Soybean Meal Market size was valued at USD 113.89 Bn. in 2022 and revenue is expected to grow by 4.1% from 2023 to 2029, reaching nearly USD 150.89 Bn. Soybean Meal is the byproduct obtained after extracting oil from soybean. The presence of a rich source of protein in Soybean Meal has resulted in its usage as nutrient-rich food products for humans & animals. Soybean Meal contains 47-49% of protein and more than 3% of crude fiber. These nutrient-rich contents are used in the form of food products & beverages made by using Soybean Meal. The high nutrient contents of Soybean Meal are used by the Animal Husbandry Industry to manufacture food products for animals. More than 65% of the animal food products present in the market are made by using Soybean Meal. Soybean Meal is certified as a safe to consume food product by international health regulatory bodies & holds the commercial license to be sold anywhere in the world. An increase in demand for nutrient-rich food products for humans and animals has resulted in increased demand for Soybean Meal. Increasing population, rising demand for nutrient-rich food products, and a wide-scale application in the Food & Beverages and Nutraceutical Industry have resulted in the growth in the Global Soybean Meal Market.To know about the Research Methodology :- Request Free Sample Report
Report Scope:The report provides a complete analysis of the global Soybean Meal Market. The report forecasts revenue growth at global, regional & country levels & provides a detailed analysis on the latest trends in each of the segments from 2022 to 2029. It offers qualitative & quantitative analysis of Soybean Meal market & comprehensive review of key market drivers, restraints, opportunities, challenges, & market trends of the market. It also covers various important aspects of the market. Additionally report consists of an analysis of the value chain, PESTLE Analysis, Porter’s Five Forces model, competitive landscape, Key players benchmarking (by Insect Source, Pricing, Investments, Expansion Plans, Physical Presence and Presence in the Market), market dynamics, market forecasts in terms of value & future trends in the Soybean Meal market.
Soybean Meal Market Dynamics:The nutritional value of soybean meal products is a fundamental component of optimizing diets & estimating the total amount of nutrients given to animals. The majority of animal & poultry diet feed products contain soy meal. The animal feed sector places the largest demand on soybean meal. Daily feeding of soybean meal is necessary for dairy animals like cattle & buffalo, as it increases their ability to produce milk. Additionally it helps to satisfy the rising demand for meat, soybean meal is fed helps animals (pigs, ruminants, and fowl) to gain weight. The need for proteins in animal feed is rising along with the quality meat consumption The strong need for naturally occurring resources to improve the nutrition of livestock & pets is one of the main drivers propelling the growth of the soy protein market for animal feed applications. To maintain productivity & meet consumer demand for high-quality food, the feed industry is dependent on more than 75% of soy and 65% of all fish caught globally. Animal feed made from soy protein is distinguished from other protein sources like milk & meat by its beneficial qualities such as a high quantity of vital amino acids. In developing countries like India, soybean meal is also regarded as the most practical & cost-effective protein feed for cattle. In addition, it is expected that the expansion of animal farming & the rising public awareness of livestock emissions will support the industry's overall growth trajectory in the years to come. Animal farming is responsible for about 14.5% of all human-derived GHG emissions, which has led many science-based enterprises to develop a sustainable method of raising healthy animal protein. For instance, the business revealed Bovaer, a novel feed additive that can cut cattle methane emissions by over 30%. The demand for sustainable protein-based animal feed ingredients is expected to increase significantly in the years to come as a result of developments like these. Adoption of advantageous standards to advance animal proteins Animal protein is quickly becoming recognized as a healthy & sustainable source of nutrients for poultry & other livestock, resolving global issues with sustainability & commerce. Governments are concentrating on developing beneficial regulations & standards to promote the product because roughly one-third of animal protein-based diets are wasted. A ban on the use of animal-remain-based feed was expected to be abolished throughout the EU in the year 2022, for example, allowing birds to consume cheap pig protein. Over 70% to 85% of Americans' daily protein intake comes from animal-based foods like dairy, eggs, poultry, fish, & meat. Additionally, the average American consumes 81g of protein day, of which 85% comes from animal sources. As a result, proteins are a crucial component in the success of the booming poultry farming industry since they play a significant role in the creation of safe chicken meat & eggs. Additionally, healthcare professionals are suggesting patients to consume more protein to speed up recovery from the COVID-19 illness, which is encouraging protein knowledge & consumption worldwide. These encouraging elements could increase the reliance on protein sources for poultry feeds and, in turn, promote the protein market for animal feed application during the forecast period. They may also coincide with the shifting interest in alternative & clean protein-based solutions.An increase in cattle production costs in response to COVID-19 in the US Localized shortages of food, particularly cattle items, have been caused by the unique COVID-19 pandemic in countries like the US. Consumers have seen rising meat prices at the retail level in addition to this dilemma. For instance, according MMR Report in July 2022, the cost of a pound of retail beef in America has increased by 5% from January 2020. These factors may have had a detrimental impact on meat consumption, which has significantly hurt the market for proteins used in animal feed. The federal agency began disbursing more than $270 Mn to contract producers of qualifying poultry & cattle who applied for Epidemic Assistance in order to successfully counteract the difficulties connected with livestock production during the pandemic. Such initiatives, together with the U.S.'s strong concentration on improving its food system, have elevated the country to a dominant position in the protein market for the forecast periods.
Soybean Meal Market Segment Insights:By Source, It is observed that more than 60% of the Soybean Meal available in the market is added with nutrients to improve its value. An increase in demand for organic products has resulted in a 3% increase in demand for Organic Soybean Meal. By Application, It is witnessed that more than 5% of the Soybean Meal manufactured in the world is used as Soy Flour which is used in manufacturing Soy Milk & Vegetable Proteins. More than 40% of the Soybean Meal is used as Animal Feed for Poultry, swine, beef cattle, dairy cattle, & pet animals. The presence of a high source of protein and increasing demand for nutrient-rich products has resulted in increased use of Soybean Meal by the Nutraceutical Industry. Different Non-Dairy and nutrient-rich beverages are made by using Soybean Meal. By Distribution Channels, 30% of the sales of Soybean Meal in the unorganized Market happened through Specialty Stores dealing in nutrient-rich food products. An increase of 3.1% has been observed in the sales of Soybean Meal products through Supermarkets and Convenience Stores in the US and Europe. An increase in the use of the internet for shopping has resulted in a 9% increase in the number of people visiting different E-Commerce platforms for purchasing Soybean Meal. A report by the Organized Soybean Market state that more than 25% of the sales of Soybean Meal has happened through Specialty Stores dealing in plant-based food products for humans and animals. The presence of a wide range of products by different brands and availability on a large scale has resulted in a 4% increase in the sales of Soybean Meal through Supermarkets present in the US and Europe. The near-to-home location has resulted in an increase of 3% in the number of people visiting Convenience Stores that come under the organized sector. The presence of a wide range of products and features like doorstep delivery has resulted in a 6% increase in sales of Soybean Meal through online shopping platforms. Different mediums that deal in Soybean products are visited by customers for purchasing Soybean Meal.
Soybean Meal Market Regional Insights:Region-wise, Asia-Pacific is the biggest manufacturer of Soybean Meal. Countries like China and India produce more than 30% of the global production of Soybean Meal. Increasing population and rising preference for nutrient-rich food products have resulted in a 2.1% increase in the consumption of Soybean Meal. North America is the biggest consumer of health supplements and Dietary food products made by using Soybean Meal. Increased preference for a healthy lifestyle has resulted in a 3% increase in consumption of Soybean Meal by the Nutraceuticals Industry present in this region. Brazil's soybean acreage is still increasing Brazil also sells substantial quantities of whole soybeans to Europe, as well as further quantities to Asia, the Middle East, and other regions of the world. Brazil produces soybean meal, which is supplied to numerous nations, with Europe being the top recipient nation, followed by nations in eastern & southern Asia. Over the last five years, it has increased by 2 to 3% annually, but the growth for 2022 harvest was already close to 4.5%. And given the strong demand, farmers' profit margins, high worldwide pricing, & relatively weak Brazilian currency in 2022, it might even be bigger than that. Soybean meal is in high demand for feed In addition to Vietnam, Indonesia, Algeria, Thailand, Turkey, & Russia are significant importers of South American soybeans, in addition to China and the EU. However, he adds that soybean meal for feed is in high demand within both Brazil and Argentina amid their growing meat output for export, making it tough for soybean exporters to purchase the amounts they’d like to ship. Argentina faces more difficulties exporting soybeans than Brazil due to its poor economy, high export taxes, & dual-currency system. Demand for European soy cannot be met Despite an increase in soybean output over the last ten years in the EU, the amount of meal produced from EU soybeans for stock feed now only makes up about 7% of what is required. The EU also has a pretty steady livestock population. Only roughly 2 Mn tonnes of the EU's required 28–29 MT excluding the UK come from locally cultivated soybeans. The remaining is imported, with over half of the EU’s requirements coming from Brazil & Argentina as soybean meal. Despite an increase in soybean output over the past ten years in the EU, the amount of meal produced from EU soybeans for stock feed currently only makes up about 7% of what is required due to the relatively stable livestock population. Without the UK, the EU need 28–29 MT and only 2 MT come from locally produced soybeans. The rest is imported, with soybean meal from Brazil & Argentina meeting more than half of the EU's demands. The remaining 35% is made up of imported soybeans processed in the EU; the majority of these come from Brazil & Argentina once more, with a small amount also coming from North America and Paraguay. The EU will need to keep importing soybean meal for use as animal feed in order to maintain present demand of meat consumption.
European soy: Growth & potential:The potential to increase the number of acres planted in soybeans in Europe is very high. Because there are currently fewer crop protection products available & nitrogen fertilizer will continue to be highly expensive, soybeans are a fantastic option for crop growers throughout Europe, particularly in Ukraine & Serbia. There are 10 MT grown currently in Europe & during the forecast period that number will increase to 15 MT. 80% of which will be used for animal feed.
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Soybean Meal Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 113.89 Bn. Forecast Period 2023 to 2029 CAGR: 4.1% Market Size in 2029: US $ 150.89 Bn. Segments Covered: by Source • Organic • Conventional by Application • Food Products • Beverages • Healthcare Products • Dietary Supplements • Animal Feed • Others by Distribution Channel • Supermarket • Convenience Store • Specialty Store • E-Commerce • Others
Soybean Meal Market, by Region•North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) • Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina, Columbia and Rest of South America)
Soybean Meal Market, Key Players are:• Cargill, Inc.(US) • Bonne Vie Soybean Meal(US) • IDES Corporate(US) • Minnesota Soybean Processors(US) • Agrocorp International(Singapore) • Wudi Deda Agriculture Co., Ltd.(Saudi Arabia) • MJI Universal Pvt. Ltd.(Singapore) • Agro Ind Group(Romania) • Granol Industria(Switzerland) • Denofa(Norway) • Gimatex Industries Pvt. Ltd.(India) • Eco Export(India) • Gauri Agrotech Products Pvt. Ltd.(India) • Vippy Industries Ltd.(India) • Ajanta Soya Limited.(India) • Titan Biotech(India) •Mukwano Group(Uganda) • Nordic Soya(Finland) • Shafer Commodities Inc.(Canada) FAQs: 1. What is the study period of the market? Ans. The Global Soybean Meal Market is studied from 2017-2029. 2. What is the growth rate of Soybean Meal Market? Ans. The Soybean Meal Market is growing at a CAGR of 4.1% over forecast period. 3. What is the market size of the Soybean Meal Market by 2029? Ans. The market size of the Soybean Meal Market by 2029 is expected to reach at USD 150.89 Bn. 4. What is the forecast period for the Soybean Meal Market? Ans. The forecast period for the Soybean Meal Market is 2023-2029. 5. What was the market size of the Soybean Meal Market in 2022? Ans. The market size of the Soybean Meal Market in 2022 was valued at USD 113.89 Bn.
1. Global Soybean Meal Market: Research Methodology 2. Global Soybean Meal Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Soybean Meal Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Soybean Meal Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 109.41 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Soybean Meal Market Segmentation 4.1 Global Soybean Meal Market, by Source (2023-2029) • Organic • Conventional 4.2 Global Soybean Meal Market, by Application (2023-2029) • Food Products • Beverages • Healthcare Products • Dietary Supplements • Animal Feed • Others 4.3 Global Soybean Meal Market, by Distribution Channel (2023-2029) • Supermarket • Convenience Store • Specialty Store • E-Commerce • Others 5. North America Soybean Meal Market(2023-2029) 5.1 North America Soybean Meal Market, by Source (2023-2029) • Organic • Conventional 5.2 North America Soybean Meal Market, by Application (2023-2029) • Food Products • Beverages • Healthcare Products • Dietary Supplements • Animal Feed • Others 5.3 North America Soybean Meal Market, by Distribution Channel (2023-2029) • Supermarket • Convenience Store • Specialty Store • E-Commerce • Others 5.4 North America Soybean Meal Market, by Country (2023-2029) • United States • Canada • Mexico 6. Europe Soybean Meal Market (2023-2029) 4.1. European Soybean Meal Market, by Source (2023-2029) 6.2. European Soybean Meal Market, by Application (2023-2029) 6.3. European Soybean Meal Market, by Distribution Channel (2023-2029) 6.4. European Soybean Meal Market, by Country (2023-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Soybean Meal Market (2023-2029) 7.1. Asia Pacific Soybean Meal Market, by Source (2023-2029) 7.2. Asia Pacific Soybean Meal Market, by Application (2023-2029) 7.3. Asia Pacific Soybean Meal Market, by Distribution Channel (2023-2029) 7.4. Asia Pacific Soybean Meal Market, by Country (2023-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Soybean Meal Market (2023-2029) 8.1 Middle East and Africa Soybean Meal Market, by Source (2023-2029) 8.2. Middle East and Africa Soybean Meal Market, by Application (2023-2029) 8.3 Middle East and Africa Soybean Meal Market, by Distribution Channel (2023-2029) 8.4. Middle East and Africa Soybean Meal Market, by Country (2023-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Soybean Meal Market (2023-2029) 9.1. South America Soybean Meal Market, by Source (2023-2029) 9.2. South America Soybean Meal Market, by Application (2023-2029) 9.3. South America Soybean Meal Market, by Distribution Channel (2023-2029) 9.4. South America Soybean Meal Market, by Country (2023-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Cargill, Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Agrocorp International 10.3 IDES Corporate 10.4 Wudi Deda Agriculture Co., Ltd. 10.5 MJI Universal Pvt. Ltd. 10.6 Titan Biotech 10.7 Agro Ind Group 10.8 Minnesota Soybean Processors 10.9 Vippy Industries Ltd. 10.10 Bonne Vie Soybean Meal 10.11 Granol Industria 10.12 Denofa 10.13 Gimatex Industries Pvt. Ltd. 10.14 Mukwano Group 10.15 Nordic Soya 10.16 Shafer Commodities Inc. 10.17 Eco Export 10.18 Zhongken Guobang Tianjin Co., Ltd. 10.19 Gauri Agrotech Products Pvt. Ltd. 10.20 Ajanta Soya Limited.