Valley Cottage, NY -- (SBWIRE) -- 06/22/2020 -- Soy food products are results of processing soybean. They serve as substitute goods in the global market where milk and milk products like yogurts, cheese, flavored milk, and others are absent. Soybeans are classified as protein under the classes of food, so they are a good source of amino acids that are essential for the development of the body. In addition to this, soy is composed of omega 3 and omega 6 fatty acids.

Soybeans can be used for a variety of food products such as tofu, tamari, tempeh, soy flour, and soymilk. This diversity of soy in food products has been driving the soy food products market globally.

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Soy Food Products Market Driven by Consumers' Switch towards Healthy Lifestyle

The increase in demand for health-enhancing food products among consumers, food, and beverage industries is working towards manufacturing products with such quality. And the Soy food products market as a company under the food and beverage industry won't be exempted from such production.

Some of the health benefits of soy include; increase in bone density, provision of vitamins K1, B12 and B6, maintenance of heart health, breast cancer prevention in women, and provision of minerals like iron, phosphorus, manganese, copper, and zinc.

As consumers are moving towards a healthy lifestyle, the soy food products market is expected to have significant growth within the foreseeable period. However, individuals suffering from kidney stone disease are exempt from consuming soy food as they are rich in oxalates. Oxalates have a detrimental effect on individuals with kidney problems.

Conversion of Soybean into Numerous Products

Soybean can be processed into a variety of finished products such as edamame, miso, natto, teriyaki, soymilk, soy flour, tofu, tamari, tempeh, and others. Each of these finished products acts as an alternative to milk products. For instance, tofu is an alternative for cheese. Soy can also be used to produce baked goods, pasta, cereals, and meat products. Hence, soy can be used as a substitute for milk and meat products.

Based on price, soy food product price is considerably lower than that of milk products, which attracts more consumers towards the products. Therefore consumers consider opportunity cost.

The diversity in the application of soybeans and lower price are two key factors projected to boost the soy food products market within the forecast period.

Soy Food Products Market Restraints

One of the major challenges faced by this market is growing awareness regarding the side effects of consuming soy-based products. Some of these side effects include the increase in blood sugar level (diabetes), probability of heart failure, and others.

Soy Food Products Market: Region-wise Analysis

The Asia Pacific holds the highest dominance in the global soy food products market while Europe and the North America regions rank second and third in terms of market dominance, respectively.

Soy Food Product Market: Competitive Landscape

Some of the key players of the market are DuPont Solae, Northern Soy Inc., Whole Soy & Co., ADM Inc. Solbar Ltd., Cargill Inc., The Scoular Company, and Linyi Shansong Biological Products Co. Ltd.

Global Soy Food Products Market Segment Analysis

The report categorizes the soy food products market is segmented into three on the basis of type, application, and region.

Soy Food Products Market Analysis by Type
? Food products:
? Fermented (Miso, tempeh, Soy mayonnaise, tuba, Soynut butter, natto, cheese, yogurt, and others)
? Non-fermented (Soy flour, Soy fiber, Soy grits, Soymilk, Soynuts)
? Additives:
? Protein isolates
? Soy protein concentrates
? Textured soy protein
? Others
? Oils:
? Soybean oil
? Lecithin
? Others

Soy Food Products Market Analysis by Application
? Bakery and confectionery
? Dairy products
? Meat products
? Functional foods
? Infant foods

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Regional Analysis of the Soy Food Products Market
? North America (U.S., Canada)
? Latin America (Mexico, Brazil)
? Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
? East Asia (China, Japan, South Korea)
? South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
? Oceania (Australia, New Zealand)
? Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Report Highlights
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.