Soy is a popular and trendy additive found in foods, but it's also one of the most common food allergens. So far, 15 different allergic proteins have been found in soybeans. Soy allergies typically affect young children, who normally outgrow it by age three, but it is becoming increasingly common among adults. Allergic reactions to soy are usually mild, but in rare instances they can be life-threatening. It's common for people with a soy allergy to also be allergic to other legumes like peanuts and beans.