The soy market in the U.S. is highly concentrated due to the presence of leading vendors operating in the American 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 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 grains in the U.S. 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 fiber-rich diets in the U.S. 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 U.S. Soybean Board, around 75 percent of the consumers perceive soy food as healthy.
Source: Research and Markets
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