Published: Jun, 2018
The global soybean market has a fragmented vendor landscape, Transparency Market Research observes in a recent market research report. Presence of numerous key players in the market has increased competition significantly.
In order to gain competitive advantage, the market players are focusing to produce new products from soybean for widening their offerings to their customers. Some of the key players present in the market are Fuji Oil Group, House Foods Group Inc, E.I. du Pont de Nemours & Co., CHS Inc., Cargill Inc, The Scoular Company, Kerry Inc., Archer-Daniels-Midland Co., and The WhiteWave Foods Company.
According to the report, the global soybean Market, which was valued at US$146.23 bn in 2017 is projected to reach US$215.746 bn by 2025. It is expected to expand at a 5% CAGR over the forecast from 2017 to 2025.
Preference for Healthy Food to Drive Soybean Market
On the basis of source type, the soybean market is classified into conventional and organic. Among these, the organic segment is expected to emerge dominant with 8.1% CAGR from 2017 to 2025 owing to a preference for healthy and natural products.
On the basis of end-use, the market is segmented into animal feed, food and beverages, dietary supplements, pharmaceuticals, and personal care. Of these, in 2017, the animal feed segment held 75.1% of the market and is expected to remain dominant over the forecast period. The rising preference for soybean feed due to its advantages and nutrients values is expected to boost this segment.
On the basis of product, the market is segmented into protein, oil, milk, tofu, soy milk, fiber, and meal. Among these, in 2017, the meal is expected to dominate the market with share of 72.9%. This growth is attributed to rising awareness regarding health benefits due to consumption of soybean.
Availability of Wide Range of Soybean-based Healthy Products to Drive Growth of Market
Soybean is a rich source of nutrients. It aids healthy weight gain by improving metabolism, which maintains better digestive health of body in human and animals as well. The rising awareness regarding health benefits of soybean is driving the soybean market. Additionally, soybean has many medical benefits including defending cancer, reducing impact of menopause, advantages to eliminate heart diseases, eliminating birth defects, and maintaining bones health. These advantages and rising knowledge among consumers about the same are boosting the soybean market.
However, ready protein ingredients products are gaining momentum in the market. Demand for these products is a major threat to the soybean market.
The information is based on the new report by TMR, titled as, “Soybean Market (Source - Conventional and Organic; End Product - Whole, Protein, Oil, and Meal; End Use - Food and Beverages, Personal Care, Dietary Supplements, Pharmaceuticals, and Animal Feed) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
The global soybean market is segmented as:
By End Product
By End Use
- Food and Beverages
- Personal Care
- Dietary Supplements
- Animal Feed
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
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