Published: Jan, 2018
Fierce competition among the players of the global soybean market is foreseen to intensify as the demand for nutritious meals escalates. An observable pattern in the market is that the main organizations are concentrating on the production of soybean derivatives as they are thought to be a potential scope of gaining profit in coming years. Existing organizations are investing into innovative work of new items to fulfill the client demand for various nourishment items. Among many, the key players working in the global soybean market are Fuji Oil Group, The WhiteWave Foods Company, CHS Inc., The Scoular Company, Kerry Inc., House Foods Group Inc, E.I. du Pont de Nemours and Co., Cargill Inc, and Archer-Daniels Midland Co. For the past few years, the soybean market is estimated to flourish significantly due to increasing demand among health-conscious customers.
Based on the report by Transparency Market Research, the global soybean market is expected to rise at a steady CAGR of 5.0% from 2017 to 2025. The market is expected to be worthUS$215.746 bn by the end of year 2025 from US$146.23 bn in 2017. The organic segment is more mainstream owing to rising inclination of buyers toward organic produce as compared to artificially added chemicals and foods that are typically harmful for wellbeing. In the years ahead, the segment will probably expand at a prominent CAGR of 8.1% to grow noticeably and reach a worth of US$1.38 bn during 2017 to 2025. Asia Pacific is relied upon to represent the major share in years to come, owing to its gigantic growth in population, and rising awareness about the high protein ingredients of soybean.
Several Health Benefits Soybean Products to Boost Overall Market Growth of Soybean
Among the major driving factors in the global soybean market is the rising awareness among individuals about its health advantages. They help to improve digestion, make individuals to put on healthy weight, reduce ill-effects of menopause, protect heart, prevent against tumor, digestive wellbeing, safety against birth defects, improved bone health, better blood circulation, reduced danger of diabetes, and so forth. Another factor propelling the growth of the global soybean market is innovation carried out by key players in developing food products, such as soybean milk, chunks, and animal feed.
Reduced Supply of Raw Material to Hamper Market Growth
A key restraint hampering the global soybean market is the gap between supply and demand of soybean. This has brought about instability in pricing amongst manufacturers. Moreover, dairy protein ingredients have the main mover benefit and a prominent customer acknowledgment. This has created an obstruction in the global soybean market.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “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.”
Global Soybean Market, by Source
Global Soybean Market, by End Products
Global Soybean Market, by End Use
- Food and Beverages
- Personal Care
- Dietary Supplements
- Animal Feed
Global Soybean Market, by Region
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
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