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Global Soy & Soy Products
Market Drivers, Products, Trends
and Innovation
Presented by
Peter Golbitz
Director of International Business Development
SunOpta Grains and Foods Group
Minnesota, USA
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Production Disposition
Food Use
Soybeans for Food
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Soya 21st Century Food Platform
Soybeans are an extremely versatilefood source and are the base of a newfood platform for the 21stCentury
Soybeans can be used as a primary
component in virtually ever majorfood category including:
Meat and meat alternatives
Dairy and dairy alternatives
Fresh vegetables
Dried beans and grain
Cooking oils and fats
Flour-based products
Fermented foods and pastes
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Abundant & Growing Food Source
Soybeans are widely grownand available worldwide ata reasonable cost
Total production for
2010/11 should reach over250 million metric tons
Production has grown at anaverage rate of 3.5 percentannually for the past 10
years
Soybeans are the largestprotein and oilseed crop inthe world today
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Where Soybeans are Grown
World soybean productionis heavily concentrated inNorth and South Americawith the U.S. being the
largest producer, followedby Brazil and Argentina
The top 7 producingcountries account for 95%of world production
Production is expected tocontinue to grow in SouthAmerica due to availableland and water resources
World Soybean Production by Major
Producing Nations, 2010/11 Projection
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World Soybean Use
On average, the worlds
soybean crop is used asfollows:
87% is crushed into
soybean meal for animalfeed, proteins andvegetable oil
7% is used directly asanimal feed, seed or other
6% is used for directhuman food (some portionof above also likely used asfood through direct farmsales)
Use of World Soy
Production(average of 2005 2010)
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World Soybean Use for Food
The world will use about 15million metric tons ofsoybeans as direct food in2010/11
Use growing by 2% per yearfor the past five years
These beans are eithercommodity soybeans thathave been cleaned to ahigher standard or IdentityPreserved soybeans grownspecifically for food use
Use of soybeans for crush isgrowing more quickly, atabout 2.5% per year
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Leading Countries for Food Use
Asian countries lead the worldin direct food use of soybeansaccounting for over 95% ofestimated use in 2010/11
China is by far the worldslargest consumer of soybeansfor food major uses includesoymilk, tofu and fermentedfoods
Indonesia, with heavy use ofsoybeans for tempeh, is #2
Japan follows with heavy usefor tofu, fermented foods andsoymilk
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Market Drivers
Products
Trends
Innovation
World Soyfoods Market
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Soybeans: An Important Functional Food
Nutritionally dense Only plant food that is a complete protein
Provides all 8 essential amino acids
Contains healthy fats and dietary fiber
Vitamins and minerals Cholesterol-free, low in saturated fats
Heart Healthy FDA: 25 grams of soy protein per day may
reduce risk of heart disease
Functional Food Ingredient Can be used as a functional ingredient in
food systems and for human health
Applications in dairy and meat alternatives,baking, snack foods, cereals and more
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Soyfood Market Drivers
Market forces such as healthconcerns, need to reduce cost infood processing and functionalitydrive the demand for soybeans and
soy protein.
In addition, soy proteins areconsidered to be an essentialingredient in many processed
meats, increasing both the qualityand weight of the product.
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Soyfood Market Drivers
Low Cost:
Soybeans and soy proteins, by virtue of theirbeing lower in the value chain, will likely be lessexpensive than animal-based ingredients
Functionality: Extremely versatile and functional, soy proteins
can easily be formulated into many existing foodproducts as a nutritional enhancement or low-cost extension
Soy proteins can also be used to replace wholesoybeans in many traditional soyfoods such assoymilk, tofu and meat alternatives
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Soyfood Market Drivers
Health Benefits:
In 1999, the U.S. FDA approved a soy proteinhealth claim allowed foods containing 6.25grams of soy protein per serving to state that
they are heart healthy foods
Other benefits being researched includecancer prevention, bone health, kidneyhealth and weight management due to thesatiety of proteins
Hundreds of research papers have beenwritten touting the benefits of addingsoyfoods and soy protein to the diet
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Sustainability
Soybeans are the worlds most efficient,
abundant and low cost source of protein
They can be grown world wide - they
enrich the soil by fixing needed nitrogenand reduce chemical fertilizer inputs forother crops, such as corn
As the world looks to use resourcesmore efficiently, we will come to rely
more heavily upon plant proteins toprovide an ever-increasing portion ofthe human diet if everyone is to be fed
Soyfood Market Drivers
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World Soyfood Sales
The estimated value of allsoyfoods sold in the worldtoday is between $15 and $20billion and growing at between2 and 5% per year, with
soymilk accounting for aboutone third of the markets value(SunOpta est.)
Based on data fromMintel,Asia-Pacific region is showingthe greatest growth in soy
products along with LatinAmerica, while the U.S. is indecline, Europe shows slowgrowth and the Middle East &Africa has yet to emerge
Soyfood Product Launches, 2005 - 2009
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Soyfoods in the U.S.
U.S. food marketers havebecome creative with soyand found ways to use it inmany familiar food
products, creating newhealthier snacks, drinks,dairy alternatives, foodsand beverages
In 2009, total sales of all
soy-based foods in the U.S.totaled over $4.0 billion atthe retail level
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Soymilk in the U.S.
In 2009, there were over 600 soymilkproducts in the U.S. market, not includingprivate label products, with total retailsales of over $1.1 Billion
Vanilla and plain were the leading flavors,followed by chocolate
Two-liter carton was the leading package
75% of soymilk products are made withorganic soybeans
For the fourth year running, private labelproducts were the fastest growing brand(29%+ in 2008) indicating a growingpreference for generic vs. leading brandproducts
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Other soymilk-based foods in the U.S.
Soymilk, in powdered andliquid form is alsoprocessed into other dairyalternatives such as:
Yogurts Drinkable yogurts
Frozen desserts
Puddings
Coffee creamers Cheese products
And of course, tofu!
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Soyfoods in Europe
The market for soyfoods inEurope is dominated by meatand dairy alternatives andvaries considerably from
country to country based onregional taste preferences
Soymilk products sales areover 600 million according toa recent report from ProSoy
Recent trends include a rapidgrowth in soy yogurts andfunctional soymilk products
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Soyfoods in Europe
The market in Europe isdriven by:
Rapid growth in private labelstore brands
Demand for organic products
Vegetarianism or meat-free aspart of a mainstream diet
Overall health concerns
Concern about consumption of
animal products (mad-cow)
New convenient offerings in R-T-E meals
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Soyfoods in Asia
The market for soyfoods in Asia is filledwith traditionalfoods such as:
Tofu
Miso
Soy Sauce
Tempeh
Edamame
Soy Sprouts
Yuba
Natto
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Soymilk in Asia
Soymilk sales in Asias packaged
food market was estimated atnearly $1 billion in 2007 and isgrowing at over 10% per year,according to AC Neilsen
In addition to plain andsweetened products, manytraditional flavors are availableincluding Black Sesame, BrownSugar, Corn and Vegetable flavor
In China, half of the leadingproducts on the market are inpowdered form and mostcontain dairy ingredients
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Soymilk in Asia
Soymilk packaging includesfresh, aseptic and retortbottles that can be soldalongside of other soft
drinks, broadening theappeal and reach of theseproducts
For many Asians, thetraditional beany flavored
soymilk is preferred, and it isusually lighter in protein andhigher in sugar content thana milk alternative product
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Soymilk in Asia
New soymilk productintroductions in theAsia/Pacific area have beengrowing rapidly, with Chinashowing the greatest
number of products,followed by Japan, HongKong and others
With the exception of China,where there are manypowdered products beingintroduced, the vastmajority of these productsare in liquid form and ineither glass or plasticbottles, or Tetra Pak cartons
Soymilk Introductions Asia/Pacific Region,2005 2009
Source: Mintel GNPD
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Soymilk in Southeast Asia
According to The South-East Asian Marketfor Non-Dairy Drinks(2007, Organic Monitor)
Growth in the region is projected at 8.4% peryear through 2013 to reach 735 million literswith a value of $600 million
Per capita consumption was 1.2 liters peryear and increasing
The market is heavily concentrated inThailand, Malaysia and Singapore, withIndonesia and the Philippines having lowconsumption due to high prices and lack ofdomestic production
The leading companies in the region are: Green Spot Lactasoy YeoHiapSeng Ace Canning Dutch Mill
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Soyfoods in India
Textured soy protein, soymilk andtofu are available in India, withsoymilk sales growing rapidly
According to the AmericanSoybean Association, there were
approximately 32.5 million litersof soymilk produced in India in2008, up from 400 thousand litersin 2000
Given the overall population,
expansion of the hypermarkettrade, growth of the middle classand large vegetarian community,there appears to be abundantopportunity for growth
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Soyfoods in Latin America
Throughout Latin America,including Mexico andCentral and South America,sales of soyfoods are
growing quickly Textured soy protein meat
alternatives, soymilkproducts, energy bars andcereal mixes are appealing
to consumers looking forhealthier, low fat and highprotein foods
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Soymilk in Latin America
Across Latin America,soymilk comes in avariety of forms andflavors including
regular soymilk,soy/juice blends,soy/cow milk blends,powdered products andcanned evaporated
soymilk Lactose intolerance is a
big factor in marketdevelopment, as is cost
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Soyfoods in Africa
Throughout Africasoyfoods find theirway to consumersthrough both
consumer productsand governmentprograms
Popular foods include
textured soy protein,soy/maize cerealblends and soymilk
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Soymilk in South Africa
While still in an emergingmarket phase, soymilk productsare becoming more popular inSouth Africa with domestic and
imported products available The most popular package now
is the aseptic Tetra Pak, with nofresh or chilled product
available
Private label soymilks areshowing up in supermarkets,indicating some level of massmarket appeal
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In conclusion..
Soy-based foods are growing inpopularity worldwide and willcontinue to play an ever-increasingrole in the feeding of our planet
The soybeans high nutritive value,low cost and versatility allow it to beused in wide range of foods andpreparations
Whether it be a traditional or modern
soyfood product, sold on the streetcorner or packaged and sold in asupermarket, many people willconsume more soybeans in their dietfor years to come
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For more information, please contact:
Peter Golbitz, Director of International Business Development at
peter.golbitz@sunopta.com
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