Future Market Insights projects that the Soy Nuts market will grow at a compound annual growth rate (CAGR) of 4.2% during the forecast period, increasing in value from USD 1,500.4 million in 2023 to USD 2,264.0 million by 2033. As of the end of 2022, the market was valued at USD 1,456.7 million.
These nuts have a flavor and texture comparable to peanuts. Even after roasting, soybeans retain most of their original nutrients. Although soy nuts resemble peanuts in taste and texture, they offer higher protein content and lower fat. Much like peanuts are used to make peanut butter, soy nuts are used to create a healthier alternative: soy nut butter, which maintains a similarly delicious taste.
Soy nuts come in a variety of flavors, such as salted and paprika, making them popular in the market. However, the added seasonings and flavorings result in high salt content. Excessive sodium intake can lead to increased blood pressure, which poses a challenge for the soy nuts market. Additionally, due to their high fat and calorie content, a small serving of soy nuts can provide a significant portion of daily energy needs.
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Market for Soy Nuts: Drivers and Restraints
Soy beans are legumes that are among the rare flora proteins that have all the Amino Acids that are necessary in a human body. Some amount of nutrients like Amino Acids, otherwise found in poultry, meat and fish, are retained by Soy Nuts as they are simply roasted whole soy beans.
This is a major factor drive the growth Soy Nut Market among the vegetarian population. Soy nuts do not contain cholesterol. They help in raising HDL cholesterol and lower the LDL cholesterol content, thus making them a heart healthy snack. Products made from Soy beans are great sources of Isoflavones.
Isoflavones are compounds that are similar to Estrogen. Also, these nuts help in mitigating cognitive decline, decrease bone desorption and enhance bone formation which, in turn, prevents Osteoporosis. According to recent studies, Soy might act as a safeguard against breast cancer in women when consumed while growing up. It is also high in fiber content.
Soy nuts may lead to gastric and intestinal distress causing stomachache, nausea, changes in stool density and bloating. Soy based products might cause enlargement of the thyroid gland in some people having Iodine Deficiency. Due to all the Isoflavones in Soy Nuts, excessive consumption might cause hormonal imbalance.
Competitive Landscape
Competition in this sector has intensified with the entry of new players and existing ones introducing innovative products to cater to customer demands. This trend suggests a promising growth opportunity within the industry, as companies strive to expand their market share through product differentiation and innovation. Moreover, heightened consolidation among major players has enhanced operational efficiencies in production, enabling cost reductions that can benefit consumers.
Key Companies Profiled
Life Health Foods India Pvt. Ltd.; Tate and Lyle; Bergin Nut Company; Agro Fresh; Alpro; Diamond Foods, Inc.; Archer Daniels Midland Co.; Syngenta AG; Richardson International; Sincerely Nuts
Report Coverage
Company Share Analysis, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives, Market Forecast, Competitive Landscape
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Soy Nuts Market by Category
By Product Type, Soy Nuts Market is segmented as:
- Deep Fried Soy Nuts
- Dry Roasted Soy Nuts
By Ingredients, Soy Nuts Market is segmented as:
- Flavoured
- Paprika
- Salted
- Plain
- Chocolate covered
- Yogurt covered
- Others
By Sales Channel, Soy Nuts Market is segmented as:
- Convenient Stores
- Other Retail
- E-commerce
By Region, Soy Nuts Market is segmented as:
- North America
- Latin America
- Europe
- Asia Pacific
- Oceania
- MEA
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