The
global soybean market is driven by the increasing awareness among
consumers regarding the health benefits of soybean and therefore it's
increased number of applications. Today soybean is also used in
animal feed. Since soybean helps in improving the metabolism, people
can gain weight in a healthy manner and also have better digestive
health, thus driving its demand.
Soybean
can help defend against cancer, reduce the impact of menopause,
enhance the health of bones, protect the heart, and protect against
birth defects. It also decreases the risk of diabetes and increases
circulation. All these factors are anticipated to fuel the demand for
soybeans in the next few years. On the other hand, daily protein
ingredients are increasingly gaining consumer acceptance which will
threaten the demand for soya bean. Manufacturers are increasingly
finding it difficult to maintain the final price of the product on
account of the volatility in terms of raw material supply and demand.
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As
per Transparency Market Research (TMR), the global soybean Market is
anticipated to rise from US$146.23 bn in 2017 to US$215.746 bn by
2025, expanding at a 5% CAGR between 2017 and 2025.
There
are two types of soybean sources, organic and conventional. Of these,
it is expected that the organic segment will expand at a faster pace
as consumers are now preferring products which are natural and devoid
of any additives. It is most likely that the organic segment will
expand at an 8.1% CAGR between 2017 and 2025. By end use, the global
soybean market is segmented into dietary supplements, food and
beverages, pharmaceuticals, personal care, and animal feed. Of these,
the highest revenue was generated from the animal feed segment. The
animal feed segment accounted for 75.1% of the total market and is
expected to continue to expand at a healthy pace in the years to
come. Oil, protein, milk, tofu, fiber, soy milk are key products of
soya bean. Of these it is anticipated that the soybean meal segment
will dominate in the market, accounting for 72.9% of the total
market.
On
the basis of geography the global soybean market is segmented into
Asia Pacific, Europe, North America, and the Rest of the World. Among
these, Asia Pacific is leading in terms of highest demand. The high
population, increasing number of people in emerging nations who have
developed a strong inclination for healthy food, and rising awareness
about the protein content of soybean among consumers will drive the
Asia Pacific soybean market. The demand for soybean from
nutraceuticals sector will also help the market to grow in this
region. In addition to this, the animal feed industry is also stoking
the growth of this market.
Latin
America is expected to be the second leading segment, region wise for
the soybean
market followed by North America. Latin American and Asia
Pacific are expected to collectively account for a whopping 78.1% of
the total market by 2025. Increasing consumption of soybean in place
of dairy proteins and as a alternative to meat will fuel the growth
of this market in these two regions. Soybean is also used as an
active ingredient in clean label products and sports nutrition
products.
Players
within the soybean market are attempting to develop innovative
soybean based foods which have improved functionality. Players are
also experimenting with newer blends in order to enhance the
application areas of soybean. Some of the prominent players within
the market include: Fuji Oil Group, Kerry Inc., House Foods Group
Inc, E.I. du Pont de Nemours & Co., The WhiteWave Foods Company,
CHS Inc., The Scoular Company, Cargill Inc, and Archer-Daniels
Midland Co.
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more Information:
https://www.prnewswire.com/news-releases/global-soybean-market-companies-focus-on-development-of-new-products-to-up-sales-finds-tmr-650215083.html
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