Soybean Food and Beverage Products Market Set for Strong Growth, Forecasted to Reach $69.9 Billion by 2028

The Business Research Company's Soybean Food And Beverage Products Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 3, 2024 /EINPresswire.com/ -- The soybean food and beverage products market size has shown robust growth, increasing from $53.03 billion in 2023 to $55.86 billion in 2024, with a compound annual growth rate (CAGR) of 5.3%. This growth in recent years can be attributed to rising health consciousness, the benefits of soy for heart health, the popularity of dairy alternatives, government support for soy cultivation, and globalization of food markets.

Rising Demand for Plant-Based Diets Propels Market Expansion
The market is expected to continue its upward trajectory, reaching $69.9 billion by 2028, growing at a CAGR of 5.8%. Factors driving this growth include the plant-based diet movement, expansion in functional beverages, increased applications in food processing, nutritional fortification trends, allergen-free product demand, and the expansion of e-commerce platforms.

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Key Players and Technological Advancements
Leading companies such as Cargill Incorporated, The Archer-Daniels-Midland Company, and Nestle SA are focusing on technological advancements to maintain their market positions. For example, Tetra Pak introduced the 'Whole Soya' processing technology in February 2023, which enhances soy drink production by utilizing the entire soybean, including its fiber component, okara.

Market Segments
1. Type: Soybean Food Products, Soybean Additives/Ingredients, Soybean Oil
2. Source: Genetically Modified (GM), Non-Genetically Modified (Non-GM) /Genetically Engineered (GM)
3. Distribution Channel: Supermarkets, Hypermarkets, Specialty Stores, Online Retailers, Convenience Stores, Departmental Stores, Other Distribution Channels
4. Applications: Bakery And Confectionery, Animal Feed, Dairy Products, Functional Food And Supplements, Meat Products, Infant Foods, Other Applications

Regional Insights: North America Leading the Market
In 2023, North America dominated the soybean food and beverage products market. The region's strong position is supported by a robust consumer base embracing soy-based products across various applications.

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Soybean Food And Beverage Products Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Soybean Food And Beverage Products Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on soybean food and beverage products market size, soybean food and beverage products market drivers and trends, soybean food and beverage products market major players, competitors' revenues, market positioning, and market growth across geographies. The soybean food and beverage products market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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