World Soy Food Market to reach $ 42.3 billion by 2015

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India produces 4% of the total global soy production

global market for soybean industrySoy food commonly known as Soybeans is a rich source for high level energy as they are the topmost suppliers of Protein. There is a huge population around the globe taking this nutrient on a daily basis especially its demand is more in the western countries as compared to the Asian regions. The plant is a species of legume which had originated from the East Asian region. The plant is classified as an oilseed rather than a pulse by the Food and Agricultural Organization (FAO) department of the United Nations (UN). However, the plant is today widely grown as its edible bean is highly in demand for its multiple usages. There are innumerable products available by processing this bean such as products for animal feed which are high in protein and also the packaged food products which are hugely successful just because of its nutrient content.

Soy vegetable oil is one of the primary products that are produced by the systematic processing of the Soybean crop.

Region-wise growth of the market:

The global market for soybean industry is on the rise as new innovative food products are constantly introduced into the market. Products like sauces, oil along with the energy boosting shakes are widely famous around the globe benefiting the producers handsomely. The US is the largest producer of this crop with a major share of 35% of the total global produce. The superpower is followed by Brazil, Argentina and China with respective contributions of 27%, 19% and 6%. The bean contains ample amounts of essential acids which are alpha-linolenic acid, phytic acid and isoflacones.

The global market for soy and milk products was valued at $8,500 million by the end of 2010 and the same is expected to cross over a value of $13,000 million by the close of 2018. This growth is estimated at a CAGR of 6% for the period (2013-2018).though the US is ranked as the largest producer of the protein form; the European region is the largest consuming part of the globe with an estimation of demands in Asia Pacific climbing up in the years to come.

According to a market research study; the world market for Soy foods alone is estimated to be at a value of around $42.3 billion by the finish of 2015. This massive market for the product is forecasted on the demanding atmosphere emerging from all over the world, awareness of health advantages possible due to its consumption, improving disposal income rates.

Benefits of consuming Soya, reasons for demands:                  

Global Soy Oil MarketThere is strong medical evidence in favor of Soy food products especially soya bean oil as medical researchers have found them to be an effective protector against the hazards of Cancer and many more deadly ailments. A proper intake of soy proves healthy for the heart as well as bones and skin too. Consumption of these food products is a routine normal practice among the developed countries whereas; the trend is fast spreading in the developing countries which are targeted as high potential markets by the growers. The introduction of the notorious intake in different forms such as health drinks, sauces and others is proving positive in the developing regions where the food ingredient is taking to the mainstream.

This trend of developing population consuming soy products is increasing, this trend is sure to convert the industry into a major success in coming years. Special country focused studies are carried out to judge and estimate productions of the edible seed.

Reference: Image courtesy of winnond at FreeDigitalPhotos.net