Organic soy products are manufactured by processing organic soybean that is soybean that is non-GMO in nature. The production of organic soy products may differ from product to product, depending on the type. Soy products have their origins based in the Southeast Asian countries and are consumed as a traditional staple. However, the same products have been adapted as meat alternatives in the present period in the developed regions. Due to their demand, the segment for organic soy products has grown rapidly in countries like North America and Western Europe. Some popular examples of organic soy products are tofu and tempeh.
Organic and Meatless Tag Attracts Consumers towards Organic Soy Products
Consumer awareness regarding meat substitute products especially organic soy products is expected to increase at an exponential rate over the forecast period. Sustainable products and rising sensitivity towards animal cruelty are the major reason for boosting organic soy products’ market growth. Around 16% of the global population is dependent on soy products. Owing to the rise in meatless yet high-protein food, consumers across the globe are increasingly exploring newer varieties in this category, which has led to the emergence of new players in the organic soy products market.
In 2016, the tofu and tempeh market was estimated to be around US$ 190 Mn in the U.S. The rise in the number of vegan, vegetarians, and flexitarians populations is also likely to fuel the growth of the organic soy products market. Organic soy products manufacturers are focusing on developing organic soy products in such a way so that they closely mimic the taste, texture, and savory aspects of the meat itself. High-quality umami flavors are being developed by flavor technologists to make meat alternatives ‘meatier’. In this way, organic soy products will directly compete with the meat market. In the current situation, if organic soy products do not satisfy the requirements for sensory quality, then there is a high chance of losing the sparse consumer base for organic soy products.
Being a summer crop, the production of soybean is dependent on weather conditions. For the past five years, the production of soybean has witnessed a slow growth, sometimes even a decline in some regions, which has led to fluctuating prices of the organic soy products market.