Soybean Market was valued at USD 93 Billion in 2019 and is expected to register a CAGR of 4.5% during the forecast period.

Introduction of the Soybean Market Report

Soybean is an edible seed that belongs to the pea family. It is considered an ideal source of protein and is a staple in the diets of people and animals around the world. It has antioxidants and phytonutrients proteins and offers health benefits. The global soybean market covers end-use product types such as whole soybean, meal, oil, among others.

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Market Dynamic

Key Drivers and Emerging Trends

One of the biggest factors that is propelling the growth of the global soybean market includes the increasing trend of the vegan lifestyle, which has encouraged consumers to opt for plant-based proteins such as soybean. The outbreak of the coronavirus has led to national lockdown and closure of slaughterhouses, meat-packaging, restaurants, hotels, and other meal services. This has directly surged the demand for soybean in the coming years. Soybean is high in protein and is a source of both carbohydrates and fat. They offer vitamins, minerals, and other beneficial plant compounds such as isoflavones. Brazil, Canada, the United States, and Uruguay are among the leading exporters and producers of soybean around the world, with around 84% of the global production taking place in these countries.

As per the soybean market analysis, there has been an increase in the demand for by-products of soybean such as oil cakes, soybean meals, among others. This is mainly due to the high amount of nutritional value offered by these products. According to FAO statistics, the total production of soybean oil in the United States amounted to 10.8 million metric ton for the year 2019, which was 10 million metric ton in 2016.

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End-Use Products – Segment Analysis

Based on the end-use products, the whole soybean is expected to grow at a higher CAGR during the forecast period. The whole soybean sub segment includes fermented soy food and non-fermented soy food. The increasing demand for soy milk, soy sprouts, tofu, and other related products is contributing to the growth of the segment in the market. The growing preference towards vegan diet pattern, especially in developed economies such as the U.S. and Germany is further driving the market growth. As per the U.S. Food and Drug Administration (FDA), the daily consumption of 25 grams of soy protein helps in maintain the proper protein intake and balances the cholesterol level in the body.

Application – Segment Analysis

Based on the application, the dietary supplements is expected to dominate the market during the forecast period. The increasing consumer awareness related to the benefits offered by soybean, such as it contains useful nutrients such as carbohydrates, vitamins, minerals, and protein, is surging the demand of the market over the coming years. The emergence of the COVID-19 pandemic has further encouraged the consumer’s interest in healthy food products in improving their immune system. This will further increase the demand for soybean over the coming years.

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Regional – Segment Analysis:

On the basis of regional coverage, rest of the world is expected to grow at a higher CAGR during the forecast period. The rising production of soybean in Argentina, Brazil, and other countries is responsible for the regional market growth. There has an increase in the awareness related to the production of soybean among the farmers, which is further surging the demand for soybean in this region.

Top Market Players

Some of the leading players operating in the market, include Kerry, FUJI OIL HOLDINGS INC., House Foods Group Inc., The WhiteWave Foods Company, DuPont, CHS Inc., Cargill, Incorporated, ADM, The Scoular Company, and Bunge North America, among others.

Key Developments:

• • In 2019, CHS Inc., announced to expand its market access for regional soybean growers and return value to the owners.

Segments covered in the Report:

The global Soybean market has been segmented on the basis of End-Use Products, Application, and regions. Based on End-Use Products, the market is segmented into Whole Soybean, Meal, Oil, and Others. Based on Application, the market is segmented into Animal Feed, Aqua Feed, Biofuel, Food and Beverage, Dietary Supplements, Paints & Coatings, and Others. 

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Key questions answered in this research report:

• • At what pace is global Soybean market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Soybean market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Soybean market?
  • Which End-Use Products generated maximum revenues in 2020 and identify the most promising End-Use Products during the forecast period?
  • What are the various Application areas of global Soybean market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Soybean Market by End-Use Products

• • Whole Soybean
  • Meal
  • Oil
  • Others

Global Soybean Market by Application

• • Animal Feed
  • Aqua Feed
  • Biofuel
  • Food and Beverage
  • Dietary Supplements
  • Paints & Coatings
  • Others

Global Soybean Market by Region

• • North America Soybean Market (Option 1: As a part of the free 25% customization)
    • North America Soybean Market by End-Use Products
    • North America Soybean Market by Application
    • US Soybean Market All-Up
    • Canada Soybean Market All-Up
  • Europe Soybean Market (Option 2: As a part of the free 25% customization)
    • Europe Soybean Market by End-Use Products
    • Europe Soybean Market by Application
    • UK Soybean Market All-Up
    • Germany Soybean Market All-Up
    • France Soybean Market All-Up
    • Spain Soybean Market All-Up
    • Rest of Europe Soybean Market All-Up
  • Asia-Pacific Soybean Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Soybean Market by End-Use Products
    • Asia-Pacific Soybean Market by Application
    • China Soybean Market All-Up
    • India Soybean Market All-Up
    • Japan Soybean Market All-Up
    • Rest of APAC Soybean Market All-Up
  • RoW Soybean Market (Option 4: As a part of the free 25% customization)
    • RoW Soybean Market by End-Use Products
    • RoW Soybean Market by Application
    • Brazil Soybean Market All-Up
    • South Africa Soybean Market All-Up
    • Saudi Arabia Soybean Market All-Up
    • UAE Soybean Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Soybean Market All-Up

Major Players Operating in the Soybean (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Kerry
  • FUJI OIL HOLDINGS INC.
  • House Foods Group Inc.
  • The WhiteWave Foods Company
  • DuPont
  • CHS Inc.
  • Cargill, Incorporated
  • ADM
  • The Scoular Company
  • Bunge North America