Soybean Food & Beverage Products Market by Type (Soybean Food Products, Soybean Additives/Ingredients, Soybean Oil), Source (GM, Non-GM/GE), Distribution Channel (Supermarkets, Hypermarkets), Application, and Region - Global Forecast to 2027

Abstract
The global soybean food and beverage products market is estimated to be valued at USD 51.4 billion in 2022. It is projected to reach USD 68.3 billion by 2027, recording a CAGR of 5.8% during the forecast period. Affordability, convenience, taste, and health benefits are important factors that drive the growth of the soybean food and beverage products market.
Increasing health concerns such as obesity and high blood pressure are driving manufacturers in the soybean food & beverage industry to develop sustainable measures, such as the usage of healthy and natural soybean oils, soybean ingredients, soybean food & additives etc. instead of artificial and synthetic ingredients as coloring and flavoring agents. Increased health-consciousness and calorie counting have resulted in an increase in demand for soybean food and beverage products; this market is also driven by product innovation and leading to higher purchase volumes of premium soybean food product offerings.

“North America is projected to witness the growth of 6.3% during the forecast period.”

North America is the largest market for soy protein ingredients. In 2021, it accounted for a 21.3% share of the global soybean food & beverage products market. Growing lactose intolerance among people, which leads them to consume soy products rather than milk and its byproducts, is the secondary driver. Many people who are lactose intolerant live in the US, Europe, Africa, and Asia. Adding various flavors to soy products increases their appeal and demand among consumers. The price of soy is a major selling point because it is significantly less expensive than milk products. More customers are drawn to the products as a result. Given that soy has comparatively fewer calories and several health benefits, health consciousness individuals primarily drive the soy market.

“Innovation & developments related to plant-based protein to augment vegan trend .”

According to a study published by the European Vegetarian Union in 2019, the vegan population in Europe contributes to more than 6% of the European population. This formed one of the prime factors driving the food & beverage manufacturers toward innovation and development of meat alternatives, dairy alternatives, and protein nutritional beverages, and a boost to plant-based food & beverages. Manufacturers such as Archer Daniels Midland Company (US), DuPont (US), Roquette Frères (France), Kerry Group (Ireland), Ingredion (US), Beyond Meat (US), and Tyson Foods (US) have been emphasizing the development of plant-based protein food & beverages.

“Possibilities of nutritional and vitamin deficiencies among vegan is a restratint in the soybean food and beverage products market .”

Vegan diets have been beneficial for human health, but completely cutting animal-sourced food products might pose uncertainty in obtaining crucial nutrients. Plenty of plant protein sources include lentils, beans, chickpeas, nuts, seeds, soy products, and whole grains. Many consumers have been assuming that getting enough protein on a plant-based diet will not be a problem. Still, eradicating animal-sourced food products can cause a deficiency of vitamin B12, omega-3 fatty acids, iron, and creatinine. Soy proteins have large quantities of phytic acid, which has the potential to block the absorption of essential minerals such as calcium, magnesium, copper, iron, and zinc.

Therefore, vegetarians who consume tofu as an alternative to meat and dairy proteins are prone to a mineral deficiency. Omega-3 are essential fatty acids that are crucial for adverse effects on brain and heart health. They are largely sourced from fish and eggs but are also found in walnuts and hemp seeds at comparatively low levels. Meat consists of a type of iron, called heme iron, which is much better absorbed in the human body than non-heme iron sourced from plant-based food. Non-heme iron is poorly absorbed, and its absorption can be limited further by anti-nutrients present in plant-based food, such as phytic acid. Therefore, these deficiencies in plant-based food products are projected to restrain the global plant-based protein market during the forecast period.

Break-up of Primaries:
By Value Chain Side: Demand Side – 41%, Supply Side – 59%
By Designation: Managers – 24%, CXOs – 31%, and Executives- 45%
By Region: Europe - 18%, Asia Pacific – 51%, North America - 21%, RoW – 10%

Leading players profiled in this report:
•Willmar International Limited (Singapore)
•Cargill, Incorporated (US)
•CHS Inc (US)
•ADM (US)
•Kikkoman Group (Japan)
•Alpro (Belgium)
•Barentz (Netherlands)
•Eden Food (US)
•Caramuru (Brazil)
•Hain Celestial Group (US)
•Patanjali Foods Limited (India)
•Vitasoy (Hong Kong)
•Galaxy Nutritional Foods (US)
•Foodchem International Corporation (China)
•Crown Soya Protein Group (China)
•The Scoular Company (US)
•Northern Soy (US)
•Solbar Ltd (China)
•Farbest Tallman Foods Corporation (US)
•Perdue Agribusiness (US)
•Sotexpro (France)
•Bermil Group (Brazil)
•Rio Pardo Potential Vegetal S.A. (Brazil)
•Good Catch Foods (Pennysylvani)
•Living Foods (India)

Research Coverage:
The report segments the soybean food and beverage products market on the basis of type, end-user, source, and region. In terms of insights, this report has focused on various levels of analyses—the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global soybean food and beverage products , high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.

Reasons to buy this report:
•To get a comprehensive overview of the soybean food and beverage products market
•To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
•To gain insights about the major countries/regions in which the soybean food and beverage products market is flourishing

Content
Table of Contents

1INTRODUCTION32
1.1STUDY OBJECTIVES32
1.2MARKET DEFINITION32
1.3STUDY SCOPE33
FIGURE 1MARKET SEGMENTATION33
1.3.1REGIONS COVERED34
1.3.2INCLUSIONS & EXCLUSIONS34
1.3.3YEARS CONSIDERED36
1.4CURRENCY CONSIDERED36
TABLE 1USD EXCHANGE RATES, 2017–202137
1.5UNITS CONSIDERED37
1.6STAKEHOLDERS37
1.7RECESSION IMPACT38
2RESEARCH METHODOLOGY39
2.1RESEARCH DATA39
FIGURE 2SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: RESEARCH DESIGN39
2.1.1SECONDARY DATA40
2.1.1.1Key data from secondary sources40
2.1.2PRIMARY DATA40
2.1.2.1Key data from primary sources41
2.1.2.2Key industry insights42
2.1.2.3Breakdown of primary interviews42
FIGURE 3BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION42
2.2MARKET SIZE ESTIMATION43
2.2.1MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH43
FIGURE 4SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH44
FIGURE 5SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET SIZE ESTIMATION (DEMAND SIDE)45
2.2.2MARKET SIZE ESTIMATION: TOP-DOWN APPROACH45
FIGURE 6SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET SIZE ESTIMATION: TOP-DOWN APPROACH46
FIGURE 7SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET SIZE ESTIMATION, BY TYPE (SUPPLY SIDE)46
2.3GROWTH RATE FORECAST ASSUMPTION47
2.4DATA TRIANGULATION47
FIGURE 8DATA TRIANGULATION47
2.5ASSUMPTIONS48
TABLE 2ASSUMPTIONS48
2.6LIMITATIONS & ASSOCIATED RISKS49
TABLE 3LIMITATIONS & ASSOCIATED RISKS49
2.7IMPACT OF RECESSION49
3EXECUTIVE SUMMARY50
TABLE 4SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET SNAPSHOT, 2022 VS. 202750
FIGURE 9SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION)51
FIGURE 10SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2022 VS. 202752
FIGURE 11SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION)52
FIGURE 12SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: REGIONAL SNAPSHOT53
4PREMIUM INSIGHTS54
4.1OPPORTUNITIES FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET PLAYERS54
FIGURE 13RISE IN DEMAND FOR PLANT-BASED PRODUCTS TO FUEL DEMAND FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS54
4.2SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY TYPE AND REGION55
FIGURE 14ASIA PACIFIC TO ACCOUNT FOR LARGEST MARKET SHARE55
4.3ASIA PACIFIC: SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY COUNTRY AND TYPE56
FIGURE 15CHINA CONSUMED MAJORITY OF SOYBEAN FOOD AND BEVERAGE PRODUCTS IN 202156
4.4SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: MAJOR REGIONAL SUBMARKETS57
FIGURE 16CHINA ACCOUNTED FOR LARGEST MARKET SHARE IN 202157
5MARKET OVERVIEW58
5.1INTRODUCTION58
5.2MACROECONOMIC INDICATORS58
5.2.1GROWING TREND OF MEAT AND DAIRY ALTERNATIVES58
FIGURE 17US: ANNUAL SALES OF PLANT-BASED FOOD & BEVERAGES, 2018–2021 (USD BILLION)59
5.2.2GROWING VEGAN AND FLEXITARIAN POPULATION WORLDWIDE59
FIGURE 18GLOBAL VEGAN POPULATION, 2014-202260
5.2.3INCREASED SOYBEAN PRODUCTION60
FIGURE 19SOYBEAN PRODUCTION, 2016–2020 (MILLION TONS)60
5.3MARKET DYNAMICS61
FIGURE 20SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES61
5.3.1DRIVERS61
5.3.1.1Rising instances of lactose intolerance and milk allergies globally61
5.3.1.2Innovations & developments related to plant-based protein to augment vegan trend62
5.3.1.3Preferred alternative over meat and dairy proteins62
5.3.2RESTRAINTS63
5.3.2.1Allergies associated with plant-based protein sources63
5.3.2.2Possibilities of nutritional & vitamin deficiencies among vegans63
5.3.3OPPORTUNITIES64
5.3.3.1Soy used for customization of food & beverage to create versatile products64
5.3.4CHALLENGES65
5.3.4.1Concerns over quality of food & beverages due to adulteration of GM ingredients65
6INDUSTRY TRENDS66
6.1INTRODUCTION66
6.2REGULATORY FRAMEWORK66
6.2.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS66
TABLE 5NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS66
TABLE 6EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 7ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 8SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
TABLE 9AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
6.2.2NORTH AMERICA69
6.2.2.1US69
TABLE 10SOYMILK COMPOSITION70
6.2.2.2Canada70
6.2.3EUROPE71
6.2.4ASIA PACIFIC71
6.2.4.1China72
6.2.4.2India73
6.2.5SOUTH AMERICA74
6.2.5.1Argentina74
6.2.5.2Brazil74
6.3PATENT ANALYSIS75
FIGURE 21NUMBER OF PATENTS APPROVED FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS, 2012–202175
FIGURE 22JURISDICTIONS WITH HIGHEST PATENT APPROVALS FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS, 2012-202176
TABLE 11LIST OF KEY PATENTS PERTAINING TO SOYBEAN FOOD AND BEVERAGE PRODUCTS, 2018–202276
6.4VALUE CHAIN ANALYSIS77
6.4.1RESEARCH & DEVELOPMENT77
6.4.2SOURCING OF RAW MATERIALS77
6.4.3PRODUCTION & PROCESSING78
6.4.4DISTRIBUTION, MARKETING, AND SALES78
FIGURE 23SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: VALUE CHAIN78
6.5TRENDS/DISRUPTIONS IMPACTING BUYERS IN SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET79
FIGURE 24REVENUE SHIFT FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET79
6.6MARKET ECOSYSTEM79
6.6.1DEMAND SIDE79
6.6.2SUPPLY SIDE80
FIGURE 25SOYBEAN FOOD AND BEVERAGE PRODUCTS: MARKET MAP80
TABLE 12SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: ECOSYSTEM VIEW80
6.7TRADE ANALYSIS81
6.7.1SOYBEAN OIL81
FIGURE 26IMPORT VALUE OF SOYBEAN FOOD AND BEVERAGE PRODUCTS FOR KEY COUNTRIES, 2017-202181
TABLE 13TOP 10 IMPORTERS OF CRUDE SOYBEAN OIL, 2021 (USD)82
FIGURE 27EXPORT VALUE OF SOYBEAN FOOD AND BEVERAGE PRODUCTS FOR KEY COUNTRIES, 2017-202182
TABLE 14TOP 10 EXPORTERS OF CRUDE SOYBEAN OIL, 2021 (USD)83
6.7.2SOYBEANS83
FIGURE 28EXPORT VALUE OF SOYBEAN FOR KEY COUNTRIES, 2017-202183
TABLE 15EXPORT VALUE OF SOYBEAN FOR KEY COUNTRIES, 2021 (USD)84
FIGURE 29IMPORT VALUE OF SOYBEAN FOR KEY COUNTRIES, 2017-202185
TABLE 16IMPORT VALUE OF SOYBEAN FOR KEY COUNTRIES, 2021 (USD)85
6.8PRICING ANALYSIS86
6.8.1AVERAGE SELLING PRICE ANALYSIS: SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD/KG)86
FIGURE 30PRICING ANALYSIS FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY TYPE, 2017-2021 (USD/KG)86
6.8.2AVERAGE SELLING PRICE ANALYSIS: SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD/KG)87
FIGURE 31PRICING ANALYSIS FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET, BY REGION, 2017-2021 (USD/KG)87
FIGURE 32AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE, 2017–2021 (USD/KG AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE, 2017–2021 (USD/KG)87
6.9TECHNOLOGY ANALYSIS88
6.9.13-D PRINTING88
6.9.2ISOLATED SOYBEAN PROTEINS88
TABLE 17COMPOSITION OF ISP (% WEIGHT) IN SOYBEAN PROTEIN PRODUCTS88
FIGURE 33PRODUCTION OF ISOLATED SOYBEAN PROTEINS: TECHNOLOGY ANALYSIS89
6.9.3EXTRUSION89
6.10CASE STUDIES90
6.10.1ADM AND BENSON HILL PARTNER TO SCALE INNOVATION IN ULTRA-HIGH PROTEIN SOY90
6.10.2CDF CORPORATION AND KIKKOMAN GROUP COLLABORATE TO PACK AND TRANSPORT SOY SAUCE SAFELY90
6.11KEY CONFERENCES & EVENTS, 2022–202391
TABLE 18SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: DETAILED LIST OF CONFERENCES & EVENTS, 2022–202391
6.12PORTER’S FIVE FORCES ANALYSIS92
TABLE 19SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: PORTER’S FIVE FORCES ANALYSIS92
6.12.1THREAT OF NEW ENTRANTS92
6.12.2THREAT OF SUBSTITUTES93
6.12.3BARGAINING POWER OF SUPPLIERS93
6.12.4BARGAINING POWER OF BUYERS94
6.12.5INTENSITY OF COMPETITIVE RIVALRY94
6.13KEY STAKEHOLDERS AND BUYING CRITERIA95
6.13.1KEY STAKEHOLDERS IN BUYING PROCESS95
FIGURE 34INFLUENCE OF STAKEHOLDERS ON BUYING SOYBEAN FOOD AND BEVERAGE PRODUCTS APPLICATION95
TABLE 20INFLUENCE OF STAKEHOLDERS ON BUYING FOR TOP THREE APPLICATIONS96
6.13.2BUYING CRITERIA96
FIGURE 35KEY BUYING CRITERIA FOR TOP APPLICATIONS96
TABLE 21KEY BUYING CRITERIA FOR SOYBEAN FOOD AND BEVERAGE PRODUCTS APPLICATIONS97
6.14RECESSION IMPACT ON SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET97
6.14.1MACROECONOMIC INDICATORS OF RECESSION97
FIGURE 36INDICATORS OF RECESSION97
FIGURE 37WORLD INFLATION RATE: 2011-202198
FIGURE 38GLOBAL GDP: 2011-2021 (USD TRILLION)99
FIGURE 39GLOBAL FOOD INGREDIENTS MARKET: EARLIER FORECAST VS RECESSION FORECAST100
FIGURE 40RECESSION INDICATORS AND THEIR IMPACT ON SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET101
FIGURE 41GLOBAL SOYBEAN FOOD AND BEVERAGE PRODUCTS MARKET: EARLIER FORECAST VS RECESSION FORECAST101
7SOYABEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE103
7.1INTRODUCTION104
FIGURE 42SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION)104
TABLE 22SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)104
TABLE 23SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)105
TABLE 24SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (KILOTONS)105
TABLE 25SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (KILOTONS)105
7.2SOYBEAN FOOD PRODUCTS105
7.2.1SOYBEAN FOOD PRODUCTS TO BOOST SOYBEAN FOOD MARKET105
TABLE 26SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)106
TABLE 27SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)106
TABLE 28SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)107
TABLE 29SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)107
7.2.2FERMENTED107
7.2.2.1Fermented foods rich in antioxidants to provide health benefits107
TABLE 30FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)108
TABLE 31FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)108
TABLE 32FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)109
TABLE 33FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)109
7.2.2.2Soy Sauce110
7.2.2.2.1Nutritious and umami flavor to augment demand for soy sauces110
TABLE 34SOY SAUCE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)110
TABLE 35SOY SAUCE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)111
7.2.2.3Natto111
7.2.2.3.1Ready-to-eat market to surge demand111
TABLE 36NATTO: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)112
TABLE 37NATTO: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)112
7.2.2.4Tempeh112
7.2.2.4.1Growing consumption of tempeh likely to drive demand112
TABLE 38TEMPEH: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)113
TABLE 39TEMPEH: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)113
7.2.2.5Miso113
7.2.2.5.1Demand for healthy and organic food113
TABLE 40MISO: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)114
TABLE 41MISO: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)114
7.2.2.6Soy Cheese115
7.2.2.6.1Shift toward soy cheese to drive market115
TABLE 42SOY CHEESE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)115
TABLE 43SOY CHEESE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)115
7.2.2.7Soy Yogurt116
7.2.2.7.1Growing population of lactose intolerance to surge demand for plant-based yogurt116
TABLE 44SOY YOGURT: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)116
TABLE 45SOY YOGURT: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)117
7.2.2.8Soy Nut Butter117
7.2.2.8.1Shift toward soy nut butter to lose weight117
TABLE 46SOY NUT BUTTER: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)117
TABLE 47SOY NUT BUTTER: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)118
7.2.2.9Tofu118
7.2.2.9.1Veganism to contribute to growth of tofu globally118
TABLE 48TOFU: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)119
TABLE 49TOFU: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)119
7.2.2.10Soy Mayonnaise119
7.2.2.10.1Increased demand for plant-based food products to raise demand for soy mayonnaise119
TABLE 50SOY MAYONNAISE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)120
TABLE 51SOY MAYONNAISE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)120
7.2.2.11Yuba120
7.2.2.11.1Increase in demand for Yuba in Asian countries120
TABLE 52YUBA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)121
TABLE 53YUBA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)121
7.2.2.12Other Fermented Soybean Food Products121
TABLE 54OTHER FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)122
TABLE 55OTHER FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)122
7.2.3NON-FERMENTED123
7.2.3.1Demand for gluten-free, organic, and natural food products123
TABLE 56NON-FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)123
TABLE 57NON-FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)123
TABLE 58NON-FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)124
TABLE 59NON-FERMENTED SOYBEAN FOOD PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)124
7.2.3.2Soy Flour124
7.2.3.2.1Wide range of applications for soy flour to support market growth124
TABLE 60SOY FLOUR: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)125
TABLE 61SOY FLOUR: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)125
7.2.3.3Soy Grits126
7.2.3.3.1High quality protein and low saturated fat to drive demand for soy grits126
TABLE 62SOY GRITS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)126
TABLE 63SOY GRITS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)127
7.2.3.4Soymilk127
7.2.3.4.1Demand for low-calorie food & beverages to drive demand for soymilk127
TABLE 64SOYMILK: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)128
TABLE 65SOYMILK: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)128
7.2.3.5Soy Nuts128
7.2.3.5.1Abundance of antioxidants in soy nuts128
TABLE 66SOY NUTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)129
TABLE 67SOY NUTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)129
7.3SOYBEAN ADDITIVES/INGREDIENTS129
7.3.1HIGH NUTRITIONAL VALUE OF SOY ADDITIVES TO CATER TO DEMAND AMONG POPULATION129
TABLE 68SOYBEAN ADDITIVES/INGREDIENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)130
TABLE 69SOYBEAN ADDITIVES/INGREDIENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)130
TABLE 70SOYBEAN ADDITIVES/INGREDIENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)130
TABLE 71SOYBEAN ADDITIVES/INGREDIENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)131
7.3.2SOY PROTEIN CONCENTRATE131
7.3.2.1Paleo diet to impact soy protein concentrate market131
TABLE 72SOY PROTEIN CONCENTRATES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)132
TABLE 73SOY PROTEIN CONCENTRATES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)132
7.3.3SOY PROTEIN ISOLATES133
7.3.3.1Consumer awareness toward environment to drive market for soy protein isolate133
TABLE 74SOY PROTEIN ISOLATES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)133
TABLE 75SOY PROTEIN ISOLATES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)134
7.3.4TEXTURED SOY PROTEIN134
7.3.4.1Significant rise in demand for plant-based meat alternatives134
TABLE 76TEXTURED SOY PROTEIN: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)135
TABLE 77TEXTURED SOY PROTEIN: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)135
7.3.5SOY FIBER136
7.3.5.1Demand for soy fibers to cater demand of vegetarians and vegans136
TABLE 78SOY FIBER: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)136
TABLE 79SOY FIBER: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)136
7.3.6OTHER SOYBEAN ADDITIVES/INGREDIENTS137
TABLE 80OTHER SOYBEAN ADDITIVES/INGREDIENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)137
TABLE 81OTHER SOYBEAN ADDITIVES/INGREDIENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)137
7.4SOYBEAN OILS138
7.4.1DEMAND FOR SOYBEAN OIL TO INCREASE DUE TO ITS RISING USAGE IN PREPARED FOODS138
TABLE 82SOYBEAN OILS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)138
TABLE 83SOYBEAN OILS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)139
TABLE 84SOYBEAN OILS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)139
TABLE 85SOYBEAN OILS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)139
7.4.2PROCESSED SOYBEAN OIL140
7.4.2.1High smoke point of soybean oil to increase demand in food industries140
TABLE 86PROCESSED SOYBEAN OILS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)141
TABLE 87PROCESSED SOYBEAN OILS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)141
7.4.3LECITHIN141
7.4.3.1Usage of lecithin in food & beverage and pharmaceutical industry141
TABLE 88LECITHIN: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)142
TABLE 89LECITHIN: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)142
8SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY APPLICATION143
8.1INTRODUCTION144
FIGURE 43SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION)144
TABLE 90SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY APPLICATION, 2017–2021 (USD MILLION)145
TABLE 91SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY APPLICATION, 2022–2027 (USD MILLION)145
8.2BAKERY & CONFECTIONERY145
8.2.1USE OF SOY FLOUR AS A BINDING AGENT TO PROPEL DEMAND145
TABLE 92BAKERY & CONFECTIONERY: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)146
TABLE 93BAKERY & CONFECTIONERY: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)146
8.3DAIRY PRODUCTS147
8.3.1SOYMILK AN ALTERNATIVE TO COW MILK TO BOOST BEVERAGE MARKET147
TABLE 94DAIRY PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)147
TABLE 95DAIRY PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)148
8.4MEAT PRODUCTS148
8.4.1SOY AS AN ALTERNATIVE TO MEAT PRODUCTS TO SURGE DEMAND148
TABLE 96MEAT PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)149
TABLE 97MEAT PRODUCTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)149
8.5FUNCTIONAL FOOD & SUPPLEMENTS149
8.5.1SOY FOODS SHOW LOWER CHOLESTEROL LEVEL WHEN INCORPORATED IN FUNCTIONAL FOODS149
TABLE 98FUNCTIONAL FOOD & SUPPLEMENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)150
TABLE 99FUNCTIONAL FOOD & SUPPLEMENTS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)150
8.6INFANT FOODS151
8.6.1RISING INSTANCES OF LACTOSE INTOLERANCE TO DRIVE DEMAND FOR SOY-BASED INGREDIENTS151
TABLE 100INFANT FOODS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)151
TABLE 101INFANT FOODS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)151
 
8.7ANIMAL FEED & PET FOOD152
8.7.1HIGH DIGESTIBILITY OF SOY AND LOW FIBER INTAKE IN CATTLE TO DRIVE DEMAND FOR SOY MEAL152
TABLE 102ANIMAL FEED & PET FOOD: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)153
TABLE 103ANIMAL FEED & PET FOOD: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)153
8.8OTHER APPLICATIONS153
TABLE 104OTHER APPLICATIONS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)154
TABLE 105OTHER APPLICATIONS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)154
9SOYBEAN FOOD & BEVERAGE PRODUCTS MARKETS MARKET, BY SOURCE155
9.1INTRODUCTION156
FIGURE 44SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY SOURCE, 2022 VS. 2027 (USD MILLION)156
TABLE 106SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY SOURCE, 2017–2021 (USD MILLION)157
TABLE 107SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY SOURCE, 2022–2027 (USD MILLION)157
9.2NON-GM/GE157
9.2.1SIGNIFICANT SHIFT TOWARD NUTRITIOUS AND HEALTHY PLANT-BASED DRINKS TO CATER DEMAND FOR NON-GMO BEVERAGES157
TABLE 108NON-GM/NON-GE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)158
TABLE 109NON-GM/NON-GE: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)158
9.3GM159
9.3.1GENETICALLY MODIFIED FOOD MARKET TO GROW DUE TO INCREASED AWARENESS TOWARD HEALTHY LIFESTYLE159
TABLE 110GM: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)159
TABLE 111GM: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)160
10SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET,
BY DISTRIBUTION CHANNEL161
10.1INTRODUCTION162
FIGURE 45SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2022 VS. 2027 (USD MILLION)162
TABLE 112SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2017–2021 (USD MILLION)163
TABLE 113SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2022–2027 (USD MILLION)163
 
10.2SUPERMARKETS163
10.2.1WIDE RANGE OF SOY PRODUCTS AT LOWER PRICES TO ATTRACT CUSTOMERS163
TABLE 114SUPERMARKETS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)164
TABLE 115SUPERMARKETS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)164
10.3HYPERMARKETS165
10.3.1AVAILABILITY OF SOYMILK, TOFU, AND SOY CHEESE TO DRIVE DEMAND165
TABLE 116HYPERMARKETS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)165
TABLE 117HYPERMARKETS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)165
10.4CONVENIENCE STORE166
10.4.1READY-TO-EAT MEALS TO SURGE DEMAND FOR CONVENIENCE STORES166
TABLE 118CONVENIENCE STORES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)166
TABLE 119CONVENIENCE STORES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)167
10.5DEPARTMENTAL STORES167
10.5.1AVAILABILITY OF WIDE RANGE OF GOODS IN DEPARTMENTAL STORES167
TABLE 120DEPARTMENTAL STORES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)168
TABLE 121DEPARTMENTAL STORES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)168
10.6SPECIALTY STORES168
10.6.1PREMIUM PRODUCTS IN SPECIALTY STORES TO INCREASE DEMAND FOR SOY-BASED PRODUCTS168
TABLE 122SPECIALTY STORES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)169
TABLE 123SPECIALTY STORES: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)169
10.7ONLINE RETAILERS169
10.7.1CONVENIENCE AND USER-FRIENDLY PLATFORMS TO BECOME VIABLE CHOICE169
TABLE 124ONLINE RETAILERS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)170
TABLE 125ONLINE RETAILERS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)170
10.8OTHER DISTRIBUTION CHANNELS171
TABLE 126OTHER DISTRIBUTION CHANNELS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)171
TABLE 127OTHER DISTRIBUTION CHANNELS: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)171
 
11SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION172
11.1INTRODUCTION173
FIGURE 46SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES174
TABLE 128SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (USD MILLION)174
TABLE 129SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (USD MILLION)175
TABLE 130SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2017–2021 (KILOTONS)175
TABLE 131SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY REGION, 2022–2027 (KILOTONS)175
11.2NORTH AMERICA176
FIGURE 47NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET SNAPSHOT177
TABLE 132NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY COUNTRY, 2017–2021 (USD MILLION)177
TABLE 133NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, 2022–2027 (USD MILLION)178
TABLE 134NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)178
TABLE 135NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)178
TABLE 136NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (KILOTONS)179
TABLE 137NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (KILOTONS)179
TABLE 138NORTH AMERICA: SOYBEAN FOOD PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)179
TABLE 139NORTH AMERICA: SOYBEAN FOOD PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)179
TABLE 140NORTH AMERICA: FERMENTED SOYBEAN FOOD PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)180
TABLE 141NORTH AMERICA: FERMENTED SOYBEAN FOOD PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)180
TABLE 142NORTH AMERICA: NON-FERMENTED SOYBEAN FOOD PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)181
TABLE 143NORTH AMERICA: NON-FERMENTED SOYBEAN FOOD PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)181
TABLE 144NORTH AMERICA: SOYBEAN ADDITIVES/INGREDIENTS MARKET, BY TYPE, 2017–2021 (USD MILLION)181
TABLE 145NORTH AMERICA: SOYBEAN ADDITIVES/INGREDIENTS MARKET, BY TYPE, 2022–2027 (USD MILLION)182
TABLE 146NORTH AMERICA: SOYBEAN OIL MARKET, BY TYPE, 2017–2021 (USD MILLION)182
TABLE 147NORTH AMERICA: SOYBEAN OIL MARKET, BY TYPE, 2022–2027 (USD MILLION)182
TABLE 148NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY APPLICATION, 2017–2021 (USD MILLION)183
TABLE 149NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY APPLICATION, 2022–2027 (USD MILLION)183
TABLE 150NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2017–2021 (USD MILLION)184
TABLE 151NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, 2022–2027 (USD MILLION)184
TABLE 152NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY SOURCE, 2017–2021 (USD MILLION)184
TABLE 153NORTH AMERICA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY SOURCE, 2022–2027 (USD MILLION)185
11.2.1NORTH AMERICA: RECESSION IMPACT ANALYSIS185
FIGURE 48NORTH AMERICA: INFLATION RATES, BY KEY COUNTRY, 2018-2021186
FIGURE 49NORTH AMERICA: RECESSION IMPACT ANALYSIS186
11.2.2US187
11.2.2.1Rising inclination toward fiber-rich diet to augment demand for soy-based flour187
TABLE 154US: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)187
TABLE 155US: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)188
11.2.3CANADA188
11.2.3.1Canada exports most of its soybean to cater to needs of consumers globally188
TABLE 156CANADA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)189
TABLE 157CANADA: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)189
11.2.4MEXICO189
11.2.4.1Rising demand for soybean meal in animal feed industry to spur market demand189
TABLE 158MEXICO: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2017–2021 (USD MILLION)190
TABLE 159MEXICO: SOYBEAN FOOD & BEVERAGE PRODUCTS MARKET, BY TYPE, 2022–2027 (USD MILLION)190