Global Soy Foods Market to Reach US$42.3 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Soy Foods markets. The global market for Soy Foods is forecast to reach US$42.3 billion by the year 2015. Increasing health consciousness, growing demand for nutritious diets, and rising consumer awareness about the health benefits of soy foods are the key factors fueling growth in the global soy foods market. Other market drivers include increase in aging population, growing popularity of organic soyfoods, and introduction of innovative new products.
San Jose, CA (Vocus/PRWEB) January 10, 2011
Worldwide soy foods market continues to be driven by increasing awareness among consumers about the health benefits offered, including heart health, bone health, and protection from cancer. In addition to its high protein and fiber content, Soyfoods provide low concentration of saturated fat, and is completely without cholesterol. Soy foods have now emerged as a healthier and convenient dietary alternative in developed nations. Even in developing markets, soy foods have found a place in the mainstream market and are provided as packaged foods in several varieties. The shift of soy foods from small-sized natural food outlets to mainstream markets in developing countries could be attributed to market liberalization and improved supply network. The market for soy-based products expanded considerably with innovative and continuous launch of various soy products. Formerly, soy products found in retail stores were limited to tofu, bitter-tasting soymilk and poorly textured meat analogues. With advanced technology, development of tasty soy products has become easier. Several types of tasty soy beverages and snacks continue to hit the market every year.
Global demand for soy foods witnessed a significant increase over the past years. Although the market witnessed a 6% growth from 2006-2007, the market for soy supplements was adversely impacted by the anti-soy allegations that surfaced during that time. However, subsequent research and investigations rendered the allegations vague on grounds of incorrect research methodology used to come to such inferences. The soy foods industry, thereafter, recovered from the controversies and has since been marching forward.
Asia-Pacific represents the largest regional market for Soy Foods worldwide, as stated by the new market research report on Soy Foods. The US trails behind Asia-Pacific, followed by the European market. Future market growth is expected to be driven by developing regional markets such as Asia-Pacific and Latin America. Latin American market for soy foods alone is projected to register a compounded annual growth rate of more than 4.0% during the analysis period. Segment wise, Whole Soy Foods represents the largest product segment. Market for Soy Ingredients is projected to record a compounded annual growth rate of 3.4% during the analysis period.
Increase in aged population represents a major driver for improving soyfood sales. Aging population also influence the commercial viability of soy products and depicts increased concern for major disorders such as heart diseases, primarily common between 35 and 54 years of age. In addition, soy proteins are alternatively used as meat substitute that encourages aged consumers to consume soy products. Several supplement companies formulate soy-based products to meet the special nutritional requirements of women. The latest trend is to combine other herbal or Vitamin, Mineral and Supplement (VMS) ingredients with soy or hormonal stage-specific conditions. Companies are increasingly turning towards soy products addressing women health. Several soy supplement manufacturers introduced unique formulations, including breakfast cereals and bars marketed as rich sources of soy protein.
Major players profiled in the report include Alpro, Archer Daniels Midland Company, Dean Foods Company, Eden Foods, Inc, Galaxy Nutritional Foods, Inc., Hain Celestial Group, Kikkoman Group, Soyaworld Inc., The Solae Company and Turtle Island Foods, Inc.
The research report titled “Soy Foods: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the soy foods markets, impact of the recession on the market, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for soy foods market for the years 2007 through 2015 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Key product segments analyzed include Whole Soy Foods (Soy milk and Others), Soy Ingredients, and Soy Oil. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www. strategyr. com/Soy_Foods_Market_Report. asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Web Site: http://www. StrategyR. com/
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