Global Soybean Market: Snapshot
The market for soybean has been steadily rising and this has led to companies expending money into research and development of new and better products to satisfy the customer demand for different food products.
Majorly fuelling demand in the global soybean market is the rising awareness among people about its health benefits. Their increasing applications in various end-use segments such as animal feed is also serving to boost demand. Serving to hamper demand in the global soybean market, on the other hand, is the dairy protein ingredients that have the first mover advantage and greater consumer acceptance.
A report by Transparency Market Research forecasts the global soybean market to rise at a CAGR of 5.0% during the period between 2017 and 2025 to become worth US$215.746 bn by 2025 from US$146.23 bn in 2017.
Organic Soybean to Grow at Greater Pace due to Discerning Consumers
The two main sources of soybean can be classified into conventional and organic. Of the two, the organic segment is more popular because of the increasing preference of consumers for organic stuff sans chemicals and artificial additives that are usually bad for health. In the years ahead, the segment will likely expand at a greater CAGR of 8.1% to become worth US$1.38 bn. The conventional segment is expected to rise at a CAGR of 5.0% to attain a value of US$214.366 bn.
Depending upon end use again, the soybean market can be segmented into food and beverages, personal care, dietary supplements, pharmaceuticals, animal feed, etc. Among them, the segment of animal feed accounts for maximum share in revenue at present. The report by TMR estimates the share to be around 75.1% currently. In the years ahead too, the animal feed sector is predicted expand at a healthy clip. The soy meal segment accounts for the largest share and is followed by the soy oil segment.
Some of the main end products in the global soybean market are whole, protein, oil, meal, and others namely tofu, soybean milk, fiber. The protein segment of the soybean market can be further sub-segmented into soy protein concentrates, isolates, and hydrolysates. Amongt these segments, the soybean meal segment occupies leading share in the market – about 72.9%.
Asia Pacific with Substantial Population Emerges as Major Contributor to Demand
Geographically, some of the key segments in the global soybean market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of them, Asia Pacific is expected to account for the leading share vis-à-vis demand in the years to come due to its massive population, developing economies wherein more and more people are opting for healthy food, and rising awareness about the high protein content of soybean. The animal feed industry and nutraceuticals are also stoking growth in the market in the region. Asia Pacific will most likely be trailed by Latin America and North America. Together, Asia Pacific and Latin-America are likely to account for approximately 78.1% share by the end of 2025. The demand for soybeans in the three key markets is being primarily driven by the increasing consumption of soybean as a natural alternative to meat and dairy proteins and utilization as an ingredient in sports nutrition and in clean-labelled products.
Some of the prominent companies operating in the global soybean market are Kerry Inc., Fuji Oil Group, House Foods Group Inc, The WhiteWave Foods Company, E.I. du Pont de Nemours & Co., CHS Inc., Cargill Inc, The Scoular Company, Archer-Daniels Midland Co.
Global Soybean Market: Overview
Transparency Market Research offer 8-year forecast for the global soybean market between 2017 and 2025. The global soybean market is expected to register a CAGR of 5.0% during the forecast period. The primary objective of the report is to offer insights on the advancements and opportunity in the soybean market. The study demonstrates market dynamics that are expected to influence the current challenges and future status of the global soybean market over the forecast period. This report also offer updates on trends, drivers, restraints, value forecasts, and opportunities for manufacturers operating in the global and regional Soybean market.
Soybean (Glycine max) also known by names such as large bean, yellow bean, soy, soya, and golden bean is a species of legume with origin in East Asia. Soybean seeds are spherical in shape and are usually light yellow; however, some varieties are black, brown or green. Soybean can be processed in various forms and it can be consumed as a whole. Various soybean processed forms are soybean meal, soybean oil, soybean protein and others, which includes tofu, soybean milk, and fiber.
Global Soybean Market: Segmentation
Key Segments Covered
By source, the soybean market is segmented into conventional & organic. The organic segment is likely to be the most attractive segment in the forecast period on the backdrop of the rising consumer confidence towards organic food. On the basis of end-use, the soybean market can be segmented into food & beverages, personal care, dietary supplements, pharmaceuticals, animal feed & others. The animal feed segment is estimated to account for a significant revenue share of 75.1% in 2017 and is expected to register high growth rate during the forecast period. Furthermore, on the basis of end-product, the soybean market is segmented into Whole, protein, oil, meal, and others. The protein segment of the soybean market can be further sub-segmented into soy protein concentrates, isolates, and hydrolysates. Amongst these segments, the soybean meal segment is anticipated to occupy the largest market share of 72.9% in 2017.
The report includes market share of each segment according to the region with analysis towards market trends respectively. A section of the report highlights soybean demand. It also provides a market outlook for 2017–2025 and sets the forecast within the context of the soybean ecosystem, including the new product developments as well as product offerings in the global soybean market. This study discusses key trends contributing to growth of the global soybean market, as well as analyses the degree to which drivers are influencing the global market.
Global Soybean Market: Competitive Analysis
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Key categories of providers covered in the report are soybean’s key players of the global soybean market. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the soybean space. Key players in the global soybean market includes Kerry Inc., Fuji Oil Group, House Foods Group Inc, The WhiteWave Foods Company, E.I. du Pont de Nemours & Co., CHS Inc., Cargill Inc, The Scoular Company, Archer-Daniels Midland Co, and the like.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities.
Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global soybean market.
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