A recent report by Transparency Market Research
(TMR), a leading market intelligence firm, assesses the growth dynamics of the
global soybean market over the period from 2017 to 2025. According
to the report, the soybean market is expected to register a decent rise by the
end of the forecast period, thanks to intense competition among the key market
players.
With Fuji Oil Group, E.I. du Pont de Nemours &
Co., House Foods Group Inc., CHS Inc., The Scoular Co., Kerry Inc., Cargill
Inc., The WhiteWave Foods Co., Archer-Daniels-Midland Co., and several others
leading the worldwide market for soybean, it demonstrates a largely fragmented
business landscape. The key players are concentrating on product innovations to
gain a strong foothold in this competitive environment. In the coming years,
they are likely to increase their investments in the soybean market, states the
research report.
As per the research study, the global soybean
market is expected to report a healthy rise at a CAGR of 5.00% during the
period from 2017 to 2025. Lately, the demand for organic soybeans has witnessed
a significant growth over conventional soybeans due to the increasing
preference for natural and healthy food products among consumers. The scenario
is projected to remain same over the next few years, reflecting positively on
the organic soybean segment. Protein, milk, oil, tofu, fiber, soy milk, and
meal have surfaced as the main products of this market. With a demand share of
72.90%, the meal segment is anticipated to lead the global market over the
forecast period, notes the study.
Geographically, the worldwide soybean market is
mainly spread across North America, Asia Pacific, Europe, Latin America, and
the Middle East and Africa. Currently, Asia Pacific is the key regional soybean
market across the world. The ever-rising population in Asia Pacific is expected
to result in continued supremacy of this regional market in the years to
come.
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Increasing Awareness regarding
Health and Fitness to Support Growth
“The rise in awareness level regarding health and
fitness among consumers, especially the young generation, is the key factor
that is fuelling the demand for soybean around the world,” says the author of
this research study. The increasing knowledge about medical benefits of
soybeans, such as providing cover against cancer, eliminating birth defects,
reducing risk of heart diseases, and deceasing menopausal impact, are also
supporting the soybean market’s growth considerably.
In addition to this, the increasing use of soybean
in food and beverages, personal care products, pharmaceuticals, dietary
supplements, and animal feed is influencing the global soybean market
positively. The demand for soybean in animal feed is expected to increase
further, making it the key end user of soybean in the near future, states the
research report.
Fuelling Demand for Ready Protein
Ingredient Products to Hamper Soybean Market
Although the global soybean market is currently reporting
positive growth and is projected to do just fine in the coming years, the
fuelling demand for ready protein ingredient products are likely to surface as
a threat to it smooth growth trajectory. The advent of other substitute and
dietary replacements for soybeans will also pose a challenge for the worldwide
soybean market’s growth over the next couple of years. However, the increasing
investments by key market players, in order to introduce new products, is
anticipated to open new success streams for them in the near future.
The review is based on a report by Transparency
Market Research, 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.”
