Global Okara Market, By Usage (Bread, Steamed Bread, Noodles, Others), Nutritional Sources (Protein, Fat, Calcium, Minerals Dietary Fiber), By-Product (Tofu, Soy Milk), Application (Hotels, Restaurants and Catering, Food Processing, Household Others), Distribution Channel (Store-Based, Non-Store-Based) – Industry Trends and Forecast to 2030.
Okara Market Analysis and Size
Increasing consumer awareness and demand of the health benefits associated with soy-based foods have contributed to the expansion of okara in the functional food market. Recent studies have not only highlighted the bio-transformation of soy foods but also recorded the increasing commercial interest in soy by-products such as okara. The advent of advanced biotechnological interventions provides important opportunities for the bio-valorization of okara. As a result all these factors, the demand for the okara increases which will enhance the market growth during the forecast period.
Data Bridge Market Research analyses that the okara market is expected to reach USD 5.41 billion by 2030, which is USD 3.72 billion in 2022, registering a CAGR of 4.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Okara Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Usage (Bread, Steamed Bread, Noodles, Others), Nutritional Sources (Protein, Fat, Calcium, Minerals Dietary Fiber), By-Product (Tofu, Soy Milk), Application (Hotels, Restaurants and Catering, Food Processing, Household Others), Distribution Channel (Store-Based, Non-Store-Based)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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Vitasoy International Holdings Ltd (China), House Foods Group Inc. (Japan), Morinaga Nutritional Foods, Inc. (Japan), Pulmuone Corporate (South Korea), Midas Soy Nutritions (India), Schouten (Netherlands), Innpac India Pvt. Ltd. (India), INVIGORATE FOODS (India), STAR SOYA FOOD (India)
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Market Opportunities
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Market Definition
Okara is a byproduct of soy-based foods produced during the soymilk or tofu production processes. It contains about 25% protein, 10% lipid, 50% dietary fiber and other nutrients. It is normally yellowish or white in color. Okara is a good raw material and rich source for making fiber because of its high fiber content and low production costs,
Global Okara Market Dynamics
Drivers
- Health benefits associated with okara
Okara is a rich source and good raw material for preparing fiber and dietary supplement to prevent metabolic syndromes. In current years, various physiological functions of DFs, peptides, aglycone isoflavones and amino acids in okara have been reported against metabolic syndromes such as hyperlipidemia, diabetes, obesity and cardiovascular diseases. Therefore, as a result of several health benefits associated with okara, the market is expected to grow during the forecast period.
- Increasing demand of okara in animal feed
Okara is used as animal feed, emulsifier, food preservative and an essential ingredient to improve soil health. Okara is widely used in animal feed resource because it is ecologically friendly and cost-effective alternative. As the demand for the livestock products is growing day by day, the demand for the okara in the animal diet is also increasing which is expected to drive the growth of the market.
Opportunities
- Rising demand of okara in food industry
Okara has been used in food production for human consumption for several years mainly in China and Japan, both in its raw and processed forms. Okara can be a partial substitute for wheat flour, soy flour, and other food-producing components so as to increase the fiber and protein content. The rich amount of carbohydrates, proteins and other forms of nutrients embedded in okara make it a good substrate for microbial fermentation. The use of okara in different food formulation such as drinks, bread, biscuits, cake, sausages, pancakes, candies, and nutritional flour will likely to generate lucrative opportunities for the market growth.
- Growing usage of okara as a dietary supplement
Okara is widely used as a dietary supplement to prevent wide-ranging of ailments such as obesity, prevention of diabetes, hyperlipidemia. It also helps to stimulate the growth of intestinal microbes and formation of microbe-derived metabolites such as xenometabolites. Thus, growing usage of okara as a dietary supplement will create lucrative opportunities for the growth of the market during the forecast period.
Restraints/ Challenges
- High consumption of okara
Eating too much okra can negatively affect some people. Gastrointestinal problems are associated with high consumption of okra because it contains fructans, a carbohydrate type. Fructans can cause cramping, diarrhea, gas, and bloating with existing bowel problems. Hence, high consumption of okara is expected to hamper the growth of the market.
- Availability of alternative
Easy availability of okara substitutes, such as 1/2 cup of mashed cooked beans or tofu is also one of the major factor which is expected to hamper the growth of the okara market during the forecast period of 2023 to 2030.
This okara market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the okara market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Okara Market Scope
The okara market is segmented on the basis of type, usage, nutritional sources, by-product, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Usage
- Bread
- Steamed Bread
- Noodles
- Others
Nutritional Sources
- Protein
- Fat
- Calcium
- Minerals Dietary Fiber
By-Product
- Tofu
- Soy Milk
Application
- Hotels
- Restaurants and Catering
- Food Processing
- Household
- Others
Distribution Channel
- Store-Based
- Non-Store-Based
Okara Market Regional Analysis/Insights
The okara market is analyzed and market size insights and trends are provided by country, usage, nutritional sources, by-product, application and distribution channel as referenced above.
The countries covered in the okara market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the okara market in terms of revenue and market share due to the increasing usage of okara in food production for human consumption in this region. Also, increasing application in animal nutrition in Japan and China will further boost the market growth in this region.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 because of increasing consumer preferences for vegan food products in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Okara Market Share Analysis
The okara market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to okara market.
Some of the major players operating in the okara market are:
- Vitasoy International Holdings Ltd (China)
- House Foods Group Inc. (Japan)
- Morinaga Nutritional Foods, Inc. (Japan)
- Pulmuone Corporate (South Korea)
- Midas Soy Nutritions (India)
- Schouten (Netherlands)
- Innpac India Pvt. Ltd. (India)
- INVIGORATE FOODS (India)
- STAR SOYA FOOD (India)
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