Competition
in the global soybean market is expected to increase on the back of
increasing demand which existing and new manufacturers are rushing to
satisfy. A noticeable trend in the market is the leading companies
focusing on the production of soybean derivatives as it is considered
to be a growing market. Existing companies are pouring money into
research and development of new products to satisfy the customer
demand for different food 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, and Archer-Daniels
Midland Co.
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.
Depending
upon the type of source, the global soybean market can be split into
conventional and organic. Of the two, the organic segment will likely
expand at a greater pace in the near future owing to consumers who
mostly prefer natural products without additives. The TMR report
predicts the organic source segment to register a CAGR of 8.1% from
2017 to 2025.
From
a geographical standpoint, Asia Pacific leads the global soybean
market in terms of demand, which is expected to increase further 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.
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Knowledge
about Health Benefits Drives Demand for Soybeans
Majorly
fuelling demand in the global soybean market is the rising awareness
among people about its health benefits. They help to improve
metabolism, enable people to gain weight in a healthy manner, protect
heart, defend against cancer, lessen effects of menopause, better
digestive health, enhance bone health, protect against birth defects,
increase circulation, decrease the risk of diabetes, etc.
“Another
factor proving beneficial for the global soybean market is the thrust
on research and development by savvy players in order to come up with
innovative soybean-based foods with greater functionality and the
incorporation of newer blends suitable for various applications. One
such growth in use of soybean is its application in animal feed,”
adds the lead analyst of the TMR report.
Supply
Demand Disparity Hampers Market Growth
Serving
to restrain the global soybean market, on the other hand, is the
overall disparity between supply and demand. With a greater
importance attached to the distribution of soybean, the market is
seeing a gradual reduction in raw materials supplied to it. This has
resulted in price volatility, which creates inconvenience for
manufacturers as they try to maintain the final product price as well
as their profit margin. In addition, dairy protein ingredients have
the first mover advantage and greater consumer acceptance. This is
also dealing a blow to the global soybean market.
This
review is based on the findings of a TMR report, titled, “Soybean
Market (Source - Conventional and Organic; End Products - 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 below:
Global
Soybean Market, by Source
- Conventional
- Organic
Global
Soybean Market, by End Products
- Whole
- Protein
- Oil
- Meal
Global
Soybean Market, by End Use
- Food and Beverages
- Personal Care
- Dietary Supplements
- Pharmaceuticals
- Animal Feed
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