Organic soy products are the products manufactured from by processing organic soy bean that is soy bean which is non-GMO in nature. The production of the organic soy products may differ from product to product, depending on the type. Soy products have their origins based in the South-east Asian countries which are consumed as a traditional staple.
However, the same products have adapted as meat-alternatives in the present period in the developed regions. Due to their demand, the segment for organic soy products has grown rapidly in countries like North America and Western Europe. Some popular examples of organic soy products are tofu and tempeh.
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Organic and Meatless Tag Attracts Consumers towards Organic Soy Products
Consumer awareness regarding meat substitute products especially organic soy products is expected to increase at an exponential rate over the forecast period. Sustainable products and rising sensitivity towards animal cruelty is the major reason boosting the market growth for organic soy products. Around 16% of the global population is dependent on soy products. Owing to the rise in meatless yet high protein food, consumers across the globe are increasingly exploring newer varieties in this category, which has led to the emergence of new players in the organic soy products market.
In 2016, the tofu and tempeh market was estimated to be around US$ 190 Mn in the U.S. The rise in the number of vegan, vegetarians and flexitarians populations is also likely to fuel the growth of the organic soy products market. Organic soy products manufacturers are focusing on developing organic soy products in such a way so that they closely mimic the taste, texture, and savory aspects of the meat itself. High-quality umami flavors are being developed by flavor technologists to make meat alternatives ‘meatier’. In this way, organic soy products will directly compete with the meat market. In the current situation, if organic soy products do not satisfy the requirements for sensory quality, then there is a high chance of losing the sparse consumer base for organic soy products.
Being a summer crop, the production of soybean is dependent on weather conditions. For the past five years, the production of soybean has witnessed a slow growth, sometimes even a decline in some regions, which has led to fluctuating prices of the organic soy products market.
Organic Soy Products Market: Regional Analysis
The region Oceania is expected to register high growth over the forecast period in the organic soy products market. Due to its proximity to Indonesia and a growing number of Indonesian immigrants in Australia, this country has witnessed an upsurge demand for tempeh, which is a key segment in the organic soy products market. Around 10-15 new players offering organic soy products have emerged in the past decade in Oceania. Other major countries exhibiting growth in the organic soy products market are the U.S., U.K., and Netherlands. Germany, Italy, and France have exhibited a fast-growing vegan population, which are likely to favour the growth of the organic soy products market.
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Organic Soy Products Market: Key Participants
Some of the market participants in the organic soy products market are:
- Impossible Foods Inc.
- The Hain Celestial Group, Inc.
- Beyond Meat Inc.
- Pacific Foods of Oregon, Inc.
- Kellogg Company
- Fry Group Foods (Pty) Ltd.
- Nutrisoy Pty Ltd
- Nasoya Foods, Inc.
- VBites Food ltd.
- The Kraft Heinz Company
- Schouten Europe B.V.
- Turtle Island Foods, Inc.
- Lightlife Foods Inc.
- Taifun-Tofu GmbH
The research report presents a comprehensive assessment of the organic soy products market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, category and form.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Organic Soy Products Segmentation
On the basis of product type, the organic soy products market is segmented into-
- Tofu
- Tempeh
- RTC/RTE
- Natto
- Others
On the basis of form, the organic soy products market is segmented into-
- Whole
- Chunks/Blocks
- Crumbles
- Patties/Balls
- Strips/Jerkies
On the basis of category, the organic soy products market is segmented into-
- Fresh
- Frozen
- Refrigerated
On the basis of sales channel, the organic soy products market is segmented into-
- Direct
- Indirect
- Modern Groceries
- Convenience Stores
- Discount Stores
- Food & Drink Specialty Stores
- Traditional Groceries
- Online Retail
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