soy beverages are projected to capture a significant soybean food and beverage products market share, estimated at around USD 22.1 billion and showing a CAGR of 5.9% by 2032. These beverages are widely recognized as nutritious and versatile dairy substitutes. Rich in essential nutrients, they especially appeal to consumers seeking healthier options or those with dietary restrictions.

The adaptability of soy beverages allows them to be incorporated into numerous culinary applications, from direct consumption to use in recipes. Additionally, the increasing trend toward plant-based and vegan diets further strengthens the position of soy beverages in the market. Ongoing innovations in flavors and fortification continue to enhance their attractiveness, ensuring their place as a staple in the ever-evolving food and beverage landscape.

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North America the soybean food and beverage products market for is expected to achieve a CAGR of 5.6%, reaching approximately USD 25.6 billion by 2032. This growth is largely attributed to a significant consumer shift toward health and wellness. As more individuals embrace plant-based diets and report higher rates of lactose intolerance, the demand for soy products continues to rise.

Moreover, consumers in North America are becoming increasingly knowledgeable about the nutritional benefits of soy. A strong retail infrastructure, encompassing supermarkets and online shopping platforms, provides easy access to a diverse range of soy beverages. Additionally, the region's focus on innovative product development and effective marketing strategies bolsters its position in the global market.

Partial chapters of report table of contents (TOC):

Chapter 1 Methodology & Scope

1.1 Market scope & definition

1.2 Base estimates & calculations

1.3 Forecast calculation

1.4 Data sources

1.4.1 Primary

1.4.2 Data mining sources

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis

Chapter 3 Soybean Food Beverage Products Market Insights

3.1 Industry ecosystem analysis

3.1.1 Value chain

3.1.2 Key manufacturers

3.1.3 Go to market routes

3.1.4 Key distributors

3.1.4.1 New distribution channels

3.1.5 Profit margins across the industry

3.2 Industry impact forces

3.2.1 Growth drivers

3.2.1.1 Increasing health consciousness among consumers

3.2.1.2 Rising demand for plant-based and dairy alternatives

3.2.1.3 Innovations in product formulation and flavors.

3.2.2 Market challenges

3.2.2.1 Price volatility of raw materials

3.2.2.2 Competition from other plant-based alternatives

3.2.3 Market opportunities

3.2.3.1 New markets/applications

3.2.3.2 Growth potential analysis

3.3 Raw material landscape

3.3.1 Manufacturing trends

3.3.1.1 Technology evolution

3.3.1.2 Sustainable manufacturing

3.3.1.2.1 Green practices

3.3.1.2.2 Decarbonization

3.3.2 New raw materials

3.3.3 Raw material pricing trends (USD/Tons)

3.3.3.1 North America

3.3.3.2 Europe

3.3.3.3 Asia Pacific

3.3.3.4 Latin America

3.3.3.5 MEA

3.4 Regulations & market impact

3.5 Porter's analysis

3.6 PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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