On account of variety of functions served by soybean in global food chain, the demand for soy food products continues to change inadvertently. Soy food products have been meeting the global consumption demands for protein-rich foods, while regional agricultural markets have exhibited diversity with respect to their contribution in global soy food production. An ongoing study, being conducted by Future Market Insights, reveals that North America and Asia-Pacific are among the key regions influencing the undercurrents of global soy food products market. Following events showcase the recent updates on soy food products market in the US, Canada and India.
GMO Cultivation or Exports – Solution for India’s Brimming Soy Food Consumption
A recently held conference of soy food products in New Delhi, India addressed the challenge of increasing production to meet the growing domestic demands. Among the key spokespeople were agricultural policy experts from the US Department of Agriculture, who advised that India’s growing soy food consumption can be conveniently met if the farmers and large-scale soybean producers adopt innovative technologies. A highlight of this conference was boosting the awareness of GMO cultivation in Indian agricultural industry. The meeting discussed that GMO-based soybean cultivation can effectively register a considerable rise in terms of production volumes.
Increasing consumption of soy food products in India can be met through such approach, or agro-industrialists in the country can consider exporting soybean from the global market. In the view of robust agricultural sector in India, the alternative option of exporting soybean is less likely to seep in the minds of companies and government authorities. In the near future, Indian soybean producers may extensively adopt GMO cultivation practices or other innovative solutions for boosting their production against the brimming demands for soy food products.
Common Allergies in US Consumers to Impact Soy Food Product Market
According to a recently published survey, millions of consumers in the US are estimated to be allergic to certain foods. Among the top eight allergens recorded in the survey, soybean has made the list. Soybean is being observed as a food allergen in the US, the presence of which should be listed on labels. Companies offering soy food products will be supervised under this mandate, wherein the exact content of soy in the product will be listed on the labels. Investigations associated with this survey also revealed that several domestic manufacturers of soy food products in the US are not abiding by this prerequisite, which is ultimately aggravating the incidence of food allergies across the country.
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