Soy Food Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Soy Food Market is projected to expand from USD 52.38 Billion in 2025 to USD 73.92 Billion by 2031, registering a CAGR of 5.91%. This market encompasses a wide variety of consumable goods, ranging from whole soy products like edamame, tofu, and tempeh to processed items such as yogurt, soy milk, and textured vegetable protein. Growth is primarily propelled by the escalating global appetite for plant-based proteins, driven by health-focused individuals searching for nutrient-rich, low-cholesterol substitutes for animal-derived foods. Additionally, the shift towards ethical consumption and environmental sustainability is boosting the uptake of soy ingredients, which are favored for their lower carbon footprint relative to traditional dairy and meat sources.

According to the United Soybean Board, verified shipments under the Soy Sustainability Assurance Protocol hit a record 71 percent of total exports in 2024, indicating a major industry shift towards satisfying the demand for responsibly sourced materials. However, the market faces a substantial obstacle in the form of climate-induced agricultural volatility, which threatens to hinder future growth. Erratic weather events, particularly severe droughts in key growing areas like the United States and Brazil, jeopardize crop quality and yields, creating risks of supply chain instability and rising production costs for manufacturers.

Market Drivers

The Global Soy Food Market is being fundamentally transformed by the rising adoption of flexitarian, vegan, and plant-based diets, as consumers place greater emphasis on sustainability and health. This change in dietary habits is fueling significant demand for soy-based meat and dairy alternatives, which provide a complete protein profile similar to animal products. In response, manufacturers are broadening their offerings of nutrient-rich foods, effectively moving soy products from niche supplements to essential grocery items. According to The Good Food Institute's '2024 State of Alternative Proteins' report released in April 2025, global retail sales for plant-based categories including meat, milk, and cheese grew by five percent to total $28.6 billion in 2024, underscoring the enduring shift toward plant-derived nutrition with soy as a key component.

Simultaneously, the escalating requirement for environmentally ethical and sustainable food sources is pushing manufacturers to reduce carbon footprints and enhance supply chain transparency. As the environmental impact of soy production faces closer inspection, there is an increase in certified sustainable exports to satisfy regulatory standards and ethical demands. Soy Canada reported in its 'At a Glance' update in May 2025 that Canadian soybean exports were valued at CDN $3.6 billion in 2024, highlighting strong global demand for responsibly sourced raw materials. This trend is further evidenced by Kikkoman Corporation, which announced in February 2025 an 8.2 percent revenue growth for the nine months ending December 2024, attributed to the robust performance of its global food products division.

Market Challenges

Climate-driven agricultural instability represents a significant obstacle to the consistent growth of the Global Soy Food Market. Unpredictable weather phenomena, specifically persistent droughts in major cultivation regions such as the United States and Brazil, interfere with the reliable supply of the high-quality raw materials needed for production. When crop yields are reduced by extreme heat or inadequate rainfall, global supplies tighten, inevitably causing input costs to rise for soy food producers. This volatility creates uncertainty regarding profit margins and complicates long-term procurement planning, making it challenging for companies to expand operations in line with increasing consumer needs.

The gravity of this environmental challenge is highlighted by recent industry data concerning production volumes. The Brazilian Association of Vegetable Oil Industries (Abiove) indicated in updated 2025 figures that the previous harvest cycle was restricted to 154.3 million tons, a total heavily impacted by unfavorable weather in key agricultural areas. Such supply chain fluctuations not only jeopardize the quantity of available soybeans but also threaten the protein quality necessary for high-end soy derivatives, thereby directly restricting the market's potential for overall expansion.

Market Trends

The rise of convenient soy-based snacking options is accelerating as consumers increasingly look for nutritious, grab-and-go items that accommodate active lifestyles. This trend is defined by the launch of portable snacks and ready-to-drink flavored soy milks that facilitate on-the-move consumption while providing functional advantages such as high protein or low sugar content. Manufacturers are leveraging this demand by updating packaging and flavor profiles to make products more accessible to modern consumers. For instance, Vitasoy International Holdings reported in its June 2025 'Annual Results FY2024/2025' that profit attributable to equity shareholders surged by 102 percent, a result largely driven by the successful market introduction of new portable items like low-sugar peach soy milk.

At the same time, the growth of non-GMO and clean-label product lines is emerging as a crucial factor for brands seeking to establish trust with ethically conscious shoppers. This shift necessitates strict supply chain verification to guarantee that ingredients are free from genetically modified organisms and sourced sustainably, responding to intensifying scrutiny regarding food production's environmental footprint. Companies are focusing on sourcing transparency to adhere to these higher standards and achieve premium market status. According to the '2025 Asia Soy Food Report' by the U.S. Soybean Export Council in April 2025, Vietnam imported 93 percent of its soybeans for domestic manufacturing in 2023, illustrating the region's heavy dependence on verified, high-quality raw materials to meet the strict requirements of sustainability-focused and health-conscious markets.

Key Players Profiled in the Soy Food Market

• Danone S.A.
• Wicked Foods, Inc.
• Monde Nissin Corporation
• Nestle S.A.
• Conagra Brands, Inc.
• Impossible Foods Inc.
• Vitasoy International Holdings Limited
• The Hain Celestial Group, Inc.
• Unilever PLC
• Amy's Kitchen, Inc.

Report Scope

In this report, the Global Soy Food Market has been segmented into the following categories:

Soy Food Market, by Product Type:

• Meat Substitutes
• Non-dairy Ice Cream
• Non-dairy Cheese
• Non-dairy Yogurt
• Non-dairy Spread

Soy Food Market, by Sales Channel:

• Supermarkets/Hypermarkets
• Departmental Stores
• Online
• Others

Soy Food Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Soy Food Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.