Rising Health-Conscious Population Stimulating the Global Soy Food Market: TechNavio Report

LONDON - Aug. 18, 2014 - PRLog -- TechNavio, the independent tech-focused global research firm, has published a report on the Global Soy Food Market 2014-2018, which is expected to witness a CAGR of 6.26 percent during the forecast period of 2013-2018.

Soy food products are manufactured from soybean, which is processed to extract various products and by-products. Approximately 80 percent of soybeans are processed into soybean oil and meal, and 95-98 percent of soybean meal is further processed into animal feed; the remainder is processed into soy flours and soy proteins.

With a rise in awareness of the health benefits of soy food, it has gained popularity worldwide, and, currently, it is among the most consumed food products.

Key Market Drivers

·         Aging Population

·         Treated as Meat Substitutes

·         Versatility of Soy

·         Associated Health Benefits

Key Market Trends

·         Rising Awareness of Vegan Diet

·         Growing Demand for Soy Food Worldwide

·         Increase in New Product Launches

“Currently, consumers prefer healthier substitutes to meat, dairy, and other conventional protein sources. Soy food has given them a wide portfolio of food products, meeting almost all nutritional health needs,” says Faisal Ghaus, Vice President of TechNavio.

To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.