Overview of the soy market in the US
Technavios research analyst predicts the soy market in the US to reach a market value of around USD 17 billion by the end of 2019. The efficient production and bulk transportation of soybeans are the primary drivers of the growth of this market. Moreover, soy is one of the most economically produced grain in the US. Soy protein ingredient is one of the most efficient protein ingredient catering to a variety of food products such as meat, cereals and baked goods.
The rising trend of a fiber rich diet in the US is also expected to contribute to the market growth. The rise in obesity has led to a shift towards healthy snacks in the region. Soy products are a cost effective protein and act as a perfect substitute. Vendors in the market have started developing healthy soy based products. According to a survey by the US Soybean Board, around 75% of the consumers perceive soy food as healthy.
Segmentation by product and analysis of the soy market in the US
Whole soy food
Technavios analysts expect the soy oil segment to dominate the soy market in the US and reach a market value of USD 8 billion by the end of 2019. The rising demand is attributed to the increased use of soybean oil as a vegetable oil. The nutritional benefits of this oil are also one of the main factors for the increasing popularity. It is low in saturated fat and is a primary source of omega three fatty acids and Vitamin E.
Competitive landscape and key vendors
The soy market in the US is highly concentrated due to the presence of leading vendors operating in the US market. With the rising competition, manufacturers are developing new protein products to meet the increasing demand for tastier and healthier protein food among the customers. The market is expected to witness intense competition during the forecast period, with several product launches, price wars, mergers and acquisition to be drivers for many key companies.
The leading vendors in the market are -
Archer Daniels Midland
Other prominent vendors in the market include Blue Diamond Growers, Chilliman, Dean Foods, Eden Foods, EL Burrito, Harvest Innovations, Living Harvest, Panos Brands, Pinnacle, Stremicks Heritage Foods, Scoular, and Tofurky.
Key questions answered in the report include
What will the market size and the growth rate be in 2019
What are the key factors driving the soy market in the US
What are the key market trends impacting the growth of the soy market in the US
What are the challenges to market growth
Who are the key vendors in this market space
What are the market opportunities and threats faced by the vendors in the soy market in the US
What are the key outcomes of the five forces analysis of the soy market in the US
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