Agriculture and food industries keep growing and improving. These food trade and production sectors are continually evolving but have specific challenges. There’s an imperative to provide large volumes of quality products to customers while considering delivery and safety.
But what are the sectors in the food industry that are impacting this growth? One of the latest food trends is soy food products. But what portion of the food market is reserved for soy food products, and how do these products fit into the equation?
Food consumption habits are changing more quickly than ever, and different reasons fuel them, including cultural, geographical, technological, etc. So let’s dig a little deeper.
- Market outlook of soy food
The international soy food market had a value of around $45 B in 2022, with a likely future CAGR growth of 5.1%. That means it will likely reach a total value of $73 B in 2032. So it’s safe to say that the market is doing well and will continue to thrive.
The latest data also shows that the demand for soy food products is higher as its highly used in the form of animal protein to serve cattle, growing at around 5.6%. The nutritional value of soy products and ingestible forms pushes the growth forward. Various soy foods are used as substitutes for diets that are full of poultry, beef, and dairy.
The younger generation has adopted soy products and is open to trying them, with twice as many people under 35 consuming a soy drink at least once per week than those over 55. In fact, around 80% of food consumers have tried soy products at least once.
- Health concerns are a significant factor!
The drastic change in consumer preference regarding food is fueled by access to information. People can now quickly learn about the impact of different foods on their health, and many decide to move towards healthier alternatives.
While some are more health-conscious, others simply want to try different things. There are also many vegans and vegetarians who want to give up dairy and meat products for moral reasons.
Soy foods and soybeans allow you to do all of the above, and that’s why these products are growing in popularity. They have been shown to reduce the risk of cardiovascular problems, heart diseases, strokes, and even cancer. When ingested regularly and combined with low-saturated fat foods, soy can also help reduce bad cholesterol.
- The impact of the COVID-19 pandemic
The COVID-19 pandemic changed many industries and everyone’s lives. This global phenomenon has also affected food choices, as people have realized how important it is to develop healthier eating habits and make better choices.
That’s why the natural food and drink market is expanding quickly – the estimated value for 2023 is around $361.3 B. The market is expected to grow from 2022 to 2031 at 11.44% CAGR. Some beverages that are a part of this market include soy milk and various soy milk-based beverages. Some of the brands sell only products with water and organic soybeans.
The pandemic has opened the door for recognizable and simple ingredients within consumer products. Customers are motivated by the health benefits of the products instead of branding or taste.
Overall, customers have moved away from processed foods and are looking for fresh, simple, and organic food products.
- Soy food products fit into the modern contemporary lifestyle!
Soy products are affordable, and there are many shelf-stable products and available ingredients in different stores. All the versatility of soy ingredients allows consumers to create personalized protection, vegan, low-cholesterol, and dairy-free diets.
For example, anyone can easily add textured soy protein to various sources or chili recipes to get more nutritional value. At the same time, people can maintain the texture and flavor of their recipes. People often replace dairy milk with soymilk in various recipes, coffee drinks, and beverages.
Switching to a plant-based diet was a hotly debated issue for a long time because many fruits and vegetables have very low amounts of protein – people had to eat large volumes of plants to get even the minimal daily requirement of protein.
However, the latest soy products have entirely removed this barrier.
Soy proteins also come with all the vital amino acids our bodies need but don’t have any of the saturated fat that animal meat is full of.
Soyfoods are tackling some critical issues regarding modern food demand and production. It’s affordable and straightforward to produce, fits into most global cuisines, and gives healthy alternatives to various dairy and meat products. That’s why soy is the food of today and the food of the future.
After everything you have read in the text above, it is logical to conclude that soy foods are indeed the world’s new normal. This means that in the near future, soy foods will become so widespread that other unhealthy foods that are the norm nowadays will be considered harmful alternatives and not the other way around.