Global health index is on a decline, and one of the several health related issues is protein malnutrition which has expanded to a global scale. People are now looking for an alternative protein supplement than the conventional meat, especially with the rising trends of vegetarianism and veganism. Soybean is considered to be a rich source of isoflavone, which has numerous health benefits. New studies over the last few years have come up with amazing discoveries regarding this component, such as it aids with sleep, and show bone health benefits for older women.
Currently, Brazil, China, and the U.S. lead the world in the production of soybean, with the U.S. being the largest producer. The country holds 50% share of the total soybean produced worldwide and holds over 50% of the total soybean area globally. Isoflavones, the key component in soybean, is a phytoestrogen, a substitute for estrogen content in the human body, which provides several health benefits such as blocking the estrogen receptors and acting as an anti-estrogen. Among its key sources, viz. soybean, chick pea, and other legumes, soybean has the highest concentration. The most important type found in soybeans are genistein and daidzein.
The increase in the health conscious population has certainly fuelled the market towards growth. The end-user industry for this market has expanded and the demand for isoflavone from the industry has increased. These factors are driving the growth of the market, along with the rise in the demand for nutraceutical supplements. Despite the rising popularity of soybeans, the global market faces challenges in the form of lack of awareness among the populace and the high cost of soy in the market.
The global market is expected to reach $21.90 billion by 2021, growing at a CAGR of 13.7% from 2017 to 2021. The end-user industries, such as cosmetic, nutraceuticals and food and beverage, have experienced a rise in the demand for isoflavones, which is driving the future growth of the market. In the last few years, the growth of the market gained pace due to the rising adoption of soy based products and economic development on a large scale. Various products which have become popular in the consumer market are soy milk, whole soybeans, soy flour, tofu, soy nuts and soy nut butter.
This market holds a prominent share in various countries such as the US, Germany, and China. North America leads the global market in 2016 and is expected to show a robust growth in the future as well. The growth in this region can be attributed to the increasing demand for quality food, the imbalance in the ecology, developing markets in the emerging economies, ecological and health concerns of plants, animals and individuals.
BIS Research has conducted an extensive market research on Global Isoflavones Market, Analysis & Forecast (2017-2021)‘. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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