Market Introduction:
Soy granules are tiny pellets which are constituted by soybeans. They serve as a perfect natural source of protein for vegetarians and as a healthy meat substitute for others. Soy granules are many a times interchangeably used as soy chunks but actually both of them have one difference, that is, the difference in their size, soy granules are finer in size as compared to soy chunks. Soy granules are obtained from soybeans, as a byproduct in soy oil preparation. After extracting the soy oil, soy flour is left as a byproduct which in-turn is defatted and used to generate soy granules and soy chunks. Soy chunks and soy granules are different types of texturized vegetable protein (TVP).
Market Drivers and Trends:
Since the soy granules serves as a protein source for consumers, similar to meat but are cheaper than meat, due to this it serves as an adequate meat alternative, more specifically in a vegan diet. The various similar products faces the problem of proper storage but this issue is cured in case of soy granules, as dehydrated soy granules can be easily stored for about 12 months. The soy granules have numerous household uses in preparation of food and beverages in various regions. Soy granules are enriched with various minerals, vitamins, lecithin, isoflavones, and is quite beneficial in lowering cholesterol, and prevention of loss of bone mass and cancer. Medical practitioners suggests soy for expectant mothers, cardiac patients, diabetic patients, aged personalities, with an aim to improve their condition. Soy granules turns out to be a considerable non-fish source of omega-3 fatty acids which increases its property of reduction in coronary heart disease. All these benefits being provided by the soy granules turns out to be the driving factor of global .
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Market Segmentation:
The soy granules market is segmented on the basis of nature, packaging, and distribution channel. On the basis of nature type, the global soy granules market can be segmented into organic soy granules, and conventional soy granules. On the basis of packaging, the soy granules market is segmented into carton packaging, cans and pouches. The mode of packaging chosen depends on the region in which the product is offered. On the basis of the distribution channel, the soy granules market is segmented into direct and indirect sales. The indirect sales segment can be further segmented into store-based retailing and online retailing. Store-based retailing can be further classified into modern grocery retailers and traditional grocery retailers. Modern grocery retailers can be further sub-segmented into a convenience store, mom and pop stores, discount stores, and hypermarkets or supermarkets. The traditional grocery retailers can be further sub-segmented into food & drink specialty stores, independent small groceries, and others. The soy granules are easily available in local markets, which provides an ease to consumers to use the benefits offered by the product.
Market Regional Outlook:
The regional segment for the market of vegan mayonnaise is divided into seven different regions: Western Europe, North America, Eastern Europe, Latin America, APEJ, Middle East & Africa and Japan. North America and Europe are anticipated to provide a significant share in global soy granules market attributable to increasing awareness regarding health benefits of soy as an important part of their meal. Since soy granules are rich in protein content and so vegetarian consumers opt for it.
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Market Key Players:
The key player in the soy granules market only includes Ruchi Soya Industries Ltd., NOW Health Group, Inc., Davert GmbH, Sita Shree Food Products Ltd, Mahakali Foods Pvt.Ltd., MDH Spices and others.
