3 Key Insights on US$ 55 Bn Opportunity in the Global Soy-Based Food Market REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Driven by the increasing popularity of lactose-free products among individuals and consumers shifting preferences toward a vegan diet, the Global Soy-Based Food Market is forecasted to Cross US$ 55 Bn by 2028 says Ken Research Study. Soy-based food products are those made of soybeans. It mainly contains two essential fatty acids, including polyunsaturated and monounsaturated which have the potential to lower detrimental cholesterol levels. Furthermore, soy foods can also help reduce the risk of a variety of health issues, such as cardiovascular disease, stroke, Coronary Heart Disease (CHD), and some cancers, as well as improve bone health. Additionally, the consumption of soy and soy foods is advantageous for peri-menopausal and postmenopausal women, with fewer and less severe hot flashes and other menopausal symptoms. “Ken Research shares 3 key insights on this high opportunity market from its latest research study” 1. Soy-Based Food Market has Seen Significant Demand for Plant-Based Food Products after a Surge in Consumer Interest in Healthy Food Products in 2020. The Global Soy-Based Food Market is expected to witness stable growth during the forecast period, owing to individuals’ shifting purchasing preferences of plant-based food products, particularly those affected by the coronavirus. The global soy-based food market was valued at ~US$ 20 billion in 2017, it is estimated to be ~US$ 30 billion in 2022 and is expected to reach a market size of ~US$ 55 billion by 2028 growing with a CAGR of ~10%. The Asia Pacific is the dominating region in the Global Soy-Based Food Market, owing to the increased demand for nutrient-rich foods that are healthy and minimize the risk of allergen disorders in both young and old individuals. 2. The Increasing Prevalence of Lactose Intolerance is Major Growth Driver for the Global Soy-Based Food Market. The rising health awareness among consumers, notably those who are unable to digest lactose, has resulted in an increase in the consumption of lactose-free products, including soy as they typically help in the absorption of calcium which benefits in building and repairing muscle tissue/cells. For instance, in 2022, according to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), a part of the U.S. Department of Health and Human Services, lactose intolerance is most common in Asian countries, particularly East Asia, where 70-100% of the population is lactose intolerant; it is least common in Northern and Central Europe, where nearly 5% of the population is lactose intolerant. Additionally, in October 2021, according to Atura Proteins, a UK-based food manufacturer, 56% of food and drink manufacturers are likely to make investments in plant-based food products in 2022. 3. Lack of Individuals Awareness regarding Plant-Based Food Products and Limited Availability of Raw Materials are the Challenges Faced by the Soy-Based Food Market The lack of nutritional awareness is likely to be a concern for those who eat a healthy balanced diet and do not depend solely on conventional food as an important protein source. The continued purchase of conventional food products, such as dairy products by consumers indicates that the portfolio of plant-based food, including soy, has yet to capture the potential customer base. Furthermore, soaring deforestation in numerous countries, including USA is causing a shortage of raw materials for dairy alternatives, such as soy, almond, and rice. The increasing land development among countries is diminishing forest and agricultural land accessibility, resulting in a scarcity of raw materials and limiting the production of plant-based food. For instance, in 2020, according to American Farmland Trust, a non-profit organization headquartered in the USA, nearly 11 million acres of farmland in the United States had been converted, fragmented, or redeveloped as a result of development projects in the last 20 years. 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