Okara Market Size Worth $3.89 Billion By 2032 | CAGR: 6.9%

The global okara market size is expected to reach USD 3.89 billion by 2032, according to a new study by Polaris Market Research. The report “Okara Market Share, Size, Trends, Industry Analysis Report, By Product (Bakery, Noodles, and Others); By Nutritional Source; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapidly increased use of food production for human consumption, particularly in countries like China and India, and the rising adoption of okara as an effective or partial substitute for soy flour, wheat flour, and many other food-producing components due to the availability of rich amounts of carbohydrates and protein, are among the primary factors influencing the growth of the market. Additionally, rising research & development activities focused on introducing new products with okara with enhanced capabilities and focus on various business expansion strategies to cater to surging market demand from various emerging economies are likely to foster market growth.

For instance, in June 2022, Coop Switzerland announced the launch of its new upcycled meat alternative chunks made with okara, which is a by-product of tofu and soy milk waste. These chunks are completely different from meat alternatives and are known to provide flavourful alternatives that are free of processed protein isolates.

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Furthermore, there has been a drastic increase in the sustainable use of okara as a soil conditioner or fertilizer due to its ability to improve soil structure and add organic matter to the soil, which could lead to better crop yields and soil health and enhance crop productivity. Besides this, okara is being significantly used as an ingredient in animal feed, as it provides a rich source of protein and several nutrients for poultry and livestock; thereby, there is an emerging opportunity for companies to cater to this emerging trend globally.

As consumers worldwide are increasingly interested in knowing where their food comes from and are showing a significant preference for locally sourced ingredients coupled with the surging sustainability considerations that are leading to efforts to find eco-friendly uses for okara, such as composting or animal feed, is likely to open up new growth avenues for the market.

Okara Market Report Highlights

• The bakery segment held the majority market revenue share on account of the surge in the demand for various types of baked goods with nutritional components
• The dietary fiber segment led the industry market with a substantial share, mainly attributable to the growing adoption of dietary and plant-based diets across the world
• The food processing segment will grow at the highest growth rate, owing to the increasing proliferation of processed food products and the development of advanced techniques
• Asia Pacific dominated the global market with a considerable share, mainly driven by growing product use in various traditional and ethnic cuisines in the region
• The key market players market includes Morinaga Nutritional Foods, Pumuone Co., Vitasoy International Holdings, Midas Soy Holdings, and House Foods Group

Polaris Market Research has segmented the okara market report based on product, nutritional source, and application, and region:

Okara, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Bakery
• Noodles
• Others

Okara, Nutritional Sources Outlook (Revenue - USD Billion, 2019 - 2032)

• Protein
• Fat
• Calcium
• Minerals
• Dietary Fiber
• Others

Okara, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Hotels
• Restaurants and Catering
• Food Processing
• Household
• Others

Okara, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Okara Market Report Scope