Soybean Food and Beverage Products Market Report 2026

The soybean food and beverage products market size has grown strongly in recent years. It will grow from $58.38 billion in 2025 to $61.71 billion in 2026 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to growth in vegetarian and vegan diets, rising awareness of soy health benefits, expansion of food processing applications, increased use of soy protein ingredients, growing acceptance of plant-based diets.

The soybean food and beverage products market size is expected to see strong growth in the next few years. It will grow to $79.88 billion in 2030 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing demand for sustainable protein sources, rising innovation in soy-based food formulations, expansion of functional and fortified food categories, growing online retail penetration for soy products, increasing focus on allergen-aware food development. Major trends in the forecast period include increasing demand for plant-based protein alternatives, rising adoption of non-gm soy products, growing use of soy ingredients in functional foods, expansion of soy-based dairy and meat alternatives, enhanced focus on clean-label soy products.

The rising popularity of ready-to-drink (RTD) beverages is expected to boost the growth of the soybean food and beverage products market going forward. Ready-to-drink beverages are packaged for immediate consumption, offering high convenience for on-the-go lifestyles. Soy-based RTD products, such as soy milk and soy-based smoothies, align well with this trend by providing portable, plant-based, and nutritious beverage options. For instance, in November 2023, according to the International Wine and Spirits Record (IWSR), a UK-based beverage alcohol data specialist, 45% of consumers reported consuming RTD beverages weekly in 2023, up from 38% in 2022. Therefore, the growing popularity of RTD beverages is driving the growth of the soybean food and beverage products market.

Major companies in the soybean food and beverage products market are prioritizing technological advancements, such as the soya drink processing method, to maintain their market position. This method focuses on a comprehensive approach to utilizing the entire soybean in the production of soy drinks. For example, in February 2023, Tetra Pak, a Switzerland-based food packaging and processing company, unveiled the revolutionary 'Whole Soya' technology for soya drink production. This innovative method utilizes the entire soybean, resulting in a soy drink with 1.2% fiber, a substantial increase compared to traditional soybean drinks. Tetra Pak's technology not only reduces waste but also enhances the beverage's nutritional profile by incorporating the soybean's fiber component, okara. Through experimentation with different grinding solutions, Tetra Pak successfully integrated okara particles into the final product, creating a versatile, high-fiber beverage.

In February 2023, Morinaga Nutritional Foods, a Japan-based tofu manufacturer, acquired Tofurky for an undisclosed amount. This strategic acquisition strengthens Morinaga's efficiency and production capabilities by integrating Tofurky's staff with Morinaga's operations. Tofurky, a US-based manufacturer of soy-based food and plant-based meats, aligns with Morinaga's focus on soy-based products.

Major companies operating in the soybean food and beverage products market are Cargill Incorporated, The Archer-Daniels-Midland Company, Nestlé S.A., Wilmar International Limited, CHS Inc., Danone S.A., Conagra Brands Inc., Kerry Group Plc, Caramuru Alimentos S.A., Kikkoman Group, The WhiteWave Foods Company, Patanjali Foods Limited, Hain Celestial Group, Monde Nissin Corporation, Vitasoy International, SunOpta Inc., Alpro, Impossible Foods Inc., Pacific Foods of Oregon LLC, Eden Foods Inc., Sotexpro, Good Catch Foods, Burcon NutraScience Corporation, Rio Pardo Potential Vegetal S.A., Northern Soy, Solbar Ltd., Galaxy Nutritional Foods Inc.

North America was the largest region in the soybean food and beverages products market in 2025. The regions covered in the soybean food and beverage products market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the soybean food and beverage products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The soybean food and beverage products market consists of sales of soy milk, tempeh, soy sauce, soy-based meat and soy flour. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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