Soy Hulls: Market Outlook
In animal husbandry, the domestic animals are given food which is called as animal feed. There are two types of animal feed which are forage and fodder. The animal feed includes pelleted feeds, straw, hay, silage, legumes and mixed grains. The most important source of animal feed is grains. There are 2 important feed grains such as soybean and maize. According to BBC in 2008, sheep and cows consume 8kg of grains in order to produce 1kg of meat. U.S. is the largest exporter of maize and soybeans, which averages about half the global maize trade and soy trade up to 40%.
Soybean is one of the major grain consumed by the domestic animals due to its faster metabolizing properties and is a good protein supplement. Soybean meal is produced from leftover residues after the oil extraction process. About 98% of the soybean meal is utilized in the animal feed, globally. And the rest of the 2% of soybean meal is consumed as soy flour and other soybean derived products by the humans.
There are different types of by-products produced by soymeal. Soy hulls are a type of soymeal derived product which is used as an effective feed for the domestic animals. Soy hulls are especially used in the dairy industry as it is highly rich in fiber which helps in the rapid fermentation and digestion in the animals. Soy hulls does not need any further processing and hence makes it a cost effective feed for the animals in the dairy industry.
Soy Hulls and its Various Properties:
Soy hulls are a by-product of soybean meal and soybean oil. When the soybeans are processed, it removes the damaged and broken beans. The rest of the beans are then cracked in order to remove the soy hulls. The soy hulls are then heat treated and milled. The soy hulls are considered to be the perfect feed for the animals as it is easily available and less in price. Soy hulls can replace most of the grains and hay in the diets of goats, sheep and other dairy cattle.
Soy hulls are an ideal supplement for the ruminants which consume low to moderate quality feed. Most of the producers are feeding soy hulls as it is a common ingredient in the commercial feeds. Soy hulls work best when they are in the pellet form or if it is mixed with other feed. Soy hulls in the pellet form have a high bulk density. Soy hulls pellet are easy to transport and store when compared to the unpelleted soy hulls. Soy hulls are commonly used as a supplement for goats and sheep which helps to improve the body condition of the animals.
Considering the various benefits of soy hulls, the market is expected to have a positive outlook over the forecast period.
Global Soy Hulls Market: Segmentation
On the basis of product form, the global soy hulls market has been segmented as:
- Grounded soy hulls
- Pelleted soy hulls
On the basis of nature, the global soy hulls market has been segmented as:
On the basis of animals, the global soy hulls market has been segmented as:
Global Soy Hulls Market: Market Participants
Some of the market participants operating in the global soy hulls market identified across the value chain include SOY-FED FISH, Ag Processing Inc, Agrifeeds, Soon Soon Oilmills Sdn Bhd., Sakthi Soyas Limited, Penny-Newman Grain, Ag Fibers, LLC, Agri Trading, Cereal Byproducts Company, Consolidated Grain and Barge, CPE Feeds Inc, CR Feeds & Fibers LLC, Diversified Ingredients, Grain Millers, Inc, Integrity Sales, LLC, Key Ingredients, Inc., Lackawanna Products, MGP Ingredients, R & J Cattle Company among the other soy hulls players.
Opportunities for Participants in the Soy Hulls Market
The soy hulls market is pegged to have high potential for growth, owing to the various benefits of soy hulls. Domestic animals in regions such as Northern America and Latin America are fed soy hulls predominantly when compared to the other feed. If the same practice is adopted by other regions, the soy hulls market is likely to witness phenomenal growth over the forecast period.
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