Global Natto Market 2019-2023| Increasing Soy Production to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 6, 2018--The global natto market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181106005386/en/
Technavio has published a new market research report on the global natto market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is increased awareness of the need for a healthy lifestyle. The growing consumer awareness of the heath-promoting benefits of protein nutrients such as soy has accelerated the demand for soy foods like natto. Soy comprises 30% carbohydrate, 38% protein, 18% oil, and 14% moisture and contains all nine essential amino acids in the ideal ratio for human health and well-being. Moreover, soy products help in increasing bone density and are a good source of vitamins. A credible source of minerals such as zinc and iron, soy also contains isoflavones that reduce the risk of breast cancer in women. In 2017, the consumption of soy in the US increased by 27.4% since 2010. Hence, factors such as health benefits of soy and the awareness of its health-promoting benefits are factors that will drive the growth of the market during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights increasing soy production as one of the key emerging trends in the global natto market:
Global natto market: Increasing soy production
The global natto market is dependent on the global production levels of soy. Any impact on soy production will have a direct impact on the global natto market. An increase in soy production during the forecast period is expected to boost the growth of the market. According to the United States Department of Agriculture (USDA), in 2017-2018, the total global soy production was estimated to have increased by around 27.6% from 2010-2011. Over the same period, the US emerged as the largest producer of soy and accounted for a yield of about 120.04 mmt, which was an increase of 32.3% from 2010-2011. Also, the export of soy in 2017 witnessed an increase of around 64.2% from 2010, which augurs well for the growth of the market during the forecast period.
“Another major factor that is expected to boost the growth of the market is the increase in applications of natto. Natto is a highly-nutritious, staple breakfast meal in Japan. However, several other applications of the food are evolving, which can drive the demand for natto during the forecast period. For instance, nattokinase, a potent blood-clot dissolving protein used to treat cardiovascular diseases is produced by the bacterium Bacillus subtiIis during the fermentation of soybeans to produce natto. Nattokinase has been extensively studied in Japan, South Korea, and China. Recently, the fibrinolytic (anti-clotting) capacity of nattokinase has also been recognized by western medicine. Currently, a considerable amount of research is being conducted to develop products from nattokinase and several companies are being granted new patents for the same,” says a senior analyst at Technavio for research on food.
Global natto market: Segmentation analysis
This market research report segments the global natto market by application (food and others) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2018 with a market share close to 71%, followed by the Americas and EMEA respectively.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181106005386/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 11/06/2018 11:40 AM/DISC: 11/06/2018 11:40 AM